Current CD rates for May 2026
Bankrate tracks the best certificate of deposit (CD) rates and recent interest rate trends for you. Here are the current national average annual percentage yields (APYs) as of Thursday, May 14, 2026, according to Bankrate's most recent survey:
- 1-year CD yield: 1.95 percent APY
- 3-year CD yield: 1.65 percent APY
- 5-year CD yield: 1.7 percent APY
How CD rates have changed
The national average rate for one-year and five-year CDs has remained fairly steady in the last few months, after gradually dwindling following a series of Federal Reserve rate cuts in late 2025.
And the same can be said of top CD rates. They've moved down since late 2025 but are now staying steady, with some small movements up and down.
Overall, the top CD rates remain close to 4% for many terms but inflation has been creeping up lately. As of April, inflation is at 3.8% year-over-year per the Consumer Price Index, which means returns are getting less positive for many savers.
You'll likely find higher rates on shorter-term CDs than longer-term ones (which is not historically the norm. It's what's called an inverted yield curve). Since February 2023, the one-year CD average has been higher than the five-year CD average.
What can you do when inflation overtakes CD returns?
The truth is, not much. When this happens, you won't be alone. You'll be in the same boat as anyone looking to safeguard some of their savings in a federally insured bank or credit union. Yes, the money in your CD will be losing purchasing power, but it will also still be earning you a safe and still relatively high fixed return.
Think of it this way: that money in a checking account would be lagging 3.8% behind inflation this month; in a CD, it may only be lagging by 0.3%.
You could go chase higher returns that beat inflation in the stock market, but you'd be taking on more risk. The stock market could drop 10% tomorrow while money in a CD would be protected and earning 3% or more.
How the Federal Reserve impacts CD rates
Competitive CD rates usually move in the same direction as Fed rates.
At the end of 2025, the Federal Reserve cut the federal funds rate three times in a row, taking it from 4.25%-4.50% to where they're at now - 3.50-3.75%. This is the lowest it has been since Sept. 2022. The Fed has refrained from changing the benchmark rate so far this year.
There are several meetings left in 2026 but according to the CME FedWatch, the federal funds rate is not likely to budge in 2026. That means that CD rates may stay fairly stable, too.
We live in uncertain and challenging times. And one way of managing through that is to prioritize savings. Think of a CD as a contract guaranteeing income for your future self. If you don't exclusively need liquidity today, and your CD will be one part of a broader mix of accounts that includes high yield savings, grab the certainty of a guaranteed rate for tomorrow and days to come.- Mark Hamrick, Bankrate Senior Economic Analyst
Before you open any CD…
- Know the early withdrawal penalty, but try to avoid it. If you might need access to that money before the term is up, you're better off putting your money in a high-yield savings account instead.
- Use our CD calculator to see how much you could earn with different CD terms at different banks.
Latest average CD APYs: 3-month trend
Bankrate monitors the national average rates on various CD terms, including:
| Date | 1-year CD | 3-year CD | 5-year CD |
|---|---|---|---|
| 5/10/2026 | 1.96% | 1.65% | 1.70% |
| 5/3/2026 | 1.93% | 1.65% | 1.70% |
| 4/26/2026 | 1.92% | 1.65% | 1.70% |
| 4/19/2026 | 1.90% | 1.65% | 1.70% |
| 4/12/2026 | 1.90% | 1.64% | 1.69% |
| 4/5/2026 | 1.89% | 1.63% | 1.68% |
| 3/29/2026 | 1.90% | 1.64% | 1.69% |
| 3/22/2026 | 1.89% | 1.64% | 1.69% |
| 3/15/2026 | 1.88% | 1.63% | 1.68% |
| 3/8/2026 | 1.89% | 1.63% | 1.69% |
| 3/1/2026 | 1.89% | 1.63% | 1.69% |
| 2/22/26 | 1.89% | 1.63% | 1.68% |
| 2/16/26 | 1.89% | 1.63% | 1.69% |
How Bankrate calculates the national average
Bankrate has made enhancements to our national averages database on April 14, 2025, including ones that retroactively impact previous weeks' listings in our table. Previous enhancements were also made in January 2025. Up to 1,300 banks and credit unions are surveyed weekly to generate the national averages. Among these institutions are those that are broadly available and offer high yields, as well as some of the nation's largest banks.
Don't settle for average
Bankrate's best CD rates can help you compare CD yields and find the right one for you.
Compare CD rates by term for May 2026
Current 6-month CD rates
- Popular Direct - 4.10% APY
- Limelight Bank - 4.08% APY
- E*TRADE by Morgan Stanley - 4.05% APY
- Bread Savings - 4.00% APY
- Marcus by Goldman Sachs - 3.95% APY
See additional best 6-month CD rates.
Current 1-year CD rates
- E*TRADE by Morgan Stanley - 4.10% APY
- Limelight Bank - 4.03% APY
- BTG Pactual Bank - 4.00% APY
- Live Oak Bank - 4.00% APY
- Colorado Federal Savings Bank - 4.00% APY
See additional best 1-year CD rates.
Current 3-year CD rates
- BTG Pactual - 4.13% APY
- Sallie Mae - 3.95% APY
- Bread Savings - 3.85% APY
- First National Bank of America - 3.80% APY
- TAB Bank - 3.75% APY
See additional best 3-year CD rates.
Current 5-year CD rates
- BTG Pactual - 4.15% APY
- Sallie Mae - 4.00% APY
- E*TRADE by Morgan Stanley - 3.85% APY
- Bread Savings - 3.85% APY
- Marcus by Goldman Sachs - 3.80% APY
See additional best 5-year CD rates.
Note: Annual percentage yields (APYs) shown are as of May 12, 2026. Bankrate's editorial team updates this information weekly. APYs may have changed since they were last updated and may vary by region for some products.
Current CD rates FAQs
- Can you get 6% on a CD?Bankrate tracks hundreds of banks and credit unions, none of which currently offer a 6% return on a CD. However, you can find rates at or near 4% on many CD terms, which still outstrips inflation.
- How are CD interest rates determined?CD rates are determined by several factors. The decisions made by the Federal Reserve on the federal funds rate will likely influence CD rates. Competition among banks and credit unions also influences the payout on their CDs, as well as whether or not the financial institution needs deposits. In general, online banks tend to pay higher rates than banks with branches. Changes in Treasury yields and economic conditions also influence CD rates.
Learn more to maximize your earnings
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This story was originally published May 31, 2024 at 9:59 AM.