In September 2026, certificates of deposit are still a good option for savers for the relatively predictable way to earn interest.
CDs allow customers to deposit money for a fixed period and earn a predetermined annual percentage yield, or APY. But anyone looking at a 5.00% CD should know the terms before they lock away their money.
Our current market comparisons indicate that the highest widely available CD rates are mostly below 5%.
NerdWallet's September 2026 roundup shows top rates at 4.50% APY, and other market comparisons show the highest nationwide offers at 4.60%.
Where CD Rates Stand in September 2026
The CD market has changed drastically as banks and credit unions respond to interest rate expectations.
On September 4, the leading CD rates were between 4.14% and 4.60% depending on the institution and maturity period. The shorter-term certificates offer better yields compared to the longer-term CDs.
For savers, this means that there are still opportunities to secure good fixed returns without committing money for five years, and so good fixed returns can be achieved.
Six-month, one-year, and other terms are offered competitive yields.
Is a 5% CD Still Possible
A 5.00% APY CD is not out of the question, but it is no longer a typical nationwide offer.
Forbes Advisor notes that CDs around 5% may still be offered at smaller credit unions, but membership requirements or geographic and organizational eligibility can apply.
This distinction is significant. A headline rate might look attractive, but consumers should pay attention to the minimum deposit, membership requirements, maximum balance required for the promotional APY, and maturity date of the certificate.
Should You Lock In a CD Now
The decision is on your financial horizon and your expectations of interest rates.
A fixed-rate CD will provide certainty as long as the APY will be the same throughout the agreed term because the APY is consistent. That can be valuable for money you will not need now.
CDs, however, have an early withdrawal penalty if you pull out before maturity.
So that is why they are less suitable to fund emergency needs. A high-yield savings account is flexible, but the rate can fluctuate.
Another option is a CD ladder. Rather than having all your money in one certificate, you can split it up among CDs with different maturity dates. You will also have access to money in a periodic fashion, but you will always have a fixed interest rate.
What to Check Before Opening a CD
Before choosing a certificate, compare the APY with the advertised interest rate and look beyond the advertised interest rate.
Also, consider the length of the term, minimum deposit, early withdrawal penalty, and whether the institution has FDIC or NCUA insurance.
Investors looking at a 5% headline offer do much more to consider when looking at the fine print.
A slightly lower APY from an institution with fewer restrictions may be more financially viable than a promotional rate with strict eligibility requirements.
With the leading September CD rates in the mid-4% range and only a few offers available nationwide, savers should be cautious when comparing offers and not just assume every 5% advertisement is available.
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