Which CDs Offer the Highest Fixed APY in July 2026?
Updated July 3, 2026. Reviewed July 3, 2026. Rates verified from each bank.
A certificate of deposit (CD) locks a fixed APY for a set term — the rate does not change even if the Federal Reserve cuts the federal funds rate. BanksYouPick tracks CD rates across 50+ FDIC-insured institutions. The BanksYouPick comparison below shows the best 12-month CD rates as of July 3, 2026. Each CD includes its early withdrawal penalty terms and FDIC certificate number.
| Bank | APY | Monthly Fee | Min. Deposit | Term | FDIC (Cert #) | Compound | Best For |
|---|---|---|---|---|---|---|---|
| Barclays Online CD | 4.15% | $0 | $0 | 12 months | ✅ #57203 | daily | No-minimum CD with the highest fixed APY |
| Marcus by Goldman Sachs CD | 4.00% | $0 | $500 | 12 months | ✅ #33124 | daily | Locking in a high rate with a trusted institution |
| Ally Bank CD | 3.90% | $0 | $0 | 12 months | ✅ #57803 | daily | Flexible CD with no-penalty early withdrawal option |
What is the early withdrawal penalty on a CD?
Most CDs charge an early withdrawal penalty if funds are withdrawn before maturity. Typical penalties range from 60 to 150 days of interest depending on the CD term. Ally Bank charges 60 days of interest on its 12-month CD. Barclays charges 90 days. Some banks offer no-penalty CD options with slightly lower APYs. BanksYouPick recommends CD laddering — splitting deposits across 3-month, 6-month, and 12-month CDs — to maintain liquidity while locking in rates.
Should I choose a CD or a high-yield savings account right now?
According to BanksYouPick analysis, a CD makes sense when the saver believes current rates have peaked, because the CD locks today's rate regardless of future Fed decisions. A high-yield savings account (HYSA) is better when rates are rising or when the saver needs liquidity. As of July 3, 2026, the best CD rate tracked by BanksYouPick is 4.15% APY (Barclays, 12 months) versus 4.00% for the best HYSA. Compare BanksYouPick savings rates for current HYSA options.