Which CDs Offer the Highest Fixed APY in July 2026?
Updated August 24, 2026 · every figure carries the source it was read from and the date it was read
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 9 FDIC-insured institutions. The BanksYouPick comparison below shows the best 12-month CD rates as of August 24, 2026. Each CD includes its early withdrawal penalty terms and FDIC certificate number.
| Bank | APY | What it depends on | Fee | To open | To earn it | Term | FDIC cert | Compounds | Read from |
|---|---|---|---|---|---|---|---|---|---|
| Barclays Online CDNo-minimum CD with the highest fixed APY | 4.15% | Nothing stated | $0 | $0 | — | 12 months | #57203 | daily | 2026-08-24unconfirmed |
| Marcus by Goldman Sachs CDLocking in a high rate with a trusted institution | 4.00% | Nothing stated | $0 | $500 | — | 12 months | #33124 | daily | 2026-08-24unconfirmed |
| Ally Bank CDFlexible CD with no-penalty early withdrawal option | 3.90% | Nothing stated | $0 | $0 | — | 12 months | #57803 | daily | 2026-08-24unconfirmed |
“To open” and “to earn it” are different numbers and are shown separately: CIT takes $100 to open the account but $5,000 before it pays the rate above. Each APY links to the source it was read from and the date it was read. A rate marked unconfirmed has not yet been checked against the bank’s own product page. Deposit rates are variable and change without notice — confirm the figure with the bank before opening an account.
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Most CDs charge an early withdrawal penalty if funds are withdrawn before maturity.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 August 24, 2026, the best CD within the 9 institutions BanksYouPick currently tracks is 4.15% APY (Barclays Online CD, 12 months) against 3.80% for the best savings account. Compare BanksYouPick savings rates for current HYSA options.