Best CD rates today, March 8, 2026 (lock in up to 4% APY)

Overview of CD Rates - The highest CD rate as of March 8, 2026, is 4% APY offered by Marcus by Goldman Sachs on its 1-year CD, contrasting with historical trends where longer-term CDs typically had higher rates [2] Interest Earnings from CDs - The interest earned from a CD is determined by the annual percentage rate (APY), which reflects total earnings after one year, factoring in the base interest rate and compounding frequency [3] - For a $1,000 investment in a one-year CD at 1.55% APY with monthly compounding, the balance would grow to $1,015.61, while a 4% APY would result in a balance of $1,040.74 [4] Deposit Amount Impact - Increasing the deposit amount in a CD significantly enhances potential earnings; for example, a $10,000 deposit in a one-year CD at 4% APY would yield a total balance of $10,407.42, resulting in $407.42 in interest [5] Types of CDs - Various types of CDs offer different benefits, which may involve accepting lower interest rates for added flexibility: - Bump-up CD: Allows for a one-time request to increase the interest rate if bank rates rise during the term [5] - No-penalty CD: Enables early withdrawal without penalties [5] - Jumbo CD: Requires a higher minimum deposit (typically $100,000 or more) and may offer higher rates, though the difference from traditional CDs may be minimal in the current environment [5] - Brokered CD: Purchased through a brokerage, potentially offering higher rates or flexible terms but carries more risk and may not be FDIC-insured [5]