The nation’s largest banks (according to FDIC data) are currently advertising CD APYs as high as 4.00% (as of March 4, 2026). Terms start at three months and go up to 14 months.
If you’d rather go with a bank that’s been around the block instead of a digital-first name you’re less familiar with, these CDs from major institutions might be exactly what you’re seeking.
Rates accurate as of March 4, 2026.
What’s the benefit of opening a CD with a big bank?
People gravitate toward institutions like Chase and Bank of America for a reason—familiarity breeds confidence, especially when your savings are involved. And beyond the name itself, there are practical upsides to getting a CD from a major bank:
- Keep all your banking in one place. Got a checking account, savings account, or loan with a big bank already? A CD at the same institution means one-stop access to essentially your entire financial picture.
- Often more CD options available. Bigger banks generally carry a larger assortment of CD terms and product types—though this varies.
- Get relationship rate bumps. Some banks offer a slightly better APY to customers who already hold accounts with them. That said, these enhanced rates might not always top what digital-only banks can offer. And it’s worth noting online-leaning banks like American Express are both household names and are consistently among the top CD rate providers.
What is a CD?
A certificate of deposit (CD) is somewhat like a high-yield savings account, but with a catch: Your money has to stay put for a defined period. The reward for that commitment is usually a better interest rate than what you’d get from a savings account.
If you touch your money before your account matures, you’ll pay early withdrawal penalties. The silver lining is that your rate holds steady the entire time no matter what’s happening with interest rates nationally.
When your term ends, you can claim your deposit plus all the interest it has generated. You’re free to move the money or roll it into another CD. Most banks automatically renew matured CDs, but there’s generally a grace period to step in and make a different choice.
How to choose the best CD type for you
Beyond the traditional fixed-rate CD, you’ll encounter a number of specialized options geared toward different priorities. The ones you’ll see most often include:
- No-penalty. Take your money out before the term concludes without owing a fee. The catch is a typically lower APY.
- Bump-up. Allows you to claim a higher rate if the bank increases the APY on your CD product while your term is active.
- Jumbo. Some banks attach this label to CDs that call for a high minimum deposit, often sweetening the deal with a better rate.
- IRA. Merges the stability of a CD with the tax benefits of an IRA. You can use existing retirement savings or contribute new funds up to the annual IRA contribution limit ($7,000 for those under 50; $8,000 for those 50+).
- Business. A conservative option for businesses that want their cash working but not at risk. These come in several varieties.
How to choose the best CD term for you
Getting your account term right is arguably the biggest decision in the CD process. It establishes how long your funds are committed and when you can reclaim them without a penalty.
There’s logic in choosing a longer term—your APY is locked in, which is great protection if rates fall. The other side of the coin is that if rates improve during your term, your money is parked at the old rate. Getting out early means paying a penalty that can chip away at what you’ve earned.
It comes down to two considerations:
- How long is it realistic for you to keep these funds off-limits?
- What APY will you earn for that term? Rates vary quite a bit across different durations.
To strike a balance between flexibility and yield, many savers turn to CD laddering.
What is CD laddering?
A CD ladder is a method of spreading your CD investments across multiple terms so that portions of your money mature on a rolling schedule. It’s a way to stay invested long-term while keeping some cash accessible.
Here’s a practical illustration with $5,000:
- $1,250 into a 6-month CD
- $1,250 into a 12-month CD
- $1,250 into a 18-month CD
- $1,250 into a 24-month CD
Every six months, a CD matures and $1,250 plus interest returns to you. You can withdraw it, redirect it, or reinvest it into another 24-month CD to keep the ladder intact.
The takeaway
For variety and reliability, big banks are a strong option for CD shoppers. They tend to offer more term choices and account types than anyone else. That said, their rates sometimes trail what online-only banks provide—so always compare before committing. Our post on the best certificates of deposit highlights the current top picks.
Frequently asked questions
Are CDs at large banks safer than CDs at smaller banks?
CDs at large banks are not really safer than CDs at smaller banks. As long as the bank is insured by the FDIC, your money is generally as safe at a small bank. If it’s a credit union, check that they’re insured by the NCUA.
How often do big-name banks change their CD rates?
Big-name banks change their CD rates regularly. You may find that some CD terms change every couple weeks—exhibiting the value of opening a long-term CD. If you see a rate that you like, best to jump on it.
Can I lose money with a CD from a big bank?
You can’t lose money with a CD from a big bank, or any bank really, in the same way that you could with a riskier investment like the stock market. That said, you might effectively “lose” money if the interest you earn is lower than the inflation rate. You won’t be able to access and reinvest your money into something more profitable until your account terms (or unless you pay fees).
Should I keep all my CDs at the same large bank or spread them around?
It’s OK to keep all your money at the same large bank as long as your deposits are covered by the FDIC. This covers up to $250,000 per account holder per ownership category. If you’ve got more than that, it’s worth spreading the money around to other banks to ensure the FDIC covers it all.
Are CD rates at big banks always lower than at smaller online banks?
CD rates at big banks are not always lower than at smaller online banks. It’s true that online banks tend to offer more consistently impressive returns than big banks due to their lack of overhead and lower operational costs. But big banks often issue a handful of APYs that rival the best rates on the market.
