The biggest banks in the U.S. (going by FDIC rankings) currently offer CD APYs up to 4.00% as of March 23, 2026, with terms available from two months to 14 months.
Some people just feel more comfortable keeping their money at a bank they know well. If that sounds like you, a CD from one of the major institutions below could check your boxes.
Rates accurate as of March 23, 2026.
What’s the benefit of opening a CD with a big bank?
Trust is a big deal when it comes to your money, and banks like Chase and Bank of America have spent decades building it. That reputation alone makes them attractive—but there are more potential advantages as well.
- Keep all your banking in one place: Chances are you already bank with a major institution for things like checking, savings, even a mortgage. Opening a CD there means one less login to remember and one less bank to keep track of.
- Often more CD options available: Big banks usually (with some exceptions) offer more CD terms and product varieties than you’d find at a smaller bank.
- Get relationship rate bumps: Already have accounts at the bank? You might qualify for a slightly higher APY. Just know that these loyalty rates don’t always beat what a digital-only bank can offer, since online banks save money on things like branches and staffing. Also note that banks operating mostly online (like American Express) are both recognizable brands and often post some of the most competitive CD rates out there.
What is a CD?
A certificate of deposit (CD) has some similarities to a high-yield savings account, though it’s a more restrictive product. You give up flexibility in exchange for what’s usually a more attractive interest rate.
The deal is simple: You put your money in and agree to leave it there for a set term. Withdrawing early triggers early withdrawal penalties, but your interest rate is guaranteed for the full term. Market swings won’t change what you earn.
When the CD matures, your options open up. You can pull out your initial deposit along with the interest earned, transfer it somewhere else, or start a new CD. Typically, the bank will auto-renew your CD if you don’t act, though you’ll have a brief grace period to make a move.
How to choose the best CD type for you
Standard fixed-rate CDs are just one type of account option. There’s a broad swath of specialty products built for various financial scenarios. Here’s what you’re most likely to encounter:
- No-penalty. Withdraw before the term is up without a fee (though your APY will generally be lower than a standard CD).
- Bump-up. Entitles you to request a rate increase if the bank raises the APY on your CD product during your term.
- Jumbo. A tag some banks put on CDs requiring a large minimum deposit. These sometimes offer a higher rate.
- IRA. Combines a CD with the tax advantages of an IRA. You can use existing IRA funds or make new contributions, subject to the annual IRA contribution limit ($7,000 for under-50 individuals; $8,000 for those age 50 and over).
- Business. A safe option for business cash that needs to earn some interest. This account is often available in several variations, much like IRA CDs.
How to choose the best CD term for you
Picking a term is arguably the most important step when you open a CD. It determines the window during which your money is inaccessible without a penalty.
A long term guarantees your APY for an extended stretch, which is ideal when you’ve found a rate you love. You’re insulated if rates fall. But the tradeoff is real: should rates climb during your term, you can’t take advantage unless you’re prepared to pay the early withdrawal penalty.
Boil the decision down to two questions:
- How long can you comfortably go without needing your money?
- What APY comes with the term?
One way to manage these two details is a technique called CD laddering.
What is CD laddering?
A CD ladder spreads your investment across multiple CDs with different terms, so you’re not locked into a single maturity date. It’s a practical way to invest for the long term while maintaining some access to your cash.
Here’s how it might look with a $5,000 investment:
- $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, one CD matures and frees up $1,250 (plus interest). You can use it however you want—including rolling it into a new 24-month CD to extend the ladder.
The takeaway
Major banks offer the widest variety of CD terms and types, plus the comfort of a familiar name. But their rates don’t always lead the market, so comparing options is essential. See our post on the best certificates of deposit to track the top available rates.
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 CD accounts with APYs that may rival the best rates on the market.
