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After the Federal Reserve issued three interest rate cuts in the final four months of 2024, savers could be forgiven for assuming that the high-interest-earning era for select savings accounts was coming to an end. And after the Fed issued another three cuts in the final months of 2025, that assumption grew even stronger. But the early months of 2026 have left many unsure about this trajectory.
The Federal Reserve paused interest rate cuts in the first two meetings of the year and is widely expected to continue to hold there for the foreseeable future. This has essentially left borrowing costs elevated and maintained the status quo for savers, many of whom can still secure competitive returns with select certificate of deposit (CD) accounts. That said, not every CD term is worth considering now, especially if the goal is to maintain a baseline of flexibility (long-term CDs that mature in 18 months or longer won’t offer that option). But if savers want to earn a competitive rate and prefer not to lock their money away for an extended period, there are still viable, lucrative accounts worth pursuing this April.
So, which CD term is best this month? Below, we’ll examine three worth considering now.
Start by seeing how much interest you could be earning with a top CD account here.
Which CD term is best this April?
If your goal is to lock in the highest CD interest rate this April, consider the following three terms now, before rates change in May:
6-month CD at 4.15%
A 6-month CD can still be found with an interest rate topping out around 4.15% now. That’s equivalent to $4.15 earned for every $100 deposited. But the length here isn’t so prohibitive as to prevent a savings strategy shift by the fall, should market conditions merit a change then. In the interim, you’ll earn the 4%-plus rate through October, which is exponentially more than you’d otherwise receive with a traditional savings account, which has a rate of just 0.39% now.
How much you’ll earn with a $10,000 deposit: $205.39 upon maturity
Get started with a CD account online today.
1-year CD at 4.10%
Want to take a “set it and forget it” approach to your money while still earning a rate over 4% now? Then a 1-year CD account could be for you. With a rate of 4.10%, you’ll still earn a competitive return, and you won’t need to worry about volatile market conditions until the account matures next April. In the interim, you’ll protect your principal and, thanks to the extended interest-earning timeline, earn more interest than the 6-month CD option, even though this account has a slightly lower rate.
How much you’ll earn with a $10,000 deposit: $410.00 upon maturity
9-month CD at 4.05%
At 4.05%, the 9-month CD has the lowest rate on the list, but it’s still competitive and could provide the right combination of an elevated rate and extended protection on your money while still allowing you to regain access to your funds in early 2027. While it may mean foregoing the use of a local banking branch for an online bank (which tends to offer better rates and terms to savers), that strategic shift could be worth it for the end result. Like the 1-year CD option, even though this rate is 10 basis points below the 6-month CD, you’ll still earn more interest thanks to the extended time frame.
How much you’ll earn with a $10,000 deposit: $302.24 upon maturity
The bottom line
The above list is not exhaustive, and savers may be able to find slightly better rates and terms by shopping around online, as they should. But if the goal is to earn a high rate, a decent return and regain access to your money in a short period of time, the above three CD options provide good starting points. Just be sure to calculate your ability to keep the funds in the account untouched until the account hits its maturity date, or an early withdrawal penalty may wipe out all of the interest earned on the account to that point.