The best nationally available high-yield savings accounts paid about 4.20% to 4.40% APY as of October 26, 2026, and the top one-year certificates of deposit paid roughly 4.50% to 4.75%, with a handful of longer CDs reaching about 5.15%. Those are the numbers to beat. The catch is how far they sit above what most people actually earn: the FDIC says the national average savings account paid just 0.38% and the average one-year CD paid 1.76% in its October 19, 2026 reading.

What the national averages are

The Federal Deposit Insurance Corporation publishes a monthly snapshot of what banks pay across the country, and it is a sobering baseline. As of October 19, 2026, the FDIC national deposit rates were 0.38% for a savings account, 1.14% for a three-month CD, 1.39% for six months, 1.76% for twelve months, 1.55% for twenty-four months, and 1.41% for sixty months. The FDIC notes these figures are "based on information available as of the last business day of the prior month end," so they lag the market and are weighed down by the large banks that pay almost nothing on deposits.

The gap between that average and the best available rate is the whole story of saving in 2026. Leaving cash in a big-bank savings account paying 0.38% while an online account pays 4.30% costs about $390 a year on every $10,000.

Where the best rates are now

On high-yield savings, several online banks and fintech platforms paid between 4.20% and 4.40% APY in late October 2026. Western Alliance Bank, offered through the Raisin platform, advertised 4.30% with no tiers, no minimum balance and a $1 opening deposit, according to a NerdWallet roundup published in October 2026. CNBC Select listed accounts at 4.20% and above, and SoFi advertised up to 4.40% when a promotional boost was applied, per the Motley Fool's October 24 snapshot. A few accounts advertised higher conditional rates, such as Axos Bank at up to 5% when a linked checking account and deposit requirements are met, though those strings matter.

On CDs, the top one-year rates clustered around 4.50% to 4.75% (E*TRADE was listed at 4.75% in early October), while a small number of longer CDs reached about 5.15%, according to CD Valet. Rates on brokered and promotional CDs move frequently, so the live number on a bank's own page is the one that counts.

Why one-year CDs pay nearly as much as five-year

Normally a bank pays you more to lock your money away for longer. In late 2026 that relationship is flat to inverted: a one-year CD pays almost as much as, and sometimes more than, a five-year CD. The reason sits with the Federal Reserve, which is holding its policy rate at a target range of 3.75% to 4.00% after raising it in September. When the market expects short-term rates to ease over the coming years, banks are reluctant to promise a high rate for five years, so the long end of the CD curve sags.

That is why many savers are keeping CD terms short for now and watching the Fed, which next sets rates on October 28, 2026. You can read how the policy rate feeds through to savings and loan rates in our guide to the federal funds rate today.

High-yield savings or a CD?

The choice is liquidity against certainty. A high-yield savings account keeps your money reachable and its rate floats, up or down, with the market. A CD locks today's rate for the full term but charges an early-withdrawal penalty, often several months of interest, if you break it. Our explainer on how CDs work walks through terms, penalties and laddering, and the piece on APR vs APY shows why the compounding-adjusted APY is the honest number to compare.

One rule of thumb that still holds: money you may need within a few months belongs in savings, not a CD, which is also why an emergency fund is usually held in a high-yield savings account rather than locked away.

What moves these numbers

Three things. First, the Fed: the national average and the best rates both drift with the policy rate, though big banks pass through far less than online banks. Second, competition for deposits: online banks and fintechs lead with higher rates because they have lower costs and want balances. Third, the term you choose, given the flat curve.

A point worth stating plainly: none of these accounts is a place to grow wealth over decades. After tax (CD and savings interest is taxed as ordinary income each year) and after inflation, a 4% account roughly preserves purchasing power rather than building it. The job of cash savings is safety and access, not returns.

Check the account is insured

A high rate means nothing if the institution is not covered. Bank deposits are protected by the FDIC up to $250,000 per depositor, per insured bank, per ownership category; credit union deposits are covered by the NCUA on the same limits. Some fintech apps are not banks themselves and hold your money at partner banks, so the insurance depends on that arrangement; confirm the account is held at an FDIC-insured bank before you deposit.

How to compare offers honestly

Compare the APY, not the interest rate, because APY already accounts for compounding. Read whether the advertised rate is promotional and for how long, whether it requires direct deposit or a linked checking account, and whether it applies to the whole balance or only a tier. For a CD, check the early-withdrawal penalty and whether the rate is fixed for the full term. A 4.40% headline that drops to 3.30% after six months is not the same as a flat 4.30%.

How this tracker is kept

This page records the current top nationally available APYs and the FDIC national averages, each sourced and dated, and is updated when the numbers move rather than rewritten. Every rate here was checked against its source on October 26, 2026. Promotional APYs change often and usually carry conditions, so confirm the current rate, the minimum deposit and any requirements on the bank's own page before opening an account.