# Best Banks for CD Rates for August 2026
Certificate of deposit rates hit attractive levels this month. Savers shopping for CDs in August 2026 have solid options across multiple institutions.
Bask Bank, Bread Savings, E*TRADE, Happen Bank, Limelight, Live Oak, and Marcus by Goldman Sachs all rank among the top CD providers right now. These banks compete aggressively on rates, giving depositors real choices for locking in returns.
CDs remain one of the safest ways to earn guaranteed returns. You deposit money for a fixed term (typically three months to five years) and receive a set annual percentage yield. The FDIC insures deposits up to $250,000 at each bank, protecting your principal fully.
The August 2026 CD landscape favors longer terms. Five-year CDs typically offer better rates than three-month or one-year options. If you can commit your money for an extended period, locking in today's rates makes sense before they shift downward.
Shopping across multiple institutions matters. Online banks like Marcus and Bask generally offer higher yields than brick-and-mortar competitors because they have lower overhead costs. E*TRADE appeals to investors who want to bundle CD purchases with brokerage accounts.
Before committing, read the fine print on early withdrawal penalties. Some banks charge stiff fees if you need your money back before maturity. Others offer more flexible terms. Compare penalty structures alongside stated rates to find your best fit.
Current rate levels remain reasonable for savers tired of ultra-low yields. Lock in what's available now rather than waiting for rates that may never materialize. The banks listed here all offer competitive products worth evaluating based on your timeline and liquidity needs.