If you've been watching CD rates, July 2026 is delivering some genuinely surprising numbers. A certificate of deposit (CD) is a time-deposit account offered by a bank or credit union: you agree to leave your money on deposit for a fixed term — anywhere from a few months to five years — and in return the institution pays you a guaranteed interest rate for the life of that term. Right now, several institutions are posting rates that would have been almost unthinkable just a few years ago. But big headline numbers deserve careful reading before you move a dollar.

What the live rate table is actually showing you

Every rate you see on a comparison tool — including the Secure Returns compare feed — is expressed as APY, or Annual Percentage Yield. APY is not the same as the raw interest rate (sometimes called the nominal rate). APY accounts for compounding: interest earned during the year is added to your balance, and future interest is calculated on that larger amount. The result is always slightly higher than the nominal rate for any account that compounds more often than once a year. When two CDs show different compounding frequencies, comparing APYs is the apples-to-apples measure.

APY (Annual Percentage Yield)
The effective yearly return after compounding is factored in. Always use this to compare CDs.
Nominal rate
The stated interest rate before compounding. Usually lower than APY.
Term
How long you agree to leave your deposit with the institution. Longer terms often (but not always) pay more.
Minimum deposit
The smallest amount the institution will accept to open that specific CD.
Early withdrawal penalty
A fee — often several months of interest — if you cash out before the term ends.

A snapshot of today's highest CD rates

As of Jul 10, 2026 (illustrative — confirm directly with each institution before acting, as rates can change or be withdrawn at any time), the Secure Returns live compare feed shows the following standouts:

  • PenAir Credit Union — 14.90% APY, 60-month term, $0 minimum deposit. This rate is extraordinarily high relative to the broader market. Before depositing, verify current availability, confirm NCUA insurance coverage for your deposit amount, and read all account terms carefully.
  • California Coast Credit Union — 9.50% APY, terms ranging from 3 months to 5 years, $500 minimum deposit. Again, verify this rate is still live and check which specific term carries it.
  • FastBreak by LoanMart — 5.00% APY, term varies, $1,000 minimum deposit.
  • Pibank — 4.60% APY, term varies, $0 minimum deposit.
  • Suncoast Credit Union — 4.50% APY, term varies, $0 minimum deposit.
  • Bask Bank — 4.40% APY, 12-month term, $1,000 minimum deposit.
  • Genisys Credit Union — 4.40% APY, term varies, $0 minimum deposit.
  • HealthcareBank — 4.36% APY, term varies, $0 minimum deposit.
A rate that looks dramatically higher than the rest of the market almost always warrants extra scrutiny. Verify the institution's FDIC or NCUA insurance status, read the fine print on balance caps and eligible account types, and confirm the rate is still available before transferring funds.

Why credit unions are dominating the top of the table

You'll notice that several of the highest rates above come from credit unions rather than banks. Credit unions are member-owned, not-for-profit cooperatives. Because they don't pay dividends to outside shareholders, they can — though they don't always — return more value to members in the form of higher deposit rates. Deposits at federally chartered or federally insured credit unions are covered by the National Credit Union Administration (NCUA), the credit-union equivalent of the FDIC, up to $250,000 per depositor, per institution, per ownership category.

Membership requirements vary. PenAir Credit Union, for example, has historically served military and Department of Defense employees and their families in the Florida panhandle, though some credit unions allow anyone to join by making a small donation to an affiliated organization. Always check eligibility before assuming you can open an account.

How to read a rate that seems too good to be true

Promotional CD rates — sometimes called specials or limited-time offers — are real, but they often come with strings. Ask these questions before opening any CD at an unusually high rate:

  1. Is the institution FDIC-insured (bank) or NCUA-insured (credit union)? You can verify both at fdic.gov and mycreditunion.gov respectively.
  2. Is there a balance cap on the promotional rate? Some specials apply only to the first $10,000 or $25,000.
  3. Is this a new-money-only offer? Many promotions require funds not already on deposit at that institution.
  4. What is the early withdrawal penalty? For a 60-month CD, a penalty of 12 or 18 months of interest could wipe out much of your gain if you need the money early.
  5. Does the rate apply to the full stated term, or does it step down after an introductory period?

Short-term vs. long-term: which end of the curve pays more right now?

Historically, longer terms paid higher rates — you were compensated for locking your money away longer. In the current environment that relationship is less predictable. Some of the highest rates are on longer terms (see PenAir's 60-month offer), while solid rates exist across the spectrum from 3 months to 12 months as well. If you expect rates to stay elevated or rise further, shorter terms give you flexibility to roll into a new CD at a higher rate when your term matures. If you think rates are near a peak and will drift lower, locking in a long-term CD now captures today's rate for years to come. Neither view is guaranteed to be correct — that's a judgment call best made with your own timeline and risk tolerance in mind, ideally with input from a financial professional.

FDIC and NCUA insurance: what's covered, what's not

FDIC insurance (for banks) and NCUA insurance (for credit unions) protect depositors up to $250,000 per depositor, per institution, per ownership category in the event the institution fails. That limit applies to the combined total of all deposits at that institution in a given ownership category — checking, savings, and CDs all count together. If you're depositing more than $250,000 with a single institution, you may need to spread funds across multiple institutions or ownership categories to stay fully covered. For a deeper look at how to stay insured above the single-institution limit, see our guide at /secure-returns/learn/fdic-ncua-insurance-limits-how-to-stay-covered-above-250k/.

One important distinction: bank CDs vs. the Limen Markets Secure Returns product

The CDs described throughout this article are ordinary bank and credit-union deposit accounts, each insured by the FDIC or NCUA up to applicable limits. Limen Markets also offers a separate product — Secure Returns — which is an SPV-wrapped portfolio of multi-bank CDs structured as a security. That product is offered only to accredited investors under Regulation D, is not a bank deposit, is not FDIC- or NCUA-insured, and involves risks including possible loss of principal. It is a fundamentally different instrument from the individual CDs discussed here. This article is about the latter.

Your next step

Rates on the table above are illustrative as of Jul 10, 2026 and may have changed by the time you read this. To see live, up-to-date figures and filter by term, minimum deposit, and institution type, visit the Secure Returns compare tool at /preview/secure-returns/compare/. Always confirm the current rate directly with the issuing bank or credit union before opening an account.