Which CD terms offer the best rates and returns this September?

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September 1, 2026 / 4:15 PM EDT / CBS News

A certificate of deposit (CD) account offers multiple advantages for savers in today's economic environment. A fixed interest rate that's higher than many alternatives is one of them. But not all CD accounts will come with the same rate and savers should expect to see a noticeable difference in what they're offered at their local branch and what they can otherwise secure by using an online institution. Since the latter doesn't have the same maintenance costs the former does, it can use those savings to offer better rates to account holders. Which bank you use, however, is only one factor determining the rate you can lock in. The account term, or length, is another critical one to understand.

CD terms can be as short as three months or as long as 10 years. Historically, rates (and, thus, returns) were higher on long-term accounts (those that mature in 18 months or longer). That dynamic then shifted in the volatile interest rate climate of recent years, in which banks often offered higher…

Original source: https://www.cbsnews.com/moneywatch/