Sallie Mae offers the highest 2-year CD rate at 4.20% APY amid stable Fed policy in 2026.
The highest certificate of deposit rate available on July 24, 2026, stands at 4.20% APY, offered by Sallie Mae for a 2-year term. This follows a period of declining rates after the Federal Reserve cut its benchmark rate six times in 2024 and 2025.
Despite the cuts, rates have stabilized in 2026 as the Fed paused further reductions. Shorter-term CDs, particularly those with one-year maturities or less, continue to offer competitive yields near 4%. National averages remain significantly lower, underscoring the advantage of comparing rates across institutions.
Online banks and neobanks are leading the market in offering higher CD rates due to lower operational costs compared to traditional brick-and-mortar institutions.