🌐 Macro 🌍 United States

18-month CD yields 4.35% APY as Fed holds rates steady in September 2026

Best CD rates today still reach 4.35% APY on an 18-month CD from Marcus by Goldman Sachs, with the Fed holding rates steady in 2026 after six rate cuts over the prior two years.

📅 September 4, 2026 🕐 4 min read

2 assets impacted (Bonds, Stocks). Net bias: 0 Bullish, 0 Bearish, 2 Neutral. Strongest signal: US02Y → 4/10 (55% confidence).

📊 Affected Assets (2)

US02Y

Neutral 🤖 55%

📅 Short-term 🌍 US ✨ Inferred

The article ties CD rates directly to Fed policy, noting deposit rates have fallen after six Fed cuts and are holding as the Fed keeps its benchmark rate unchanged in 2026. Short-term Treasury yields are the market benchmark for CD pricing, so the 2-year yield is set to stay range-bound near the 4.35% APY top CD level until the Fed signals another move.

Catalysts

• Fed has left rates unchanged so far in 2026

Risk Factors

• A surprise Fed cut could drag 2-year yields below current CD levels
• Hiring or inflation data could reignite rate-hike bets and push yields higher

▼ Show FAQ (2) ▲ Hide FAQ

Why is a CD rate article relevant to 2-year Treasury yields?

CD rates and short-term Treasury yields both track the Fed's policy path. When banks set 18-month CD rates, they price off the expected path of the federal funds rate and 2-year yields.

What could move US02Y after this article?

The Fed's next policy decision and inflation or jobs data. A hold in 2026 supports current yield levels; a cut would pull the 2-year yield lower and likely push CD rates down further.

Neutral 🤖 70%

📅 Short-term 🌍 US · Explicit

Marcus by Goldman Sachs offers the best 18-month CD in the article at 4.35% APY, using a top-of-market rate to attract retail deposits. The product supports deposit flows into Goldman's consumer banking arm, though the cost pressure is modest relative to its broader trading and investment banking revenue.

Catalysts

• Top 18-month CD rate of 4.35% APY as of Sept. 4, 2026

Risk Factors

• Rate competition from online banks could push deposit costs higher
• A Fed rate cut later in 2026 would force Marcus to reprice CDs lower

▼ Show FAQ (2) ▲ Hide FAQ

What does the 4.35% APY CD say about Goldman Sachs' strategy?

Marcus is using a market-leading rate to win insured deposits. That supports retail funding for Goldman Sachs but has a small effect on overall earnings.

Is the Marcus CD rate a signal about Fed policy?

Not directly. It signals bank appetite for retail deposits, but the rate remains broadly consistent with short-term yields after the Fed held rates steady in 2026.

🎯 Key Takeaways

The top advertised CD rate on Sept. 4, 2026 is 4.35% APY on an 18-month term from Marcus by Goldman Sachs.
CD rates have trended lower because the Fed cut its benchmark rate three times in late 2024 and three times in 2025.
The Fed's hold in 2026 has kept the best short-term CD yields around 4% APY instead of sliding further.
FDIC national average CD rates remain far below the top advertised rate, making shopping around important.
Online banks and neobanks tend to pay higher CD rates than brick-and-mortar banks because of lower overhead costs.
Credit unions also offer competitive rates, though many require membership by employer, association, or geography.
CDs are federally insured and offer locked-in returns, but early-withdrawal penalties and limited long-term growth remain the main trade-offs.

📝 Executive Summary

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure. If you're looking for a secure place to store your savings, a certificate of deposit (CD) may be a great choice. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely. Learn more about CD rates today and where to find high-yield CDs with the best rates available. Here is a look at some of the best CD rates available today from our verified partners: Today's CD rates vary quite a bit. In general, however, CD rates have been declining for quite some time due to the Fed's decision to cut its benchmark rate three times in the latter part of 2024 and three times in 2025. Even so, with the Fed leaving rates unchanged so far in 2026, some banks are still offering competitive CD rates. For institutions offering competitive rates, top rates reach about 4% APY. This is especially true for shorter terms of one year or less. Today, Friday, September 4, 2026, the highest CD rate is 4.35%. Marcus by Goldman Sachs offers it on its 18-month CD. Compare these rates to the national average as of August 2026 (the most recent data available from the FDIC): This embedded content is not available in your region. Compared with today's top CD rates, national averages are much lower. This highlights the importance of shopping around for the best CD rates before opening an account. Online banks and neobanks are financial institutions that operate solely via the web. That means they have lower overhead costs than traditional brick-and-mortar banks. As a result, they're able to pass those savings on to their customers in the form of higher interest rates on deposit accounts (including CDs) and lower fees. If you're looking for the best CD rates available today, an online bank is a great place to start. However, online banks aren't the only financial institutions offering competitive CD rates. It's also worth checking with credit unions. As not-for-profit financial cooperatives, credit unions return their profits to customers, who are also member-owners. Although many credit unions have strict membership requirements that are limited to those who belong to certain associations or work or live in certain areas, there are also several credit unions that just about anyone can join. Whether or not you should put your money in a CD depends on your savings goals. CDs are considered a safe and stable savings vehicle — they don't lose money (in most cases), are backed by federal insurance, and allow you to lock in today's best rates. However, there are some drawbacks to consider. First, you must keep your money on deposit for the full term; otherwise, you'll be subject to an early withdrawal penalty. If you want flexible access to your funds, a high-yield savings account or money market account might be a better choice. Additionally, although today's CD rates are high by historical standards, they don't match the returns you could achieve by investing your money in the market. If you're saving for a long-term goal such as retirement, a CD won't provide the growth you need to reach your savings goal within a reasonable time frame. Read more: Short- or long-term CD: Which is best for you? We identified the best CD rates and accounts available today based on interest rates, fees, and more. See our top picks across 6-month, 1-year, 18-month, and 2-year terms. 18-month CDs offer a balance of solid returns and flexibility. Find out which banks and credit unions are offering the top 18-month CD rates. Compare today's best 1-year CD rates, see which banks offer the highest yields, and learn how to lock in a guaranteed return on your savings. A 6-month CD allows you to lock in a guaranteed rate on your savings without tying up your money for an extended period. See which banks have the best 6-month CD rates today. A 2-year CD allows you to lock in a guaranteed rate on your savings for the next 24 months. See which banks have the best 2-year CD rates today. Are CD rates expected to go up at all this year? Here's what the experts think about where CD rates are headed in 2026.

❓ FAQ

Why have CD rates been declining?

The Fed cut its benchmark rate three times in late 2024 and three times in 2025. Deposit rates track Fed policy, so bank CD yields have drifted lower since those cuts.

What is the best CD rate available today?

Marcus by Goldman Sachs is offering 4.35% APY on an 18-month CD as of Friday, September 4, 2026, the highest rate among the verified partners listed in the article.

Are CDs better than savings accounts or market investments?

CDs offer federal insurance and a locked-in rate, but they carry early-withdrawal penalties and limit liquidity. High-yield savings accounts work better for flexible cash, while market investments offer higher growth potential for long-term goals.

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