State-by-State Best CD Rates 2026 — Online vs Local Bank Availability
The three categories of CD availability
1. National online banks (50-state availability)
The big online-only banks accept deposits from anyone in the U.S. with a valid SSN and address. No geographic restrictions. These typically offer the best straight-up rates because they don't have branch overhead.
- Marcus by Goldman Sachs
- Ally Bank
- Synchrony Bank
- Discover Bank
- Capital One 360
- American Express National Bank
- CIT Bank
- Sallie Mae Bank
- Bask Bank
- Bread Savings
2. Open-membership credit unions
Some credit unions allow anyone to join through a charity donation or association membership. Membership-driven structure often produces slightly higher rates than national banks.
- Alliant Credit Union (donate $5 to Foster Care to Success to join)
- Pentagon Federal Credit Union / PenFed (open membership)
- Bethpage Federal Credit Union (open via $5 deposit to share savings)
- Connexus Credit Union (open via association)
- Consumers Credit Union (open via association)
3. Affiliation-restricted credit unions
The highest rates often come from credit unions with strict eligibility (military, specific employer, geographic). If you qualify, the rates are usually the best available.
- Navy Federal Credit Union (military, family of military)
- USAA (military, family of military)
- State Employees Credit Union (NC residents/family)
- BECU (WA residents)
- Various employer-specific credit unions
California — best CD rates available to CA residents (mid-2026)
| Institution | 1-yr APY | 5-yr APY | Availability |
|---|---|---|---|
| Brokered CDs (Fidelity/Schwab) | ~5.10% | ~4.60-4.85% | Anyone with brokerage |
| Marcus by Goldman Sachs | ~4.85% | ~4.10% | All 50 states |
| Bethpage Federal CU | ~4.95% | ~4.10% | Open membership |
| Synchrony Bank | ~4.75% | ~4.30% | All 50 states |
| Capital One 360 | ~4.50% | ~4.05% | All 50 states |
| Ally Bank | ~4.55% | ~4.05% | All 50 states |
| Patelco Credit Union (CA) | ~4.90% | ~4.25% | CA residents primarily |
| Golden 1 Credit Union (CA) | ~4.85% | ~4.20% | CA residents |
| SchoolsFirst FCU (CA) | ~4.90% | ~4.30% | CA education-affiliated |
CA-specific note: Patelco and Golden 1 are large CA-based credit unions with branches throughout the state. SchoolsFirst requires education-system affiliation (current/retired educators, family). For CA residents, Treasury MMFs (VUSXX) and direct T-bills also offer state-tax-exempt yield that boosts after-tax return relative to CDs. See buying Treasuries.
Texas — best CD rates for TX residents
| Institution | 1-yr APY | 5-yr APY | Availability |
|---|---|---|---|
| Brokered CDs (Fidelity/Schwab) | ~5.10% | ~4.85% | Anyone |
| Marcus / Ally / Synchrony | ~4.75-4.85% | ~4.05-4.30% | All 50 states |
| Frost Bank | ~4.50% | ~3.85% | TX branch network |
| TDECU (Texas Dow Employees) | ~4.95% | ~4.40% | TX residents / employees of partner companies |
| USAA (San Antonio HQ) | ~4.40% | ~3.95% | Military + family nationwide |
| Capital One 360 | ~4.50% | ~4.05% | All 50 states |
TX-specific note: Texas has no state income tax, so the after-tax-yield calculation is simpler — nominal yield is effectively after-tax yield (for state purposes). CDs and Treasuries become more competitive vs each other for TX residents since the Treasury state-tax-exemption advantage disappears. The MYGA's tax-deferral advantage still applies federally.
Florida — best CD rates for FL residents
| Institution | 1-yr APY | 5-yr APY | Availability |
|---|---|---|---|
| Brokered CDs (Fidelity/Schwab) | ~5.10% | ~4.85% | Anyone |
| Suncoast Credit Union | ~4.85% | ~4.20% | FL residents (open membership in FL) |
| Space Coast Credit Union | ~4.80% | ~4.15% | FL residents |
| VyStar Credit Union | ~4.75% | ~4.10% | FL residents |
| Marcus / Ally / Synchrony | ~4.75-4.85% | ~4.05-4.30% | All 50 states |
| Truist Bank | ~4.20% | ~3.75% | FL + Southeast branch network |
Like Texas, Florida has no state income tax. Treasury and CD comparisons are made on nominal yield basis. Strong credit union presence in FL means local options frequently top national online rates by 10-20 bps.
New York — best CD rates for NY residents
| Institution | 1-yr APY | 5-yr APY | Availability |
|---|---|---|---|
| Brokered CDs (Fidelity/Schwab) | ~5.10% | ~4.85% | Anyone |
| Bethpage Federal CU | ~4.95% | ~4.10% | Open membership (Long Island-based) |
| Marcus by Goldman Sachs | ~4.85% | ~4.10% | All 50 states |
| Synchrony Bank | ~4.75% | ~4.30% | All 50 states |
| Discover Bank | ~4.65% | ~4.00% | All 50 states |
| NY State Employees Federal Credit Union | ~4.75% | ~4.20% | State employees + family |
| Ally Bank | ~4.55% | ~4.05% | All 50 states |
NY-specific note: New York's top marginal state tax rate is 10.9% — one of the highest in the nation. Treasury and Treasury-heavy MMF yields net out meaningfully better than CDs for NY residents. NY's state guaranty fund coverage for annuities is $500K per contract holder per carrier (higher than most states' $250-$300K), making MYGAs slightly more attractive for NY residents with $300K-$500K balances.
Ohio, Pennsylvania, Illinois, and other Midwest — best CD rates
| Institution | 1-yr APY | 5-yr APY | State availability |
|---|---|---|---|
| Brokered CDs (Fidelity/Schwab) | ~5.10% | ~4.85% | All states |
| KeyBank | ~4.50% | ~3.95% | OH, IN, MI, PA, NY + 11 others |
| Fifth Third Bank | ~4.45% | ~3.90% | OH, IN, KY, MI + 7 others |
| Huntington Bank | ~4.55% | ~3.95% | OH-headquartered, Midwest network |
| PNC Bank | ~4.40% | ~3.85% | PA-headquartered, national |
| BMO (formerly BMO Harris) | ~4.65% | ~4.10% | IL HQ, multi-state |
| Marcus / Ally / Synchrony | ~4.75-4.85% | ~4.05-4.30% | All 50 states |
| State Employees Credit Union (NC) | ~4.90% | ~4.40% | NC residents/family |
Regional Midwest banks (KeyBank, Fifth Third, Huntington, PNC) often have lower CD rates than national online banks — the relationship value (checking, mortgage, business) is the reason to choose them. For CD-only purposes, brokered CDs or national online banks usually win on rate.
The cross-state strategy — using online banks regardless of residence
The simplest CD strategy for any state: use national online banks. Marcus, Ally, Synchrony, Discover, Capital One 360, American Express NA, and Bread all accept depositors from any state with no geographic restriction. Their rates are typically within 5-20 bps of each other.
For balances over $250K, split across 2-3 of these national online banks for full FDIC coverage. The operational simplicity beats hunting down local credit unions in your specific state.
The exception: If you qualify for Navy Federal (military), USAA (military), State Employees CU (NC), SchoolsFirst (CA educators), or your state-specific high-rate credit union, those rates frequently top national online banks by 30-50 bps. Worth the membership effort for balances over $50K.
For pure rate hunting at any scale, brokered CDs at Fidelity or Schwab usually win by 20-50 bps over even the best direct online bank. The brokered CD market aggregates issuers from across the country — you're not limited to your state's banks.
Related reading
- Jumbo CD vs MYGA
- Brokered CD vs bank CD vs MYGA
- CD rates after Fed rate cuts
- Best MYGA rates — 2026
- How to buy Treasuries
Want my independent take on whether this fits your situation?
I'm Hans Goldstein — independent licensed insurance producer (NPN 20602398), appointed with multiple A-rated carriers. I run side-by-side comparisons against CDs, MYGAs, Treasuries, and MMFs every week for retirees and pre-retirees. Tell me what you're considering and I'll send back a written comparison.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This article is general educational information, not personalized financial, tax, or legal advice. All rates, IRS limits, Social Security PIA factors, IRMAA brackets, FDIC/NCUA coverage, and state guaranty fund coverage figures are current as of the publication date and subject to change. IRMAA brackets and Roth/Traditional IRA limits cited reflect IRS guidance for 2026 and may be updated by the IRS or SSA; confirm current figures at irs.gov and ssa.gov before acting. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he does not sell bank CDs, money market funds, or Treasury securities and is not affiliated with any bank, brokerage, or government agency discussed. No compensation has been received from any third party in connection with this article. Bank CDs are FDIC-insured deposit products; credit union share certificates are NCUA-insured; money market funds are SEC-regulated investment products with no FDIC coverage; Treasuries are direct obligations of the U.S. government; MYGAs are insurance contracts backed by carrier balance sheets and state guaranty associations. These are different product categories with different protections, tax treatments, and trade-offs. Always confirm current rates and tax law with the issuer or a CPA before acting.