APYs listed in this article are up-to-date as of the time of publication. CNBC Select will update as changes are made public.
With the economic volatility that has defined 2026, many consumers are looking for short-term investments that will help them grow their money while keeping it accessible and relatively safe.
Whether you’re building an emergency fund, saving to buy a new car, or simply looking to earn better returns than a traditional savings account, the right investment vehicle can make a significant difference.
Learn about the five best short-term investment options for 2026, along with the financial institutions that offer the most competitive rates and features.
5 best short-term investments
Best for staying flexible: High-yield savings accounts
Happen Bank LevelUp Savings
Happen Bank, N.A., Member FDIC
-
Annual Percentage Yield (APY)
4.00% (with monthly deposits of $250 or more), or 3.00%
-
Minimum balance
-
Monthly fee
-
Maximum transactions
-
Excessive transactions fee
-
Overdraft fees
-
Offer checking account?
-
Offer ATM card?
Best for a set-it-and-forget-it timeline: CDs
Unlike an HYSA, a certificate of deposit, or CD, has a fixed rate for a specific term, anywhere from three months to five years (or even longer in some cases). In exchange for that predictability, you can’t access the funds in a traditional CD before it matures without paying a penalty.
That makes CDs a poor choice for something like an emergency fund. But if you know you won’t need the money for several months, or even years, it’s a great, low-maintenance option
We like Ally Bank and Synchrony Bank for their competitive APYs and for offering specialty CDs, such as add-on CDs that allow you to make additional contributions, and no-penalty CDs, which let you withdraw your money before maturity.
Ally Bank® CDs
Ally Bank® is a Member FDIC.
-
Annual Percentage Yield (APY)
-
Terms
-
Minimum balance
-
Monthly fee
-
Early withdrawal penalty fee
For terms of 3 months or less, the early withdrawal penalty is 30 days of interest; for terms of 3 to 24 months, its 60 days of interest; for terms of 25 to 36 months it’s 90 days of interest; for terms of 37 to 48 months, it’s 120 days of interest and for terms of 49 months or longer the penalty is the loss of 150 days of interest. With a no-penalty CD, you can withdraw all funds any time after the first 6 days from funding. (Partial withdrawals are prohibited.)
Synchrony Bank CDs
Synchrony Bank is a Member FDIC.
-
Annual Percentage Yield (APY)
-
Terms
From 3 months to 60 months
-
Minimum balance
-
Monthly fee
-
Early withdrawal penalty fee
There may be an early withdrawal penalty if you withdraw funds from the principal prior to the CD maturity date (the last day of the CD term). The penalty is applied to the amount of principal withdrawn (there’s no penalty on interest). For the No-Penalty CD, early withdrawals are not permitted within the first 6 days after account funding. Following that, only withdrawal of the entire balance is allowed.
APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest for your CD type in effect at that time.
Best for spending straight from savings: Money market accounts
Money market accounts, or MMAs, are also stable vehicles for your short-term investments. They combine the elevated return of a HYSA with checking account features, such as check-writing privileges, debit cards, ATM access and out-of-network ATM fee reimbursements.
ZYNLO Bank’s money market account lets you get started with just $10 and earns a strong rate with no monthly fees, no transaction limits and no minimum balance requirement.
ZYNLO® Money Market Account
ZYNLO® is a Member FDIC and a registered trademark of PeoplesBank.
-
Annual Percentage Yield (APY)
-
Minimum balance
$10 minimum deposit; $.01 minimum balance to obtain APY
-
Monthly fee
-
Offer checks?
-
Offer debit/ATM card?
Pros
- Above-average APY on balances up to $250,000, with no monthly fees or transaction limits standing in the way.
- Only a $10 minimum deposit to open, making it one of the most accessible money market accounts available.
- All deposits above the FDIC limit are fully insured by the Deposit Insurance Fund, giving you unlimited coverage protection.
Cons
- The top APY is only available on balances up to $250,000, with higher balances earning a lower rate.
- No check-writing privileges or debit/ATM card access, so funds must be transferred to an external account to access them.
- No physical branch locations, so all banking is handled online or by phone.
We also like Quontic Bank for having one of the highest APYs we’ve seen in an MMA, plus both check-writing privileges and a debit/ATM card. There’s no monthly fee and no balance cap on the APY.
Quontic Bank Money Market Account
Quontic Bank is a Member FDIC.
-
Annual Percentage Yield (APY)
-
Minimum balance
-
Monthly fee
-
Offer checks?
-
Offer debit/ATM card?
Pros
- Highest APY on this list with no balance cap, so every dollar in your account earns the same competitive rate.
- Comes with both check-writing privileges and a debit/ATM card, making it one of the more accessible money market accounts for everyday use.
- No monthly fees, keeping your earnings fully intact.
- Physical branch locations available for customers who prefer in-person banking.
Cons
- $100 minimum deposit required to open the account.
Best for dependable income: Government bonds
Issued by the U.S. government, government bonds are very safe and low-risk, making them ideal as short-term investments. Plus, they offer reliable income. The market for U.S. government bonds is also highly liquid, so you can sell and access your money easily. The best way to buy government bonds is directly through the government’s TreasuryDirect.gov.
In addition to purchasing bonds directly, you can also invest in a government bond fund. Bond funds give you access to various types of bonds so you can invest in a mix.
Best for a quick turnaround: Treasury bills
Treasury bills, or T-bills, are a type of fixed-income security issued by the government with a short maturity term of within a year. T-bills are nearly risk-free and highly liquid, which means they are very safe places to park the cash you’ll need soon.
Keep in mind, however, that T-bill returns typically react inversely with the Federal Reserve benchmark rate; a higher rate set by the Fed means lower returns on T-bills. In contrast, high-yield savings and CDs usually raise their rates as the benchmark rate goes up.
You can purchase T-bills directly from the government via TreasuryDirect.gov or through brokerages like Fidelity and Charles Schwab.
Fidelity Investments
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Fidelity Go® account, but minimum $10 balance according to the investment strategy chosen
-
Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock, ETF, options trades and some mutual funds; zero transaction fees for over 3,400 mutual funds; $0.65 per options contract. Fidelity Go® has no advisory fees for balances under $25,000 (0.35% per year for balances of $25,000 and over and this includes access to unlimited 1-on-1 coaching calls from a Fidelity advisor)
-
Bonus
-
Investment vehicles
Robo-advisor: Fidelity Go® IRA: Traditional, Roth and Rollover IRAs Brokerage and trading: Fidelity Investments Trading Other: Fidelity Investments 529 College Savings; Fidelity HSA®
-
Investment options
Stocks, bonds, ETFs, mutual funds, CDs, options and fractional shares
-
Educational resources
Extensive tools and industry-leading, in-depth research from 20-plus independent providers
Charles Schwab
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No account minimum for active investing through Schwab One® Brokerage Account. Automated investing through Schwab Intelligent Portfolios® requires a $5,000 minimum deposit
-
Fees
Fees may vary depending on the investment vehicle selected. Schwab One® Brokerage Account has no account fees, $0 commission fees for stock and ETF trades, $0 transaction fees for over 4,000 mutual funds and a $0.65 fee per options contract
-
Investment vehicles
Robo-advisor: Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ IRA: Charles Schwab Traditional, Roth, Rollover, Inherited and Custodial IRAs; plus, a Personal Choice Retirement Account® (PCRA) Brokerage and trading: Schwab One® Brokerage Account, Brokerage Account + Specialized Platforms and Support for Trading, Schwab Global Account™, Schwab Organization Account and Schwab Trading Powered by Ameritrade™
-
Investment options
Stocks, bonds, mutual funds, CDs and ETFs
-
Educational resources
Extensive retirement planning tools
What is a short-term investment?
A short-term investment is a place to put cash you’ll need within the next three years — whether for a down payment on a home, a wedding, college tuition or to fill out your emergency fund. Because the money has a job to do soon, the goal isn’t to chase the highest possible return but rather to keep the cash safe, liquid and growing a little faster than it would in a checking account.
That’s different from long-term investing, where you can ride out market swings in stocks or funds because you won’t need the money for decades. With short-term investments, protecting your principal typically matters more than maximizing growth.
What good short-term investments have in common
The best options for short-term goals tend to share a few traits:
- Low risk: Your principal is typically protected through FDIC insurance or government backing, rather than exposed to market swings.
- Liquidity: You can access your cash on a predictable timeline, without steep penalties, when you actually need it.
- Competitive, often variable returns: Rates move with the broader interest-rate environment rather than locking you in for years (CDs and T-bills are the exception).
- Low or no fees: Maintenance fees and early-withdrawal penalties are minimal, so they don’t eat into modest short-term gains.
- Modest minimum requirements: Most don’t require a large opening deposit, so they’re accessible no matter your balance.
How to choose the right short-term investment
- Match the term to your timeline – If you know exactly when you’ll need the money, a CD or T-bill with a matching maturity date can lock in a rate. If your timeline is fuzzy, stick with something liquid like a high-yield savings or money market account.
- Compare APYs across several banks – Online banks often offer higher rates than brick-and-mortar institutions meaningfully since they carry lower overhead costs.
- Watch for withdrawal limits and fees – Even without a federal cap, many banks still enforce their own transfer limits, so be sure to check the fine print before you open an account.
- Consider laddering CDs or T-bills – Splitting your cash across multiple maturity dates gives you regular access to portions of your money while still capturing higher fixed rates.
- Don’t chase yield at the expense of safety – For money you can’t afford to lose, stay within FDIC-insured or government-backed options.
- Recheck rates periodically – Because many of these rates are variable, a top account today may not stay competitive, so it’s worth comparing every several months again.
FAQs
What’s the difference between a high-yield savings account and a regular savings account?
A high-yield savings account works just like a traditional savings account but offers a significantly higher APY, typically several times the national average. HYSAs are most commonly offered by online banks, which have lower overhead costs and can pass those savings onto customers in the form of better rates.
Are CDs a good short-term option?
CDs can be a strong short-term option if you have a set timeline and want a guaranteed, fixed rate for the length of the term, which can be as short as three months. The main trade-off is that withdrawing your money before the CD matures usually triggers an early withdrawal penalty, so they work best when you know you won’t need the funds right away.
Are Treasury bills safe?
Yes, T-bills are safe because they’re backed by the full faith and credit of the U.S. government, which makes them one of the safest short-term investments available. They also carry a tax advantage since the interest earned is exempt from state and local income taxes, which can make their effective yield more competitive than it looks on paper.
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every investing guide is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of investment accounts. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.