National average CD & savings rates (FDIC)
As of the FDIC's June 15, 2026 release, the national average savings account pays 0.38% APY and the average 12-month CD pays 1.65% — both far below widely marketed online rates and the roughly 3.7–4.1% Treasury bill curve.
FDIC national rates and rate caps by product
As of 2026-06-15 (data as of the last business day of May 2026) · Source: FDIC — National Rates and Rate Caps, published monthly · Refreshed monthly on RungRate.
| Product | Term (months) | National average rate (% APY) | National rate cap (%) |
|---|---|---|---|
| Savings account | — | 0.38 | 4.37 |
| Interest checking | — | 0.07 | 4.37 |
| Money market account | — | 0.61 | 4.37 |
| CD | 1 | 0.23 | 5.21 |
| CD | 3 | 1.15 | 5.18 |
| CD | 6 | 1.38 | 5.29 |
| CD | 12 | 1.65 | 5.30 |
| CD | 24 | 1.53 | 5.53 |
| CD | 36 | 1.33 | 5.62 |
| CD | 48 | 1.25 | 5.62 |
| CD | 60 | 1.35 | 5.71 |
The same figures are available as machine-readable JSON at /data/deposit_rates.json — the file RungRate's comparison tools use as the deposit-rate floor benchmark.
What these averages are — and what they are not
The FDIC's national rate is a deposit-weighted average across every insured bank and credit union reporting data: savings and checking at the $2,500 tier, money market and CDs averaged across the $10,000 and $100,000 tiers. Because the weighting follows where deposits actually sit — overwhelmingly at large branch banks that pay near zero — the average describes what the typical dollar earns, not what a rate-shopper can get. The rate-cap column is a regulatory ceiling for less-than-well-capitalized institutions (the higher of the national rate + 75 bp or 120% of comparable Treasury yield + 75 bp); it is not a rate anyone advertises, but it is a useful sanity bound: an FDIC-insured offer above the cap column should prompt a second look at what exactly is being sold.
The gap between the average and the online market
The distance between these averages and widely marketed online accounts is the single most consequential number in cash management. As of mid-2026, competitive online savings accounts advertise in the 4%–5% range and 12-month online CDs around 4%–4.3%, against FDIC averages of 0.38% and 1.65% respectively — a gap of roughly 3–4 percentage points, worth $300–$400 a year per $10,000 of cash. RungRate's tools therefore treat the FDIC average as a floor benchmark: it answers "what happens if I do nothing," while the current T-bill yields table answers "what does the risk-free market actually pay." A saver comparing a specific bank's offer should enter that offer's APY directly into the comparator rather than any average.
The humped CD curve and what it means for ladders
Note the shape of the CD column: averages rise from 0.23% at 1 month to a peak of 1.65% at 12 months, then fall to 1.25%–1.35% at 48–60 months. Banks are pricing in lower future rates and face little competitive pressure in long tenors, so — on average — locking money up longer is not being paid. This inverts the usual logic of a long CD ladder built purely from average-rate banks, and it sharpens the comparison against Treasury bills, where the 2026 curve slopes gently upward (3.69% at 4 weeks to 4.06% at 52 weeks, investment-rate basis) and interest skips state income tax entirely. The 50-state after-tax advantage table quantifies that tax edge; remember also that CDs carry early-withdrawal penalties, typically 60–365 days of interest, while a T-bill can be sold on the secondary market before maturity.
Frequently asked questions
What is the FDIC national deposit rate?
It is the average of rates paid by all insured depository institutions and credit unions for which data are available, weighted by each institution's share of domestic deposits. Savings and checking figures use the $2,500 product tier; money market and CD figures average the $10,000 and $100,000 tiers. The FDIC publishes it monthly.
Why are national average CD rates so much lower than advertised CD rates?
Because the average is deposit-weighted and dominated by large branch banks that pay little on deposits. Widely marketed online banks pay several times the national average — as of mid-2026, competitive 12-month CDs advertise around 4% while the FDIC average is 1.65%. Treat the average as a floor benchmark, not a shopping target.
What is the national rate cap?
A regulatory ceiling, not a market rate: the higher of the national rate plus 75 basis points or 120% of the yield on comparable-maturity Treasuries plus 75 basis points. It limits what less-than-well-capitalized banks may pay on deposits. For savers it is useful only as an upper bound on what any FDIC-insured bank is realistically paying.
How often does the FDIC update national rates?
Monthly, on the third Monday, using data as of the last business day of the prior month. RungRate refreshes this table on the same monthly cadence; the as-of date next to the table shows the release currently reflected.
Why do 36 and 48-month CDs average less than 12-month CDs?
The average CD curve is humped: it peaks at 12 months (1.65%) and declines at 36–48 months (1.33%–1.25%). Banks price longer CDs off expectations of lower future rates and off weaker competition in long tenors, so locking longer does not currently buy a higher average rate.