NEW YORK, September 1, 2026, 12:25 EDT —
- The leading one-year CD offered 4.35% APY, versus the FDIC’s 1.71% national average.
- That 2.64-point gap equals $264 of annual interest on a $10,000 deposit.
- The Federal Reserve’s 3.50%-3.75% target range anchors September’s deposit-pricing contest.
The best broadly available one-year certificate of deposit paid 4.35% on Tuesday. That was 2.64 percentage points above the FDIC’s latest national average.
The gap matters more than small changes in the headline rate. A $10,000 balance earns $435 at 4.35%, against $171 at 1.71%.
September’s deposit-rate stack
Annual percentage yield or policy range, percent
As of . Sources: Fortune/Curinos, Bankrate, FDIC, Federal Reserve.
Offers across the full market reached 4.50% APY on September 1. The maximum appeared on selected three-, four- and five-year terms.
The national curve tells a different story. Average APYs peak at 12 months, then decline through four years.
The average CD curve peaks at one year
FDIC national average APY by maturity
Source: FDIC National Rates and Rate Caps, August 17, 2026.
That inversion removes the usual reward for a longer lockup. It also leaves careful shoppers far above the deposit-weighted average.
For banks, the dispersion shows that deposit costs remain highly selective. Institutions can pay up for targeted funding without repricing every account.
Industry data support that split. Second-quarter net interest margin edged up to 3.32%, while domestic deposits grew 0.8%. Quarterly bank profit reached $90.1 billion.
One year, three cash outcomes
Interest on a $10,000 deposit, using stated APY
Arithmetic assumes a full one-year holding period. Rate sources: FDIC and Bankrate, September 1, 2026.
Terms still matter. The Consumer Financial Protection Bureau says early withdrawals generally trigger penalties. Savers should compare maturity dates, APYs and penalty schedules.
Federal insurance also has limits. Standard coverage is $250,000 per depositor, insured bank and ownership category.
The Federal Reserve held its target range at 3.50%-3.75% in July. Its next scheduled decision arrives September 16.
Risks: Advertised APYs can change without notice. Minimum deposits, regional limits and early-withdrawal penalties can erase part of the apparent advantage.
September’s spread is the useful signal. Funding remains cheap on average, but expensive at the competitive edge.
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