Top CD rates reach 5.25% APY after Fed's September rate hike
The gist
Top CD rates reached 5.25% APY as of Oct. 28, 2026, while the average 12-month CD paid 1.76%.
Savers see a wide gap between average and top yields.
How it unfolded
- 2025The Federal Reserve cut its benchmark rate three times, and many banks lowered CD and savings rates in response.
- Sep 2026The Fed raised its benchmark rate a quarter point, its first increase since 2023, and some CD rates rose afterward.
- Sep 29, 2026In the week ending Sept. 29, as many as 2,000 accounts tracked by CD Valet raised rates, while just 131 lowered them.