CD rate report · October 2026
The typical 1-year CD pays 3.30%, and the top tenth pay 4.05% or more. Where you live and where you bank decide which you get.
Published October 21, 2026 · Rates checked Oct 15–17
Each month we compare CD rates at every term from 3 months to 5 years, from the banks and credit unions we track, and by state and metro. These are this month’s findings; each has its own link to share.
Finding 1
On $10,000, a typical 1-year CD earns about $330 in a year, and one in the top tenth $405 or more. 577 of the 5,318 pay under 1%, less than $100.
Source: Carrot Rate, CD rate report, October 2026
Finding 2
The typical CD peaks at 9 months (3.50%) and pays 3.02% at 5 years. The top tenth of online banks’ 5-year CDs pay 5.11% or more, against 4.56% for 1 year.
Source: Carrot Rate, CD rate report, October 2026
Finding 3
Comparing each institution’s best 1-year CD. On the typical CD, credit unions pay more than banks at every term: 3.40% against 3.05% for 1 year.
Source: Carrot Rate, CD rate report, October 2026
Finding 4
The typical 1-year CD at institutions with branches in Utah pays 3.95%, 1.35 points more than in Illinois. Half the states sit between 3.02% and 3.45%.
| State | Typical | Top 10% from | Institutions |
|---|---|---|---|
| Utah | 3.95% | 4.25% | 72 |
| Louisiana | 3.57% | 4.05% | 90 |
| Maryland | 3.55% | 4.15% | 91 |
| Colorado | 3.50% | 4.00% | 100 |
| Georgia | 3.50% | 4.07% | 94 |
| Idaho | 3.50% | 4.00% | 45 |
| Ohio | 3.50% | 4.06% | 248 |
| Oklahoma | 3.50% | 4.00% | 97 |
| Texas | 3.50% | 4.08% | 371 |
| District of Columbia | 3.48% | 4.31% | 57 |
| Alabama | 3.45% | 4.05% | 85 |
| Florida | 3.45% | 4.15% | 174 |
| Maine | 3.45% | 4.04% | 68 |
| Montana | 3.38% | 4.06% | 46 |
| Missouri | 3.35% | 4.10% | 162 |
| Michigan | 3.30% | 4.06% | 197 |
| North Dakota | 3.30% | 4.10% | 49 |
| South Dakota | 3.30% | 4.01% | 45 |
| Wyoming | 3.30% | 3.82% | 32 |
| Tennessee | 3.29% | 4.11% | 128 |
| Nevada | 3.28% | 4.05% | 38 |
| Arizona | 3.25% | 4.15% | 65 |
| California | 3.25% | 4.00% | 250 |
| Kansas | 3.25% | 4.00% | 135 |
| Massachusetts | 3.25% | 4.00% | 185 |
| Minnesota | 3.25% | 4.00% | 163 |
| Virginia | 3.25% | 4.05% | 121 |
| Washington | 3.25% | 4.00% | 104 |
| New York | 3.22% | 4.15% | 262 |
| New Mexico | 3.16% | 4.00% | 58 |
| South Carolina | 3.15% | 4.00% | 70 |
| Pennsylvania | 3.14% | 4.00% | 286 |
| North Carolina | 3.13% | 4.00% | 86 |
| Kentucky | 3.10% | 4.05% | 96 |
| Indiana | 3.05% | 4.00% | 155 |
| Alaska | 3.04% | 3.79% | 17 |
| New Hampshire | 3.04% | 4.00% | 51 |
| New Jersey | 3.02% | 4.05% | 132 |
| Oregon | 3.02% | 3.75% | 67 |
| Delaware | 3.01% | 4.10% | 31 |
| Hawaii | 3.00% | 3.95% | 44 |
| Iowa | 3.00% | 4.04% | 143 |
| Nebraska | 3.00% | 4.05% | 115 |
| Rhode Island | 2.85% | 4.00% | 24 |
| Mississippi | 2.82% | 4.04% | 59 |
| Arkansas | 2.75% | 4.04% | 57 |
| Connecticut | 2.75% | 4.04% | 82 |
| Vermont | 2.75% | 3.73% | 22 |
| Wisconsin | 2.75% | 4.00% | 199 |
| West Virginia | 2.70% | 3.82% | 71 |
| Illinois | 2.60% | 3.92% | 273 |
Source: Carrot Rate, CD rate report, October 2026
Finding 5
Chicago’s typical 1-year CD pays 2.21%, the lowest of these large metros, but its top tenth pay 4.00%. Baltimore leads at 3.60%.
Source: Carrot Rate, CD rate report, October 2026
Nationwide. Each term links to today’s best rates.
| Term | Typical | Top 10% from | Banks | Credit unions | Online banks | Typical to top 10% |
|---|---|---|---|---|---|---|
| 3-month | 2.00% | 3.70% | 1.76% | 2.18% | 3.15% | |
| 6-month | 3.25% | 4.00% | 3.04% | 3.25% | 3.85% | |
| 9-month | 3.50% | 4.08% | 3.40% | 3.55% | 4.00% | |
| 1-year | 3.30% | 4.05% | 3.05% | 3.40% | 4.13% | |
| 18-month | 3.22% | 4.07% | 2.88% | 3.30% | 4.20% | |
| 2-year | 3.05% | 4.05% | 2.75% | 3.25% | 4.00% | |
| 3-year | 3.00% | 4.00% | 2.50% | 3.15% | 4.00% | |
| 4-year | 3.00% | 3.97% | 2.50% | 3.20% | 3.83% | |
| 5-year | 3.02% | 4.02% | 2.52% | 3.25% | 3.85% |
The figures come from the rates we collect from banks’ and credit unions’ own websites, the same as our CD pages: standard and special CDs for a personal account, at $10,000. Typical is the middle rate: half pay more. The top 10% is the rate the best-paying tenth pay or beat.State and metro figures cover the institutions with branches there, and need at least ten of them. How we collect rates
You’re free to republish the charts and figures in this report, in print or online, under CC BY 4.0: credit Carrot Rate and link to this report. Each chart has an image with the credit on it, its data, and code to embed it.
Carrot Rate, “CD rates, October 2026: the best pay 4.05% or more”, October 2026. carrotrate.com/reports/cds/2026-10
For more data, another place or a comment, email press@carrotrate.com.
