Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
12-Month CD Rates Rise to 2.989% as All Eight CD Terms Move Higher
Average CD rates rose on all eight terms between October 5 and October 12. 12-month CD rates rose 0.038 points to 2.989%, and 48-month CD rates rose 0.041 points to 2.804%, the largest change of the week.
Average certificate of deposit rates rose on all eight terms we track between October 5 and October 12. 48-month CD rates rose 0.041 points to 2.804%, the largest change of the week, 60-month CD rates rose 0.039 points to 2.900%, and 12-month CD rates rose 0.038 points to 2.989%. 3-month CD rates rose 0.017 points to 1.996%, the only average under 2%.
Key takeaways
- All eight CD terms rose; 48-month CD rates rose 0.041 points to 2.804%, the largest change, and the average across all eight terms rose to 2.754% from 2.724%.
- 12-month CD rates rose 0.038 points to 2.989%, the highest of the eight term averages; a $10,000 deposit earns about $298.90 a year at that average.
- 3-month CD rates rose 0.017 points to 1.996%, 0.004 points under 2%; 60-month CD rates rose 0.039 points to 2.900%.
- The Federal Reserve benchmark has been 3.75% to 4.00% since September 16; a CD rate is fixed for the full term once the CD is opened.
All eight CD terms rose this week
Short and mid-term CD rates, national average APY since April 13
Average APYs from MonitorBankRates.com's nightly collection, updated daily. Figures in the text and table are this report's verified averages and can differ slightly from the nightly series.
48-month CD rates rose 0.041 points to 2.804%, 60-month CD rates rose 0.039 points to 2.900%, 12-month CD rates rose 0.038 points to 2.989%, 36-month CD rates rose 0.035 points to 2.812%, and 24-month CD rates rose 0.031 points to 2.887%. 6-month CD rates rose 0.018 points to 2.777%, 3-month CD rates rose 0.017 points to 1.996%, and 18-month CD rates rose 0.016 points to 2.865%. Across all eight terms the average rose to 2.754% from 2.724%.
Longer-term CD rates, national average APY since April 13
Average APYs from the nightly collection, updated daily.
12-month CD rates rose to 2.989%
12-month CD rates averaged 2.936% on September 28, 2.951% on October 5 and 2.989% this week. A $10,000 deposit at the 2.989% average earns about $298.90 over a year. The 24-month through 60-month averages sit between 2.804% and 2.900%.
Weekly change by CD term (percentage points)
This report's verified averages, October 5 to October 12. Green bars rose; red bars fell.
CD rates this week: October 5 vs. October 12
| CD Term | October 5 APY | October 12 APY | Weekly Change |
|---|---|---|---|
| 12-Month CD ▲ | 2.951% | 2.989% | ▲ +0.038 |
| 60-Month CD ▲ | 2.861% | 2.900% | ▲ +0.039 |
| 24-Month CD ▲ | 2.856% | 2.887% | ▲ +0.031 |
| 18-Month CD ▲ | 2.849% | 2.865% | ▲ +0.016 |
| 36-Month CD ▲ | 2.777% | 2.812% | ▲ +0.035 |
| 48-Month CD ▲ | 2.763% | 2.804% | ▲ +0.041 |
| 6-Month CD ▲ | 2.759% | 2.777% | ▲ +0.018 |
| 3-Month CD ▲ | 1.979% | 1.996% | ▲ +0.017 |
| Term-specific rate pages: 6-month CD rates · 24-month CD rates · 36-month CD rates · 60-month CD rates | |||
| All APYs are national averages of what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates. This report compares October 12 with October 5. Source: MonitorBankRates.com. | |||
CD rates 26 days after the Fed's increase
The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16, its first increase since 2023, and the benchmark has been at that level since. A CD's rate is fixed for the full term once the CD is opened, so changes in new-offer pricing reach only savers opening new CDs.
What a $10,000 deposit earns at the October 12 averages
A $10,000 deposit earns about $298.90 over a year at the 2.989% 12-month average and about $290.00 at the 2.900% 60-month average, per year of the term. The CD calculator starts from today's national average APY for whichever term you pick, computed from CD rates published by more than 8,000 banks and credit unions and updated every day, and it can load your state's averages instead of the national figures. The CD ladder calculator prices every rung of a ladder from the live average for that rung's own term. Savers checking local offers can line up Ohio CD rates against the national averages, and term-by-term history is on our CD rate history page.
CD averages on October 12
12-month CDs average 2.989%, 18-month CDs 2.865%, 60-month CDs 2.900%, and the average across all eight terms is 2.754%. A CD's rate is fixed for the full term once opened, and the APY any saver gets depends on the institution, the term, and the deposit amount.
Data Coverage & Methodology
All APYs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates.
As of October 12, 2026, these averages were calculated from 44,821 individual rates verified across all 8 terms; the latest collection ran October 11, 2026. The table below shows how many institutions reported rates for each term.
| CD Term | Institutions | Rates Verified |
|---|---|---|
| 3-Month CD | 1,763 | 2,911 |
| 6-Month CD | 3,470 | 6,169 |
| 12-Month CD | 3,774 | 8,009 |
| 18-Month CD | 2,373 | 4,438 |
| 24-Month CD | 3,426 | 6,823 |
| 36-Month CD | 3,147 | 6,234 |
| 48-Month CD | 2,524 | 4,805 |
| 60-Month CD | 2,681 | 5,432 |
| Total | 44,821 |
This report is for general information and is not financial advice. The APY any saver receives depends on the institution, balance, and location; confirm current offers with institutions before making decisions.
