SEATTLE — Certificate of deposit rates remain competitive midway through 2026, although significant differences between institutions continue to create opportunities for savers willing to shop for higher yields, according to a new analysis released by CD Valet.
The company reported its Midyear APY Checkpoint report found that the median annual percentage yield (APY) for a 12-month certificate of deposit stood at 3.20% as of June 22, while rates in the top 10% of the market reached 3.80% APY or higher.
According to CD Valet, the findings reflect a deposit market that remains competitive but increasingly complex as consumers seek ways to preserve purchasing power amid ongoing inflation concerns.
The analysis found substantial variation in CD rates, even among products with identical terms. CD Valet reported that savers can typically find spreads of 0.8 to 1 percentage point between average top offers and the best available rates, with differences reaching as much as 1.4 percentage points for 48- and 60-month CDs.
Key Findings
Among the report’s key findings:
- The median APY for 12-month CDs was 3.20% as of June 22.
- The top 10% of 12-month CD rates offered yields of 3.80% APY or higher.
- Rate spreads between average top offers and the best available rates ranged from 0.8% to 1.0% for many CD terms.
- Longer-term CDs showed spreads of up to 1.4%.
- Top rates were clustered around 4.50% for four- to 13-month CDs, 4.45% for 48- to 60-month CDs and 4.40% for terms of 89 months or longer.
CD Valet said the relatively flat yield curve has reduced the incentive for savers to lock money into longer-term CDs, as the highest rates available for short- and long-term products remain closely aligned.
‘Chipping Away’
“Halfway through the year, inflation is still top of mind for savers, with the inflation rate at a three-year high around 4.2% steadily chipping away at money sitting in checking accounts,” Mary Grace Roske, head of marketing and communications for CD Valet, said in a statement.
Roske said the differences in CD rates across institutions demonstrate the value of comparing offers before committing funds.
“With the market relatively flat, savers can often earn strong returns without locking funds away for years,” Roske said. “Taking the time to compare options and use the right tools can make a real difference in protecting purchasing power and ensuring every dollar works harder in an uncertain market.”
