The 1-year CD rates we read on bank pages in October 2026 ranged from 3.50% to 4.50% APY. The highest was Popular Direct at 4.50%. On $10,000 that is about $450 in interest over the term. Rates are fixed for the term once you open the CD, and CDs at FDIC-insured banks are covered up to $250,000 per depositor, per bank, per ownership category.
Rates are dated by each bank’s page: EverBank October 9, 2026, Marcus by Goldman Sachs October 15, 2026, Popular Direct October 5, 2026. Verify the current rate with the bank before opening.
1-year CD Rates We Read
| Bank | APY | Minimum Deposit |
|---|---|---|
| Popular Direct | 4.50% | $10,000 |
| Marcus by Goldman Sachs | 4.40% | $500 |
| EverBank | 3.50% | $1,000 |
A dash or missing bank means we did not read a rate for this term; Ally, Capital One and Synchrony pages did not show readable term-by-term rates when we checked. See best CD rates for more terms.
What a $10,000 1-year CD Earns
| Rate | APY | Interest | Total at Maturity |
|---|---|---|---|
| Popular Direct | 4.50% | $450 | $10,450 |
| Marcus by Goldman Sachs | 4.40% | $440 | $10,440 |
| EverBank | 3.50% | $350 | $10,350 |
| FDIC national average | 1.76% | $176 | $10,176 |
Interest = $10,000 x ((1 + APY)^(months / 12) - 1), assuming the APY is earned for the full term. The FDIC national average is the 12-month CD figure from the FDIC’s rate table as of October 19, 2026.
1-Year CD vs. Savings Account
A 1-year CD fixes your rate for 12 months, while a savings account’s rate can change at any time. Compare the CD rate with a current high-yield savings rate: the FDIC national average savings rate was 0.38% as of October 19, 2026, and Bread Savings’ high-yield savings paid 4.05%. If you may need the money, a savings account or a no-penalty CD keeps it accessible.
Rates and the Fed
The Federal Reserve raised its target range to 3.75%-4.00% on September 16, 2026, after holding at 3.50%-3.75% through July. CD rates follow the policy rate loosely, but each bank sets its own, so compare banks rather than assuming a direction.
Early Withdrawal Penalties
Banks charge interest for withdrawing before maturity, and the amount depends on the bank and term. Examples from bank pages: Ally charges 60 days of interest on a CD of 3 to 24 months (90 days for 25 to 36 months, 120 for 37 to 48, 150 for 49 or more); Capital One charges 3 months of interest on terms of 12 months or less and 6 months on longer terms; Synchrony charges 90 days of simple interest on terms of 12 months or less, 180 days on more than 12 but under 48 months, and 365 days on 48 months or more. We could not read penalty schedules for the other banks, so check the account agreement.
How to Open a 1-year CD
- Compare rates on the banks’ own websites, since aggregator data may lag
- Confirm FDIC or NCUA insurance: coverage is $250,000 per depositor, per institution, per ownership category
- Fund the account by ACH transfer or as the bank directs
- Set a maturity reminder: Ally and Capital One give you 10 days after maturity to withdraw or change terms, and EverBank gives 10 business days
- Plan for tax: CD interest is taxable; the IRS says you include it in income when you receive it or can withdraw it without a substantial penalty, and for a CD longer than one year you report part of the interest each year as original issue discount (IRS Publication 550)
Related Articles
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy