Weekly National Rates and Rate Caps

On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the “national rate” as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below.

For more information. see Financial Institution Letter FIL-25-2009

Rates updated September 23, 2013

Non-Jumbo Deposits (< $100,000)

Deposit Products National Rate 1 Rate Cap 2
Savings 0.06 0.81
Interest Checking 0.04 0.79
Money Market 0.09 0.84
1 month CD 0.06 0.81
3 month CD 0.08 0.83
6 month CD 0.12 0.87
12 month CD 0.20 0.95
24 month CD 0.33 1.08
36 month CD 0.46 1.21
48 month CD 0.58 1.33
60 month CD 0.75 1.50

Jumbo Deposits (≥ $100,000)

Deposit Products National Rate 1 Rate Cap 2
Savings 0.06 0.81
Interest Checking 0.04 0.79
Money Market 0.14 0.89
1 month CD 0.07 0.82
3 month CD 0.09 0.84
6 month CD 0.13 0.88
12 month CD 0.21 0.96
24 month CD 0.35 1.10
36 month CD 0.48 1.23
48 month CD 0.61 1.36
60 month CD 0.78 1.53

The FDIC began posting the National Rate and Rate Cap on May 18, 2009. Data is not available prior to May 18, 2009. This historical data can be accessed at Previous Rates

1 National rates are calculated based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Data used to calculate the national rates are gathered by RateWatch. Savings and interest checking account rates are based on the $2,500 product tier while money market and certificate of deposit are based on the $10,000 and $100,000 product tiers for non-jumbo and jumbo accounts, respectively. Account types and maturities published in these tables are those most commonly offered by the banks and branches for which we have data – no fewer than 49,000 locations and as many as 81,000 locations reported. The deposit rates of credit unions are not included in the calculation.

2 The rate cap is determined by adding 75 basis points to the national rate. To determine conformance with the regulation, compare rates offered by the institution, based on size and maturity of the deposit, to the rate caps. For accounts less than $100,000 use the applicable rate cap under the non-jumbo column, and for accounts $100,000 and over, use the rate caps under the jumbo column. Interpolation should be used for deposits with maturities not listed above.

To Your Health,Randy Kelley

Owner -Agent
Texas License #1638945
National Producer # 6553301

Kelley Insurance
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