National Rate: Interest Checking
ICNDR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.07
Year-over-Year Change
-12.50%
Date Range
4/1/2021 - 7/1/2025
Summary
The National Rate: Interest Checking (ICNDR) tracks the average interest rates paid on interest checking accounts across U.S. financial institutions. This metric provides insight into consumer banking trends and the overall cost of maintaining liquid bank accounts.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The ICNDR represents a weighted average of interest rates offered by banks and credit unions for checking accounts with interest-earning capabilities. Economists and financial analysts use this indicator to understand consumer banking dynamics and compare returns across different financial institutions.
Methodology
The Federal Reserve calculates this rate by aggregating interest rate data from a comprehensive sample of U.S. banks and credit unions, weighted by their total deposits.
Historical Context
This rate is crucial for understanding consumer banking trends, monetary policy effectiveness, and the competitive landscape of financial services.
Key Facts
- Represents average interest rates for checking accounts nationwide
- Updated periodically to reflect current banking market conditions
- Influenced by Federal Reserve monetary policy and market competition
FAQs
Q: How often is the ICNDR updated?
A: The National Rate is typically updated weekly or monthly by the Federal Reserve to reflect current market conditions.
Q: What factors influence the ICNDR?
A: Interest rates are primarily influenced by Federal Reserve monetary policy, inflation expectations, and overall economic conditions.
Q: How do banks use this national rate?
A: Banks use the ICNDR as a benchmark for setting their own interest rates and remaining competitive in the consumer banking market.
Q: Can consumers use this rate for financial planning?
A: Consumers can use the ICNDR to compare their current checking account rates and identify potentially better banking options.
Q: What are the limitations of the ICNDR?
A: The rate is an average and may not reflect specific rates at individual banks or for specialized account types.
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Citation
U.S. Federal Reserve, National Rate: Interest Checking [ICNDR], retrieved from FRED.
Last Checked: 8/1/2025