National Rate Cap: Interest Checking
ICNRC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.08
Year-over-Year Change
-16.45%
Date Range
4/1/2021 - 7/1/2025
Summary
The National Rate Cap for Interest Checking represents the maximum interest rate paid on interest checking accounts across U.S. financial institutions. This metric provides critical insight into banking compensation and consumer savings opportunities.
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
This economic indicator tracks the ceiling rate for interest-bearing checking accounts, reflecting current monetary policy and banking sector competitiveness. Economists use this trend to understand consumer banking dynamics and potential shifts in financial market liquidity.
Methodology
The rate is calculated by aggregating interest rates from a representative sample of U.S. banks and financial institutions, weighted by their total deposits.
Historical Context
Policymakers and financial analysts use this data to assess banking sector health, consumer savings potential, and broader monetary policy implications.
Key Facts
- Represents maximum interest rates for checking accounts nationwide
- Reflects current monetary policy and banking sector trends
- Updated periodically to capture current financial market conditions
FAQs
Q: How often is the National Rate Cap updated?
A: The rate is typically updated quarterly to reflect current market conditions and monetary policy changes.
Q: What factors influence the National Rate Cap?
A: Federal Reserve monetary policy, inflation rates, and overall economic conditions significantly impact the national interest checking rate.
Q: How do consumers use this information?
A: Consumers can use this rate to compare bank offerings and make informed decisions about where to open checking accounts.
Q: Does the rate apply to all banks?
A: The rate is a national average and benchmark, but individual banks may offer rates above or below this cap.
Q: What are the limitations of this data?
A: The rate represents an aggregate measure and may not precisely reflect rates at specific local or regional banks.
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Citation
U.S. Federal Reserve, National Rate Cap: Interest Checking [ICNRC], retrieved from FRED.
Last Checked: 8/1/2025