FRONT PORCH MONEY · Issue #4 · Saturday Rate Watch
Good morning. Here's what safe money is paying this week, in plain dollars.
THE BIG ONE: What $10,000 earns this week
What changed: Six-month Treasury bills dipped a little this week. On $10,000, one now pays about $431 a year, or 4.31%. That's as of Oct. 22. On Oct. 19, it was about $438, or 4.38%.
The Federal Reserve meets Oct. 27–28. We don't guess what it will do. Just know savings rates can change at any time.
What it means for your check: Put $10,000 in the best online savings account we found. It would earn about $427 in a year, or 4.27% APY, if the rate holds. At the national average, the same $10,000 earns about $38, or 0.38%. That's a $389 gap on every $10,000, every year.
What to do: Find the rate your savings earns now. It's on your statement or in your bank's app. Then compare it with the table below.
RATE WATCH: This week's full table
Safe yield | Best this week | Where | As of |
|---|---|---|---|
Online savings | About $427 a year on $10,000 (4.27% APY) | Peak Bank (online). No promo, $100 to open. | Oct. 23, 2026 |
1-year CD | About $460 a year on $10,000 (4.60% APY) | Popular Direct (online). $10,000 minimum. No minimum: E*TRADE, about $455 (4.55% APY). | Oct. 21, 2026 |
6-month Treasury bill | About $431 a year on $10,000 (4.31%) | TreasuryDirect or a brokerage | Oct. 22, 2026 |
5-year fixed annuity (MYGA) | About $605 a year on $10,000 (6.05%) | Athene, rated A+ by AM Best. $100,000 minimum. Insurance product, not a bank deposit, not FDIC-insured. | Oct. 23, 2026 |
National average savings, for comparison | About $38 a year on $10,000 (0.38%) | FDIC national rate | Oct. 2026 |
On $10,000, a 6-month T-bill at this rate pays about $215 over its six months.
Dollar figures are about one year's interest on $10,000. Rates change often.
How we pick:
Savings and CDs: the highest standard rate we found at an online bank. We skip short-term promotions, promo codes, direct-deposit rules and memberships.
Treasury bills: the 26-week bill's daily yield, from the U.S. Treasury. Auction results can differ a little.
Annuities: the highest five-year guaranteed rate we found from an insurer rated A+ or better by AM Best.
What's protected, and how:
At FDIC-insured banks, deposits are covered to at least $250,000 per depositor, per ownership category, at each bank.
Treasury bills are backed by the full faith and credit of the U.S. government. Their interest is free of state and local income tax, but federal tax still applies.
Annuities aren't bank deposits, and FDIC insurance doesn't cover them. The guarantee depends on the insurer's financial strength. Taking money out early can mean a surrender charge.
ONE SMART MOVE: Write down when your CDs mature
Many banks roll a CD into a new one when it ends, unless you say otherwise. The new rate may be higher or lower.
Your bank must send you a written notice before the CD matures. Put each maturity date on your calendar now. Then you'll have time to compare rates first.
SCAM WATCH: The fake "FTC" call about your phone
The FTC warned about this one on Oct. 22. A caller says he's from the FTC. He claims a phone in your name is being used for scams in another country.
He threatens to cut off your phone number unless you cooperate. Then he passes you to a fake police officer. Later comes a demand for money as a "security deposit."
Even if they tell you to look up a police number online, be careful. Scammers may answer those calls, too.
How to spot it: A real FTC employee will never ask you to send money. They won't threaten to disconnect your phone. They won't tell you to keep it secret, or text you a photo of an ID badge.
What to do: Hang up. Don't share your ID or personal details. Tell someone you trust, then report it at ReportFraud.ftc.gov.
ASK FRONT PORCH
A question we hear a lot: "Is my money safe at an online bank?"
If the bank is FDIC-insured, your deposits are covered to at least $250,000 per depositor, per ownership category, at each bank. What matters is the FDIC coverage, not whether the bank has branches.
Before you deposit, look the bank up in the FDIC's BankFind tool. Make sure the name and web address match exactly. Fake bank sites do exist.
That's it for this week. Hit reply and send us your biggest money question. We read every one.
— The Front Porch Money team
Front Porch Money isn't affiliated with the FDIC, the FTC, the Treasury or any government agency. Rates are for general comparison, not a recommendation of any bank, insurer or product.