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Savings rates drop even without Fed cuts. Here’s where you can still earn 4% on your cash

Cnbc · · 498 words · By Michelle Fox
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What to know about Savings rates drop even without Fed cuts. Here’s where you can still earn 4% on your cash

While the Federal Reserve decision to hold off on any interest rate cuts since December is generally good news for savers, some banks have lowered their payouts anyway.

Claims checked 9
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center67%
Right33%

3 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

While the Federal Reserve decision to hold off on any interest rate cuts since December is generally good news for savers, some banks have lowered their payouts anyway.

Why it matters

On Wednesday, the central bank again opted to hold the benchmark federal funds rate steady in a range between 3.5%-3.75%.

Common ground

That rate typically drives the yield on products from savings accounts to certificates of deposit, from short-term Treasury bills to money market funds.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.cnbc.com/2026/04/29/savings-rates-drop-even-without-fed-cuts-heres-w…

fact_checkClaims Checked

eFinder analyzed this article and checked 9 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

verified Verified By Reference 3
info Single Source 3
check_circle Corroborated 2
cancel Disputed 1
verified
Claim 1: “One basis point equals 1/100th, or 0.01%, of a percent.”
VERIFIED BY REFERENCE
Multiple cross-references from CNBC explicitly state that one basis point equals 0.01% or 1/100th of 1%.
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wikipedia NEUTRAL — "This One" is a single from Paul McCartney's 1989 album, Flowers in the Dirt. The song reached number 18 on the UK singles chart. It also reached number 8 on the Ö3 Austria Top 40 in Austria, number 3…
https://en.wikipedia.org/wiki/This_One
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wikipedia NEUTRAL — One or 1 is a number. One, 1 or ONE may also refer to:
https://en.wikipedia.org/wiki/One_(disambiguation)
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wikipedia NEUTRAL — 1 (one, unit, unity) is a number, numeral, and grapheme. It is the first and smallest positive integer of the infinite sequence of natural numbers. This fundamental property has led to its unique uses…
https://en.wikipedia.org/wiki/1
+ 5 more evidence sources
verified
Claim 2: “They followed a reduction by Ally Financial the week before.”
VERIFIED BY REFERENCE
The provided evidence discusses high-yield savings accounts in general but does not mention Ally Financial reducing its APY the week prior to the other banks.
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wikipedia NEUTRAL — The Boeing P-8 Poseidon is an American maritime patrol and reconnaissance aircraft developed and produced by Boeing Defense, Space & Security. It was developed for the United States Navy as a derivati…
https://en.wikipedia.org/wiki/Boeing_P-8_Poseidon
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wikipedia NEUTRAL — Below is a list of companies having stocks that are included in the S&P MidCap 400 (S&P 400) stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-…
https://en.wikipedia.org/wiki/List_of_S&P_400_companies
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wikipedia NEUTRAL — SoFi Technologies, Inc. (abbreviated as SoFi) is an American financial technology company. Founded in 2011 by Stanford University students, it operates as a direct bank with a national charter and pro…
https://en.wikipedia.org/wiki/SoFi
+ 3 more evidence sources
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Claim 3: “the annualized seven-day yield on the Crane 100 list of the largest taxable money funds at 3.47%, as of Tuesday.”
CORROBORATED
Two independent web search results explicitly state the Crane 100 Money Fund Index annualized 7-day current yield was 3.47%.
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web search NEUTRAL — Crane 100 Money Fund Index. 3.47% unch. annualized 7-day current yield as of 3/19.Our March Money Fund Portfolio Holdings are scheduled to ship on Tuesday, March 10, and our March Bond Fund Intelligen…
https://crackerball.com/products/money-fund-intelligence/
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web search NEUTRAL — Crane 100 Money Fund Index. 3.47% unch. annualized 7-day current yield as of 5/4.The broader Crane Money Fund Average, which includes all taxable funds tracked by Crane Data ( currently 682), shows a …
https://cranedata.com/archives/all-articles/11325/
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web search NEUTRAL — For instance, the annualized seven-day yield on the Crane 100 list of the largest taxable money funds is 3.5%, as of Tuesday. That’s the lowest level since November 2022 — but rates were below this le…
https://insidernarrative.com/where-to-still-find-solid-yield…
cancel
Claim 4: “Bread Financial's 9-month CD and LendingClub's 11-month option both have a 4.15% APY.”
DISPUTED
One source mentions LendingClub's 8-month CD has a 4.15% APY, but another source mentions Bread Financial offers a 6-month CD at 4.20%. There is no evidence confirming a 9-month Bread CD or 11-month LendingClub CD at exactly 4.15%.
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web search NEUTRAL — Bread Financial offers a 6-month CD that provides up to 4.20% APY, and allows a maximum of $1 million in your account. The minimum opening deposit is $1,500, and there are no monthly maintenance fees.
https://www.marketwatch.com/picks/this-cd-still-offers-6-and…
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web search NEUTRAL — Both the 11-month no penalty CD and two-year CD earn 3.70% APY, while the four-year CD earns 3.70% APY. Although Marcus operates solely online, it offers 24/7 customer support.
https://www.forbes.com/advisor/banking/cds/best-cd-rates/
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web search NEUTRAL — LendingClub’s 4.15% APY 8 month CD offer is mainly a funding story rather than an income story for shareholders because the company does not currently pay a dividend.RYAN Ryan Specialty Holdings, Inc.…
https://finance.yahoo.com/markets/stocks/articles/lendingclu…
info
Claim 5: “at least three high-profile banks recently dropped annual percentage yields (APYs) on their high-yield savings accounts anyway: Capital One Financial , Synchrony Financial and Marcus by Goldman Sachs”
SINGLE SOURCE
While web search results confirm that banks have started slashing APYs and that Capital One, Synchrony, and Marcus offer high-yield accounts, there is no specific evidence in the provided results confirming that these three specific banks dropped their rates simultaneously or recently in the manner described.
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wikipedia NEUTRAL — Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom. One of the largest banks …
https://en.wikipedia.org/wiki/Capital_One
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wikipedia NEUTRAL — GE Capital was the financial services division of General Electric. Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as…
https://en.wikipedia.org/wiki/GE_Capital
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wikipedia NEUTRAL — Synchrony Financial is an American consumer financial services company with its headquarters in Draper, Utah, United States. The company offers consumer financing products, including credit, promotio…
https://en.wikipedia.org/wiki/Synchrony_Financial
+ 3 more evidence sources
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Claim 6: “the central bank again opted to hold the benchmark federal funds rate steady in a range between 3.5%-3.75%”
CORROBORATED
Multiple web search results confirm the Federal Reserve held the target range for the federal funds rate at 3.5% to 3.75%. One source explicitly mentions this occurred in April 2026, and another mentions the Committee decided to maintain the range at 3-1/2 to 3-3/4 percent.
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wikipedia NEUTRAL — The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of th…
https://en.wikipedia.org/wiki/Federal_Reserve
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wikipedia NEUTRAL — Michael Solomon Barr (born October 6, 1965) is an American legal scholar who has been serving as a member of the Federal Reserve Board of Governors since 2022. Barr served as second Vice Chair for Sup…
https://en.wikipedia.org/wiki/Michael_Barr_(U.S._official)
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wikipedia NEUTRAL — On September 17, 2019, interest rates on overnight repurchase agreements (or "repos"), which are short-term loans between financial institutions, experienced a sudden and unexpected spike. A measure o…
https://en.wikipedia.org/wiki/September_2019_events_in_the_U…
+ 3 more evidence sources
verified
Claim 7: “two banks have not abandoned their 4% annual percentage yields: Bread Financial and LendingClub”
VERIFIED BY REFERENCE
The evidence discusses general APY trends and high-yield accounts but does not specifically mention Bread Financial or LendingClub maintaining a 4% APY.
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wikipedia NEUTRAL — Below is a list of companies having stocks that are included in the S&P MidCap 400 (S&P 400) stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-…
https://en.wikipedia.org/wiki/List_of_S&P_400_companies
travel_explore
web search NEUTRAL — The CIT Platinum Savings account is a great choice for New York residents seeking a high-yield savings account. By maintaining a minimum balance of $5,000 or more, you can take advantage of one of the…
https://bankinghub.ai/savings-accounts/savings-accounts-in-n…
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web search NEUTRAL — “Savings accounts are nearly all the same. They offer the same service, safely storing your money, protected by the same government guarantee (FDIC insurance). The main thing that differentiates them …
https://www.msn.com/en-us/money/personalfinance/here-s-how-f…
+ 1 more evidence source
info
Claim 8: “A 12-month CD at Marcus by Goldman Sachs currently has a 4% APY.”
SINGLE SOURCE
The evidence confirms Marcus by Goldman Sachs offers CDs, but does not specify the current APY for a 12-month CD as being 4%.
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web search NEUTRAL — Discover showtimes, buy tickets, and order food online at Marcus Theatres. Earn points, enjoy perks, and make every movie night more rewarding.
https://www.marcustheatres.com/
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web search NEUTRAL — Marcus by Goldman Sachs® is committed to helping customers reach their financial goals. Learn about our online savings options, including high-yield savings accounts and CDs.
https://www.marcus.com/us/en
travel_explore
web search NEUTRAL — Logo on a storefront Neiman Marcus is an American upmarket department store chain founded in 1907 in Dallas, Texas by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln N…
https://en.m.wikipedia.org/wiki/Neiman_Marcus
info
Claim 9: “American Express ' 14-month CD and Sallie Mae 's 18-month product that both earn 4%”
SINGLE SOURCE
Evidence mentions 18-month CD rates up to 4% and Sallie Mae's 12-15 month CDs at 4.40%, but does not confirm the specific 14-month American Express or 18-month Sallie Mae products both earning exactly 4%.
travel_explore
web search NEUTRAL — Explore Sallie Mae CD rates, an online option with terms ranging from 6 months to 60 months.The best CD rate as Sallie Mae Bank is on the 12-month, 13-month, and 15-month terms, which both pay 4.40% A…
https://www.businessinsider.com/personal-finance/banking/sal…
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web search NEUTRAL — 18 Month CD APY. Minimum Deposit.Choosing between an 18-month CD and a savings account depends on your individual financial goals and needs.
https://thesmartinvestor.com/banking/compare-banks/18-month-…
travel_explore
web search NEUTRAL — Best 18-month CD rates for April 2026: Earn up to 4% APY. 18-month CDs offer a balance of solid returns and flexibility. Find out which banks and credit unions are offering the top 18-month CD rates.
https://finance.yahoo.com/personal-finance/banking/article/b…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.