History of savings account interest rates since 2010 | finder.com

History of savings account interest rates

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Let’s take a look at how they’ve moved since 2010.

Putting your nest egg within easy reach when you need it, a savings account is a must-have for many people. Looking at historical savings account rates in terms of their movement alongside the national rate can help you make an informed decision when choosing a bank.

Historical savings account interest rates

See how the online savings account you’re considering performs compared to previous average market rates.

DateInterest rate
January 20100.21%
July 20100.20%
January 20110.17%
July 20110.14%
January 20120.11%
July 20120.09%
January 20130.07%
July 20130.06%
January 20140.06%
July 20140.06%
January 20150.06%
July 20150.06%
January 20160.06%
July 20160.06%
January 20170.06%
July 20170.06%
January 20180.06%
July 20180.08%

Current savings account interest rates

Name Product Fee Minimum deposit to open Minimum balance to earn interest Interest rate (APY)
$0
$0
$1
2.10%
Enjoy no monthly fees and a competitive APY with this online-only savings account.
$0
$100
$25,000
or set up a direct deposit of $100+ each month
2.45%
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
$15 per month
(can be waived)
$25
$0
2.40%
Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
$0
$0
$0
2.25%
Earn one of the highest interest rates without the fees.
$5 per month
(can be waived)
$25
$0
0.01%
Get a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 10 business days and maintain a $10,000 balance for 90 days.
$0
$100
$0
1.85%
Reach your savings goals with a CIT Bank Money Market account. $100 minimum opening deposit.

Compare up to 4 providers

Bottom line

If you’re shopping around for a new savings account, look for a bank that will give you an interest rate that meets or exceeds the national average. While the market has been pretty stagnant over the last several years, we’re in the beginning of an upward trend, which could mean higher interest rates in the future if you choose an account with a variable rate.

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