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History of savings account interest rates
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.
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Historical savings account interest rates
The FDIC has only kept track of savings account interest rates from the beginning of 2010. See how the online savings account you’re considering performs compared to previous average market rates.
| Date | Interest rate |
|---|---|
| January 2010 | 0.21% |
| July 2010 | 0.20% |
| January 2011 | 0.17% |
| July 2011 | 0.14% |
| January 2012 | 0.11% |
| July 2012 | 0.09% |
| January 2013 | 0.07% |
| July 2013 | 0.06% |
| January 2014 | 0.06% |
| July 2014 | 0.06% |
| January 2015 | 0.06% |
| July 2015 | 0.06% |
| January 2016 | 0.06% |
| July 2016 | 0.06% |
| January 2017 | 0.06% |
| July 2017 | 0.06% |
| January 2018 | 0.06% |
| July 2018 | 0.08% |
| January 2019 | 0.09% |
*Based on the national average interest rates for savings accounts according to the FDIC.
Current savings account interest rates
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.
Ask an Expert
What is your source for determining the savings account interest rates? Thank you.
Hi Ruth,
Thank you for getting in touch with Finder.
The data comes from the FDIC and only goes back to mid-2009.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
How much interest would I have earned on a deposit of $50,000.00 since the calendar year of 2002?
Hi April,
Thank you for getting in touch with Finder.
Kindly get in touch with your bank to check your account’s rate as well as to have an estimate of the interest earned since you invested in 2002. Please note that the interest computation is based on your bank’s rate.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni