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History of savings account interest rates

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

Updated

Fact checked

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.

Editor's pick: American Express® Personal Savings High Yield Savings

  • 1.00% APY
  • No monthly fee
  • No minimum balance

Editor's pick: American Express® Personal Savings High Yield Savings

Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.

  • Around-the-clock online and phone support
  • No fees to hassle with
  • FDIC insured

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.

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%
January 20190.09%

*Based on the national average interest rates for savings accounts according to the FDIC.

Current savings account interest rates

$
$
months
Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned More info
American Express® Personal Savings High Yield Savings
1.00%
$0
$0
Go to site
View details
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
CIT Bank Savings Builder High Yield Savings Account

0.95% on balances of $25,000+ or set up a direct deposit of $100+ each month
0.79% on balances of $0 to $24,999
$0
$100
Go to site
View details
No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
Discover Online Savings Account
1.01%
$0
$0
Go to site
View details
Take advantage of a high-interest online savings account with no fees, no minimums and more.
Aspiration Spend & Save Account

1.00% on balances of $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0
$10
Go to site
View details
A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
UFB Direct High Yield Savings
0.40%
$0
$100
Go to site
View details
Earn an APY when your balance is higher than $10,000 with this no-monthly-fee savings account.
BBVA Money Market

0.19% on balances of $1,000,000+
0.10% on balances of $100,000 to $999,999
0.05% on balances of $0 to $99,999
$15 per month
(can be waived)
$25
Go to site
View details
Earn a promotional APY for your first 3 months and access your money by ATM, check or bill pay.
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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.

History of CD interest rates

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4 Responses

  1. Default Gravatar
    RuthJuly 9, 2019

    What is your source for determining the savings account interest rates? Thank you.

    • Avatarfinder Customer Care
      JeniJuly 9, 2019Staff

      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

  2. Default Gravatar
    AprilMay 14, 2019

    How much interest would I have earned on a deposit of $50,000.00 since the calendar year of 2002?

    • Avatarfinder Customer Care
      JeniMay 14, 2019Staff

      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

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