History of Savings Account Interest Rates

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.

What are the top savings rates for 2026?

Interest on a savings account can range from a paltry 0.02% to an impressive 4% or more. The rate you receive ultimately depends on the bank and product, with digital banks offering higher rates on average. You can compare the top savings accounts on the market to find one that fits your saving needs.

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.

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Why do savings interest rates change?

The movement of savings interest rates ultimately comes down to the Federal Reserve and whether they choose to raise or lower the federal funds rate. The reserve will increase or decrease the reserve rate depending on how well the economy is doing to fight inflation or stimulate economic growth.

Where do you keep your savings?

Standard savings accounts (84%) are the most popular option for people to grow their nest egg, while about 1 in 5 (22%) are opting for high-interest savings accounts.

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.