Average Savings Account Interest Rate in March 2026
KEY POINTS
- National average rate: The average savings account interest rate is 0.39% APY as of February 2026.
- High-yield advantage: High-yield savings accounts pay significantly more than the national average, offering better returns.
- Rate trends over time: Savings rates peaked in 2023 before decreasing again.
The national average savings account interest rate is a benchmark for what most Americans earn on their deposits. Most traditional banks pay at or near that average -- high-yield savings accounts pay significantly more.
What is the average savings account interest rate?
The national average savings account interest rate is 0.39% APY as of February 2026, according to FDIC data. That figure reflects an average across thousands of accounts at banks of all sizes.
The best high-yield savings accounts, typically offered by online banks, routinely pay several times the national average.
How the average savings account rate has changed over time
Savings rates sat near historic lows through early 2022. The Federal Reserve's rate-hiking cycle drove the national average higher through 2023, where it peaked before drifting back down.
Average savings account rate vs. high-yield savings account rate
The national average interest rate on savings accounts is a baseline, not a ceiling. Online banks operate with lower overhead and use competitive rates to attract deposits, which is why the gap between the national average and the best available rates for high-yield savings accounts remains wide.
Top high-yield savings accounts currently pay well above the national average. For most savers, switching accounts is the single most effective way to earn more on cash.
See also: What is a good APY for a savings account? | How to choose a savings account
FAQs
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The national average savings account interest rate is 0.39% APY as of February 2026, per FDIC data. The best high-yield savings accounts pay significantly more.
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Sources
- FDIC (2026). "National Rates and Rate Caps."
Our Research Expert
Jack Caporal is the Research Director for The Motley Fool and Motley Fool Money and has worked full-time for the company since 2021. Jack leads efforts to identify and analyze trends shaping investing and personal financial decisions across the United States. His research has appeared in thousands of media outlets including Harvard Business Review, The New York Times, Bloomberg, and CNBC, and has been cited in congressional testimony. He previously covered business and economic trends as a reporter and policy analyst in Washington, D.C. He serves as Chair of the Trade Policy Committee at the World Trade Center in Denver, Colorado. He holds a B.A. degree in International Relations with a concentration in International Economics from Michigan State University.
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