Savings Rate Gap Index · July 2026
Most savers are still earning near zero while top savings rates are above 4%
The SwitchWize Bank Gap Index tracks the savings-rate gap between low-rate bank accounts and the top tracked savings benchmark. It is the national proof point behind Find my gap.
Rates updated · 104 banks tracked · Published by SwitchWize Research Desk
Where savings rates cluster
July 2026 Bank Gap Index
Explore how 104 of the largest U.S. banks' savings rates are distributed from near zero to top-yield.
Near-zero banks
0.00%-0.25% APYThese banks sit closest to zero. This is where the savings-rate gap is easiest to see because the account earns almost nothing while top savings rates remain materially higher.
Banks in this range
35
Typical APY
0.03%
Rates are savings account APYs. Source: SwitchWize rate observations.
Learn how we calculate the Bank Gap IndexWhy the savings-rate gap exists
Low-rate banks do not need to compete hard for balances that rarely move. A near-zero APY is often a measure of customer inertia, not a measure of what deposits are worth.
Competitive online banks and credit unions have to win deposits, so they tend to pay closer to the top of the savings market when rates are high.
The Bank Gap Index is the national benchmark. To see your own number, use the calculator below with your balance and current savings rate.
How the savings-rate gap has moved
Each month's value is recorded as a dated snapshot. The chart stays visual for readers; the full machine-readable series is published at /data/bank-gap-index.json.
Frequently asked questions
What is the Savings Rate Gap Index?
The Savings Rate Gap Index is the savings-focused Bank Gap Index. It measures the annual interest a representative saver gives up when earning the national average savings APY instead of the top tracked savings benchmark. The current index value is about $976 per year on $25,000.
What does rate gap mean?
Rate gap means the difference between two APYs, written in percentage points. In the current index, the gap between the 0.38% national average and the 4.28% top benchmark is 3.90 percentage points.
How can I calculate my own bank gap?
Use Find my gap. Your personal gap depends on your balance and the savings APY your current bank pays.
Where can I download the Bank Gap Index data?
SwitchWize publishes the dataset as public JSON and CSV files, with methodology and monthly releases linked from this page.
Methodology
Savings Rate Gap Index = representative balance times the difference between the top tracked savings benchmark and the national average savings APY.
The representative balance is $25,000. The top benchmark comes from the tracked savings-rate data SwitchWize maintains; the national average savings APY comes from the FDIC national average savings deposit rate, updated through the rate-ingest pipeline.
Reference data
Citation and research files
For researchers, journalists, and AI systems, SwitchWize publishes the methodology, monthly releases, and machine-readable Bank Gap Index data. The tables below are reference material and are collapsed by default.
Full savings-rate reference table
| Bank | Savings APY | Annual interest lost | Observed |
|---|---|---|---|
| Chase | 0.01% | $1,068 | Jul 9, 2026 |
| Bank of America | 0.04% | $1,061 | Jul 9, 2026 |
| Citi | 0.03% | $1,063 | May 14, 2026 |
| Citibank | 0.03% | $1,063 | Jul 9, 2026 |
| Wells Fargo | 0.01% | $1,068 | Jul 9, 2026 |
| Marcus by Goldman Sachs | 3.40% | $221 | Jul 9, 2026 |
| U.S. Bank | 0.05% | $1,058 | Jul 3, 2026 |
| Capital One | 3.00% | $321 | Jul 9, 2026 |
| PNC Bank | 3.15% | $283 | Jul 3, 2026 |
| Truist | 0.01% | $1,068 | Jul 3, 2026 |
| TD Bank | 0.02% | $1,066 | Jul 9, 2026 |
| Charles Schwab | 0.15% | $1,033 | Jul 9, 2026 |
| American Express | 3.20% | $271 | Apr 30, 2026 |
| BMO | 0.01% | $1,068 | Jul 3, 2026 |
| USAA | 0.01% | $1,068 | Jul 9, 2026 |
| CIT Bank | 4.10% | $46 | Jul 9, 2026 |
| Citizens | 0.01% | $1,068 | Jul 3, 2026 |
| Huntington Bank | 0.01% | $1,068 | Jul 3, 2026 |
| Fifth Third Bank | 0.01% | $1,068 | Jul 3, 2026 |
| Regions Bank | 0.01% | $1,068 | Jul 3, 2026 |
| M&T Bank | 0.01% | $1,068 | Jul 3, 2026 |
| Bank of Hope | 0.01% | $1,068 | Jul 9, 2026 |
| Connexus Credit Union | 0.01% | $1,068 | Jul 9, 2026 |
| Webster Bank | 0.01% | $1,068 | Jul 9, 2026 |
| KeyBank | 0.02% | $1,066 | Jul 3, 2026 |
| Zions Bank | 0.02% | $1,066 | Jul 9, 2026 |
| America First FCU | 0.05% | $1,058 | Jul 9, 2026 |
| Applied Bank | 0.05% | $1,058 | Jul 9, 2026 |
| Citizens Trust Bank | 0.05% | $1,058 | Jul 9, 2026 |
| Mountain America Credit Union | 0.05% | $1,058 | Jul 8, 2026 |
| Patelco Credit Union | 0.05% | $1,058 | Jul 9, 2026 |
| Provident Bank | 0.05% | $1,058 | Jul 9, 2026 |
| Third Federal Savings & Loan | 0.05% | $1,058 | Jul 8, 2026 |
| Third Federal Savings and Loan | 0.05% | $1,058 | Jun 10, 2026 |
| BECU | 0.20% | $1,021 | Jul 9, 2026 |
| Navy Federal CU | 0.25% | $1,008 | Jul 3, 2026 |
| Northpointe Bank | 0.25% | $1,008 | Jul 9, 2026 |
| Ridgewood Savings Bank | 0.25% | $1,008 | Jul 9, 2026 |
| State Employees' Credit Union | 0.25% | $1,008 | Jul 9, 2026 |
| WebBank | 0.25% | $1,008 | Jul 9, 2026 |
| GTE Financial | 0.50% | $946 | Jul 9, 2026 |
| Chime | 0.75% | $883 | Jul 9, 2026 |
| First Internet Bank of Indiana | 0.80% | $871 | Jul 9, 2026 |
| Emigrant Bank | 1.00% | $821 | Jul 9, 2026 |
| Goldwater Bank | 1.00% | $821 | Jul 9, 2026 |
| Varo Bank | 1.00% | $821 | Jul 9, 2026 |
| Banesco USA | 1.35% | $733 | Jul 9, 2026 |
| iGObanking | 1.50% | $696 | Jul 9, 2026 |
| Cross River Bank | 1.75% | $633 | Jul 9, 2026 |
| BankUnited | 2.10% | $546 | Jul 9, 2026 |
| First National Bank of America | 2.25% | $508 | Jul 9, 2026 |
| PenFed Credit Union | 2.70% | $396 | Jul 9, 2026 |
| Ally | 3.00% | $321 | Jul 9, 2026 |
| Alto Bank | 3.00% | $321 | Jul 9, 2026 |
| Citizens Access | 3.00% | $321 | Jun 10, 2026 |
| Citizens Access | 3.00% | $321 | Jul 9, 2026 |
| Emigrant Direct | 3.00% | $321 | Jul 9, 2026 |
| FNBO Direct | 3.00% | $321 | Jul 9, 2026 |
| Alliant Credit Union | 3.01% | $318 | May 11, 2026 |
| Apple Bank | 3.03% | $313 | May 11, 2026 |
| Cash App | 3.25% | $258 | Jul 9, 2026 |
| Quorum Federal Credit Union | 3.30% | $246 | Jul 9, 2026 |
| SoFi | 3.30% | $246 | May 11, 2026 |
| Synchrony | 3.30% | $246 | Jul 9, 2026 |
| Wealthfront | 3.30% | $246 | May 11, 2026 |
| DollarSavingsDirect | 3.35% | $233 | Jul 9, 2026 |
| MySavingsDirect | 3.35% | $233 | Jul 9, 2026 |
| Robinhood | 3.35% | $233 | Jul 2, 2026 |
| Customers Bank | 3.38% | $226 | Jul 9, 2026 |
| Valley Direct | 3.40% | $221 | May 14, 2026 |
| Valley Direct | 3.40% | $221 | Jul 9, 2026 |
| Barclays | 3.50% | $196 | Jul 9, 2026 |
| E*TRADE | 3.50% | $196 | Jul 9, 2026 |
| Salem Five Direct | 3.51% | $193 | Jul 9, 2026 |
| Langley FCU | 3.60% | $171 | Jul 9, 2026 |
| North American Savings Bank | 3.60% | $171 | Jul 9, 2026 |
| TAB Bank | 3.61% | $168 | Jun 10, 2026 |
| TAB Bank | 3.61% | $168 | Jul 9, 2026 |
| Bank5 Connect | 3.65% | $158 | Jul 9, 2026 |
| EagleBank | 3.70% | $146 | Jul 9, 2026 |
| Axos Bank | 3.75% | $133 | Jul 9, 2026 |
| BrioDirect | 3.75% | $133 | Jul 9, 2026 |
| Prime Alliance Bank | 3.75% | $133 | Jul 9, 2026 |
| Rising Bank | 3.75% | $133 | May 14, 2026 |
| Rising Bank | 3.75% | $133 | Jul 9, 2026 |
| Sallie Mae Bank | 3.75% | $133 | Jul 9, 2026 |
| Live Oak | 3.80% | $121 | Jul 9, 2026 |
| Live Oak Bank | 3.80% | $121 | Jun 10, 2026 |
| Openbank | 3.80% | $121 | Jul 9, 2026 |
| Western Alliance Bank | 3.80% | $121 | Jul 9, 2026 |
| Primis Bank | 3.85% | $108 | Jul 9, 2026 |
| Zynlo Bank | 3.85% | $108 | Jul 9, 2026 |
| EverBank | 3.90% | $96 | Jul 9, 2026 |
| Limelight Bank | 3.90% | $96 | Jun 10, 2026 |
| Limelight Bank | 3.90% | $96 | Jul 9, 2026 |
| Popular Direct | 3.90% | $96 | Jul 9, 2026 |
| Bread Savings | 3.95% | $83 | Jul 9, 2026 |
| LendingClub | 4.00% | $71 | Jun 22, 2026 |
| Vio Bank | 4.01% | $68 | Jun 10, 2026 |
| Vio Bank | 4.01% | $68 | Jul 9, 2026 |
| PiBank | 4.10% | $46 | Jul 9, 2026 |
| Forbright Bank | 4.15% | $33 | Jul 9, 2026 |
| Newtek Bank | 4.20% | $21 | Jul 9, 2026 |
| Suncoast Credit Union | 4.50% | $0 | Jul 9, 2026 |
Monthly index reference table
| Month | Index value | Rate gap | Banks tracked |
|---|---|---|---|
| Jul 2026 | $997/yr | 3.99% | 93 |
| Jun 2026 | $997/yr | 3.99% | 93 |
Your personal Bank Gap
See exactly what the gap is costing you.
Enter your balance and current savings rate. Find my gap shows the annual gap and what it adds up to over five years.
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