Savings Rate Gap Index · August 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.
Monthly snapshot · 51 banks tracked · Published by SwitchWize Research Desk
Where savings rates cluster
August 2026 Bank Gap Index
Explore how 51 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
12
Typical APY
0.01%
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 $943 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 4.15% top benchmark is 3.77 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.
Source: S&P Capital IQ Pro; SNL Financial Data. Calculations: FDIC. Reflects the $2,500 product tier for savings and interest checking accounts.
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.
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<iframe src="https://www.switchwize.com/embed/indices/hysa-spread?source=embed_selfserve" width="100%" height="220" loading="lazy" style="border:1px solid #e2e8f0;border-radius:14px;max-width:100%;width:100%" title="SwitchWize calculator"></iframe>
<script>(function(){window.addEventListener("message",function(e){if(e.origin!=="https://www.switchwize.com")return;var d=e.data;if(!d||d.type!=="sw-embed-resize")return;var f=document.getElementsByTagName("iframe");for(var i=0;i<f.length;i++){if(f[i].contentWindow===e.source){f[i].style.height=d.height+"px";break;}}});})();</script>Full savings-rate reference table
| Bank | Savings APY | Annual interest lost | Observed |
|---|---|---|---|
| Marcus by Goldman Sachs | 3.40% | $188 | Aug 23, 2026 |
| U.S. Bank | 0.05% | $1,025 | Aug 22, 2026 |
| Capital One | 3.00% | $288 | Aug 23, 2026 |
| PNC Bank | 3.15% | $250 | Aug 22, 2026 |
| Truist | 0.01% | $1,035 | Aug 22, 2026 |
| American Express | 3.00% | $288 | Aug 7, 2026 |
| BMO | 0.01% | $1,035 | Aug 22, 2026 |
| HSBC Bank | 0.05% | $1,025 | Aug 7, 2026 |
| First Citizens Bank | 0.10% | $1,013 | Aug 15, 2026 |
| CIT Bank | 4.10% | $13 | Aug 23, 2026 |
| Citizens | 0.01% | $1,035 | Aug 22, 2026 |
| Huntington Bank | 0.01% | $1,035 | Aug 22, 2026 |
| Fifth Third Bank | 0.01% | $1,035 | Aug 22, 2026 |
| Regions Bank | 0.01% | $1,035 | Aug 22, 2026 |
| M&T Bank | 0.01% | $1,035 | Aug 22, 2026 |
| KeyBank | 0.02% | $1,033 | Aug 22, 2026 |
| First Horizon Bank | 0.25% | $975 | Aug 7, 2026 |
| East West Bank | 2.50% | $413 | Aug 15, 2026 |
| Citizens Access | 2.80% | $338 | Aug 23, 2026 |
| Ally | 3.00% | $288 | Aug 23, 2026 |
| Alto Bank | 3.00% | $288 | Aug 23, 2026 |
| Apple Bank | 3.03% | $280 | Aug 23, 2026 |
| SoFi | 3.10% | $263 | Aug 7, 2026 |
| Flagstar Bank | 3.20% | $238 | Aug 15, 2026 |
| Cash App | 3.25% | $225 | Aug 23, 2026 |
| Old National Bank | 3.25% | $225 | Aug 15, 2026 |
| Synchrony | 3.30% | $213 | Aug 23, 2026 |
| Wealthfront | 3.30% | $213 | Aug 7, 2026 |
| DollarSavingsDirect | 3.35% | $200 | Aug 23, 2026 |
| MySavingsDirect | 3.35% | $200 | Aug 23, 2026 |
| Robinhood | 3.35% | $200 | Jul 2, 2026 |
| Customers Bank | 3.38% | $193 | Aug 23, 2026 |
| Barclays | 3.50% | $163 | Aug 23, 2026 |
| E*TRADE | 3.50% | $163 | Aug 23, 2026 |
| Salem Five Direct | 3.51% | $160 | Aug 23, 2026 |
| TAB Bank | 3.61% | $135 | Aug 23, 2026 |
| EagleBank | 3.70% | $113 | Aug 23, 2026 |
| Axos Bank | 3.75% | $100 | Aug 23, 2026 |
| BrioDirect | 3.75% | $100 | Aug 23, 2026 |
| Prime Alliance Bank | 3.75% | $100 | Aug 23, 2026 |
| Sallie Mae Bank | 3.75% | $100 | Aug 23, 2026 |
| Openbank | 3.80% | $88 | Aug 23, 2026 |
| Western Alliance Bank | 3.80% | $88 | Aug 23, 2026 |
| Forbright Bank | 3.85% | $75 | Aug 23, 2026 |
| Primis Bank | 3.85% | $75 | Aug 23, 2026 |
| Zynlo Bank | 3.85% | $75 | Aug 23, 2026 |
| EverBank | 3.90% | $63 | Aug 23, 2026 |
| Popular Direct | 3.90% | $63 | Aug 23, 2026 |
| Bread Savings | 3.95% | $50 | Aug 23, 2026 |
| Vio Bank | 3.99% | $40 | Aug 23, 2026 |
| LendingClub | 4.00% | $38 | Aug 23, 2026 |
| Limelight Bank | 4.00% | $38 | Aug 17, 2026 |
| Valley Direct | 4.00% | $38 | Aug 23, 2026 |
| Western State Bank | 4.00% | $38 | Aug 23, 2026 |
| PiBank | 4.10% | $13 | Aug 23, 2026 |
| Newtek Bank | 4.20% | $0 | Aug 23, 2026 |
Monthly index reference table
| Month | Index value | Rate gap | Banks tracked |
|---|---|---|---|
| Aug 2026 | $943/yr | 3.77% | 51 |
| 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.
Find my gapRelated tools
See your state's after-tax gap
The national gap above doesn't account for state income tax on savings interest. Pick your state for the after-tax version of this number.