Savings Rate Gap Index · October 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-3 average savings benchmark. It is the national proof point behind Find my gap.
Monthly snapshot · 63 banks tracked · Published by SwitchWize Research Desk
Current national benchmark
$959/yr
Annual interest lost on a representative $25,000 balance when earning the national average instead of the top-3 average benchmark.
How banks compare on savings rates
69 of the largest U.S. banks, near zero to top-yield.
Highest tracked APY
4.25%
Near-zero banks
These 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
22
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 with your balance and current savings rate.
See my personal gapHow the savings-rate gap has moved
5 months tracked so far — trend reporting starts at 6 months to avoid reading noise as a trend.
Each month's value is captured once — usually on the 1st — and held fixed for the rest of that month; it is not recomputed daily. The current reading was captured Oct 3. The full series is downloadable as JSON and CSV in Citation and research files below.
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-3 average savings benchmark. The current index value is about $959 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 4.22% top-3 average benchmark is 3.84 percentage points. The top-3 average benchmark is the average of the three highest tracked APYs, not the single highest rate — this guards the index against one outlier bank skewing the figure.
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-3 average savings benchmark and the national average savings APY.
The representative balance is $25,000. The top-3 average benchmark is the average of the three highest APYs among the tracked savings-rate data SwitchWize maintains — not the single highest rate, which guards the index against one outlier bank skewing the figure. (The single highest tracked rate is shown separately above as “Highest tracked APY.”) 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.
Cite as: SwitchWize, “The October 2026 Savings Rate Gap Index is $959 per year on a representative $25,000 balance.” Retrieved October 1, 2026.
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/bank-gap?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 |
|---|---|---|---|
| Chase | 0.01% | $1,053 | Oct 7, 2026 |
| Bank of America | 0.04% | $1,045 | Oct 7, 2026 |
| Citi | 0.03% | $1,047 | Aug 22, 2026 |
| Citibank | 0.03% | $1,047 | Oct 7, 2026 |
| Wells Fargo | 0.01% | $1,053 | Oct 7, 2026 |
| Marcus by Goldman Sachs | 3.50% | $180 | Oct 7, 2026 |
| U.S. Bank | 0.05% | $1,043 | Aug 22, 2026 |
| Capital One | 3.10% | $280 | Oct 7, 2026 |
| PNC Bank | 3.15% | $267 | Aug 22, 2026 |
| Truist | 0.01% | $1,053 | Aug 22, 2026 |
| TD Bank | 0.02% | $1,050 | Oct 7, 2026 |
| American Express | 3.10% | $280 | Oct 7, 2026 |
| Fifth Third Bank | 0.01% | $1,053 | Aug 22, 2026 |
| BMO | 0.01% | $1,053 | Aug 22, 2026 |
| Huntington Bank | 0.01% | $1,053 | Aug 22, 2026 |
| HSBC Bank | 0.10% | $1,030 | Oct 7, 2026 |
| Citizens | 0.01% | $1,053 | Aug 22, 2026 |
| First Citizens Bank | 0.10% | $1,030 | Oct 7, 2026 |
| CIT Bank | 0.25% | $993 | Oct 7, 2026 |
| M&T Bank | 0.01% | $1,053 | Aug 22, 2026 |
| Barclays | 4.00% | $55 | Oct 7, 2026 |
| Ally | 3.10% | $280 | Oct 7, 2026 |
| KeyBank | 0.02% | $1,050 | Aug 22, 2026 |
| Regions Bank | 0.01% | $1,053 | Aug 22, 2026 |
| Synchrony | 3.55% | $168 | Oct 7, 2026 |
| Washington Savings Bank | 0.05% | $1,043 | Oct 7, 2026 |
| Primis Bank | 0.10% | $1,030 | Oct 7, 2026 |
| SouthState Bank | 0.15% | $1,017 | Oct 7, 2026 |
| First Horizon Bank | 0.25% | $993 | Oct 7, 2026 |
| Wintrust Bank | 2.00% | $555 | Oct 7, 2026 |
| East West Bank | 2.50% | $430 | Oct 7, 2026 |
| Citizens Access | 2.80% | $355 | Oct 7, 2026 |
| Alto Bank | 3.00% | $305 | Oct 7, 2026 |
| LendingClub | 3.00% | $305 | Oct 7, 2026 |
| NBKC Bank | 3.00% | $305 | Sep 26, 2026 |
| Apple Bank | 3.03% | $298 | Oct 7, 2026 |
| Flagstar Bank | 3.20% | $255 | Oct 7, 2026 |
| SoFi | 3.30% | $230 | Oct 7, 2026 |
| Valley Direct | 3.30% | $230 | Oct 7, 2026 |
| DollarSavingsDirect | 3.35% | $217 | Oct 7, 2026 |
| MySavingsDirect | 3.35% | $217 | Oct 7, 2026 |
| Betterment | 3.50% | $180 | Oct 7, 2026 |
| Cash App | 3.50% | $180 | Oct 7, 2026 |
| Wealthfront | 3.55% | $168 | Oct 7, 2026 |
| Customers Bank | 3.63% | $147 | Oct 7, 2026 |
| Salem Five Direct | 3.66% | $140 | Oct 7, 2026 |
| Axos Bank | 3.75% | $117 | Oct 7, 2026 |
| BrioDirect | 3.75% | $117 | Sep 26, 2026 |
| E*TRADE | 3.75% | $117 | Oct 7, 2026 |
| Openbank | 3.80% | $105 | Oct 7, 2026 |
| Western Alliance Bank | 3.80% | $105 | Oct 7, 2026 |
| Forbright Bank | 3.85% | $92 | Oct 7, 2026 |
| Old National Bank | 3.85% | $92 | Sep 26, 2026 |
| Sallie Mae Bank | 3.85% | $92 | Oct 7, 2026 |
| Texas Capital | 3.85% | $92 | Oct 7, 2026 |
| Zynlo Bank | 3.85% | $92 | Oct 7, 2026 |
| Popular Direct | 3.90% | $80 | Oct 7, 2026 |
| Prime Alliance Bank | 3.90% | $80 | Oct 7, 2026 |
| TAB Bank | 3.95% | $67 | Oct 7, 2026 |
| Accordia | 4.00% | $55 | Oct 7, 2026 |
| Bread Savings | 4.00% | $55 | Oct 7, 2026 |
| EagleBank | 4.00% | $55 | Oct 7, 2026 |
| Limelight Bank | 4.00% | $55 | Aug 17, 2026 |
| Mitten | 4.01% | $52 | Sep 28, 2026 |
| Vio Bank | 4.01% | $52 | Oct 7, 2026 |
| EverBank | 4.20% | $5 | Oct 7, 2026 |
| Newtek Bank | 4.20% | $5 | Oct 7, 2026 |
| Western State Bank | 4.20% | $5 | Oct 7, 2026 |
| PiBank | 4.25% | $0 | Oct 7, 2026 |
Monthly index reference table
| Month | Index value | Rate gap | Banks tracked |
|---|---|---|---|
| Oct 2026 | $959/yr | 3.84% | 63 |
| Sep 2026 | $959/yr | 3.84% | 63 |
| Aug 2026 | $930/yr | 3.72% | 56 |
| 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.