Savings Rate Watch
September 2026 Savings Rate Watch: Where Cash Still Earns More
A monthly read on where savings rates stand, what moved, and who should act. The best high-yield savings accounts pay about 4.20% APY while the national average sits near 0.38% — a spread of roughly 3.82 points that idle cash gives up for nothing.
Rates reviewed September 22, 2026 · SwitchWize Research Desk
Executive summary
Source: S&P Capital IQ Pro; SNL Financial Data. Calculations: FDIC. Reflects the $2,500 product tier for savings and interest checking accounts.
Current deposit-rate leaders
The highest current observations across four cash categories. Product terms, balance tiers, and eligibility can differ, so confirm the provider's disclosure before acting.
High-yield savings
Compare all| Institution | Observed APY |
|---|---|
| Newtek | 4.20% |
| Pibank | 4.10% |
| Peak | 4.01% |
| Vio | 4.01% |
| Accordia | 4.00% |
Certificates of deposit
Compare all| Institution | Observed APY |
|---|---|
| Bread | 4.50% |
| Popular Direct | 4.50% |
| Popular Direct | 4.50% |
| Eaglebank | 4.45% |
| Merrick | 4.45% |
Money market accounts
Compare all| Institution | Observed APY |
|---|---|
| Bank5 Connect | 4.00% |
| Quontic | 3.90% |
| Zynlo | 3.90% |
| Cfg | 3.80% |
| Prime Alliance | 3.75% |
Interest checking
Compare all| Institution | Observed APY |
|---|---|
| Tab | 2.75% |
| Bank5 Connect | 2.00% |
| UFB Direct | 2.00% |
| Zynlo | 2.00% |
| Nbkc | 1.75% |
Notable upward moves
- LangleySavings +355 bps to 3.60%
- TabSavings +34 bps to 3.95%
- BettermentSavings +25 bps to 3.50%
- CustomersSavings +25 bps to 3.63%
- WealthfrontSavings +25 bps to 3.55%
- Live OakSavings +10 bps to 4.00%
- Sallie MaeSavings +10 bps to 3.85%
- MarcusMoney market +10 bps to 3.50%
- QuonticMoney market +10 bps to 3.90%
Notable downward moves
- CIT BankMoney market -255 bps to 1.55%
- VioMoney market -59 bps to 3.40%
- Sallie MaeMoney market -15 bps to 3.60%
- BarclaysSavings -10 bps to 3.20%
What changed for savers
The Bank Gap — the spread between the best high-yield rate and the national average — moved from 3.72 points to 3.72 points month over month, a widening of 0.00 points. When the gap widens, staying put costs more; when it narrows, the urgency eases but the gap rarely closes entirely.
The practical takeaway is unchanged: cash earning the national average is leaving roughly 3.82 points on the table versus the best FDIC-insured accounts.
Who should act now
Anyone holding meaningful cash at a national-average rate. The switch to a top FDIC-insured account is online, takes minutes, and moves your rate to the top of the market immediately.
See your Rate GapWho can wait
Savers already in a competitive account near the top rates above. Monitor for downward repricing and keep an eye on CDs if you want to lock a rate before further cuts.
Run Money MapMethodology
Top APYs and rate moves are computed from SwitchWize's own rate observations across savings, CDs, money market, and checking over the trailing 30–45 days. The national average is the FDIC published figure, and the Bank Gap series comes from our monthly index. No rate figure is estimated or projected. Full sourcing is on the methodology page.
Past editions
Each edition is fixed at its reading date and is never revised, so the figures stay checkable. Cite these rather than this page, which updates continuously.