Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Business Savings Rates Rise to 0.633% as High-Yield Savings Rates Fall to 1.950%
Business savings rates rose 0.057 points to 0.633% between October 5 and October 12. High-yield savings rates fell 0.035 points to 1.950%, and jumbo savings rates fell 0.034 points to 1.194%.
Average savings rates moved in both directions between October 5 and October 12. Rates on high-yield savings accounts fell 0.035 points to an average 1.950%, and jumbo savings rates fell 0.034 points to 1.194%. Business savings rates rose 0.057 points to 0.633%, the largest change of the week, and credit union savings rates rose 0.009 points to 0.260%. Standard savings rates held steady at 0.819%.
Key takeaways
- High-yield savings rates fell 0.035 points to 1.950%; the average was 1.985% on October 5 and 1.965% on September 28.
- Business savings rates rose 0.057 points to 0.633%, the largest change of the five categories.
- Jumbo savings rates fell 0.034 points to 1.194%; about 117 institutions report jumbo savings rates.
- On a $25,000 balance, the high-yield average pays about $487.50 a year, against $204.75 at the standard savings average.
High-yield savings rates fell 0.035 points to 1.950%
Savings rates by account category, national average APY since April 13
Average APYs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
The average high-yield savings rate fell 0.035 points to 1.950% this week. The average was 1.978% on September 21, 1.965% on September 28, and 1.985% on October 5. About 279 banks report high-yield savings rates. On a $25,000 balance, the 1.950% average pays about $487.50 over a year, against $204.75 at the standard savings average.
Business savings rates rose 0.057 points; jumbo savings rates fell 0.034
Business savings rates rose 0.057 points to 0.633%, from 0.576% a week earlier. The business average was 0.530% on September 21, 0.535% on September 28, and 0.576% on October 5. Jumbo savings rates fell 0.034 points to 1.194%, after averaging 1.245% on September 28 and 1.228% on October 5. Credit union savings rates rose 0.009 points to 0.260%. Standard savings rates, the rate on a basic savings account, held steady at 0.819%.
Weekly change by savings category (percentage points)
This report's averages, October 5 to October 12. Green bars rose; red bars fell.
Savings rates this week: October 5 vs. October 12
| Account Category | October 5 APY | October 12 APY | Weekly Change |
|---|---|---|---|
| High-Yield Savings ▼Online banks & competitive products | 1.985% | 1.950% | ▼ -0.035 |
| Jumbo Savings ▼High-balance & platinum accounts | 1.228% | 1.194% | ▼ -0.034 |
| Standard Savings ▲Broad market | 0.817% | 0.819% | ▲ +0.002 |
| Business Savings ▲Business & commercial accounts | 0.576% | 0.633% | ▲ +0.057 |
| Credit Union Savings ▲Share savings & regular share accounts | 0.251% | 0.260% | ▲ +0.009 |
| Compare live offers: business savings accounts · jumbo savings accounts · compare savings rates | |||
| All APYs are national averages of what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates. Category averages reflect products matching MonitorBankRates.com's savings classification. This report compares October 12 with October 5. Source: MonitorBankRates.com. | |||
Savings rates 26 days after the Fed's increase
The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16, its first increase since 2023, and the benchmark has been at that level since. Savings rates are variable, so a bank can change the rate on accounts its customers already hold, with nothing to sign; the timing and size of each change is the bank's choice.
What $25,000 earns at the October 12 savings averages
At the 1.950% high-yield average, a $25,000 balance earns about $487.50 over a year; at the 0.819% standard savings average it earns about $204.75. The savings goal calculator works out how long a target takes at a given rate and monthly deposit, and the CD vs. high-yield savings calculator lines up the two products side by side. Savers checking local offers can compare Ohio savings rates against these national averages, and category history is on our savings rate history page.
Savings averages on October 12
High-yield savings rates average 1.950%, jumbo savings 1.194%, standard savings 0.819%, business savings 0.633%, and credit union savings 0.260%. Savings rates are variable, and each bank sets the timing and size of its own changes.
Data Coverage & Methodology
All APYs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates.
As of October 12, 2026, these averages were calculated from 18,353 individual rates verified at 3,723 banks and credit unions; the latest collection ran October 11, 2026. The table below shows how many institutions reported rates in each category.
| Account Category | Institutions | Rates Verified |
|---|---|---|
| High-Yield Savings | 279 | 742 |
| Jumbo Savings | 117 | 386 |
| Standard Savings | 2,329 | 6,084 |
| Business Savings | 491 | 969 |
| Credit Union Savings | 1,130 | 1,842 |
| Total (distinct institutions) | 3,723 | 18,353 |
Category counts overlap because an institution can offer accounts in more than one category; the total row counts each institution once.
This report is for general information and is not financial advice. The APY any saver receives depends on the institution, balance, and location; confirm current offers with institutions before making decisions.
