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Brian McKay

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Brian is the Co-Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.

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| September 8, 2026 | 5 min read

High-Yield Savings Rates Hold Just Under 2.00% as Most Savings Averages Edge Up

High-yield savings rates held nearly steady at 1.996% this week, just under an average rate of 2.00%. Standard savings rates rose for a second straight week to 0.817%, and jumbo savings rates posted the week's largest gain, climbing to 1.275% with the Federal Reserve's September meeting a week away.

High-yield savings account rates edged up 0.008 points this week to an average 1.996%, just under 2.00%. Most other average savings account rates rose too since our August 31 report: standard savings rates added 0.015 points to 0.817%, their second straight gain, and jumbo savings rates climbed 0.023 points to 1.275%, recovering most of what they gave up a week earlier. Business savings rates held nearly steady at 0.527%, and credit union savings rates were unchanged at 0.274%.

High-yield savings rates settle just under 2.00%

Savings rates by account category, national average APY since late March

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 rose 0.008 points to 1.996% this week. That follows a 0.140-point increase in mid-August and a 0.132-point drop at the end of the month. High-yield savings is the smallest group we track, a few hundred banks, so repricing by a handful of them can move its average noticeably in either direction; this week few banks changed anything. High-yield accounts still pay well over twice the standard savings average, and no category changed places.

Standard savings rates rise for a second week

Standard savings rates, the rate on a basic branch savings account, rose 0.015 points to 0.817%. That makes two gains in a row totaling 0.033 points, after three weeks of declines through late August. Jumbo savings rates rose more than any other category, up 0.023 points to 1.275%, which recovers most of the 0.035 points they lost a week earlier. Business savings rates held nearly steady at 0.527% after their jump in late August, and credit union savings rates were unchanged at 0.274%. The average high-yield account pays 1.179 points more than the average standard account; on a $25,000 balance that is about $204 a year in an average standard account versus about $499 in an average high-yield account, roughly $295 apart.

Weekly change by savings category (percentage points)

This report's averages, August 31 to September 8. Green bars rose; red bars fell.

Savings rates this week: August 31 vs. September 8

Savings accounts and next week's Fed decision

The Federal Reserve announces its next rate decision Wednesday, September 16, and futures markets have treated a quarter-point increase as a close call since late August. The benchmark rate has sat at 3.50% to 3.75% since December, and three committee members voted to raise it back in July. What makes this meeting different for savings accounts than for CDs is the variable rate. A saver holds no fixed term: if the Fed raises its benchmark next week, a bank can lift the rate on accounts its customers already have, with nothing to sign and no new account to open. Whether a given bank does, and how quickly, is that bank's call; after the last increase, some moved within days and others took months or passed along only part of it. That is why the averages on this page are worth rechecking in the weeks after a decision, whichever way it goes.

How savings accounts compare with CDs right now

While savings averages barely moved, average CD rates rose on every term in this week's CD report, so the average 12-month CD now pays 0.868 points more than the average high-yield savings account, a wider advantage than last week's 0.842. The trade-off hasn't changed: a CD locks its rate for the term, while a savings account keeps its flexibility and would follow any Fed increase that banks pass through. Our savings calculator shows what any balance earns at the rates you're weighing. Savers checking local offers can line up Texas savings rates against these national averages, and category history is on our savings rate trends page.

The bottom line going into the Fed meeting

Savings averages spent the week before the Fed meeting drifting slightly higher, with high-yield accounts at 1.996% and every category at or above where it stood on August 31 except a nearly flat business average. Next week's decision matters more for savings accounts than most weeks' news does, because variable rates would carry an increase through to accounts savers already hold. The move that pays regardless of the decision is the same as ever: on a $25,000 balance, an average high-yield account earns about $295 a year more than an average standard account. Our guide on why you should have both savings and checking accounts covers how the pieces fit together.