High-Yield Savings Dips Below 2% to 1.997%;
4 of 5 Tiers Lower as Deposit Rates Ease
April 13, 2026

High-yield savings crossed below the 2% threshold this week, slipping to 1.997% APY. Four of five tracked tiers declined, led by business savings down 0.012 points. Only credit union savings edged higher.

📊 Full 5-tier savings data — drawn from 17,920 verified APY quotes from 3,435 institutions across all 50 states.

NATIONAL — High-yield savings accounts slipped below the 2% APY threshold for the first time in recent weeks, averaging 1.997% as of April 13, 2026, based on 533 verified rate quotes from 220 institutions tracked by MonitorBankRates.com. The 0.022 percentage point decline from last week’s 2.019% crossed a closely-watched level as online banks begin trimming deposit offers in response to easing funding cost pressure. Four of five tracked savings tiers moved lower; only credit union savings edged higher.

Breaking down by product tier, high-yield savings fell 0.022 points to 1.997% — the week’s largest decline by tier and a meaningful directional signal given that this product category had held above 2% through the prior period. The high-yield-to-standard spread narrowed slightly to 1.247 percentage points, down from 1.264 last week, as high-yield rates eased faster than standard savings. Jumbo savings dipped 0.004 points to 1.311% across 99 institutions, a modest move consistent with the gradual adjustments typical in the high-balance segment.

Standard savings fell 0.005 points to 0.750% across 2,120 institutions, remaining the broadest tier in the dataset. Business savings posted the second-largest decline at −0.012 points to 0.489% across 372 commercial accounts, a category that tends to adjust more actively than consumer standard savings as treasury and cash management teams reprice. Credit union savings was the sole gainer, adding 0.006 points to 0.296% across 1,012 institutions — a countertrend move consistent with credit unions’ historically slower and more member-driven rate adjustment cycle.

The 1.247 percentage point spread between high-yield and standard savings remains well above historical norms and continues to reward savers who actively compare rates. On a $10,000 balance, the difference between earning 0.750% and 1.997% APY translates to approximately $125 in additional annual interest compounded daily. Track how this spread evolves week to week on the national savings rate trends page.

The broad easing in savings rates this week mirrors the pattern seen in the CD market, where seven of eight terms also declined. With the Federal Reserve holding rates steady and bond market volatility from early April’s tariff developments pushing Treasury yields lower, institutions face reduced competitive pressure to maintain elevated deposit rates. Online banks and fintech lenders — the primary drivers of high-yield savings rates — tend to be among the fastest to reprice when their wholesale funding costs ease, which explains why the high-yield tier led this week’s declines at −0.022 points.

For depositors, the 2% threshold crossing is a signal worth monitoring. If high-yield rates continue to drift lower in coming weeks, the gap between the most competitive offers and the national average will narrow, reducing the urgency to switch but not eliminating the case for rate shopping. The 1.247 percentage point spread between high-yield and standard savings remains substantial — savers in standard accounts are still leaving meaningful yield on the table. Compare the best savings rates from banks and credit unions nationwide →