California Savings Rates for October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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California savings account rates range from 2.45% to 6.60% APY, verified by MonitorBankRates as of October 27, 2026. The best savings rates for California include Schools Federal Credit UnionSchools Federal Credit Union20101 Hamilton Ave Ste 150, Torrance, CA 90502 1306A+5.0 ★Texas Ratio: 1.87%Real return: +2.90%APY minus 3.7% CPIRate verified Oct 23, 2026 Summer Safeguard Savings at 6.60% APY, F&A Federal Credit UnionF&A Federal Credit Union2625 CORPORATE Pl, MONTEREY PARK, CA 91754A+5.0 ★Texas Ratio: 1.14%Real return: +2.48%APY minus 3.7% CPIRate verified Oct 23, 2026 Youth Savings Account at 6.18% APY, Sun Community Federal Credit UnionSun Community Federal Credit Union1068 Broadway Ave, El Centro, CA 92243 2315A+5.0 ★Texas Ratio: 2.05%Real return: +2.30%APY minus 3.7% CPIRate verified Oct 23, 2026 Hello Summer Savings at 6.00% APY, USC Credit UnionUSC Credit Union3720 S Flower St FL 4, Los Angeles, CA 90089A+5.0 ★Texas Ratio: 5.49%Real return: +2.30%APY minus 3.7% CPIRate verified Oct 26, 2026 SmartStart Savings at 6.00% APY, and LBS Financial Credit UnionLBS Financial Credit Union4436 Atlantic Ave, Long Beach, CA 90807A+5.0 ★Texas Ratio: 2.34%Real return: +2.30%APY minus 3.7% CPIRate verified Oct 26, 2026 Summer Savings Accounts at 6.00% APY.
Use the tables below to compare savings rates across California side-by-side. California savings rates currently reach as high as 6.60% APY from Schools Federal Credit Union at 20101 Hamilton Ave Ste 150, Torrance, CA 90502 1306. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in California and the surrounding area. Last Updated and Verified: October 27, 2026
Compare the Best Savings Rates in California
Minimum: Automatic Contribution; Maximum contribution of $2,000 per month from a qualified source, such as payroll from LAUSD or LACCD
Balance: $0.00 - $1,000.00; Preferred rate for youth up to age 261/2 with checking account; minors aged 13 and above qualify; Eligibility: must be a minor, or up to age 261/2 with eStatements
- Oct 23, 20266.18%▲ from 0.25%
- Oct 15, 20260.25%first recorded
Qualifying balance up to $1,000.00
Anticipated rates; Must be school/college employee and set up payroll deduction
Balance: $25 - $2,500; School Employees only, working 10 month schedules to help save for summer months; Requires an electronic direct deposit between $25-$2,500 monthly deposit; No cash or checks deposit allowed; Minimum average daily balance required to earn dividends
Dividend Minimum: $50.00; Certificated and classified school employees of Board approved SEGs eligible for Summertime Savings bonus rate; maximum deposit $3,000 per month
Program year June 15, 2026 - June 15, 2027; fixed rate for entire program year; deposit $50 - $2,000 each month via direct deposit or payroll deduction; dividends paid quarterly and at maturity June 15, 2027; one-time additional deposit up to $2,000 allowed; limit 1 per member
Balance: $25 - $500; Introductory APY limited to one account per tax-reporting owner; available on accounts opened between October 17, 2026 and December 31, 2026; requires $25 new money from another financial institution and maintaining $25 minimum balance for first three months; rates are variable and may change monthly; dividends paid monthly
Balance: $25 - $500; Introductory APY limited to one account per tax-reporting owner; available on accounts opened between October 17, 2026 and December 31, 2026; requires $25 new money from another financial institution and maintaining $25 minimum balance for first three months; rates are variable and may change monthly; dividends paid monthly
- Oct 4, 20265.10%▲ from 0.23%
- Sep 14, 20260.23%first recorded
Earn 5.00% APY on savings as part of the Axos ONE checking and savings bundle; up to $2.5 MM in expanded coverage under Axos Insured deposit program
Up to 5.00% APY on savings; part of Axos ONE savings and checking bundle; no monthly maintenance, balance, opening, or overdraft fees; early payday up to 2 days early; up to $2.5 MM expanded coverage under Axos Insured deposit program
- Oct 14, 20265.00%▲ from 4.21%
- Sep 30, 20264.21%first recorded
Balance: $0 - $500; Open Online; No minimum to earn blended rate interest; No monthly service charge; Checking account required to open
Balance: $0 - $500; No minimum to earn blended rate interest; No monthly service charge; Checking account required to open; Open Online
Balance: $0 - $499.99; Featured tiered rate as high as 5.00% APY; Deposit or withdraw as needed; No monthly service fee; Dividends accrued daily and paid monthly
Balance: $0 - $499.99
Up to 5.00% APY; Dividends credited Monthly
Balance: $100.00 - $5,000.99; APY dividend of 5.00% earned on balances $100.00 to $5,000.99; balances $5,001.00 and above earn 0.20% APY; requires open checking account under the same membership number; must be 22 years or older; one per Social Security or Taxpayer Identification Number; rates subject to change without notice after account opening
Balance: $5 - $5,000; Max. to Earn APY: $5000; 5.00% APY applies to balance up to $5,000
Qualifications Required; Balance: $0.00 - $500.00; Featured APY on balances up to $500.00 with a First Entertainment Checking Account, eStatements only, and active online Bill Pay or Direct Deposit; One First500 Account per Social Security Number
Ages: 17 and under; Balance: $0.00 - $500.00; Requires Digital Banking and eStatements enrollment with internet access; Parent or legal guardian must be Joint Owner; Balances above $500 earn the First500 Savings Base Rate (not published on page)
Balance: $0-$499.99; Visit A Branch to Open Account
Bonus dividend rate for new members only, paid for the first 12 months from account opening; Balance: $0.01 - $2,500.00; Anticipated APY 5.0%; Non-bonus rate 0.05% with APY 0.05% on balances of $2,500.01 and greater; Offer subject to change without notice
Balance: $0.00 - $5,000.00; Tiered: balances $5,000.01-$10,000 earn lower dividend rate; balances $10,000.01+ earn lower dividend rate; No monthly fee
Balance: $0-$5,000; Variable-tiered rate, each tier accrues at its respective rate; One Harvest Savings account per member; Must register & use Online/Mobile Banking
Balance: $0-$5,000; $5.00 monthly fee if balance falls below $100; One Harvest Savings account per member
Balance: Up to $25,000; New members only
- Oct 14, 20264.50%▲ from 4.41%
- Oct 7, 20264.41%▲ from 0.10%
- Sep 18, 20260.10%▼ from 4.41%
- Sep 15, 20264.41%first recorded
Must open a new Jumbo CD (minimum $10,000 opening deposit) to open a Companion Savings Account. Deposits up to the principal amount of the CD.
Citigold Private Client Relationship Tier (Combined Average Monthly Balance of $1,000,000+); Balance: All balance ranges
Fixed rate share certificate; limited to Members buying a home and participating in SchoolsFirst FCU Home360; limit one per membership; additional deposits allowed to maximum balance of $150,000; partial withdrawals not permitted
- Sep 29, 20264.25%▲ from 4.05%
- Sep 14, 20264.05%first recorded
Balance: $100 to $10,000; Available only to new members during the first thirty (30) days from the date of opening a membership; Variable rate account
New accounts only; variable rate, APY may change without notice; interest compounded daily; no minimum balance required; no monthly maintenance fee; available exclusively online and by phone
- Oct 7, 20264.20%▲ from 3.90%
- Sep 18, 20263.90%first recorded
Qualifications Required; LevelUp Rate applies when at least $250 in cumulative deposits is made during the statement cycle (Evaluation Period); otherwise the Standard Rate of 3.00% APY applies the next month; LevelUp Rate applied to full balance; Online account
- Sep 25, 20264.20%▲ from 4.00%
- Sep 20, 20264.00%first recorded
Digital | Consumer HYSA
Up to 4.01% APY for up to 6 months; no minimum balance for APY; no monthly maintenance fees; no minimum initial deposit
- Oct 6, 20264.01%▲ from 3.75%
- Sep 30, 20263.75%first recorded
Balance: All Balances; Interest compounded daily; Open online; $5 monthly fee if paper statements received; rates effective as of 10/23/2026
12-month introductory promotion for new customers; introductory rate is the standard rate plus 0.67%; minimum daily balance of $0.01 required to obtain the advertised APY; online only
Available for children under 18; parent or legal guardian must be a joint account holder; $25 bonus deposited upon account opening; benefits continue after age 18; $0 monthly fees; promotional APY accurate as of October 1, 2026, rate may change after account is opened
- Oct 2, 20264.00%▲ from 3.75%
- Sep 18, 20263.75%first recorded
Balance: $.01 - $500.00; In-Branch Only
Promotional APY on balances greater than or equal to $10,000 for the first 180 days after account opening; new personal savings money only; reverts to non-promotional rate after 180 days
- Oct 14, 20264.00%▲ from 3.75%
- Sep 14, 20263.75%first recorded
Qualifications Required; Balance: $0.00 - $25,000.00; Balance up to $25,000.00 earns 4.00% APY when the accountholder has direct deposit(s) of at least $500.00 to a Freedom Direct, Justice National, Beyond the Badge or Student checking account during a month; balances over $25,000 earn 0.150% APY and balances in months when qualifications are not met earn the standard Share Savings APY starting at 0.100% (not extracted as separate rows)
Balance: <= $25,000; Requires minimum monthly average daily balance of $500, minimum $25 per month auto transfer from Rize checking, digital banking and eStatements enrollment
Qualifications Required; Qualifying balance up to $25,000.00; Non-qualifying rate 0.00% APY; Rates effective 3/25/26
Qualifying balance up to $999.99
Balance: $1,000.01 - $10,000.00
Balance: $0.01-$1,000.00; Apply Online
Balance: $0.01-$1,000.00; Highest yield on balances up to $1,000; Apply for Youth Savings
Balance: $0.01 - $4,999.99; Dividend rate effective 10/25/2026
Last declared dividend rate as of the last dividend declaration date; dividends compounded and credited annually
Qualifications Required; Balance: $0.01 to $5,000.00; Tiered Earnings for Qualified Accounts; Effective 09/01/2026
Balance: $0 - $2,000.00; Rate Type: Variable
Promotional rate on all balances for up to 6 months; open with a Basic Business Checking account; promo code BOOST41; Earn up to 3.91% APY on all balances
Balance: $0.01 and over earns advertised APY; no account fees; FDIC insured up to $250,000 per account owner; individual or joint account; funded by linking an existing checking or savings account; online opening only
Balance: $5,000 and over
- Oct 14, 20263.75%▲ from 0.25%
- Sep 24, 20260.25%first recorded
Earn up to 3.50% APY when you are an account owner of a Bank Smartly Checking, Safe Debit account, or Bank Smartly Visa Signature Card and have a Combined Qualifying Balance (CQB) of at least $25,000; APYs may vary by location; Monthly maintenance fee $5, waivable
Monthly Service Fee: Free; Monthly Paper Statement Fee: Free
- Sep 27, 20263.44%▼ from 3.50%
- Sep 18, 20263.50%first recorded
Balance: All Balances; Interest compounded daily; Only $100 minimum to open; No monthly fee; $5 monthly fee if you receive paper statements; Online account opening
Balance: $50,000 and over
Balance: $0-$9,999.99
California counties only; Balance: $25,000 or more; Rate is variable; requires deposit and maintenance of $25,000 or more in new Platinum Savings within 30 days; new savings customers only
Balance: $1 or more; Relationship APY when HSBC Premier relationship requirements are met; Not available to business customers
Minimum contract amount $1,000; contract amount may increase in multiples of $1,000, $100,000 maximum per customer; interest compounded daily, credited every 3 months; early withdrawal penalty applies; rates effective as of January 23, 2026
Standard Rate earned when less than $250 in deposits is made during the Evaluation Period
Balance: $0.01 - $4,999.99; variable APY subject to change daily after account opening; APY accurate as of 07/17/2026
Online account opening required; available online for Guam and CNMI and in branches for all other regions; no minimum daily balance required to obtain APY; opening deposit not required; maintenance fee $5.00, waived if enrolled in e-Statements; must be funded within 30 days of opening; APY accurate as of 10/01/2026, interest compounded and credited monthly; rate is variable and can change before or after account opening
Minimum contract amount $1,000; contract amount may increase in multiples of $1,000, $100,000 maximum per customer; interest compounded daily, credited every 3 months; early withdrawal penalty applies; rates effective as of January 23, 2026
Balance: $250,000+
Balance: $50,000.00 and over; No monthly maintenance charge; APYs accurate as of 12/11/2025
Balance: $100,000-$249,999
Up to 2.53% APY; Banner checking account required; minimum opening balance of $25,000 must be new money to Banner Bank; public fund accounts not eligible; relationship balance below $25,000 earns 0.25% APY per footnote; APY accurate as of 8/20/2026
Minimum contract amount $1,000; contract amount may increase in multiples of $1,000, $100,000 maximum per customer; interest compounded daily, credited every 3 months; early withdrawal penalty applies; rates effective as of January 23, 2026
Balance: $50,000-$99,999
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
California Savings Rate Trends
Compare local California savings rate quotes against the statewide average
Daily savings rate averages tracked across our database of 8,500+ banks and credit unions, updated every evening.
California high-yield savings rates fell 0.052 points over the past 7 days to 2.683% APY, down from 2.735%.
California standard savings rates fell 0.069 points over the past 7 days to 0.687% APY, down from 0.756%.
California Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current CA high-yield average and a Fed funds spread to project the likely rate trajectory for 2026 to 2027.
Savings account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current CA high-yield savings average of 2.683% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60 to 90 days. High-yield online savings rates tend to adjust faster than standard branch-based savings rates.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in California.
Savings Account Earnings in California
Annual interest earnings at current CA average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (2.683% APY) | Monthly Earnings | Standard Savings (0.687% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $134.13 / year | $11.18 | $34.35 / year | $2.86 |
| $10,000 | $268.25 / year | $22.35 | $68.70 / year | $5.73 |
| $25,000 | $670.63 / year | $55.89 | $171.75 / year | $14.31 |
| $50,000 | $1,341.25 / year | $111.77 | $343.50 / year | $28.63 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, and daily balance maintained. Rates are variable and subject to change. Source: California savings rate averages as of October 28, 2026. | ||||
About Our California Savings Rate Database
MonitorBankRates tracks 825 savings rates from 25 banks and 30 credit unions offering savings accounts to California residents, including community institutions, regional banks, and national online options. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website, no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1 to 5), and Texas Ratio, objective financial health metrics calculated from FDIC and NCUA regulatory data, so you can compare yield and institutional safety in one place.
Current top rate: Schools Federal Credit Union offers a savings account at 6.60% APY. Use the rate table above to compare all current offers in California.
How to Find the Best Savings Rates in California
What to compare when shopping for a savings account in California
To find the best savings APYs in California, start with credit unions and online-only banks: California has 30 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate. APY reflects compounding and is the true measure of what you’ll earn. Savings accounts that compound daily earn slightly more than those compounding monthly at the same stated rate. The current CA high-yield savings average is 2.683% but top local institutions are offering as high as 6.60%, so shopping around pays off.
Unlike a CD, savings account rates are variable. Your rate can change at any time with Federal Reserve policy. Many institutions offer elevated introductory rates that reset after a promotional period. Review your account periodically to ensure your APY remains competitive.
When a High-Yield Savings Account Makes Sense
- Emergency fund: Financial experts recommend 3 to 6 months of expenses in a liquid, FDIC-insured account. California high-yield savings rates currently average 2.683% APY, far above a typical checking account.
- Short-term savings goals (6 to 24 months): If you may need the money soon, a savings account gives you immediate access without early withdrawal penalties.
- Parking cash between investments: A high-yield savings account at California institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 55 institutions in California report savings rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return California CD rates
- You want check-writing flexibility California money market rates
- You need daily transaction access California checking rates
California Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
15.7% of residents are 65 or older, below the national average of 17.3%; an unemployment rate of 6.6% (vs. 4.8% nationally) underscores the value of keeping liquid emergency savings. At today’s CA high-yield savings average of 2.683%, saving 10% of the local median salary ($4,903/year) would earn an additional $132 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other California Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in California.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current CA Avg APY | 2.683% | 0.687% | View MMA Rates | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✗ No | ✗ No | ✓ Often yes | ✗ No |
| Debit / ATM Card | Some institutions | ✗ Rarely | ✓ Often yes | ✗ No |
| Typical Min Deposit | $0 to $100 | $25 to $100 | $0 to $2,500 | $500 to $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | None, locked for term |
| Best For | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Active savers wanting flexibility + check writing | Locking in a rate for a defined period |
APY data reflects California averages tracked in our database as of October 28, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for California
At CA’s top rate of 6.60% from Schools Federal Credit Union, a $10,000 deposit earns $660 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median California earner is roughly $12,300. At 2.683% APY, saving $1,020/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsCalifornia’s high-yield savings average is 2.683% APY, variable and always accessible. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median California earner makes $49,032/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 2.683% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.683% APY grows to roughly $42,449 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our California savings rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for California directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every savings rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in California. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in CA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Because savings account yields can fluctuate rapidly, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Savings Accounts in California
What are savings account rates in California today?
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in California safe?
How often do savings rates change in California?
Do I need a minimum deposit to open a savings account?
What is the difference between a Savings Account and a Money Market Account?
Are online banks better than local banks in California?
How do I open a savings account in California?
Best Savings Rates in California
- Schools Federal Credit Union
Summer Safeguard Savings: 6.60% APY - F&A Federal Credit Union
Youth Savings Account: 6.18% APY - Sun Community Federal Credit Union
Hello Summer Savings: 6.00% APY - USC Credit Union
SmartStart Savings: 6.00% APY - LBS Financial Credit Union
Summer Savings Accounts: 6.00% APY
California Rates & Resources
Cities in California
