Redwood City, California Savings Rates for October 2026
Brian McKay
Brian McKay
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Redwood City, California savings account rates range from 0.01% to 5.00% APY, verified by MonitorBankRates as of October 28, 2026. The best savings rates for Redwood City, California and the surrounding area include CitiCiti1073 El Camino Real, Redwood City, CA 94063A+5.0 ★Texas Ratio: 2.82%Real return: +0.65%APY minus 3.7% CPIRate verified Oct 26, 2026 Savings account Premium Boost at 4.35% APY, Monterra Credit UnionMonterra Credit Union350 Convention Way, Redwood City, CA 94063A+5.0 ★Texas Ratio: 2.93%Real return: +0.30%APY minus 3.7% CPIRate verified Oct 26, 2026 Digital Savings at 4.00% APY, US BankUS Bank675 Jefferson Ave, Redwood City, CA 94063A+5.0 ★Texas Ratio: 2.85%Real return: -0.20%APY minus 3.7% CPIRate verified Oct 26, 2026 Bank Smartly Savings Account at 3.50% APY, Premier One Credit UnionPremier One Credit Union530 EL CAMINO REAL, REDWOOD CITY, CA 94063 1212A+5.0 ★Texas Ratio: 1.80%Real return: -0.20%APY minus 3.7% CPIRate verified Oct 26, 2026 IRA Share Account at 3.50% APY, and Wells FargoWells Fargo2099 Broadway St, Redwood City, CA 94063A+5.0 ★Texas Ratio: 5.36%Real return: -0.45%APY minus 3.7% CPIRate verified Oct 26, 2026 Platinum Savings - New Savings Customers at 3.25% APY.
Redwood City has 47 local institutions in our database, with savings rates as high as 4.35% APY from Citi at 1073 El Camino Real, Redwood City, CA 94063. Use the table below to compare all available offers, including options from institutions serving the broader California area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Redwood City, California and the surrounding area. Last Updated and Verified: October 28, 2026
Compare the Best Savings Rates in Redwood City, California & Surrounding Communities
Citigold Private Client Relationship Tier (Combined Average Monthly Balance of $1,000,000+); Balance: All balance ranges
Balance: $0.01 - $4,999.99; Dividend rate effective 10/25/2026
Qualifications Required; Bonus (higher) APY paid on average daily balances when monthly requirements are met; Premium Savings is a variable rate account
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
Balance: $25,000.00+; Minimum To Keep Open: $0.00; Minimum Earning Balance: $25,000.00+
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: $5,000.00 - $9,999.99; Dividend rate effective 10/25/2026
Balance: $0.00 - $24,999; Minimum To Keep Open: $0.00; Minimum Earning Balance: $0.00
Balance: $.01 - $30,000.00; Tiered rate account; homeowner required; Minimum To Keep Open: $5.00
Balance: $0.01 - $24,000; Balance paid out on June 1; Minimum To Keep Open: $0.00
Balance: $0 - $8,750; Minimum To Keep Open: $0.00; Minimum Earning Balance: $0.00; Contact Us Online
Balance: $10,000.00 - $19,999.99; Dividend rate effective 10/25/2026
Balance: $2,500 - $9,999
Maturity Date Jun 1 or Nov 11; Minimum To Keep Open: $5.00
Qualifying - Kasasa Saver Savings; Balance: $100 to $25,000
Balance: $20,000.00 and above; Dividend rate effective 10/25/2026
Balance: $8,750.01 and over; Minimum To Keep Open: $0.00; Minimum Earning Balance: $8,750.01+; Contact Us Online
Balance: $100; Start Saving for Your Future Today!
Qualifying - Kasasa Saver Savings; Balance: Portion of balance over $25,000.01
Last Updated: 02/01/2024
Everyday Benefits (Combined Average Monthly Balance $0 - $29,999.99); Balance: All balance ranges; Standard APY and Standard Interest Rate
California counties only; Balance: $0 or more; When linked to Premier Checking or Checking
CA Bay Area counties only; Balance: $0 or more
Minimum: $1 (share pledge)/ $0 (secondary savings)
Minimum: $1 (share pledge)/ $0 (secondary savings)
Base (lower) APY paid when Premium Savings monthly requirements are not met in their entirety
Minimum: $1 (share pledge) / $0 (secondary savings)
Balance: $100 to $999.99; Goals Account or Christmas Club
Balance: All balances in non-qualifying accounts
Balance: $100 to $999.99
Balance: $25
Minimum To Keep Open: $5.00
Minimum To Keep Open: $5.00
Minimum To Keep Open: $5.00
Balance: $24,000 and over; Balance paid out on June 1; Minimum To Keep Open: $0.00
Minimum To Keep Open: $5.00
Current rate 0.03% APY; no monthly fees; 100% of eligible transactions matched for first three months on first enrolled account; 5% matching on subsequent enrolled accounts up to $250 per year; floor rate 0.080% APY guaranteed through December 31; maximum opening deposit $3,000; maximum deposit $3,000 per month
Current rates between 0.03% APY - 0.08% APY depending on your account balance (low end shown); Basic savings account for all Provident members; can be used as overdraft source for Provident Checking
California counties only; Balance: $0 or more; When linked to Prime Checking or Checking
California counties only; Balance: $0 or more; Avoid $12 monthly service fee with $3,500 minimum daily balance
- Sep 27, 20260.01%▼ from 0.02%
- Sep 18, 20260.02%first recorded
California counties only; Balance: $0 or more; $25 minimum opening deposit
Balance: $1.00 - $499.99
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
Qualifications Required: Paid SoFi Plus subscription ($10/month); Balance: up to $20,000 in one SoFi Savings account; Requires paid SoFi Plus subscription ($10/month); No minimum balance requirement
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.
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
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
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
Qualifications Required; Earn APY by meeting one of the following criteria: Eligible Direct Deposit (monthly direct deposits to your account) or Qualifying Deposits of $5,000 or more every 31 days; No minimum balance requirement
Balance: $50,000 and over
Balance: $0-$9,999.99
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
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.
Redwood City, CA Savings Rate Trends
Compare local Redwood City, CA 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%.
Redwood City, 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 Redwood City, California.
Savings Account Earnings in Redwood City, 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: Redwood City, California savings rate averages as of October 28, 2026. | ||||
About Our Redwood City, California Savings Rate Database
MonitorBankRates found 10 institutions with branches in Redwood City (4 banks, 6 credit unions), plus 18 additional state-chartered and national online institutions available to Redwood City residents. 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: Citi offers a savings account at 4.35% APY. Use the rate table above to compare all current offers in Redwood City, California.
How to Find the Best Savings Rates in Redwood City, California
What to compare when shopping for a savings account in Redwood City, California
To find the best savings APYs in Redwood City, California, start with credit unions and online-only banks: Redwood City, California has 6 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 4.35%, 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. Redwood City, 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 Redwood City, California institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 28 institutions in Redwood City, 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 Redwood City, California CD rates
- You want check-writing flexibility Redwood City, California money market rates
- You need daily transaction access Redwood City, California checking rates
California Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau (state-level data shown; city data not available)
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 Redwood City, California Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Redwood City, 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 Redwood City, 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 Redwood City, California
At CA’s top rate of 4.35% from Citi, a $10,000 deposit earns $435 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Redwood City, 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 Redwood City, 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 Redwood City, 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 Redwood City, 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 Redwood City, 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 Redwood City, California
What are savings account rates in Redwood City, California today?
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Redwood City, California safe?
How often do savings rates change in Redwood City, 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 Redwood City, California?
How do I open a savings account in Redwood City, California?
Best Savings Rates in Redwood City, California
- Citi
Savings account Premium Boost: 4.35% APY - Monterra Credit Union
Digital Savings: 4.00% APY - US Bank
Bank Smartly Savings Account: 3.50% APY - Premier One Credit Union
IRA Share Account: 3.50% APY - Wells Fargo
Platinum Savings - New Savings Customers: 3.25% APY
Redwood City, California Rates & Resources
