Arlington Heights, Illinois Savings Rates - October 2026
Brian McKay
Brian McKay
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Arlington Heights, Illinois savings account rates range from 0.01% to 5.12% APY, verified by MonitorBankRates as of October 23, 2026. The best savings rates for Arlington Heights, Illinois and the surrounding area include Alero Financial Credit UnionAlero Financial Credit Union830 E Kensington Rd, Arlington Heights, IL 60004A+5.0 ★Texas Ratio: 4.69%Real return: +0.05%APY minus 3.7% CPIRate verified Oct 22, 2026 Business Prosperity Savings at 3.75% APY, Metro Federal Credit Union Arlington Heights, ILMetro Federal Credit Union Arlington Heights, IL2440 E Rand Rd, Arlington Heights, IL 60004 5802A+5.0 ★Texas Ratio: 4.23%Real return: -1.17%APY minus 3.7% CPIRate verified Oct 23, 2026 Kids Club Savings at 2.53% APY, Village Bank and Trust National AssociationVillage Bank and Trust National Association234 W Northwest Hwy, Arlington Heights, IL 60004A+5.0 ★Texas Ratio: 1.60%Real return: -1.70%APY minus 3.7% CPIRate verified Oct 22, 2026 Statement Savings Advanced Special at 2.00% APY, Parkway Bank and Trust CompanyParkway Bank and Trust Company1400 West Algonquin Road, Arlington Heights, IL 60005A5.0 ★Texas Ratio: 8.65%Real return: -2.20%APY minus 3.7% CPIRate verified Oct 23, 2026 Kasasa Saver Savings at 1.50% APY, and Consumers Credit UnionConsumers Credit Union950 E Rand Rd, Arlington Heights, IL 60004A5.0 ★Texas Ratio: 6.15%Real return: -2.54%APY minus 3.7% CPIRate verified Oct 20, 2026 Health Savings Account at 1.16% APY.
Arlington Heights has 25 local institutions in our database, with savings rates as high as 3.75% APY from Alero Financial Credit Union at 830 E Kensington Rd, Arlington Heights, IL 60004. Use the table below to compare all available offers, including options from institutions serving the broader Illinois area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Arlington Heights, Illinois and the surrounding area. Last Updated and Verified: October 23, 2026
Compare the Best Savings Rates in Arlington Heights, Illinois & Surrounding Communities
Early withdrawal penalties apply; Business accounts must be opened by Alero Financial staff
Balance: $0.01 - $500; Compounded: Monthly
- Sep 29, 20262.53%▲ from 2.50%
- Sep 17, 20262.50%first recorded
New money only; With qualifying activities; Variable rate; No minimum to open; $200 daily balance to avoid a $5 monthly maintenance fee; Minimum daily balance of $0.01 required to obtain APY; APY accurate as of 2/27/26
Qualifications Required; Balance: $0 - $100,000
- Oct 23, 20261.50%▲ from 1.30%
- Sep 20, 20261.30%first recorded
Balance: $250,000+; Rates effective May 23, 2025
Balance: $0.01 and over; Compounded: Monthly
Balance: $0.01 and over; Dividends compounded monthly; APY = Annual Percentage Yield
Balance: $100,000 - $249,999.99; Rates effective May 23, 2025
Balance: $25,000.00 - $99,999.99; Rates effective May 23, 2025
Balance: $0.00 - $24,999.99; Rates effective May 23, 2025
Balance: $500.01 and Over; Compounded: Monthly
Balance: $25,000 and Over; Compounded: Monthly
Balance: $10,000 - $24,999; Compounded: Monthly
Balance: $5,000 - $9,999; Compounded: Monthly
Compound Frequency: Monthly; Effective: 9/30/2026
Balance: $100 - $4,999; Compounded: Monthly
Early withdrawal penalties apply; Business accounts must be opened by Alero Financial staff
Balance: All balances if qualifications not met
- Oct 23, 20260.05%▼ from 1.30%
- Sep 20, 20261.30%first recorded
Required daily balance to open and earn stated APY; Interest Rate as of 10/16/26
Balance: $0
Balance: $1.00 - $499.99
Qualifications Required; Balance: $0 - $5,000.00; Qualifying balance up to $5,000.00
Balance: $0 - $999.99; Blended rate account, Tier 1 rate applies only to the first $999.99; Valid thru 10/31/2026
APY dividend of 5.00% earned on balances $100.00 to $5,000.99; balances $5,001.00 and above earn 0.20% APY; dividend rate and APY subject to change without notice after account opening; requires open checking account under same membership number; must be 22 or older; one per Social Security or Taxpayer Identification Number; converts to Regular Savings if checking account closes; Minimum Balance/Average Daily Balance: $5/$100
Balance: $0 - $5,001; New members only; Online Only; Tiered account
Balance: $1,000,000+; Tiered account
Dividends compounded daily; Share rates subject to monthly change
Dividends compounded daily; Share rates subject to monthly change
Dividends compounded daily; Share rates subject to monthly change
For minors up to age 18; no minimum balance; annual deposits limited to $3,500.00
Introductory promo for new customers; 12-month introductory promotion; minimum daily balance of $0.01 required to obtain the advertised APY; Online Only
Qualifications Required; Balance: 0 to $50,000; Qualifying balance up to $50,000
- Oct 14, 20264.00%▲ from 0.05%
- Sep 9, 20260.05%first recorded
Balance: $.01 - $500.00; In-Branch Only
Balance: $5,002 - $14,999; Tiered account
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)
Qualifications Required; Balance: $100,000.01 and over; Unlimited withdrawals; No monthly fee
Effective Date: October 1, 2026
- Oct 22, 20263.98%▲ from 3.72%
- Sep 14, 20263.72%first recorded
Balance: $5,000-$100,000; Daily Balances Of $5,000-$100,000
Balance: $0.01 and over
Balance: $0.01 and over
Balance: $0.01 and over; Must be titled as joint tenants with rights of survivorship. Primary account owner must be under the age of 18.
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: $250,000 - $999,999; Tiered account
Published APY range: 3.62% to 5.00%. Balance: $1,000 - $1,999.99; Blended rate tier; Valid Thru: 10/31/2026
Valid Thru: 10/25/2026
Balance: $0.00 - $5,000.00; Dividend paid monthly on the average daily balance; Rates are valid on the first $5,000, anything over $5,000 earns 0.500% APY; Rate may change after the account is opened
Balance: $0.00 - $5,000.00; Dividend paid monthly on the average daily balance; Rates are valid on the first $5,000, anything over $5,000 earns 0.500% APY; Rate may change after the account is opened
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
Qualifications Required; Balance: $0.01 - $100,000.00; 2nd tier (balances $100,000.01 or greater) earns 0.10% with APY ranging from 3.50% to 1.87%; if Kasasa Cash qualifications are not met, rate and APY are 0.02%
Balance: $100,000 and above; $0.01 minimum to earn APY; APY is paid on entire balance in accounts
- Sep 24, 20263.50%▲ from 2.50%
- Sep 11, 20262.50%first recorded
Balance: $100,000 - $249,999; Tiered account
Balance: $5MM and over
- Oct 20, 20263.40%▲ from 3.25%
- Oct 14, 20263.25%first recorded
Balance: $250,000.00 - $499,999.99; Limited to three (3) debit transactions per quarterly statement cycle; personal Bank First checking with direct deposit required
Balance: up to $4,999.99; Daily Balances Of up to $4,999.99
Balance: $25,000 or more; Rate for new savings customers only; requires $25,000 within 30 days; Bay Area CA counties only
Balance: $5,000.00 to $2,000,000.99; Requires open Huntington Perks Checking account; Rates effective as of Monday, October 19, 2026
Balance: $5,000.00 to $2,000,000.99; Requires open Huntington Platinum Perks Checking account; Rates effective as of Monday, October 19, 2026
Balance: $25,000 +
APY as of 10-01-2025; no monthly fees or minimum balance requirements
Balance: $150,000.00 - $249,999.99; Limited to three (3) debit transactions per quarterly statement cycle; personal Bank First checking with direct deposit required
Balance: 0 - $75,000; Qualifications Required; 0.05% APY if qualifications not met; APYs accurate as of 09/01/2023
Qualifications Required; Balance: $0 - $75,000; Qualifying balance up to $75,000.00
Balance: $100,000 and above
Balance: $100,000-249,999.99
Balance: $0.01 to $250,000.00
Balance: Up to $1,000.00; Kids account; APY accurate as of 10/15/2026
Balance: $25,000 - $99,999.99
- Oct 20, 20262.90%▲ from 2.75%
- Sep 27, 20262.75%first recorded
Balance: $50,000.00 and over
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.
Arlington Heights, IL Savings Rate Trends
Compare local Arlington Heights, IL 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.
Illinois high-yield savings rates rose 0.063 points over the past 7 days to 2.065% APY, up from 2.002%.
Illinois standard savings rates fell 0.011 points over the past 7 days to 0.296% APY, down from 0.307%.
Arlington Heights, Illinois Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current IL 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 IL high-yield savings average of 2.065% 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 Arlington Heights, Illinois.
Savings Account Earnings in Arlington Heights, Illinois
Annual interest earnings at current IL average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (2.065% APY) | Monthly Earnings | Standard Savings (0.296% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $103.24 / year | $8.60 | $14.82 / year | $1.24 |
| $10,000 | $206.47 / year | $17.21 | $29.63 / year | $2.47 |
| $25,000 | $516.18 / year | $43.01 | $74.08 / year | $6.17 |
| $50,000 | $1,032.35 / year | $86.03 | $148.15 / year | $12.35 |
| 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: Arlington Heights, Illinois savings rate averages as of October 25, 2026. | ||||
About Our Arlington Heights, Illinois Savings Rate Database
MonitorBankRates found 7 institutions with branches in Arlington Heights (3 banks, 4 credit unions), plus 32 additional state-chartered and national online institutions available to Arlington Heights 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: Alero Financial Credit Union offers a savings account at 3.75% APY. Use the rate table above to compare all current offers in Arlington Heights, Illinois.
How to Find the Best Savings Rates in Arlington Heights, Illinois
What to compare when shopping for a savings account in Arlington Heights, Illinois
To find the best savings APYs in Arlington Heights, Illinois, start with credit unions and online-only banks: Arlington Heights, Illinois has 12 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 IL high-yield savings average is 2.065% but top local institutions are offering as high as 3.75%, 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. Arlington Heights, Illinois high-yield savings rates currently average 2.065% 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 Arlington Heights, Illinois institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 39 institutions in Arlington Heights, Illinois report savings rates to our database.
- You’re among Arlington Heights, Illinois’s 20.0% of residents aged 65+ for whom liquid, accessible savings complement fixed-income holdings.
- 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 Arlington Heights, Illinois CD rates
- You want check-writing flexibility Arlington Heights, Illinois money market rates
- You need daily transaction access Arlington Heights, Illinois checking rates
Arlington Heights, Illinois Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
20.0% of residents are 65 or older, above the national average of 17.3%, making liquid, accessible savings accounts a particularly relevant option in this market; a low unemployment rate of 3.5% reflects a strong local economy with solid savings capacity. At today’s IL high-yield savings average of 2.065%, saving 10% of the local median salary ($6,773/year) would earn an additional $140 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Arlington Heights, Illinois Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Arlington Heights, Illinois.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current IL Avg APY | 2.065% | 0.296% | 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 Arlington Heights, Illinois averages tracked in our database as of October 25, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Arlington Heights, Illinois
At IL’s top rate of 3.75% from Alero Financial Credit Union, a $10,000 deposit earns $375 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Arlington Heights, Illinois earner is roughly $16,900. At 2.065% APY, saving $1,410/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsIllinois’s high-yield savings average is 2.065% 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 Arlington Heights, Illinois earner makes $67,735/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 2.065% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.065% APY grows to roughly $37,623 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 Arlington Heights, Illinois 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 Arlington Heights, Illinois 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 Arlington Heights, Illinois. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in IL.
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 Arlington Heights, Illinois
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Arlington Heights, Illinois safe?
How often do savings rates change in Arlington Heights, Illinois?
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 Arlington Heights, Illinois?
How do I open a savings account in Arlington Heights, Illinois?
Best Savings Rates in Arlington Heights, Illinois
- Alero Financial Credit Union
Business Prosperity Savings: 3.75% APY - Metro Federal Credit Union Arlington Heights, IL
Kids Club Savings: 2.53% APY - Village Bank and Trust National Association
Statement Savings Advanced Special: 2.00% APY - Parkway Bank and Trust Company
Kasasa Saver Savings: 1.50% APY - Consumers Credit Union
Health Savings Account: 1.16% APY
Arlington Heights, Illinois Rates & Resources
