Cedar Rapids, Iowa (IA) Savings Rates - March 2026
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The savings rates displayed are actual, verified rates sourced directly from the official websites of banks and credit unions. Our editorial content is independent of any advertiser relationships.
The best savings rates for Cedar Rapids, Iowa and the surrounding area include First Federal Credit UnionFirst Federal Credit Union425 1st Ave SW, Cedar Rapids, IA 52405A5.0 ★Texas Ratio: 12.07% Kids First Savings at 5.00% APY, Cedar Rapids Bank and Trust CompanyCedar Rapids Bank and Trust Company191 Jacolyn Dr Nw, Cedar Rapids, IA 52405A+5.0 ★Texas Ratio: 3.72% A savings account designed for children 18 years of age and under at 4.00% APY, MidWestOne BankMidWestOne Bank3600 1st Avenue Ne, Cedar Rapids, IA 52402A+5.0 ★Texas Ratio: 4.78% Business High-Yield Savings at 3.60% APY, Dupaco Community Credit UnionDupaco Community Credit Union3131 Williams Blvd SW, Cedar Rapids, IA 52404A+5.0 ★Texas Ratio: 4.16% Launchpad Savings Account at 3.25% APY, and Farmers State Bank (Marion, IA)Farmers State Bank (Marion, IA)399 Edgewood Rd Nw, Cedar Rapids, IA 52405A+5.0 ★Texas Ratio: 0.00% Health Savings Account at 3.00% APY. Savings rates as of March 25, 2026 according to verified data from MonitorBankRates.
To see how these savings rates in Cedar Rapids, Iowa, and the surrounding area, compare, use our comprehensive tables below for side-by-side comparisons to find the best savings rates available. Rates in Cedar Rapids, Iowa (IA) are continually updated — we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Cedar Rapids, Iowa and the surrounding area. Last Updated and Verified: March 25, 2026
Compare the Best Savings Rates in Cedar Rapids, Iowa & Surrounding Communities
Source: Verified Savings Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
First Federal Credit Union
Institution Rating:
A5.0 ★Texas Ratio: 12.07%
425 1st Ave SW, Cedar Rapids, IA 52405
Kids First Savings
5.00%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 18, 2026
Details
Qualifying balance up to $500.00
Cedar Rapids Bank and Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 3.72%
191 Jacolyn Dr Nw, Cedar Rapids, IA 52405
A savings account designed for children 18 years of age and under
4.00%
$1
▼
Rate0.00%
Min Deposit$1
Min Balance—
UpdatedMar 25, 2026
Details
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High-Yield Savings
3.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Contact your local banker for more details!
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High Yield Savings
3.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High-Yield Savings
3.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Contact your local banker for more details!
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High Yield Savings
3.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High Yield Savings
3.35%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High Yield Savings
3.35%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Launchpad Savings Account
3.25%
$0
▼
Rate3.21%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Max Balance $1,000
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High Yield Savings
3.10%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High Yield Savings
3.10%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Health Savings Account
3.00%
$100
▼
Rate2.96%
Min Deposit$100
Min Balance—
UpdatedMar 21, 2026
Details
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Ultimate Savings Account
3.00%
$10,000
▼
Rate2.97%
Min Deposit$10,000
Min Balance—
UpdatedMar 21, 2026
Details
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High Yield Savings
2.85%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High Yield Savings
2.85%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High Yield Savings
2.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High Yield Savings
2.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Health Savings Account
2.50%
$100
▼
Rate2.47%
Min Deposit$100
Min Balance—
UpdatedMar 21, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
High-Yield Savings
2.45%
$50,000
▼
Rate2.42%
Min Deposit$50,000
Min Balance—
UpdatedMar 25, 2026
Details
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
Business High Yield Savings
2.35%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
3600 1st Avenue Ne, Cedar Rapids, IA 52402
High Yield Savings
2.35%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
Introductory APY
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Bright Savings Online-Only Savings Account
2.25%
$0
▼
Rate2.23%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Qualifications Required: eStatements enrollment; Online Only
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
High-Yield Savings
2.25%
$50,000
▼
Rate2.23%
Min Deposit$50,000
Min Balance—
UpdatedMar 25, 2026
Details
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Ultimate Savings Account
2.25%
$10,000
▼
Rate2.23%
Min Deposit$10,000
Min Balance—
UpdatedMar 21, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
High-Yield Savings
2.05%
$50,000
▼
Rate2.03%
Min Deposit$50,000
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
High-Yield Savings
1.85%
$50,000
▼
Rate1.83%
Min Deposit$50,000
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
High-Yield Savings
1.50%
$50,000
▼
Rate1.49%
Min Deposit$50,000
Min Balance—
UpdatedMar 25, 2026
Details
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Health Savings Account
1.50%
$100
▼
Rate1.49%
Min Deposit$100
Min Balance—
UpdatedMar 21, 2026
Details
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
IRA Share Savings and over
1.15%
$500
▼
Rate1.15%
Min Deposit$500
Min Balance—
UpdatedMar 17, 2026
Details
$30,000
Bankers Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 2.53%
201 1st St Se, Cedar Rapids, IA 52401
Regular Savings Platinum Tier
1.05%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Loyalty Program
Community 1st Credit Union Ottumwa, IA
Institution Rating:
B-4.3 ★Texas Ratio: 23.52%
1030 Sierra Dr NE, Cedar Rapids, IA 52402 6578
ClubGo Savings
1.00%
$0
▼
Rate1.00%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Ultimate Savings Account
1.00%
$10,000
▼
Rate1.00%
Min Deposit$10,000
Min Balance—
UpdatedMar 21, 2026
Details
Bankers Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 2.53%
201 1st St Se, Cedar Rapids, IA 52401
Regular Savings Gold Tier
0.95%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Loyalty Program
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
IRA Share Savings to $29,999.99
0.90%
$500
▼
Rate0.90%
Min Deposit$500
Min Balance—
UpdatedMar 17, 2026
Details
$10,000.00
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
IRA Share Savings to $9,999.99
0.65%
$500
▼
Rate0.65%
Min Deposit$500
Min Balance—
UpdatedMar 17, 2026
Details
$100
Bankers Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 2.53%
201 1st St Se, Cedar Rapids, IA 52401
Regular Savings Bronze Tier
0.55%
$0
▼
Rate0.55%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Loyalty Program
Bankers Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 2.53%
201 1st St Se, Cedar Rapids, IA 52401
Regular Savings
0.55%
$0
▼
Rate0.55%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Bankers Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 2.53%
201 1st St Se, Cedar Rapids, IA 52401
Regular Savings Silver Tier
0.55%
$0
▼
Rate0.55%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Loyalty Program
Cedar Rapids Bank and Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 3.72%
191 Jacolyn Dr Nw, Cedar Rapids, IA 52405
Health Savings Account
0.51%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Cedar Rapids Bank and Trust Company
Institution Rating:
A+5.0 ★Texas Ratio: 3.72%
191 Jacolyn Dr Nw, Cedar Rapids, IA 52405
First-Time Home Buyer Savings Account
0.50%
$100
▼
Rate0.00%
Min Deposit$100
Min Balance—
UpdatedMar 25, 2026
Details
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
Health Savings Account
0.50%
$100
▼
Rate0.50%
Min Deposit$100
Min Balance—
UpdatedMar 21, 2026
Details
Farmers State Bank (Marion, IA)
Institution Rating:
A+5.0 ★Texas Ratio: 0.00%
399 Edgewood Rd Nw, Cedar Rapids, IA 52405
FSBee Club Savings
0.40%
$5
▼
Rate0.40%
Min Deposit$5
Min Balance—
UpdatedMar 21, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Health Savings Accounts
0.35%
$25
▼
Rate0.35%
Min Deposit$25
Min Balance—
UpdatedMar 25, 2026
Details
Collins Community Credit Union
Institution Rating:
B-4.3 ★Texas Ratio: 23.97%
1005 Blairs Ferry Rd NE, Cedar Rapids, IA 52402 1292
Coverdell Education Savings Accounts
0.30%
$0
▼
Rate0.30%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Health Savings Accounts
0.30%
$25
▼
Rate0.30%
Min Deposit$25
Min Balance—
UpdatedMar 25, 2026
Details
Collins Community Credit Union
Institution Rating:
B-4.3 ★Texas Ratio: 23.97%
1005 Blairs Ferry Rd NE, Cedar Rapids, IA 52402 1292
Health Savings Account
0.25%
$0
▼
Rate0.25%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Health Savings Accounts
0.25%
$25
▼
Rate0.25%
Min Deposit$25
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
You Name It Savings
0.20%
$0
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Holiday Club Savings
0.20%
$0
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Share Savings
0.20%
$25
▼
Rate0.20%
Min Deposit$25
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Health Savings Accounts
0.20%
$25
▼
Rate0.20%
Min Deposit$25
Min Balance—
UpdatedMar 25, 2026
Details
Community 1st Credit Union Ottumwa, IA
Institution Rating:
B-4.3 ★Texas Ratio: 23.52%
1030 Sierra Dr NE, Cedar Rapids, IA 52402 6578
Primary Savings
0.15%
$0
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Community 1st Credit Union Ottumwa, IA
Institution Rating:
B-4.3 ★Texas Ratio: 23.52%
1030 Sierra Dr NE, Cedar Rapids, IA 52402 6578
Secondary Savings
0.15%
$0
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Collins Community Credit Union
Institution Rating:
B-4.3 ★Texas Ratio: 23.97%
1005 Blairs Ferry Rd NE, Cedar Rapids, IA 52402 1292
Coverdell Education Savings Accounts
0.15%
$0
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
Share Savings
0.15%
$25
▼
Rate0.15%
Min Deposit$25
Min Balance—
UpdatedMar 25, 2026
Details
Dupaco Community Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.16%
3131 Williams Blvd SW, Cedar Rapids, IA 52404
You Name It Savings
0.15%
$0
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
Christmas Club Share Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 17, 2026
Details
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
Health Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 17, 2026
Details
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
Share Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 17, 2026
Details
$100.00+
Metco Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.80%
115 8th Ave SW, Cedar Rapids, IA 52404
Youth Share Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 17, 2026
Details
ages 0-17
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The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice.
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.
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.
Cedar Rapids, IA Savings Rate Trends
Compare local Cedar Rapids, IA savings rate quotes against the statewide average
Weekly savings rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
High-Yield Savings — IA Avg
1.936%
▲ 0.599 from last week
Iowa high-yield savings rates rose 0.599 points this week to 1.936% APY, up from 1.337% last week.
Standard Savings — IA Avg
0.603%
▲ 0.233 from last week
Iowa standard savings rates rose 0.233 points this week to 0.603% APY, up from 0.371% last week.
As of Mar 26, 2026 •
Rate data sourced from 8,500+ monitored institutions
Powered by MonitorBankRates
Methodology & Data Sources
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Cedar Rapids, Iowa 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 Cedar Rapids, Iowa. We feature a comprehensive mix of institutions — from neighborhood credit unions and competitive regional banks to large national institutions available to savers in IA.
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 Cedar Rapids, Iowa
What is a High-Yield Savings Account (HYSA)?
A High-Yield Savings Account (HYSA) typically pays significantly higher interest than standard accounts at national brick-and-mortar banks. These accounts, often found at online banks or local credit unions in Iowa, help your money grow faster through a higher APY.
Are savings accounts in Cedar Rapids, Iowa safe?
Yes, as long as the institution is FDIC insured (for banks) or NCUA insured (for credit unions). This provides federal protection for your deposits in Iowa up to $250,000 per depositor, per institution.
How often do savings rates change in Cedar Rapids, Iowa?
Savings rates are variable and can change at any time based on market conditions and Federal Reserve decisions. We update our local Iowa rate tables daily to ensure you see the most current high-yield options.
Do I need a minimum deposit to open a savings account?
It depends on the bank. Many online high-yield savings accounts have no minimum deposit requirement, while some traditional banks in Cedar Rapids, Iowa may require $25–$100 to open an account.
What is the difference between a Savings Account and a Money Market Account?
Both pay interest and are federally insured. Money Market Accounts (MMAs) often come with check-writing privileges or a debit card, making them more flexible, whereas standard savings accounts typically do not.
Are online banks better than local banks in Cedar Rapids, Iowa?
Online banks often offer higher APYs because they have lower overhead costs. However, local banks in Cedar Rapids, Iowa offer in-person customer service, which some customers prefer.
How do I open a savings account in Cedar Rapids, Iowa?
You can open a savings account online or in-person. You will generally need a government-issued ID, your Social Security number, and an initial deposit to get started.
Best Savings Rates in Cedar Rapids, Iowa
Here are recent savings rates observed in Cedar Rapids, Iowa and the surrounding area:
- First Federal Credit Union
Kids First Savings — 5.00% APY - Cedar Rapids Bank and Trust Company
A savings account designed for children 18 years of age and under — 4.00% APY - MidWestOne Bank
Business High-Yield Savings — 3.60% APY - Dupaco Community Credit Union
Launchpad Savings Account — 3.25% APY - Farmers State Bank (Marion, IA)
Health Savings Account — 3.00% APY
Savings Rates reflect actual verified offers from banks and credit unions actively accepting deposits in Cedar Rapids, Iowa. Your final available rate may depend on deposit amount and daily market movements. Last Updated and Verified: March 25, 2026
