Mendota Heights, Minnesota Savings Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Mendota Heights, Minnesota savings account rates range from 0.05% to 6.00% APY, verified by MonitorBankRates as of October 12, 2026. The best savings rates for Mendota Heights, Minnesota and the surrounding area include Gateway Bank Mendota Heights, MNGateway Bank Mendota Heights, MN745 Market St, Mendota Heights, MN 55118A+5.0 ★Texas Ratio: 0.01%Real return: -0.02%APY minus 2.8% CPI (February 2026) Treasury Savings at 2.78% APY, Deerwood BankDeerwood Bank1060 Dakota Dr, Mendota Heights, MN 55120A+5.0 ★Texas Ratio: 4.01%Real return: -0.78%APY minus 2.8% CPI (February 2026) HEALTH SAVINGS ACCOUNT (HSA) at 2.02% APY, Expedition Credit UnionExpedition Credit Union1270 Northland Dr Ste 350, Mendota Heights, MN 55120 1156A+5.0 ★Texas Ratio: 1.78%Real return: -0.78%APY minus 2.8% CPI (February 2026) Money Market Savings at 2.02% APY, Genisys Credit UnionGenisys Credit UnionA+5.0 ★Texas Ratio: 5.37%Real return: +3.20%APY minus 2.8% CPI (February 2026) High Yield Youth Savings at 6.00% APY, and Mayo Employees Federal Credit UnionMayo Employees Federal Credit UnionA+5.0 ★Texas Ratio: 0.16%Real return: +2.70%APY minus 2.8% CPI (February 2026) Teen Savings at 5.50% APY.
Mendota Heights has 30 local institutions in our database, with savings rates as high as 2.78% APY from Gateway Bank Mendota Heights, MN at 745 Market St, Mendota Heights, MN 55118. Use the table below to compare all available offers, including options from institutions serving the broader Minnesota area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Mendota Heights, Minnesota and the surrounding area. Last Updated and Verified: October 12, 2026
Compare the Best Savings Rates in Mendota Heights, Minnesota & Surrounding Communities
Balance: $50,000 +
- Sep 24, 20262.78%▲ from 2.58%
- Sep 14, 20262.58%first recorded
Interest Compounded Monthly; No minimum balance. $25 closing fee if closed within 12 months
Balance: $100,000.00 and over
Balance: $50,000.00 - $99,999.99
Balance: $25,000.00 - $49,999.99
Balance: $10,000.00 - $24,999.99
Balance: $2,500.00 - $9,999.99
Interest Compounded Monthly; No minimum balance. $25 closing fee if closed within 12 months
Balance: $50,000 +
Balance: $49,999 - $25,000
Interest Compounded Monthly; No minimum balance. $25 closing fee if closed within 12 months
$49,999 - $25,000
Balance: $10,000 +
Interest Compounded Quarterly; $50 min bal to avoid service charge of $4 per month
$24,999 - $10,000
Balance: $24,999 - $10,000
Interest Compounded Monthly; No minimum balance. $25 closing fee if closed within 12 months
Interest Compounded Quarterly; $50 min bal to avoid service charge of $4 per month
$9,999 - $1,000
Interest Compounded Monthly; No minimum balance. $25 closing fee if closed within 12 months
$999 - $0
Balance: $9,999 - $2,500
Balance: $9,999 - $2,500
Balance: $2,499 - $1,000
Balance: $2,499 - $0
Balance: $25.00 - $2,499.99
High-Yield Youth Savings account is only for members from ages 0-21. No minimum balance. Balances above $2,500.00 are paid the standard share savings rate.
Balance: $100.00+; Youth Savings and Teen Savings Certificate minimum opening balance is $100. Additional deposits can be made up to $5,000 for the Youth Savings and $8,000 for the Teen Savings. The minimum additional deposit is $100. The Youth Savings matures on the child's 13th birthday. The Teen Savings matures on the teen's 18th birthday. Any withdrawal prior to maturity will result in a penalty of all dividends earned.
Balance: $0 - $5,000.00*
Balance: $0 - $5,000.00
- Sep 19, 20265.00%▲ from 0.04%
- Sep 14, 20260.04%first recorded
Rates as high as
- Oct 5, 20265.00%▲ from 4.40%
- Sep 14, 20264.40%first recorded
Method of Compounding: Monthly
Available Balance: Any Amount
- Sep 19, 20264.58%▲ from 4.32%
- Sep 14, 20264.32%first recorded
Balance: $100.00+; Youth Savings and Teen Savings Certificate minimum opening balance is $100. Additional deposits can be made up to $5,000 for the Youth Savings and $8,000 for the Teen Savings. The minimum additional deposit is $100. The Youth Savings matures on the child's 13th birthday. The Teen Savings matures on the teen's 18th birthday. Any withdrawal prior to maturity will result in a penalty of all dividends earned.
60 Month ($25,000 or more)*#~
48 Month ($25,000 or more)*#~
36 Month ($25,000 or more)*#~
24 Month ($25,000 or more)*#~
12 Month ($25,000 or more)*#~
Balance: $100,000 - $199,999.99
Minimum Balance to Obtain APY: $500**
Balance: $0.00 - $5,000.00
Balance: $0 - $1,000.00
Minimum Balance to Obtain APY: $500**
Minimum Balance to Obtain APY: $500**
Balance: 1,000,000 & Over
- Sep 19, 20264.00%▲ from 3.74%
- Sep 14, 20263.74%first recorded
Available Balance: 1,000,000 & Over
- Sep 19, 20264.00%▲ from 3.74%
- Sep 14, 20263.74%first recorded
Balance: $75,000 - $99,999.99
Method of Compounding: Daily; Balance: $25,000
Method of Compounding: Daily; Balance: $25,000
Balance: $50,000 - $74,999.99
Balance: $100,000 +
Balance: $100,000 - $250,000.00
- Oct 5, 20263.60%▲ from 3.50%
- Sep 14, 20263.50%first recorded
Balance: Over $200,000 balance
Balance: $1,000,000+
Balance: $75,000-$199,999 balance
Balance: $1,000,000.00 and higher
Balance: $750,000 - $999,999.99
Age: 0-12; Balance: $5-$500 balance
Balance: $100,000 and over
Balance: $25,000-99,000
Balance: $250,000 or more
Balance: $500,000 - $749,999.99
($25,000 minimum balance requirement to obtain APR/APY)
Balance: $500,000.00 - $999,999.99
Balance: $150,000 - $249,999
Balance: $250,000.00 - $499,999.99
Balance: $25,000 - $49,999.99
Balance: $1,000,000.00 +
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.
Mendota Heights, MN Savings Rate Trends
Compare local Mendota Heights, MN 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.
Minnesota high-yield savings rates fell 0.012 points over the past 7 days to 1.892% APY, down from 1.905%.
Minnesota standard savings rates rose 0.037 points over the past 7 days to 0.557% APY, up from 0.521%.
Mendota Heights, Minnesota Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current MN 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 MN high-yield savings average of 1.892% 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 Mendota Heights, Minnesota.
Savings Account Earnings in Mendota Heights, Minnesota
Annual interest earnings at current MN average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (1.892% APY) | Monthly Earnings | Standard Savings (0.557% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $94.62 / year | $7.89 | $27.87 / year | $2.32 |
| $10,000 | $189.23 / year | $15.77 | $55.73 / year | $4.64 |
| $25,000 | $473.08 / year | $39.42 | $139.33 / year | $11.61 |
| $50,000 | $946.15 / year | $78.85 | $278.65 / year | $23.22 |
| 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: Mendota Heights, Minnesota savings rate averages as of October 13, 2026. | ||||
About Our Mendota Heights, Minnesota Savings Rate Database
MonitorBankRates found 3 institutions with branches in Mendota Heights (2 banks, 1 credit union), plus 19 additional state-chartered and national online institutions available to Mendota 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: Gateway Bank Mendota Heights, MN offers a savings account at 2.78% APY with a minimum deposit of $10,000. Use the rate table above to compare all current offers in Mendota Heights, Minnesota.
How to Find the Best Savings Rates in Mendota Heights, Minnesota
What to compare when shopping for a savings account in Mendota Heights, Minnesota
To find the best savings APYs in Mendota Heights, Minnesota, start with credit unions and online-only banks: Mendota Heights, Minnesota has 13 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 MN high-yield savings average is 1.892% but top local institutions are offering as high as 2.78%, 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. Mendota Heights, Minnesota high-yield savings rates currently average 1.892% 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 Mendota Heights, Minnesota institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 22 institutions in Mendota Heights, Minnesota report savings rates to our database.
- You’re among Mendota Heights, Minnesota’s 26.3% 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 Mendota Heights, Minnesota CD rates
- You want check-writing flexibility Mendota Heights, Minnesota money market rates
- You need daily transaction access Mendota Heights, Minnesota checking rates
Mendota Heights, Minnesota Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
26.3% 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 1.4% reflects a strong local economy with solid savings capacity. At today’s MN high-yield savings average of 1.892%, saving 10% of the local median salary ($6,546/year) would earn an additional $124 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Mendota Heights, Minnesota Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Mendota Heights, Minnesota.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current MN Avg APY | 1.892% | 0.557% | 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 Mendota Heights, Minnesota averages tracked in our database as of October 13, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Mendota Heights, Minnesota
At MN’s top rate of 2.78% from Gateway Bank Mendota Heights, MN, a $10,000 deposit earns $278 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Mendota Heights, Minnesota earner is roughly $16,400. At 1.892% APY, saving $1,360/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsMinnesota’s high-yield savings average is 1.892% 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 Mendota Heights, Minnesota earner makes $65,460/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 1.892% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.892% APY grows to roughly $36,372 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 Mendota Heights, Minnesota 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 Mendota Heights, Minnesota 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 Mendota Heights, Minnesota. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in MN.
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 Mendota Heights, Minnesota
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Mendota Heights, Minnesota safe?
How often do savings rates change in Mendota Heights, Minnesota?
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 Mendota Heights, Minnesota?
How do I open a savings account in Mendota Heights, Minnesota?
Best Savings Rates in Mendota Heights, Minnesota
- Gateway Bank Mendota Heights, MN
Treasury Savings: 2.78% APY - Deerwood Bank
HEALTH SAVINGS ACCOUNT (HSA): 2.02% APY - Expedition Credit Union
Money Market Savings: 2.02% APY - Genisys Credit Union
High Yield Youth Savings: 6.00% APY - Mayo Employees Federal Credit Union
Teen Savings: 5.50% APY
Mendota Heights, Minnesota Rates & Resources
