Philadelphia, Pennsylvania Savings Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Philadelphia, Pennsylvania savings account rates range from 0.03% to 5.00% APY, verified by MonitorBankRates as of October 14, 2026. The best savings rates for Philadelphia, Pennsylvania and the surrounding area include Everence Federal Credit UnionEverence Federal Credit Union861 E Allegheny Ave, Philadelphia, PA 19134A+5.0 ★Texas Ratio: 4.82%Real return: +2.20%APY minus 2.8% CPI (February 2026) Youth savings at 5.00% APY, OpenbankOpenbank9200 Roosevelt Blvd, Philadelphia, PA 19115A5.0 ★Texas Ratio: 8.00%Real return: +1.35%APY minus 2.8% CPI (February 2026) High Yield Savings Boost at 4.15% APY, OceanFirst BankOceanFirst Bank1500 Market St, Philadelphia, PA 19102A+5.0 ★Texas Ratio: 5.26%Real return: +1.28%APY minus 2.8% CPI (February 2026) High Yield Savings+ at 4.08% APY, Pennsylvania State Employees Credit UnionPennsylvania State Employees Credit Union12901 Townsend Rd, Philadelphia, PA 19154 1021A+5.0 ★Texas Ratio: 4.23%Real return: +1.20%APY minus 2.8% CPI (February 2026) Youth Savings at 4.00% APY, and Self Reliance NY Federal Credit UnionSelf Reliance NY Federal Credit Union2307 Brown St, Philadelphia, PA 19130A+5.0 ★Texas Ratio: 2.44%Real return: +1.17%APY minus 2.8% CPI (February 2026) IRA Savings at 3.97% APY.
Philadelphia has 75 local institutions in our database, with savings rates as high as 5.00% APY from Everence Federal Credit Union at 861 E Allegheny Ave, Philadelphia, PA 19134. Use the table below to compare all available offers, including options from institutions serving the broader Pennsylvania area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Philadelphia, Pennsylvania and the surrounding area. Last Updated and Verified: October 14, 2026
Compare the Best Savings Rates in Philadelphia, Pennsylvania & Surrounding Communities
Balance: Up to $1,000; Youth savings account for kids under 18
Boosted APY = 3.80% standard variable APY + 0.35% 6-month APY Boost for new customers; boost expires after 6 months and reverts to standard variable APY; open by 11/03/26; limited-time offer, new Openbank customers only
Qualifications Required: 2 qualifying recurring electronic direct deposits must post to the new FreeStyle Checking account within 60 days of opening the High Yield Savings+ account; at least one must come from the following sources: salary, pension, Social Security or other regular monthly income deposited to your new FreeStyle Checking account by your employer or outside agency via ACH; Limited Time Offer. NEW CUSTOMER ONLY. NEW MONEY REQUIRED. All annual percentage yields (APYs) on interest bearing accounts subject to change at any time at our discretion and without notice. Offer only available to new deposit customers or CD-only customers or loan-only customers of the bank who open a new OceanFirst High Yield Savings+ account. New customer is defined as someone who has not had a checking or savings account with the bank within the last 12 months and must be opened with funds not currently on deposit at OceanFirst Bank. If the balance falls below $500.00 during the statement cycle, a $5 monthly balance fee will apply. $250,000 maximum funding per account. Additionally, eligibility for this offer requires that all the following conditions are met: a new FreeStyle Checking account (FreeStyle+ Checking excluded) must be opened and a minimum of two (2) qualifying recurring electronic direct deposits must post to the new FreeStyle Checking account within 60 days of opening the High Yield Savings+ account. Qualifying direct deposits must be a minimum of $5.00 and at least one must come from the following sources: salary, pension, Social Security or other regular monthly income deposited to your new FreeStyle Checking account by your employer or outside agency via ACH. OceanFirst Bank employee eligibility requires any new OceanFirst checking account and a minimum of two (2) qualifying recurring electronic direct deposits must post to the checking account within 60 days of opening the High Yield Savings+ account. If all offer requirements are not met, the account will default to earning the prevailing rate of the Statement Savings Account at that time. A $5.00 excess transaction fee will apply for each withdrawal or transfer over three (3) per statement cycle. A $5.00 paper statement fee may apply. Fees may reduce earnings. Business accounts and government accounts are not eligible.
Balance: $.01 to $500.00; Youth Savings Accounts earn a higher APY for balances of $.01 to $500.00
Standard variable APY; variable-rate account, subject to change at Openbank's discretion without notice; Personal accounts only
- Oct 6, 20263.80%▼ from 4.15%
- Sep 27, 20264.15%first recorded
3.50% on balances up to $100,000 when linked to a qualifying checking account
- Sep 22, 20263.50%▲ from 3.30%
- Sep 14, 20263.30%first recorded
- Sep 22, 20263.50%▲ from 3.30%
- Sep 14, 20263.30%first recorded
Balance: $10,000 or more; APY for balances $10,000 and greater; Maximum deposit amount $1,000,000; Limit one High Yield Savings Account per member; $10,000 minimum opening deposit; $10 monthly service fee waived if daily balance is $10,000 or more; three withdrawals per monthly statement cycle, $25 fee for each additional withdrawal
- Sep 18, 20263.20%▲ from 3.10%
- Sep 14, 20263.10%first recorded
- Oct 4, 20263.20%▲ from 3.14%
- Sep 14, 20263.14%first recorded
Balance: $10,000 and up
- Oct 9, 20263.19%▲ from 3.04%
- Sep 14, 20263.04%first recorded
Balance: $25,000.00 and higher
Balance: Up to $1,000; Earn higher dividends on the first $1,000 in the account
Balance: $10,000 & over
2.80% APY for balances of $0.01 - $4,999.99; 2.80% APY for balances of $5,000 or more.
Share/IRA Accounts; APY as high as
- Oct 5, 20262.02%▲ from 1.87%
- Sep 29, 20261.87%first recorded
See Details
Balance: $5,000 - $9,999.99
Balance: $100,000 - $249,999
Balance: $25,000 - $49,999
- Oct 12, 20261.00%▼ from 1.01%
- Oct 8, 20261.01%first recorded
Balances of $3,500 and over
MVP rate; Balance: $10,000.00 and above
- Oct 12, 20261.00%▲ from 0.60%
- Sep 12, 20260.60%first recorded
Balance: $0 - $500
Balances of less than $3,500
MVP rate; Balance: $5,000.00 - $9999.99
- Oct 12, 20260.75%▲ from 0.60%
- Sep 12, 20260.60%first recorded
Balance: $10,000.00 and above
Balance: $20,000.01 and above
Balance: $20,000.01 and above
Balance: $5,000.00 - $9999.99
Business Banking; (Share) Savings Accounts; APY as high as
Balance: $4,000 or more
Balance: $.01 - $24,999.99
Balance: $1,500.01 to $20,000.00
Balance: $1,500.01 to $20,000.00
Balance: $75,000+
Balance: $75,000 and up
Compounded & Credited: Monthly
Compounded & Credited: Monthly
Balance: $100.00 to $1,500.00
Balance: $100.00 to $1,500.00
Balance: $100.00 - $10,000.00
Balance: $25,000 - $74,999.99
Balance: $25,000 - $74,999.99
Balance: $250,000+
Balance: $14,999.01 +
Balance: $0.00 - $2,499.99; 6-month bonus rate; Offer Code VRMA0926; Apply online or contact KeyBank by 11/4/2026; Requires $5,000 balance growth; Bring at least $5,000 to Key
Balance: $0.00 - $2,499.99; 6-month bonus rate; Bring at least $25,000 to Key; Offer Code VRMB0926; Apply online with this code or contact us to apply to existing account by 11/4/2026; Rate may vary by booking location; Standard or relationship rates apply after bonus period
When linked to Premier Checking. Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.
- Oct 7, 20260.05%▲ from 0.01%
- Sep 27, 20260.01%▼ from 0.05%
- Sep 18, 20260.05%first recorded
Balance: $0+
Balance: $4,999.01 - $14,999
Balance: $50,000 - $249,999
Balance: $50,000- $249,999
Balance: $1,000 - $4,999
Balance: $0 - $24,999
Balance: $999.01 - $4,999
Balance: $0 - $9,999
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.
Philadelphia, PA Savings Rate Trends
Compare local Philadelphia, PA 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.
Pennsylvania high-yield savings rates fell 0.005 points over the past 7 days to 2.395% APY, down from 2.399%.
Pennsylvania standard savings rates rose 0.013 points over the past 7 days to 0.308% APY, up from 0.295%.
Philadelphia, Pennsylvania Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current PA 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 PA high-yield savings average of 2.395% 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 Philadelphia, Pennsylvania.
Savings Account Earnings in Philadelphia, Pennsylvania
Annual interest earnings at current PA average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (2.395% APY) | Monthly Earnings | Standard Savings (0.308% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $119.73 / year | $9.98 | $15.42 / year | $1.29 |
| $10,000 | $239.46 / year | $19.96 | $30.84 / year | $2.57 |
| $25,000 | $598.65 / year | $49.89 | $77.10 / year | $6.43 |
| $50,000 | $1,197.30 / year | $99.77 | $154.20 / year | $12.85 |
| 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: Philadelphia, Pennsylvania savings rate averages as of October 14, 2026. | ||||
About Our Philadelphia, Pennsylvania Savings Rate Database
MonitorBankRates found 29 institutions with branches in Philadelphia (13 banks, 16 credit unions). 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: Everence Federal Credit Union offers a savings account at 5.00% APY. Use the rate table above to compare all current offers in Philadelphia, Pennsylvania.
How to Find the Best Savings Rates in Philadelphia, Pennsylvania
What to compare when shopping for a savings account in Philadelphia, Pennsylvania
To find the best savings APYs in Philadelphia, Pennsylvania, start with credit unions and online-only banks: Philadelphia, Pennsylvania has 16 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 PA high-yield savings average is 2.395% but top local institutions are offering as high as 5.00%, 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. Philadelphia, Pennsylvania high-yield savings rates currently average 2.395% 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 Philadelphia, Pennsylvania institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 29 institutions in Philadelphia, Pennsylvania 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 Philadelphia, Pennsylvania CD rates
- You want check-writing flexibility Philadelphia, Pennsylvania money market rates
- You need daily transaction access Philadelphia, Pennsylvania checking rates
Philadelphia, Pennsylvania Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
14.7% of residents are 65 or older, below the national average of 17.3%; an unemployment rate of 8.1% (vs. 4.8% nationally) underscores the value of keeping liquid emergency savings. At today’s PA high-yield savings average of 2.395%, saving 10% of the local median salary ($4,247/year) would earn an additional $102 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Philadelphia, Pennsylvania Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Philadelphia, Pennsylvania.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current PA Avg APY | 2.395% | 0.308% | 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 Philadelphia, Pennsylvania averages tracked in our database as of October 14, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Philadelphia, Pennsylvania
At PA’s top rate of 5.00% from Everence Federal Credit Union, a $10,000 deposit earns $500 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Philadelphia, Pennsylvania earner is roughly $10,600. At 2.395% APY, saving $880/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsPennsylvania’s high-yield savings average is 2.395% 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 Philadelphia, Pennsylvania earner makes $42,478/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 2.395% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.395% APY grows to roughly $40,131 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 Philadelphia, Pennsylvania 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 Philadelphia, Pennsylvania 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 Philadelphia, Pennsylvania. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in PA.
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 Philadelphia, Pennsylvania
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Philadelphia, Pennsylvania safe?
How often do savings rates change in Philadelphia, Pennsylvania?
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 Philadelphia, Pennsylvania?
How do I open a savings account in Philadelphia, Pennsylvania?
Best Savings Rates in Philadelphia, Pennsylvania
- Everence Federal Credit Union
Youth savings: 5.00% APY - Openbank
High Yield Savings Boost: 4.15% APY - OceanFirst Bank
High Yield Savings+: 4.08% APY - Pennsylvania State Employees Credit Union
Youth Savings: 4.00% APY - Self Reliance NY Federal Credit Union
IRA Savings: 3.97% APY
Philadelphia, Pennsylvania Rates & Resources
