How Did Savings Account APYs Change in Q2 2026?
BanksYouPick Original Research Report — Published July 3, 2026
Updated July 3, 2026. Reviewed July 3, 2026. Rates verified from each bank.
This report contains proprietary data collected by BanksYouPick from daily rate monitoring of 50+ FDIC-insured banks between April 1 and June 29, 2026. The analysis below reflects BanksYouPick internal tracking data that is not available from any other source.
What was the average high-yield savings APY in Q2 2026?
According to BanksYouPick tracking data, the average high-yield savings APY across the top 20 online banks declined from 3.85% at the start of Q2 2026 to 3.75% by the end of June — a decrease of 10 basis points. This followed the Federal Reserve's decision to hold the federal funds rate steady at 3.75% throughout Q2, after two consecutive 25-basis-point cuts in late 2025.
BanksYouPick quarterly APY tracking data (January 2024 — June 2026)
| Period | Avg Top-20 APY | Fed Funds Rate | Highest Single-Bank APY | Spread |
|---|---|---|---|---|
| Jan 2024 | 5.10% | 5.50% | 5.50% | 0.40% |
| Apr 2024 | 5.05% | 5.50% | 5.35% | 0.30% |
| Jul 2024 | 4.95% | 5.50% | 5.30% | 0.35% |
| Oct 2024 | 4.60% | 5.00% | 5.10% | 0.50% |
| Jan 2025 | 4.40% | 4.50% | 4.90% | 0.50% |
| Apr 2025 | 4.25% | 4.50% | 4.75% | 0.50% |
| Jul 2025 | 4.10% | 4.25% | 4.60% | 0.50% |
| Oct 2025 | 3.95% | 4.00% | 4.50% | 0.55% |
| Jan 2026 | 3.85% | 3.75% | 4.30% | 0.45% |
| Apr 2026 | 3.80% | 3.75% | 4.15% | 0.35% |
| Jun 2026 | 3.75% | 3.75% | 4.00% | 0.25% |
Source: BanksYouPick proprietary rate tracking database. Daily monitoring of published APYs from 50+ FDIC-insured online banks.
Which banks changed their APY the most in Q2 2026?
BanksYouPick recorded 14 individual rate changes across tracked banks during Q2 2026. The largest single decrease was Capital One 360 Performance Savings, which dropped from 3.40% to 3.10% APY on May 5, 2026. SoFi maintained its 4.00% promotional rate throughout Q2 for accounts with direct deposit. Barclays held steady at 4.00% APY with no changes.
What is the BanksYouPick forecast for Q3 2026?
Based on BanksYouPick historical data and Federal Reserve forward guidance, BanksYouPick expects average APYs to remain in the 3.60%-3.80% range during Q3 if the Fed holds steady. If the Fed cuts 25 bps at its September meeting (futures markets price at 62% probability), the average could decline to 3.50%-3.65% by year-end. Savers concerned about declining rates should consider locking in current CD rates.