How have high-yield savings APYs changed from 2024 to 2026?
Updated August 24, 2026 · every figure carries the source it was read from and the date it was read
| Month | Average of tracked accounts | Fed funds rate | Highest tracked | 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% |
Federal funds rate figures come from the Federal Reserve. Savings figures are compiled by BanksYouPick from published rate updates across the accounts it tracks.
What the series shows
Between Jan 2024 and Jun 2026, the federal funds rate moved -175 bps and the highest tracked savings APY moved -150 bps. Deposit rates follow the Fed but not instantly and not one-for-one: banks tend to pass cuts on faster than increases, because a cut protects margin and an increase costs it.
Why the spread between the best and the average matters
The gap between the highest tracked account and the average of the tracked accounts is the value of shopping around. When that gap narrows, moving your money buys you less; when it widens, staying put costs you more. It is a more useful number to watch than the headline rate on its own, because it tells you whether the effort of switching is currently worth anything.
What would make this dataset stronger
Honestly: a wider panel and a published observation log. BanksYouPick currently tracks 9 institutions, which is enough to show a direction but not enough to describe the whole U.S. market. Until that panel is wider and every observation is dated and retained, this page describes a trend rather than measuring one, and it is labelled that way on purpose.