Banks that raised or cut savings rates in the last 60 days
Last 60 days · checked
Raised
- SoFi High-Yield Savings, a promotional rate · also raised Sep 24, 2026 raised to 4.40% from 4.20%
- Ally Bank Online Savings · also raised Sep 28, 2026 raised to 3.20% from 3.10%
- American Express High Yield Savings · also raised Sep 24, 2026 raised to 3.20% from 3.10%
- Axos Bank ONE® Savings, a promotional rate · Summit Savings also raised raised to 5.00% from 4.21%
- EverBank Performance Savings raised to 4.20% from 3.90%
Also raised: Marcus by Goldman Sachs
Every other bank Arca checks had no recorded change in the last 60 days. Find your bank below
Bank by bank: has your bank changed its savings rate?
Raised in the last 60 days
Has SoFi raised its savings rate?
Yes. SoFi High-Yield Savings rose from 4.20% to 4.40% APY in Arca Savings' October 26, 2026 weekly check, a promotional rate that falls to 3.30% after December 31, 2027. The 4.40% rate on SoFi High-Yield Savings requires a linked checking account and direct deposit or qualifying deposits. The SoFi High-Yield Savings rate is for new customers only. SoFi High-Yield Savings also rose from 4.00% to 4.20% in Arca Savings' September 24, 2026 weekly check.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
SoFi High-Yield Savings Account SoFi · Member FDIC | 4.40% APY | $440 a year on a $10,000 balance · Requirements: Linked checking · Direct deposit · New accounts only · 3.30% after Dec 31, 2027 | Visit site |
See details for SoFi High-Yield Savings AccountSoFi High-Yield Savings Account pays up to 4.40% APY as of November 9, 2026, for new accounts, and requires a linked checking account and direct deposit or qualifying deposits. Earn 4.40% APY now, dropping to 3.30% APY when the intro period ends on December 31, 2027.
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Has Ally Bank raised its savings rate?
Yes. Ally Bank Online Savings rose from 3.10% to 3.20% APY in Arca Savings' October 26, 2026 weekly check. Ally Bank Online Savings also rose from 3.00% to 3.10% in Arca Savings' September 28, 2026 weekly check.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
Ally Bank Online Savings Account Ally Bank · Member FDIC | 3.20% APY | $320 a year on a $10,000 balance · Full rate, no requirements | Visit site |
See details for Ally Bank Online Savings AccountAlly Bank Online Savings Account pays 3.20% APY as of November 9, 2026 with no minimum balance, no direct deposit required, and no linked checking account required.
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Has American Express raised its savings rate?
Yes. American Express High Yield Savings rose from 3.10% to 3.20% APY in Arca Savings' October 19, 2026 weekly check. American Express High Yield Savings also rose from 3.00% to 3.10% in Arca Savings' September 24, 2026 weekly check.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
American Express High Yield Savings Account American Express · Member FDIC | 3.20% APY | $320 a year on a $10,000 balance · Full rate, no requirements | Visit site |
See details for American Express High Yield Savings AccountAmerican Express High Yield Savings Account pays 3.20% APY as of November 9, 2026 with no minimum balance, no direct deposit required, and no linked checking account required.
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Has Axos Bank raised its savings rates?
Yes. Axos ONE® Savings rose from 4.21% to 5.00% APY in Arca Savings' October 5, 2026 weekly check, a promotional rate. The 5.00% rate on Axos ONE® Savings requires a linked checking account and direct deposit or qualifying deposits, plus other qualifying requirements. Axos Summit Savings rose from 3.75% to 4.01% APY in Arca Savings' October 5, 2026 weekly check, a promotional rate. The 4.01% rate on Axos Summit Savings requires qualifying requirements. The Axos Summit Savings rate is for new customers only.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
Axos ONE® Savings Axos Bank · Member FDIC | 5.00% APY | $500 a year on a $10,000 balance · Requirements: Linked checking · Direct deposit · +2 more · 1.00% after the intro period | Visit site |
See details for Axos ONE® SavingsAxos ONE® Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account and direct deposit or qualifying deposits. Earn 5.00% APY now, dropping to 1.00% APY once the intro period ends.
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Axos Summit Savings Axos Bank · Member FDIC | 4.01% APY | $401 a year on a $10,000 balance · Requirements apply — see details · New accounts only · 3.75% after the intro period | Visit site |
See details for Axos Summit SavingsAxos Summit Savings pays up to 4.01% APY as of November 9, 2026, for new accounts. The qualifying conditions are listed below. Earn 4.01% APY now, dropping to 3.75% APY once the intro period ends.
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Has EverBank raised its savings rate?
Yes. EverBank Performance Savings rose from 3.90% to 4.20% APY in Arca Savings' October 5, 2026 weekly check. The EverBank Performance Savings rate is for new customers only.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
EverBank Performance Savings EverBank · Member FDIC | 4.20% APY | $420 a year on a $10,000 balance · Full rate, no requirements · New accounts only | Visit site |
See details for EverBank Performance SavingsEverBank Performance Savings pays 4.20% APY as of November 9, 2026, for new accounts, with no minimum balance, no direct deposit required, and no linked checking account required.
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Has Marcus by Goldman Sachs raised its savings rate?
Yes. Marcus Online Savings rose from 3.40% to 3.50% APY in Arca Savings' September 21, 2026 weekly check.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
Marcus Online Savings Account Marcus (Goldman Sachs) · Member FDIC | 3.50% APY | $350 a year on a $10,000 balance · Full rate, no requirements | Visit site |
See details for Marcus Online Savings AccountMarcus Online Savings Account pays 3.50% APY as of November 9, 2026 with no minimum balance, no direct deposit required, and no linked checking account required.
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No recorded change in the last 60 days
None of these banks changed its savings rate after the Federal Reserve's September 16, 2026 hike.
Bank of America · Chase · CIT Bank · Leader Bank · M&T Bank · TD Bank · Truist · U.S. Bank · Wells Fargo
Has Chase changed its savings rate?
No change in the last 60 days. Chase standard savings pays 0.01% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $1 a year at that rate.
Has Bank of America changed its savings rate?
No change in the last 60 days. Bank of America standard savings pays 0.04% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $4 a year at that rate.
Has Wells Fargo changed its savings rate?
No change in the last 60 days. Wells Fargo standard savings pays 0.01% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $1 a year at that rate.
Has U.S. Bank changed its savings rate?
No change in the last 60 days. U.S. Bank standard savings pays 0.05% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $5 a year at that rate.
Has Truist changed its savings rate?
No change in the last 60 days. Truist standard savings pays 0.01% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $1 a year at that rate.
Has TD Bank changed its savings rate?
No change in the last 60 days. TD Bank standard savings pays 0.02% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $2 a year at that rate.
Has M&T Bank changed its savings rate?
No change in the last 60 days. M&T Bank standard savings pays 0.01% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. A $10,000 balance earns $1 a year at that rate.
Has CIT Bank changed its savings rate?
No change in the last 60 days. CIT Platinum Savings pays 3.75% APY in Arca Savings' November 9, 2026 weekly check, unchanged over the last 60 days. The 3.75% rate on CIT Platinum Savings requires a minimum balance.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
CIT Platinum Savings CIT Bank · Member FDIC | 3.75% APY | $375 a year on a $10,000 balance · Requirements: Min balance · 0.25% below the minimum balance | Visit site |
See details for CIT Platinum SavingsCIT Platinum Savings pays up to 3.75% APY as of November 9, 2026, and requires a minimum balance.
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Has Leader Bank changed its savings rate?
No change since Arca Savings started checking it on September 30, 2026. Zeugma Plus High Yield Savings pays 5.00% APY in Arca Savings' November 9, 2026 weekly check, a promotional rate. The 5.00% rate on Zeugma Plus High Yield Savings requires a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit, plus other qualifying requirements.
| Account | Max APY ↓ | Interest and requirements | Bank site |
|---|---|---|---|
Zeugma Plus High Yield Savings Leader Bank · Member FDIC | 5.00% APY | $500 a year on a $10,000 balance · Requirements: Linked checking · Direct deposit · +4 more · 2.50% without requirements | Visit site |
See details for Zeugma Plus High Yield SavingsZeugma Plus High Yield Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit. Earn 5.00% APY as a promotional rate through December 31, 2026; after that the rate may change.
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Yearly interest on a $10,000 balance at today’s APY (annual percentage yield), rounded to the dollar. Each bank provides its own FDIC (Federal Deposit Insurance Corporation) insurance; Arca is not a bank.
Which savings rates changed in the last 60 days?
In the last 60 days of Arca Savings' weekly checks, seven accounts first showed higher savings rates and none showed a cut: SoFi High-Yield Savings with a linked checking account and direct deposit or qualifying deposits (4.00% to 4.40% APY), Ally Bank Online Savings (3.00% to 3.20%), American Express High Yield Savings (3.00% to 3.20%), Axos ONE® Savings with a linked checking account and direct deposit or qualifying deposits, plus other qualifying requirements (4.21% to 5.00%), EverBank Performance Savings with qualifying requirements (3.90% to 4.20%), Axos Summit Savings with qualifying requirements (3.75% to 4.01%) and Marcus Online Savings (3.40% to 3.50%). Standard savings at Chase, Bank of America and Wells Fargo is unchanged in the last 60 days.
| Account | From | To | Changepercentage points | First seen |
|---|---|---|---|---|
| Group: Between the Fed's Sep 16 increase and Oct 28 hold | ||||
| SoFi High-Yield Savings Accounta linked checking account and direct deposit or qualifying deposits | 4.20% | 4.40% | +0.20 percentage points | |
| Ally Bank Online Savings Account | 3.10% | 3.20% | +0.10 percentage points | |
| American Express High Yield Savings Account | 3.10% | 3.20% | +0.10 percentage points | |
| Axos ONE® Savingsa linked checking account and direct deposit or qualifying deposits, plus other qualifying requirements | 4.21% | 5.00% | +0.79 percentage points | |
| EverBank Performance Savingsqualifying requirements | 3.90% | 4.20% | +0.30 percentage points | |
| Axos Summit Savingsqualifying requirements | 3.75% | 4.01% | +0.26 percentage points | |
| Ally Bank Online Savings Account | 3.00% | 3.10% | +0.10 percentage points | |
| SoFi High-Yield Savings Accountdirect deposit or qualifying deposits and a linked checking account, plus other qualifying requirements | 4.00% | 4.20% | +0.20 percentage points | |
| American Express High Yield Savings Account | 3.00% | 3.10% | +0.10 percentage points | |
| Marcus Online Savings Account | 3.40% | 3.50% | +0.10 percentage points | |
“First seen” is the weekly check where the new rate first appeared; the bank may have changed it any day after the previous check. A promotional rate that ends on its published end date is marked “offer ended”; Arca does not count it as a cut. Source: each bank’s public rate page, checked weekly by Arca Savings. | ||||
Earlier changes: which banks trimmed savings rates in July 2026, the dated analysis this page replaced.
Why do savings rates move before and after the Fed?
Online savings rates are variable by design. Banks price deposits against what funding is expected to cost over the coming months, not against the latest Fed announcement, so changes tend to cluster in the weeks before and after a decision rather than on the day itself.
Three standard mechanics drive most moves. Banks rarely state a reason, so these are explanations, not attributions:
- Funding needs. Online banks pay competitive rates to raise the deposits their lending requires. When they need more, the rate goes up; when they need less, it can drift down.
- The competitive field. Banks price against each other the same way savers compare them. Once a few move, the rest tend to reprice to hold their position.
- Expectations about policy. A bank that expects the Fed to raise rates may move early to attract deposits; one that expects cuts may trim gradually.
Standard savings at the largest branch banks is priced differently: as of November 9, 2026, standard savings at the big banks Arca checks pays as little as 0.01% APY.
What is a 0.10-point raise worth?
A 0.10-point raise adds $10 a year on a $10,000 balance, because one basis point (0.01 percentage point) is worth $1 a year for every $10,000 saved. On a $25,000 balance the same raise adds $25, and a 0.25-point raise adds $62.50.
The gap between account types is usually larger than any single raise. As of November 9, 2026, a $10,000 savings balance earns $1 a year at Chase's 0.01% APY and $420 at EverBank's 4.20% APY, a difference of $419 a year.
How can you tell whether a raise applies to your account?
- Check what your account pays today on the bank's own rate page, not the rate advertised when you opened it.
- Check whether it is a standard rate or a promotional one. A promotional rate has an end date; each account's details above show it, and the rate it falls to when the bank publishes one.
- Check what the requirements ask of you. A higher rate that requires direct deposit only pays more if a paycheck can move there.
The Arca Savings Index
Bank rates as of
As of November 9, 2026, the top high-yield savings accounts pay up to 5.00% APY, or 4.20% with no requirements for new accounts. The biggest banks pay 0.01%–0.04%, and the FDIC national average is 0.37%. At 4.20%, $10,000 in savings earns about $420 a year; at the biggest banks, $1 to $4.
- Top high-yield savings with requirements*
- 5.00%
- Top high-yield savings no requirements
- 4.20%
- FDIC national average Sep 2026 (FDIC source)
- 0.37%
- Biggest banks standard savings
- 0.01% to 0.04%
*Requirements such as direct deposit or a linked checking account. The no-requirements rate is for new accounts. Top rates include promotional rates, which can expire. Biggest banks: Chase, Bank of America, Wells Fargo. How the Index is built
Frequently asked questions
How often do online banks change savings rates?
High-yield savings rates have no set schedule. They're variable, so a bank can change its rate in any week. Between September 10 and November 9, 2026, Arca Savings recorded 10 rate changes. Ally Bank, American Express and Axos Bank each changed their rates twice. Federal Reserve decisions set the general direction for savings rates, but banks don't move in lockstep with them. Each bank decides when to change its rate and by how much, mostly based on how much it wants new deposits and what other banks pay. When the Federal Reserve raised rates on September 16, 2026, Marcus by Goldman Sachs, SoFi and American Express raised theirs about one week after. Chase, Bank of America and Wells Fargo kept their standard savings rates the same. So the rate you opened your account with may not be the rate you earn today. Arca Savings checks each bank's published rate every week. See which banks changed their rates. Source: Arca Savings, updated November 9, 2026.
How fast did banks raise savings rates after the Fed's September 2026 hike?
After the Federal Reserve's September 16, 2026 hike, Arca Savings' weekly checks first showed a higher savings rate at banks including Marcus by Goldman Sachs on September 21, 2026 and Axos Bank and EverBank on October 5. Source: Arca Savings, updated November 9, 2026.
Did any bank cut its savings rate after the Fed's September 2026 hike?
No. As of November 9, 2026, Arca Savings' weekly rate checks recorded no savings rate cut at any bank on this page since the Federal Reserve's September 16, 2026 hike. Source: Arca Savings, updated November 9, 2026.
Do existing customers get a bank's new savings rate?
Arca Savings records the rate each bank publishes, not what existing accounts earn. As of November 9, 2026, four published rates are promotional rates, which can end on a set date, including Zeugma Plus High Yield Savings (5.00% APY with a linked checking account and other requirements), Axos ONE® Savings (5.00% APY with a linked checking account and other requirements) and SoFi High-Yield Savings (4.40% APY with a linked checking account and other requirements). The published rates for SoFi High-Yield Savings, EverBank Performance Savings and Axos Summit Savings are for new accounts only. Source: Arca Savings, updated November 9, 2026.
Rates are sourced from each bank's public rate page, captured weekly, and recorded in the Arca rate table. APYs are variable and can change at any time.
Arca may earn a commission from financial institutions when a reader opens an account through our links. This doesn't affect the accounts we surface or the information in this article. See current rates at arcasavings.com/rates.