Redwood City, California Savings Rates - October 2026
Brian McKay
Brian McKay
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Redwood City, California savings account rates range from 0.01% to 5.00% APY, verified by MonitorBankRates as of October 14, 2026. The best savings rates for Redwood City, California and the surrounding area include Monterra Credit UnionMonterra Credit Union350 Convention Way, Redwood City, CA 94063A+5.0 ★Texas Ratio: 2.93%Real return: +1.20%APY minus 2.8% CPI (February 2026) Digital Savings at 4.00% APY, US BankUS Bank675 Jefferson Ave, Redwood City, CA 94063A+5.0 ★Texas Ratio: 2.85%Real return: +0.70%APY minus 2.8% CPI (February 2026) Bank Smartly Savings Account at 3.50% APY, Premier One Credit UnionPremier One Credit Union530 EL CAMINO REAL, REDWOOD CITY, CA 94063 1212A+5.0 ★Texas Ratio: 1.80%Real return: +0.70%APY minus 2.8% CPI (February 2026) Traditional IRA Share Account at 3.50% APY, Wells FargoWells Fargo2099 Broadway St, Redwood City, CA 94063A+5.0 ★Texas Ratio: 5.36%Real return: +0.45%APY minus 2.8% CPI (February 2026) Platinum Savings at 3.25% APY, and Upward Credit UnionUpward Credit Union510 Veterans Blvd Ste B, Redwood City, CA 94063A+5.0 ★Texas Ratio: 5.23%Real return: -1.54%APY minus 2.8% CPI (February 2026) Money Market Savings at 1.26% APY.
Redwood City has 44 local institutions in our database, with savings rates as high as 4.00% APY from Monterra Credit Union at 350 Convention Way, Redwood City, CA 94063. Use the table below to compare all available offers, including options from institutions serving the broader California area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Redwood City, California and the surrounding area. Last Updated and Verified: October 14, 2026
Compare the Best Savings Rates in Redwood City, California & Surrounding Communities
Balance: $0.01 - $4,999.99
Bonus APY paid when monthly requirements are met: 10+ card purchases, one direct deposit/payroll/external ACH credit, and eStatements selected, on a Monterra checking account (not Business Checking)
Earn up to 3.50% APY when you are an account owner of a U.S. Bank Smartly Checking, Safe Debit account, or U.S. Bank Smartly Visa Signature Card and a Combined Qualifying Balance (CQB) of at least $25,000; APYs may vary by location and are accurate for accounts opened on today's date; Monthly maintenance fee $5, waivable; Restrictions apply
Balance: $25,000.00 +; Minimum To Keep Open: $0.00; Contact Us Online; Traditional, Roth, and Educational IRA Share Accounts
Balance: $25,000 or more; Rates for New Savings Customers; Earn 3.25% APY as a new Wells Fargo savings customer; California Bay Area counties branches only
- Oct 14, 20263.25%▲ from 0.05%
- Oct 7, 20260.05%▲ from 0.01%
- Sep 14, 20260.01%first recorded
Balance: $5,000.00 - $9,999.99
Balance: $.01 - $30,000.00; Homeowner required; Minimum To Keep Open: $5.00
Balance: $0.00 - $24,999; Minimum To Keep Open: $0.00; Contact Us Online; Traditional, Roth, and Educational IRA Share Accounts
Balance: $0.01 - $24,000; Balance paid out on June 1; Minimum To Keep Open: $0.00
Balance: $0 - $8,750; Minimum To Keep Open: $0.00; Contact Us Online
Balance: $10,000.00 - $19,999.99
Balance: $2,500 - $9,999; Minimum Balance to Open Account - $0
Maturity Date Jun 1 or Nov 11; Minimum To Keep Open: $5.00
Qualifying balance up to $25,000.00
Balance: $20,000.00 and above
Balance: $8,750.01 and over; Minimum To Keep Open: $0.00; Contact Us Online
Balance: $100; Balance Tiers or Minimum Balance to Earn Dividends: $100
Last Updated: 02/01/2024
When linked to Premier Checking; Balance: $0 or more; California Bay Area counties branches only
Minimum: $1 (share pledge)/ $0 (secondary savings)
Minimum: $1 (share pledge)/ $0 (secondary savings)
Base APY paid when monthly requirements are not met
Minimum: $1 (share pledge) / $0 (secondary savings)
Balance: $100 to $999.99; Goals Account or Christmas Club
Balance: All balances in non-qualifying accounts
Balance: $100 to $999.99
Balance: $25
Minimum To Keep Open: $5.00
Minimum To Keep Open: $5.00
Minimum To Keep Open: $5.00
Minimum To Keep Open: $5.00
Current rate 0.03% APY; variable APY with floor rate 0.080% APY guaranteed through December 31 of the current year; no monthly fees; 100% of eligible transactions matched for first three months on first enrolled account, then 5% matched up to $250 per year; maximum deposit of $3,000 per month; maximum opening deposit $3,000
Published APY range: 0.03%-0.08%. Basic savings account; current rates between 0.03% APY - 0.08% APY depending on account balance
Published APY range: 0.03%-0.08%. Basic savings account for youth Provident members; current rates between 0.03% APY - 0.08% APY depending on account balance; free Visa debit card available
Balance: $50,000 (min)
When linked to Prime Checking; Balance: $0 or more; California Bay Area counties branches only
Balance: $0 or more; Standard Interest Rates; California Bay Area counties branches only
- Sep 27, 20260.01%▼ from 0.02%
- Sep 18, 20260.02%first recorded
Balance: $0 or more; Standard Interest Rate; California Bay Area counties branches only
Balance: $1.00 - $499.99
5.00% APY on savings; part of the Axos ONE bundle
As Low As; Earn up to 5.00% APY on savings for new customers' first 6 months; No monthly maintenance, balance, opening, or overdraft fees; Early payday: get paid up to 2 days early
- Oct 14, 20265.00%▲ from 4.21%
- Sep 30, 20264.21%first recorded
Balance: $0 - $500; No minimum to earn blended rate interest; No monthly service charge; Checking account required to open; Open Online
New account APY only; variable rate account, APY may change without notice; interest compounded daily; no monthly maintenance fee; no minimum balance required; available exclusively online and by phone
- Oct 7, 20264.20%▲ from 3.90%
- Sep 18, 20263.90%first recorded
Qualifications Required; LevelUp Rate applies when depositing $250+ per month (statement cycle); rate applied to full balance; Standard Rate of 3.00% APY otherwise
Earn LevelUp Rate on entire balance when you deposit $250+ per month; Standard Rate of 3.00% APY otherwise
- Sep 25, 20264.20%▲ from 4.00%
- Sep 14, 20264.00%first recorded
Promotional boosted rate; applies for up to 6 months after account opening; use promo code UFB75; offer ends 10/31/26; after the boost period, earns standard rate; FDIC insured up to $250K individual and $500K joint
- Oct 14, 20264.01%▲ from 3.26%
- Sep 24, 20263.26%first recorded
Promotional APY for up to 6 months; No minimum balance for APY; No monthly maintenance fees; No minimum initial deposit
All Balances; Interest compounded daily; Only $100 minimum to open; No monthly fee; Online account opening
Term: 12 months introductory promotion; New customer introductory promo; must be a new Valley National Bank customer; introductory rate is standard rate plus 0.67% for one year; online only
Available for children under 18; parent or legal guardian must be a joint account holder; $25 bonus deposited upon account opening; benefits continue after age 18; no monthly fees; promotional APY accurate as of October 1, 2026, rate may change after account is opened
- Oct 2, 20264.00%▲ from 3.75%
- Sep 18, 20263.75%first recorded
Balance: $.01 - $500.00
Promotional APY for first 180 days on balances greater than or equal to $10,000; balances at or below $9,999.99 earn the non-promotional rate; new personal savings clients only; Personal accounts only
- Oct 14, 20264.00%▲ from 3.75%
- Sep 14, 20263.75%first recorded
Digital product; Balance: $0 to obtain APY
Up to 3.91% APY on all balances for up to 6 months; limited-time promotional rate; open with a Basic Business Checking account; promo code BOOST41
Balance: $0.01 and over; No account fees; Individual or joint account; FDIC insured up to $250,000 per account owner
Balance: >= $5,000
- Oct 14, 20263.75%▲ from 0.25%
- Sep 24, 20260.25%first recorded
Monthly Service Fee: Free; Monthly Paper Statement Fee: Free
- Sep 27, 20263.44%▼ from 3.50%
- Sep 18, 20263.50%first recorded
Balance: All Balances; Interest compounded daily; Open online; $5 monthly fee if you receive paper statements
Balance: $50,000 and over; Online Only
Balance: $0-$9,999.99
RELATIONSHIP APY when eligibility requirements are met; Balance: $1 or more; Requires U.S. HSBC Premier relationship; Not available to business customers
Interest compounded daily, credited every 3 months; minimum contract amount $1,000; interest rates effective January 23, 2026; early withdrawal penalty of three months' interest
- Oct 3, 20262.90%▲ from 2.75%
- Sep 14, 20262.75%first recorded
Balance: $0.01 - $4,999.99; Variable APY, subject to change without notice
Online account opening required; Must be funded within 30 days of opening the account; $3.00 per in-branch deposit; $3.00 per in-branch withdrawal; $10.00 per paper statement request; Annual Percentage Yield (APY) is accurate as of 10/01/2026. Interest will be compounded and credited monthly. Rate for this account is variable, determined by the Bank of Guam at its sole discretion and can change before or after account opening. Fees could reduce earnings.
- Oct 3, 20262.79%▼ from 3.04%
- Sep 11, 20263.04%first recorded
Interest compounded daily, credited every 3 months; minimum contract amount $1,000; interest rates effective January 23, 2026; early withdrawal penalty of three months' interest
Balance: $250,000+
Balance: $50,000 +; Account with low opening balance & no monthly maintenance charge
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.
Redwood City, CA Savings Rate Trends
Compare local Redwood City, CA 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.
California high-yield savings rates rose 0.102 points over the past 7 days to 2.579% APY, up from 2.477%.
California standard savings rates rose 0.027 points over the past 7 days to 0.712% APY, up from 0.685%.
Redwood City, California Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current CA 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 CA high-yield savings average of 2.579% 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 Redwood City, California.
Savings Account Earnings in Redwood City, California
Annual interest earnings at current CA average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (2.579% APY) | Monthly Earnings | Standard Savings (0.712% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $128.93 / year | $10.74 | $35.62 / year | $2.97 |
| $10,000 | $257.86 / year | $21.49 | $71.24 / year | $5.94 |
| $25,000 | $644.65 / year | $53.72 | $178.10 / year | $14.84 |
| $50,000 | $1,289.30 / year | $107.44 | $356.20 / year | $29.68 |
| 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: Redwood City, California savings rate averages as of October 14, 2026. | ||||
About Our Redwood City, California Savings Rate Database
MonitorBankRates found 9 institutions with branches in Redwood City (3 banks, 6 credit unions), plus 21 additional state-chartered and national online institutions available to Redwood City 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: Monterra Credit Union offers a savings account at 4.00% APY with a minimum deposit of $0. Use the rate table above to compare all current offers in Redwood City, California.
How to Find the Best Savings Rates in Redwood City, California
What to compare when shopping for a savings account in Redwood City, California
To find the best savings APYs in Redwood City, California, start with credit unions and online-only banks: Redwood City, California has 6 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 CA high-yield savings average is 2.579% but top local institutions are offering as high as 4.00%, 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. Redwood City, California high-yield savings rates currently average 2.579% 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 Redwood City, California institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 30 institutions in Redwood City, California 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 Redwood City, California CD rates
- You want check-writing flexibility Redwood City, California money market rates
- You need daily transaction access Redwood City, California checking rates
California Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau (state-level data shown; city data not available)
15.7% of residents are 65 or older, below the national average of 17.3%; an unemployment rate of 6.6% (vs. 4.8% nationally) underscores the value of keeping liquid emergency savings. At today’s CA high-yield savings average of 2.579%, saving 10% of the local median salary ($4,903/year) would earn an additional $126 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Redwood City, California Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Redwood City, California.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current CA Avg APY | 2.579% | 0.712% | 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 Redwood City, California 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 Redwood City, California
At CA’s top rate of 4.00% from Monterra Credit Union, a $10,000 deposit earns $400 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Redwood City, California earner is roughly $12,300. At 2.579% APY, saving $1,020/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsCalifornia’s high-yield savings average is 2.579% 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 Redwood City, California earner makes $49,032/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 2.579% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.579% APY grows to roughly $41,598 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 Redwood City, California 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 Redwood City, California 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 Redwood City, California. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in CA.
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 Redwood City, California
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Redwood City, California safe?
How often do savings rates change in Redwood City, California?
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 Redwood City, California?
How do I open a savings account in Redwood City, California?
Best Savings Rates in Redwood City, California
- Monterra Credit Union
Digital Savings: 4.00% APY - US Bank
Bank Smartly Savings Account: 3.50% APY - Premier One Credit Union
Traditional IRA Share Account: 3.50% APY - Wells Fargo
Platinum Savings: 3.25% APY - Upward Credit Union
Money Market Savings: 1.26% APY
Redwood City, California Rates & Resources
