Illinois Savings Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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The best savings rates for Illinois include Fidelity Bank & Trust (IA)Fidelity Bank & Trust (IA)242 Wall St, East Dubuque, IL 61025A5.0 ★Texas Ratio: 12.05%Real return: +2.32%APY minus 2.8% CPI (February 2026) Snap $tack Savings at 5.12% APY, Together Credit UnionTogether Credit Union1153 Blue Spring Plz, Shiloh, IL 62269 7397A+5.0 ★Texas Ratio: 5.32%Real return: +2.20%APY minus 2.8% CPI (February 2026) Accelerate It Savings at 5.00% APY, Michigan State University Federal Credit UnionMichigan State University Federal Credit Union2500 N Halsted St, Chicago, IL 60614 6999A5.0 ★Texas Ratio: 9.07%Real return: +2.20%APY minus 2.8% CPI (February 2026) Savings Builder - Tier 1 at 5.00% APY, Vibrant Credit UnionVibrant Credit Union4400 16th St, Moline, IL 61265A5.0 ★Texas Ratio: 13.71%Real return: +1.60%APY minus 2.8% CPI (February 2026) Digital Advantage Savings at 4.40% APY, and State Farm Federal Credit UnionState Farm Federal Credit Union1 State Farm Plz, Bloomington, IL 61710 0001A+5.0 ★Texas Ratio: 0.11%Real return: +1.28%APY minus 2.8% CPI (February 2026) Share Savings at 4.08% APY.
Use the tables below to compare savings rates across Illinois side-by-side. Illinois savings rates currently reach as high as 5.12% APY from Fidelity Bank & Trust (IA) at 242 Wall St, East Dubuque, IL 61025. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Illinois and the surrounding area. Last Updated and Verified: September 21, 2026
Compare the Best Savings Rates in Illinois
Balance: $0 - $5,000.00*
Minimum Balance/Average Daily Balance: $5. For the Accelerate It Savings account, the dividend rate and annual percentage yield are subject to change without notice after account opening. APY dividend of 5.00% is earned on balances $100.00 to $5,000.99. Balances $5,001.00 and above will receive APY of 0.20%. One Accelerate It Savings per Social Security or Taxpayer Identification Number. For Accelerate It Savings accounts, you must have an open checking account located under the same membership number as the Accelerate It Savings account. If your checking account is closed for any reason, your Accelerate It Savings account will convert to a Regular Savings account. You must be 22 years or older to open an Accelerate It Savings account. Rate offers accurate as of 06/01/2025. APY is accurate as of the last dividend declaration date. Other rates and terms available. Fees may reduce earnings on the account. Membership eligibility required.
Balance: $0 - $999.99
Balance: $0 - $5,001
Balance: $1,000,000+
Introductory promo for new customers. The opening deposit also must be a new money deposit, which is defined as funds from an external funding source that are not presently on deposit in any other Valley account. Introductory Interest Rate is determined by adding 0.67% to the variable interest rate paid on the Valley Direct High Yield Savings account (the "Standard Interest Rate"). The Introductory Interest Rate, Standard Interest Rate and APY are variable and may change after the account is opened.
Balance: 0 to $50,000
Balance: $0 - $2,000
The APY for the Balance Tier $500.01 or more will range from 4.00% to 0.01% , depending on the balance in the account.
Balance: $5,002 - $14,999
Must meet average daily balance requirements ($5 increase over previous month's balance, excluding dividends) and eStatements at a valid email address to earn qualifying rate.
Balance: 60 Month
Balance: $0.01
Balance: $0.01
Balance: $0.01
Balance: 36 Month
Balance: 24 Month
Balance: 12 Month
Balance: $250,000 - $999,999
Published APY range: 3.62% to 5.00%. Balance: $1,000 - $1,999.99
Featured Rate
Balance: $100,000 - $249,999
Balance: $250,000.00 - $499,999.99
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Balance: $5MM and over
Balance: $5,000.00 to $2,000,000.99; With Huntington Perks Checking**
Balance: $2,000.01 - above
APY*
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Valid Thru: 09/20/2026
Balance: $5 - $1,000
Balance: $5,000.00 to $2,000,000.99
Balance: $200,001 and above
Balance: $150,000.00 - $249,999.99
Balance: 0 - $75,000
Balance Tiers: $100,000 and above
Balance: $50,000.00 and Over
Balance: $25,000 - $99,999.99
Balance Tiers $0 - $49,999.99 | 2.20% APY $50,000 + | 2.70% APY
The APY for the Balance Tier $1,000.01 or more will range from 2.60% APY to 0.20% , depending on the balance in the account.
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.
Illinois Savings Rate Trends
Compare local Illinois 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.
Illinois high-yield savings rates rose 0.110 points over the past 7 days to 1.968% APY, up from 1.858%.
Illinois standard savings rates rose 0.013 points over the past 7 days to 0.814% APY, up from 0.801%.
Illinois Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current IL high-yield average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
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 IL high-yield savings average of 1.968% 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 60–90 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 Illinois.
Savings Account Earnings in Illinois
Annual interest earnings at current IL average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (1.968% APY) | Monthly Earnings | Standard Savings (0.814% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $98.41 / year | $8.20 | $40.68 / year | $3.39 |
| $10,000 | $196.82 / year | $16.40 | $81.36 / year | $6.78 |
| $25,000 | $492.05 / year | $41.00 | $203.40 / year | $16.95 |
| $50,000 | $984.10 / year | $82.01 | $406.80 / year | $33.90 |
| 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: Illinois savings rate averages as of September 22, 2026. | ||||
About Our Illinois Savings Rate Database
MonitorBankRates tracks 586 savings rates from 15 banks and 11 credit unions offering savings accounts to Illinois residents, including community institutions, regional banks, and national online options. 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 (1–5), 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: Fidelity Bank & Trust (IA) offers a savings account at 5.12% APY with a minimum deposit of $50. Use the rate table above to compare all current offers in Illinois.
How to Find the Best Savings Rates in Illinois
What to compare when shopping for a savings account in Illinois
To find the best savings APYs in Illinois, start with credit unions and online-only banks: Illinois has 11 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 IL high-yield savings average is 1.968% but top local institutions are offering as high as 5.12%, 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 3–6 months of expenses in a liquid, FDIC-insured account. Illinois high-yield savings rates currently average 1.968% APY, far above a typical checking account.
- Short-term savings goals (6–24 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 Illinois institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 26 institutions in Illinois 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 → Illinois CD rates
- You want check-writing flexibility → Illinois money market rates
- You need daily transaction access → Illinois checking rates
Illinois Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
17.0% of residents are 65 or older, in line with the national average of 17.3%. At today’s IL high-yield savings average of 1.968%, saving 10% of the local median salary ($4,839/year) would earn an additional $95 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Illinois Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Illinois.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current IL Avg APY | 1.968% | 0.814% | 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 – $100 | $25 – $100 | $0 – $2,500 | $500 – $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 Illinois averages tracked in our database as of September 22, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Illinois
At IL’s top rate of 5.12% from Fidelity Bank & Trust (IA), a $10,000 deposit earns $512 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Illinois earner is roughly $12,100. At 1.968% APY, saving $1,010/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsIllinois’s high-yield savings average is 1.968% 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 Illinois earner makes $48,393/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 1.968% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.968% APY grows to roughly $36,918 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 Illinois 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 Illinois 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 Illinois. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in IL.
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 Illinois
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Illinois safe?
How often do savings rates change in Illinois?
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 Illinois?
How do I open a savings account in Illinois?
Best Savings Rates in Illinois
- Fidelity Bank & Trust (IA)
Snap $tack Savings: 5.12% APY - Together Credit Union
Accelerate It Savings: 5.00% APY - Michigan State University Federal Credit Union
Savings Builder - Tier 1: 5.00% APY - Vibrant Credit Union
Digital Advantage Savings: 4.40% APY - State Farm Federal Credit Union
Share Savings: 4.08% APY
Cities in Illinois
