Minnesota (MN) Savings Rates - April 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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The best savings rates for Minnesota include Genisys Credit UnionGenisys Credit Union3300 Central Park Village Dr, Eagan, MN 55121 7707A+5.0 ★Texas Ratio: 5.03%Real return: +2.32%APY minus 2.8% CPI (February 2026) High Yield Youth Savings at 5.12% APY, West Metro Schools Credit UnionWest Metro Schools Credit Union1001 Highway 7, Hopkins, MN 55305A5.0 ★Texas Ratio: 7.84%Real return: +2.20%APY minus 2.8% CPI (February 2026) Holiday Savings at 5.00% APY, Grand Rapids SBGrand Rapids SB523 Nw 1st Ave, Grand Rapids, MN 55744A5.0 ★Texas Ratio: 9.12%Real return: +1.53%APY minus 2.8% CPI (February 2026) Education Savings at 4.33% APY, Ultima Bank MinnesotaUltima Bank Minnesota9 W Minnesota Ave, Winger, MN 56592A+5.0 ★Texas Ratio: 4.29%Real return: +1.52%APY minus 2.8% CPI (February 2026) SMART Savings at 4.32% APY, and Southpoint Financial Credit UnionSouthpoint Financial Credit Union920 Main St E, Sleepy Eye, MN 56085 4380A+5.0 ★Texas Ratio: 2.84%Real return: +1.27%APY minus 2.8% CPI (February 2026) EzMoney Savings+ at 4.07% APY.
Use the tables below to compare savings rates across Minnesota side-by-side. Minnesota savings rates currently reach as high as 5.12% APY from Genisys Credit Union at 3300 Central Park Village Dr, Eagan, MN 55121 7707. Rates are continually updated — we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Minnesota and the surrounding area. Last Updated and Verified: April 16, 2026
Compare the Best Savings Rates in Minnesota
Qualifying balance up to $500.00
max $300 deposit per month
Qualifying balance up to $5,000.00
Qualifying balance up to $5,000.00
Qualifying balance up to $1,000.00
Qualifying balance up to $1,000.00
Qualifying balance up to $1,000.00
Minimum of $5,000 not currently deposited at Huntington.
At the December board meeting, it was voted by the board to raise our dividend rate to 3.50%.
(Personal & Business)
Qualifying balance up to $199,999.00
View Rates
Qualifying balance up to $25,000.00
Qualifications Required: 50 minimum direct deposit per month; enroll in online banking; Intro rate expires: 24; Qualifying balance up to $10,000.00
Qualifications Required; Qualifying balance up to $10,000.00
Qualifying balance up to $500.00
Qualifying balance up to $500.00
Qualifying balance up to $2,000.00
(Personal)
Grow your money
Minimum of $5,000 not currently deposited at Huntington.
($25,000 minimum balance requirement to obtain APR/APY)
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.
Minnesota Savings Rate Trends
Compare local Minnesota 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.
Minnesota high-yield savings rates rose 0.009 points over the past 7 days to 2.580% APY, up from 2.571%.
Minnesota standard savings rates currently average 1.077% APY based on data from institutions in our monitoring network.
Minnesota Savings Rate Forecast — Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current MN 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 MN high-yield savings average of 2.580% 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: 1–2 Federal Reserve rate cuts of 25 basis points each over the next 12 months, based on current CME FedWatch consensus; savings institutions typically pass through 70–90% of rate cuts to deposit rates 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 Minnesota.
Savings Account Earnings in Minnesota
Annual interest earnings at current MN average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (2.580% APY) | Monthly Earnings | Standard Savings (1.077% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $129.01 / year | $10.75 | $53.87 / year | $4.49 |
| $10,000 | $258.02 / year | $21.50 | $107.73 / year | $8.98 |
| $25,000 | $645.05 / year | $53.75 | $269.33 / year | $22.44 |
| $50,000 | $1,290.10 / year | $107.51 | $538.65 / year | $44.89 |
| 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: Minnesota savings rate averages as of April 19, 2026. | ||||
About Our Minnesota Savings Rate Database
MonitorBankRates tracks savings rate offers from 16 banks and 13 credit unions offering savings accounts to Minnesota 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: Genisys Credit Union offers a savings account at 5.12% APY. Use the rate table above to compare all current offers in Minnesota.
How to Find the Best Savings Rates in Minnesota
What to compare when shopping for a savings account in Minnesota
To find the best savings APYs in Minnesota, start with credit unions and online-only banks — Minnesota has 13 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 MN high-yield savings average is 2.580% — 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. Minnesota high-yield savings rates currently average 2.580% 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 Minnesota institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 29 institutions in Minnesota 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 → Minnesota CD rates
- You want check-writing flexibility → Minnesota money market rates
- You need daily transaction access → Minnesota checking rates
Minnesota Financial Snapshot
Local demographics and economic context for savers — Source: U.S. Census Bureau
17.3% of residents are 65 or older, in line with the national average of 17.3%. At today’s MN high-yield savings average of 2.580%, saving 10% of the local median salary ($5,083/year) would earn an additional $131 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Minnesota Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Minnesota.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current MN Avg APY | 2.580% | 1.077% | 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 | Rate may fall with Fed cuts | Rate may fall with Fed cuts | Rate may fall with Fed cuts | 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 Minnesota averages tracked in our database as of April 19, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Minnesota
At MN’s top rate of 5.12% from Genisys Credit Union, 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 Minnesota earner is roughly $12,700. At 2.580% APY, saving $1,060/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsMinnesota’s high-yield savings average is 2.580% 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 Minnesota earner makes $50,838/year. Track your income vs. expenses to find your monthly surplus — then put it to work at 2.580% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.580% APY grows to roughly $41,611 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Minnesota 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 Minnesota. We feature a comprehensive mix of institutions — from neighborhood credit unions and competitive regional banks to large national institutions available to savers in MN.
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 Minnesota
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Minnesota safe?
How often do savings rates change in Minnesota?
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 Minnesota?
How do I open a savings account in Minnesota?
Best Savings Rates in Minnesota
- Genisys Credit Union
High Yield Youth Savings — 5.12% APY - West Metro Schools Credit Union
Holiday Savings — 5.00% APY - Grand Rapids SB
Education Savings — 4.33% APY - Ultima Bank Minnesota
SMART Savings — 4.32% APY - Southpoint Financial Credit Union
EzMoney Savings+ — 4.07% APY
Cities in Minnesota
