Minneapolis, Minnesota Savings Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Minneapolis, Minnesota savings account rates range from 0.01% to 6.00% APY, verified by MonitorBankRates as of October 13, 2026. The best savings rates for Minneapolis, Minnesota and the surrounding area include MidCountry BankMidCountry Bank7825 Washington Ave S, Minneapolis, MN 55439A+5.0 ★Texas Ratio: 4.01%Real return: +2.20%APY minus 2.8% CPI (February 2026) SmartStart Savings4Me at 5.00% APY, Bell BankBell Bank40 S 7th St, Minneapolis, MN 55402A+5.0 ★Texas Ratio: 3.66%Real return: +0.76%APY minus 2.8% CPI (February 2026) IRA Variable Rate Savings at 3.56% APY, US BankUS Bank718 Washington Ave Se, Minneapolis, MN 55414A+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, Luminate BankLuminate Bank2523 South Wayzata Boulevard, Minneapolis, MN 55405A5.0 ★Texas Ratio: 11.06%Real return: +0.70%APY minus 2.8% CPI (February 2026) Luminate Radiant Savings at 3.50% APY, and The Huntington National BankThe Huntington National Bank3899 Silver Lake Rd Ne, Minneapolis, MN 55421A+5.0 ★Texas Ratio: 3.66%Real return: +0.45%APY minus 2.8% CPI (February 2026) Relationship Savings Account - With Huntington Perks Checking at 3.25% APY.
Minneapolis has 60 local institutions in our database, with savings rates as high as 5.00% APY from MidCountry Bank at 7825 Washington Ave S, Minneapolis, MN 55439. Use the table below to compare all available offers, including options from institutions serving the broader Minnesota area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Minneapolis, Minnesota and the surrounding area. Last Updated and Verified: October 13, 2026
Compare the Best Savings Rates in Minneapolis, Minnesota & Surrounding Communities
Balance: $0 - $5,000.00
- Sep 19, 20265.00%▲ from 0.04%
- Sep 14, 20260.04%first recorded
Balance: $1,000,000 and over
Balance: $1,000,000 and over
Earn up to 3.50% APY when you are an account owner of a Bank Smartly Checking, Safe Debit account, or Bank SmartlyTM Visa Signature Card and a CQB of at least $25,000. APYs may vary by location and are accurate for accounts opened on today's date. Restrictions apply.
(Personal & Business)
Annual Percentage Yield for the Luminate Radiant Savings, 3.50% APY. No minimum balance. Rates are subject to change after account is opened. Fees could reduce earnings on the account. Rates effective as of 1/8/2026 . Member FDIC.
Balance: $500,000 - $999,999.99
Balance: $500,000 - $999,999.99
Balance: $5,000.00 to $2,000,000.99
Balance: $5,000.00 to $2,000,000.99
Balance: $25,000.00 to $99,999.99
All Balances
- Sep 27, 20263.00%▲ from 2.02%
- Sep 14, 20262.02%first recorded
New Money Only; Balance: $1,000,000.00+
New Money Only; Balance: $250,000.01 - $1,000,000.00
Compounding and Crediting Frequency: Annually & at Maturity; Early Withdrawal Penalties**: 6 month loss of interest can be taken from principal
Published APY range: 2.40%-4.00%; Published rate range: 2.40%-4.00%. Rates based on zip code and with a minimum of $5,000 not currently deposited at Huntington. Get your variable rate after opening a Huntington Relationship Savings Account when you maintain deposits of $5,000.00 - $2,000,000.99. Balances $2,000,001.00 and above will earn 0.01% (0.01% APY). Balances below $5,000.00 will earn 0.01% (0.01% APY). Balances below $2,500 may be subject to a $10.00 per month maintenance fee. Fees may reduce earnings. When your balance falls into a specific rate tier, your entire balance will earn the applicable rate in effect for that tier. Initial minimum opening deposit to earn the higher interest rate on the HRSA is $5,000.00 and must be "New Money" which is defined as money that is not currently on deposit in any Huntington account (except maturing CDs).
Compounding and Crediting Frequency: Annually & at Maturity; Early Withdrawal Penalties**: 12 month loss of interest can be taken from principal
Compounding and Crediting Frequency: Annually & at Maturity; Early Withdrawal Penalties**: 12 month loss of interest can be taken from principal
Compounding and Crediting Frequency: Annually & at Maturity; Early Withdrawal Penalties**: 12 month loss of interest can be taken from principal
Balance: $10,000.00+
Balance: $20,000.00+
New Money Only; Balance: $10,000.01 - $250,000.00
Balance: On balances above $25,000 and up to $50,000
Balance: $2,000,000+; Compounding and Crediting Frequency: Quarterly; Penalty for Early Closure (less than 3 months after opening): $20; Minimum Balance to Avoid Fee: $50
New Money Only; Balance: $0.01 - $10,000.00
Balance: $500,000 - $1,999,999.99; Compounding and Crediting Frequency: Quarterly; Penalty for Early Closure (less than 3 months after opening): $20; Minimum Balance to Avoid Fee: $50
Balance: On balances up to $25,000
Balance: $500,000.00 to $999,999.99
Balance: $500,000.00 to $999,999.99
Balance: $100,000.00 to $499,999.99
Balance: $100,000.00 to $499,999.99
Balance: $5000.00 to $99,999.99
Balance: $5,000.00 to $99,999.99
Balance: $100,000.00 - $499,999.99; Compounding and Crediting Frequency: Quarterly; Penalty for Early Closure (less than 3 months after opening): $20; Minimum Balance to Avoid Fee: $50
Balance: $250,000.00+; Tiered Rates
Balance: $5,000.00 - $9,999.99
$5,000 And Greater
Balance: $200,000 or more; Dividends paid quarterly
Balance: $50,000 to $199,999; Dividends paid quarterly
$500 - $2,499.99
Balance: $25,000 to $49,999; Dividends paid quarterly
Balance: All balances
Balance: All balances
Balance: All balances
Minimum balance to open $20; no minimum balance to maintain; average balance to earn dividends for the month is $1000
Minimum balance to open and maintain is $35.0
Balance: $2,500 to $24,499; Dividends paid quarterly
$10.00 minimum balance required to earn APY on passbook savings; Rates on savings accounts can change quarterly; Compounded quarterly
$.01 - $499.99
Balance: $105 to $2,499; Dividends paid quarterly
Balance: On remainder over $50,000
High-Yield Youth Savings account is only for members from ages 0-21. No minimum balance. Balances above $2,500.00 are paid the standard share savings rate.
Balance: $100.00 and over; Additional deposits up to $8,000; Minimum additional deposit $100; Matures on teen's 18th birthday; Withdrawal before maturity incurs penalty of all dividends earned
Rates as high as; Savings
- Oct 5, 20265.00%▲ from 4.40%
- Sep 14, 20264.40%first recorded
Balance: $100.00 and over; Additional deposits up to $5,000; Minimum additional deposit $100; Matures on child's 13th birthday; Withdrawal before maturity incurs penalty of all dividends earned
Balance: $0.00 - $5,000.00
Balance: $100,000 +
Balance: $100,000-$250,000; Featured rate
- Oct 5, 20263.60%▲ from 3.50%
- Sep 14, 20263.50%first recorded
Balance: Over $200,000 balance; HYSA not available for business accounts
Balance: $1,000,000+; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
- Oct 13, 20263.40%▲ from 1.85%
- Sep 14, 20261.85%first recorded
Balance: $75,000-$199,999 balance; HYSA not available for business accounts
Balance: $1,000,000.00 and higher; Effective September 8, 2026
Balance: $750,000 - $999,999.99; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
- Oct 13, 20263.05%▲ from 1.85%
- Sep 14, 20261.85%first recorded
Balance: $5-$500 balance; blended APY .79-3.00%; No minimum deposit to open; Limit one account per social security number
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.
Minneapolis, MN Savings Rate Trends
Compare local Minneapolis, MN 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 fell 0.012 points over the past 7 days to 1.892% APY, down from 1.905%.
Minnesota standard savings rates rose 0.037 points over the past 7 days to 0.557% APY, up from 0.521%.
Minneapolis, 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 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 MN high-yield savings average of 1.892% 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 Minneapolis, Minnesota.
Savings Account Earnings in Minneapolis, 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 (1.892% APY) | Monthly Earnings | Standard Savings (0.557% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $94.62 / year | $7.89 | $27.87 / year | $2.32 |
| $10,000 | $189.23 / year | $15.77 | $55.73 / year | $4.64 |
| $25,000 | $473.08 / year | $39.42 | $139.33 / year | $11.61 |
| $50,000 | $946.15 / year | $78.85 | $278.65 / year | $23.22 |
| 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: Minneapolis, Minnesota savings rate averages as of October 13, 2026. | ||||
About Our Minneapolis, Minnesota Savings Rate Database
MonitorBankRates found 13 institutions with branches in Minneapolis (7 banks, 6 credit unions), plus 8 additional state-chartered and national online institutions available to Minneapolis 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: MidCountry Bank offers a savings account at 5.00% APY with a minimum deposit of $0. Use the rate table above to compare all current offers in Minneapolis, Minnesota.
How to Find the Best Savings Rates in Minneapolis, Minnesota
What to compare when shopping for a savings account in Minneapolis, Minnesota
To find the best savings APYs in Minneapolis, Minnesota, start with credit unions and online-only banks: Minneapolis, Minnesota has 14 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 1.892% but top local institutions are offering as high as 5.00%, 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. Minneapolis, Minnesota high-yield savings rates currently average 1.892% 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 Minneapolis, Minnesota institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 21 institutions in Minneapolis, 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 Minneapolis, Minnesota CD rates
- You want check-writing flexibility Minneapolis, Minnesota money market rates
- You need daily transaction access Minneapolis, Minnesota checking rates
Minneapolis, Minnesota Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
11.4% of residents are 65 or older, below the national average of 17.3%. At today’s MN high-yield savings average of 1.892%, saving 10% of the local median salary ($4,803/year) would earn an additional $91 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Minneapolis, Minnesota Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Minneapolis, Minnesota.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current MN Avg APY | 1.892% | 0.557% | 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 Minneapolis, Minnesota averages tracked in our database as of October 13, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Minneapolis, Minnesota
At MN’s top rate of 5.00% from MidCountry Bank, a $10,000 deposit earns $500 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Minneapolis, Minnesota earner is roughly $12,000. At 1.892% APY, saving $1,000/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 1.892% 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 Minneapolis, Minnesota earner makes $48,032/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 1.892% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.892% APY grows to roughly $36,372 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 Minneapolis, Minnesota 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 Minneapolis, 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 Minneapolis, 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 Minneapolis, Minnesota
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Minneapolis, Minnesota safe?
How often do savings rates change in Minneapolis, 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 Minneapolis, Minnesota?
How do I open a savings account in Minneapolis, Minnesota?
Best Savings Rates in Minneapolis, Minnesota
- MidCountry Bank
SmartStart Savings4Me: 5.00% APY - Bell Bank
IRA Variable Rate Savings: 3.56% APY - US Bank
Bank Smartly Savings Account: 3.50% APY - Luminate Bank
Luminate Radiant Savings: 3.50% APY - The Huntington National Bank
Relationship Savings Account - With Huntington Perks Checking: 3.25% APY
Minneapolis, Minnesota Rates & Resources
