Rochester, Minnesota Savings Rates - October 2026
Brian McKay
Brian McKay
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Rochester, 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 Rochester, Minnesota and the surrounding area include Mayo Employees Federal Credit UnionMayo Employees Federal Credit Union130 23rd Ave SW, Rochester, MN 55902A+5.0 ★Texas Ratio: 0.16%Real return: +2.70%APY minus 2.8% CPI (February 2026) Teen Savings at 5.50% APY, US BankUS Bank402 1st Ave Sw, Rochester, MN 55902A+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, Foresight BankForesight Bank1921 Highway 52 North, Rochester, MN 55901C-3.7 ★Texas Ratio: 31.20%Real return: +0.14%APY minus 2.8% CPI (February 2026) Savings Account at 2.94% APY, Minnesota FirstMinnesota First1932 Viking Dr Nw, Rochester, MN 55901A+5.0 ★Texas Ratio: 0.78%Real return: -0.05%APY minus 2.8% CPI (February 2026) Premium High Yield Savings at 2.75% APY, and Altra Federal Credit UnionAltra Federal Credit Union123 16th AVE SW STE 500, ROCHESTER, MN 55902 1935A+5.0 ★Texas Ratio: 3.03%Real return: -2.05%APY minus 2.8% CPI (February 2026) Health Savings Account at 0.75% APY.
Rochester has 62 local institutions in our database, with savings rates as high as 5.50% APY from Mayo Employees Federal Credit Union at 130 23rd Ave SW, Rochester, MN 55902. 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 Rochester, Minnesota and the surrounding area. Last Updated and Verified: October 13, 2026
Compare the Best Savings Rates in Rochester, Minnesota & Surrounding Communities
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
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
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.
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: $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
- Oct 7, 20262.94%▲ from 1.10%
- Oct 3, 20261.10%▲ from 1.00%
- Sep 27, 20261.00%▼ from 1.11%
- Sep 19, 20261.11%▲ from 0.95%
Balance: $500,000 - $749,999.99; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
- Oct 13, 20262.90%▲ from 1.85%
- Sep 14, 20261.85%first recorded
Age: 10-17; Balance: $10,000 - $19,999.99
- Oct 3, 20262.83%▲ from 2.68%
- Sep 19, 20262.68%▲ from 2.52%
- Sep 14, 20262.52%first recorded
Balance: $100,000.00 - and above
Age: 5-9; Balance: $5,000 - $9,999.99
- Oct 3, 20262.73%▲ from 2.57%
- Sep 19, 20262.57%▲ from 2.42%
- Sep 14, 20262.42%first recorded
Balance: $250,000 - $499,999.99; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
- Oct 13, 20262.65%▲ from 1.85%
- Sep 14, 20261.85%first recorded
Age: 1-4; Balance: $500 - $4,999.99
- Oct 3, 20262.63%▲ from 2.47%
- Sep 19, 20262.47%▲ from 2.32%
- Sep 14, 20262.32%first recorded
Age: 0; Balance: $1 - $499.99
- Oct 3, 20262.52%▲ from 2.37%
- Sep 19, 20262.37%▲ from 2.22%
- Sep 14, 20262.22%first recorded
Balance: $70,000.00 - $99,999.99
Balance: $35,000.00 - $69,999.99
Balance: $100,000 and over
Balance: $100,000 - $249,999.99; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
- Oct 13, 20262.30%▲ from 1.85%
- Sep 14, 20261.85%first recorded
Balance: $500.00 - $34,999.99
Balance: $50,000 - $99,999.99
Balance: $50,000 - $99,999.99; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
- Oct 13, 20262.00%▲ from 1.85%
- Sep 14, 20261.85%first recorded
Balance: $20,000 - $49,999.99
Balance: $20,000 - $49,999.99; Minimum balance $20,000 to earn stated rate; Rate may change after account is opened
Balance: $25,000 and over
- Oct 3, 20261.71%▲ from 1.56%
- Sep 19, 20261.56%▲ from 1.41%
- Sep 14, 20261.41%first recorded
Balance: $2,500 - $24,999.99
- Oct 3, 20261.61%▲ from 1.46%
- Sep 19, 20261.46%▲ from 1.31%
- Sep 14, 20261.31%first recorded
Balance: $1,000 - $2,499.99
- Oct 3, 20261.56%▲ from 1.41%
- Sep 19, 20261.41%▲ from 1.26%
- Sep 14, 20261.26%first recorded
Balance: $10,000 - $19,999.99
Balance: $40,000 and over
- Oct 3, 20261.21%▲ from 1.10%
- Sep 19, 20261.10%▲ from 0.95%
- Sep 14, 20260.95%first recorded
Balance: $40,000 and over
- Oct 3, 20261.21%▲ from 1.11%
- Sep 19, 20261.11%▲ from 0.95%
- Sep 14, 20260.95%first recorded
Age: 18-24; Balance: $20,000 and over
- Oct 3, 20261.21%▲ from 1.10%
- Sep 19, 20261.10%▲ from 0.95%
- Sep 14, 20260.95%first recorded
Balance: $10,000 - $39,999.99
- Oct 3, 20261.16%▲ from 1.06%
- Sep 19, 20261.06%▲ from 0.90%
- Sep 14, 20260.90%first recorded
Balance: $10,000 - $39,999.99
- Oct 3, 20261.15%▲ from 1.05%
- Sep 19, 20261.05%▲ from 0.90%
- Sep 14, 20260.90%first recorded
Balance: $2,500 - $9,999.99
Balance: $1 - $9,999.99
- Oct 3, 20261.11%▲ from 1.00%
- Sep 19, 20261.00%▲ from 0.85%
- Sep 14, 20260.85%first recorded
Balance: $1 - $9,999.99
- Oct 3, 20261.10%▲ from 1.00%
- Sep 19, 20261.00%▲ from 0.85%
- Sep 14, 20260.85%first recorded
- Oct 3, 20261.10%▲ from 1.00%
- Sep 27, 20261.00%▼ from 1.11%
- Sep 19, 20261.11%▲ from 0.95%
- Sep 14, 20260.95%first recorded
Balance: $5,000 & over
Dividend rates effective July 1, 2026
Balance: $25,000.00 - and above
Balance: $0-$4,999
Rate may change after account is opened.
Rates effective 10-13-2026; Rate may change after account is opened
Dividend rates effective July 1, 2026
Balance: $2,500.00 - $24,999.99
Balance: $20,000+; Rate may change after account is opened; You must keep a balance of $5 in savings to retain your membership
Dividend rates effective July 1, 2026
Dividend rates effective July 1, 2026
Only $5 monthly service charge if below minimum daily balance any day during statement cycle; Quarterly Statements
Balance: $1,000.00 - $2,499.99
Balance: $2,500 - $19,999.99; Rate may change after account is opened; You must keep a balance of $5 in savings to retain your membership
Dividend rates effective July 1, 2026
Dividend rates effective July 1, 2026
Balance: $0.01 - $999.99
Balance: All balances
Balance: All balances
Balance: All balances
When linked to Premier Checking. Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.
- Oct 7, 20260.05%▲ from 0.01%
- Sep 27, 20260.01%▼ from 0.05%
- Sep 18, 20260.05%first recorded
Balance: $0+
Balance: $0 - $2,499.99; Rate may change after account is opened; You must keep a balance of $5 in savings to retain your membership
When linked to Prime Checking. Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.
- Oct 7, 20260.02%▲ from 0.01%
- Sep 27, 20260.01%▼ from 0.02%
- Sep 18, 20260.02%first recorded
Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.
- Sep 27, 20260.01%▼ from 0.02%
- Sep 18, 20260.02%first recorded
Balance: $0+
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: $0 - $5,000.00*
Balance: $0 - $5,000.00
- Sep 19, 20265.00%▲ from 0.04%
- Sep 14, 20260.04%first recorded
Rates as high as; Savings
- Oct 5, 20265.00%▲ from 4.40%
- Sep 14, 20264.40%first recorded
Method of Compounding: Monthly
Available Balance: Any Amount
- Sep 19, 20264.58%▲ from 4.32%
- Sep 14, 20264.32%first recorded
60 Month ($25,000 or more)*#~
48 Month ($25,000 or more)*#~
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: $75,000-$199,999 balance; HYSA not available for business accounts
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.
Rochester, MN Savings Rate Trends
Compare local Rochester, 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%.
Rochester, 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 Rochester, Minnesota.
Savings Account Earnings in Rochester, 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: Rochester, Minnesota savings rate averages as of October 13, 2026. | ||||
About Our Rochester, Minnesota Savings Rate Database
MonitorBankRates found 10 institutions with branches in Rochester (6 banks, 4 credit unions), plus 9 additional state-chartered and national online institutions available to Rochester 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: Mayo Employees Federal Credit Union offers a savings account at 5.50% APY with a minimum deposit of $100. Use the rate table above to compare all current offers in Rochester, Minnesota.
How to Find the Best Savings Rates in Rochester, Minnesota
What to compare when shopping for a savings account in Rochester, Minnesota
To find the best savings APYs in Rochester, Minnesota, start with credit unions and online-only banks: Rochester, Minnesota has 8 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 5.50%, 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. Rochester, 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 Rochester, Minnesota institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 19 institutions in Rochester, 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 Rochester, Minnesota CD rates
- You want check-writing flexibility Rochester, Minnesota money market rates
- You need daily transaction access Rochester, Minnesota checking rates
Rochester, Minnesota Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
16.3% of residents are 65 or older, below the national average of 17.3%; a low unemployment rate of 3.7% reflects a strong local economy with solid savings capacity. At today’s MN high-yield savings average of 1.892%, saving 10% of the local median salary ($5,292/year) would earn an additional $100 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Rochester, Minnesota Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Rochester, 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 Rochester, 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 Rochester, Minnesota
At MN’s top rate of 5.50% from Mayo Employees Federal Credit Union, a $10,000 deposit earns $550 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Rochester, Minnesota earner is roughly $13,200. At 1.892% APY, saving $1,100/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 Rochester, Minnesota earner makes $52,924/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 Rochester, 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 Rochester, 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 Rochester, 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 Rochester, Minnesota
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Rochester, Minnesota safe?
How often do savings rates change in Rochester, 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 Rochester, Minnesota?
How do I open a savings account in Rochester, Minnesota?
Best Savings Rates in Rochester, Minnesota
- Mayo Employees Federal Credit Union
Teen Savings: 5.50% APY - US Bank
Bank Smartly Savings Account: 3.50% APY - Foresight Bank
Savings Account: 2.94% APY - Minnesota First
Premium High Yield Savings: 2.75% APY - Altra Federal Credit Union
Health Savings Account: 0.75% APY
Rochester, Minnesota Rates & Resources
