Utah Savings Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Utah savings account rates range from 0.50% to 5.10% APY, verified by MonitorBankRates as of October 13, 2026. The best savings rates for Utah include Quill BankQuill Bank3280 N University Ave, Provo, UT 84604A-5.0 ★Texas Ratio: 14.58%Real return: +2.30%APY minus 2.8% CPI (February 2026) High-Yield Savings at 5.10% APY, WaFd BankWaFd Bank405 S Main St, Salt Lake City, UT 84111A+5.0 ★Texas Ratio: 4.48%Real return: +2.20%APY minus 2.8% CPI (February 2026) Start Savings at 5.00% APY, Cyprus Federal Credit UnionCyprus Federal Credit Union3876 W Center view Way, West Jordan, UT 84084A+5.0 ★Texas Ratio: 2.73%Real return: +2.20%APY minus 2.8% CPI (February 2026) Teen Learn & Earn Savings at 5.00% APY, Granite Federal Credit UnionGranite Federal Credit Union3675 S 900 E, Salt Lake City, UT 84106A+5.0 ★Texas Ratio: 3.94%Real return: +2.20%APY minus 2.8% CPI (February 2026) Tier 1 YoungInvestor Savings at 5.00% APY, and Bread FinancialBread Financial12921 S Vista Station Blvd, Draper, UT 84020B4.5 ★Texas Ratio: 21.05%Real return: +1.70%APY minus 2.8% CPI (February 2026) IRA high-yield savings account at 4.50% APY.
Use the tables below to compare savings rates across Utah side-by-side. Utah savings rates currently reach as high as 5.10% APY from Quill Bank at 3280 N University Ave, Provo, UT 84604. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Utah and the surrounding area. Last Updated and Verified: October 13, 2026
Compare the Best Savings Rates in Utah
Utah residents earn a total of 5.10% APY, combining our 4.10% variable base with a 1.00% Rebrand Boost through January 31, 2027. Non-Utah residents earn our 4.10% APY. The Rebrand Boost of 1.00% applies to the portion of your daily balance up to and including $500,000. The portion of your daily balance above $500,000 earns a 4.10% interest rate. Limit of six (6) withdrawals in a monthly statement cycle if the withdrawals are by check, debit card, or preauthorized, made by telephone, or made by an online or mobile transfer of funds.
- Oct 7, 20265.10%▲ from 4.00%
- Oct 2, 20264.00%▼ from 5.00%
- Sep 18, 20265.00%first recorded
Balance: $0 - $500. Checking account required to open
Balance: $0.00 to $1,000.00; Dividends declared, paid and compounded monthly; Tiered rate on average daily balance of $0.01 to $1,000.00
Balance: <$2,000; APY applies to balances up to $1,000
Balance: up to $1,000.00; APY applies to balances up to $1,000; balances over $1,000 revert to the standard savings rate
Save for a rewarding retirement with an IRA. Accounts are FDIC-insured with no hidden fees.
- Oct 7, 20264.50%▲ from 4.00%
- Oct 2, 20264.00%▼ from 4.40%
- Sep 18, 20264.40%first recorded
Balance: $0.00 - $2,499.99; During the first 6 months after account opening, a promotional APY of 5.00% applies to that portion of the total account balance within the first tier, up to $2,499.99. The standard tiered APYs displayed apply to the remaining portion(s) of the account balances above the first tier. Dividend rates are tiered; different portions of the total account balance earn different rates. The APY reflects a blended rate based on the portion of the total balance in each tier, and if held to maturity. Dividends accrue daily and are paid monthly. Fees could reduce earnings on the account. No penalty for withdrawal. Limited to personal accounts; one account per member. Certain conditions and restrictions may apply. Rates and tiers are subject to change without notice. Membership must be completed before account opening. Please refer to the Membership Agreement and Disclosures for terms and conditions applicable to specific accounts
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Balance: $10,000+; Earn 4.25% APY when you keep $10,000+ in savings - more than 11 the national average.3 Otherwise earn 1.00% APY.
- Sep 24, 20264.25%▲ from 3.50%
- Sep 14, 20263.50%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
Non-Utah residents earn our 4.10% APY. The interest rate and APY is variable and may change after account opening. The rate is not guaranteed for any period. Limit of six (6) withdrawals in a monthly statement cycle if the withdrawals are by check, debit card, or preauthorized, made by telephone, or made by an online or mobile transfer of funds.
- Oct 7, 20264.10%▲ from 4.00%
- Oct 2, 20264.00%▼ from 5.00%
- Sep 18, 20265.00%first recorded
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Balance: $0-$15,000; Loyalty Rate
- Oct 9, 20264.10%▲ from 3.60%
- Sep 17, 20263.60%first recorded
Typically, earn interest at a higher rate than with a traditional savings account. Accelerate earnings, with flexible access to your money. Open with $100 or more, then boost your balance with online deposits.
- Oct 10, 20264.05%▲ from 4.00%
- Sep 27, 20264.00%▲ from 3.95%
- Sep 24, 20263.95%first recorded
Build your retirement savings in a Traditional or Roth IRA. Get both the tax advantages of an IRA and a great savings rate. Save confidently for the future with an FDIC-insured account.
- Oct 10, 20264.05%▲ from 4.00%
- Sep 27, 20264.00%▲ from 3.95%
- Sep 24, 20263.95%first recorded
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Limited-time boost applies for up to 6 months after you open your account. Offer ends 10/31/26.
- Oct 10, 20264.01%▲ from 3.26%
- Oct 6, 20263.26%first recorded
Simple, high-yield savings earning up to 4.01% APY for up to 6 months.
- Oct 6, 20264.01%▲ from 3.75%
- Sep 30, 20263.75%first recorded
All Balances
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Balance: $2,000-$5,000; APY applies to balances up to $1,000
Monthly transfer of $10 minimum from checking, share savings, money market, or student savings; not available for bump-rate or flexible certificates; limit $100,000 combined Dedicated Savings and Flexible Certificate Accounts; $10 minimum balance after any withdrawal unless closed
Limited-time promotional rate on all balances for up to 6 months. Use promo code BOOST41.
- Sep 27, 20263.90%▲ from 3.75%
- Sep 18, 20263.75%first recorded
Balance: $1,000,000 and over
- Oct 9, 20263.90%▲ from 2.70%
- Sep 29, 20262.70%first recorded
Maximum deposit of $20,000,000. Funds are typically available same day when you need it. Qualifying Cash balances are calculated based on the prior day's ending Bank Deposit Program balance. Preferred Savings Program for Qualifying Cash is only available to brokerage accounts.
Balance: $0-$15,000
Earn 1.00% APY bonus for 3 months when you refer a friend. Standard APY may change at any time before or after account is opened. Maximum balance limits apply.
- Sep 18, 20263.50%▲ from 3.40%
- Sep 14, 20263.40%first recorded
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: $0.01 - $250,000.00; Dividend Frequency: Monthly
Balance: $250,000 - $999,999.99
- Oct 9, 20263.45%▲ from 2.70%
- Sep 29, 20262.70%first recorded
Balance: $0.01 - $2,500
All Balances
Balance: $0-$9,999.99
Balance: $25,000+
- Oct 13, 20263.25%▲ from 3.10%
- Sep 14, 20263.10%first recorded
Balance: $750,000 and up
Balance: $5000.01-$10,000; APY applies to balances up to $1,000
Balance: $250,000-$749,999
Balance: $100,000-$1,000,000
Balance: $100,000 - $249,999.99
Balance: $100000
- Oct 9, 20262.70%▲ from 2.60%
- Sep 14, 20262.60%first recorded
Balance: $100000
- Oct 9, 20262.70%▲ from 2.60%
- Sep 14, 20262.60%first recorded
Balance: $100,000-$249,000
Balance: $50,000 & above; Term n/a
Balance: up to $10,000
Balance: $100+; Dividends: Quarterly
Balance: $500.01 - $1000. Checking account required to open
Bonus Savings account promotional rate of 2.50% APY is effective as of 1/31/24. Dividends are paid quarterly. Rate is subject to change. Annual Percentage Yield (APY). Bonus Savings account is available for new and existing members of Chartway Credit Union. To qualify for the offer, Bonus Savings account must be funded completely with new money. New money is defined as funds not currently on deposit with Chartway Credit Union. Funds transferred from IRA accounts are not eligible for this product. Fees could reduce earnings on the account (applies only to maintenance or activity fees). Chartway senior leadership positions (Vice President and above), Board of Directors, and volunteers are not eligible for this product.
Paid Monthly
Balance: $1,000,000+; Avoid $25 monthly service fee with $2,500 minimum
Withdrawals: IRA Restrictions; Term n/a
Balance: $500,000 - $999,999; Avoid $25 monthly service fee with $2,500 minimum
- Oct 4, 20262.22%▲ from 2.02%
- Sep 20, 20262.02%first recorded
Balance: $1,000,000.00 and above
- Oct 9, 20262.15%▲ from 2.00%
- Sep 14, 20262.00%first recorded
Balance: $250,000 - $499,999; Avoid $25 monthly service fee with $2,500 minimum
- Oct 4, 20262.07%▲ from 1.76%
- Sep 20, 20261.76%first recorded
Minimum: $2,500 (Money Market) | $25 (Savings); Balance: $250,000+
Balance: $50,000 - $99,999.99
Balance: $25,000 - $49,999.99; Term n/a
IRA/HSA Accounts
IRA/HSA Accounts
Balance: $50,000.00 and over
Balance: $250,000 & over
- Oct 3, 20261.45%▲ from 1.35%
- Sep 14, 20261.35%first recorded
Published APY range: 1.07% - 0.64%; Published rate range: 1.06% - 0.64%. Balance: Interest paid on balances above $25,000
Qualifications Required: Receive deposits of at least $1,000 and keep accounts positive by the end of each month.; 1.00% APY on balances over $5,000
1.00% APY on every dollar when you open an online savings account with Varo and get more than twice the national average, plus no minimum deposit, savings limit, or monthly or annual fees.
Balance: $0 - $9,999.99; Earn 4.25% APY when you keep $10,000+ in savings - more than 11 the national average.3 Otherwise earn 1.00% APY.
Balance: $100,000 up to $249,999.99
- Oct 3, 20260.85%▲ from 0.75%
- Sep 14, 20260.75%first recorded
Balance: .01 up to $99,999.99
- Oct 3, 20260.55%▲ from 0.50%
- Sep 14, 20260.50%first recorded
Balance: $50,000 - $99,999; Avoid $25 monthly service fee with $2,500 minimum
- Oct 4, 20260.50%▼ from 1.51%
- Sep 20, 20261.51%first recorded
Minimum: $2,500 (Money Market) | $25 (Savings); Balance: $25,000 - $99,999
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.
Utah Savings Rate Trends
Compare local Utah 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.
Utah high-yield savings rates rose 0.285 points over the past 7 days to 3.121% APY, up from 2.836%.
Utah standard savings rates rose 0.018 points over the past 7 days to 1.251% APY, up from 1.234%.
Utah Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current UT 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 UT high-yield savings average of 3.121% 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 Utah.
Savings Account Earnings in Utah
Annual interest earnings at current UT average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (3.121% APY) | Monthly Earnings | Standard Savings (1.251% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $156.04 / year | $13.00 | $62.57 / year | $5.21 |
| $10,000 | $312.08 / year | $26.01 | $125.13 / year | $10.43 |
| $25,000 | $780.20 / year | $65.02 | $312.83 / year | $26.07 |
| $50,000 | $1,560.40 / year | $130.03 | $625.65 / year | $52.14 |
| 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: Utah savings rate averages as of October 13, 2026. | ||||
About Our Utah Savings Rate Database
MonitorBankRates tracks 162 savings rates from 19 banks and 14 credit unions offering savings accounts to Utah 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 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: Quill Bank offers a savings account at 5.10% APY with a minimum deposit of $100. Use the rate table above to compare all current offers in Utah.
How to Find the Best Savings Rates in Utah
What to compare when shopping for a savings account in Utah
To find the best savings APYs in Utah, start with credit unions and online-only banks: Utah 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 UT high-yield savings average is 3.121% but top local institutions are offering as high as 5.10%, 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. Utah high-yield savings rates currently average 3.121% 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 Utah institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 33 institutions in Utah 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 Utah CD rates
- You want check-writing flexibility Utah money market rates
- You need daily transaction access Utah checking rates
Utah Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
11.9% of residents are 65 or older, below the national average of 17.3%; a low unemployment rate of 3.5% reflects a strong local economy with solid savings capacity. At today’s UT high-yield savings average of 3.121%, saving 10% of the local median salary ($4,371/year) would earn an additional $136 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Utah Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Utah.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current UT Avg APY | 3.121% | 1.251% | 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 Utah 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 Utah
At UT’s top rate of 5.10% from Quill Bank, a $10,000 deposit earns $510 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Utah earner is roughly $10,900. At 3.121% APY, saving $910/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsUtah’s high-yield savings average is 3.121% 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 Utah earner makes $43,714/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 3.121% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 3.121% APY grows to roughly $46,224 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 Utah 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 Utah 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 Utah. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in UT.
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 Utah
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Utah safe?
How often do savings rates change in Utah?
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 Utah?
How do I open a savings account in Utah?
Best Savings Rates in Utah
- Quill Bank
High-Yield Savings: 5.10% APY - WaFd Bank
Start Savings: 5.00% APY - Cyprus Federal Credit Union
Teen Learn & Earn Savings: 5.00% APY - Granite Federal Credit Union
Tier 1 YoungInvestor Savings: 5.00% APY - Bread Financial
IRA high-yield savings account: 4.50% APY
Cities in Utah
