Utah 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 Utah include Cyprus Federal Credit UnionCyprus Federal Credit Union3876 W Center view Way, West Jordan, UT 84084A+5.0 ★Texas Ratio: 2.94%Real return: +7.20%APY minus 2.8% CPI (February 2026) Dream Round Up Savings at 10.00% APY, Nebo Credit UnionNebo Credit Union730 E 300 S, Springville, UT 84663Real return: +7.20%APY minus 2.8% CPI (February 2026) Dream Round Up Savings at 10.00% APY, Accordia BankAccordia Bank3280 N University Ave, Provo, UT 84604A-5.0 ★Texas Ratio: 14.58%Real return: +2.20%APY minus 2.8% CPI (February 2026) High-Yield Savings at 5.00% APY, Granite Federal Credit UnionGranite Federal Credit Union3675 S 900 E, Salt Lake City, UT 84106A+5.0 ★Texas Ratio: 3.02%Real return: +2.20%APY minus 2.8% CPI (February 2026) Tier 1 YoungInvestor Savings at 5.00% APY, and Chartway Credit UnionChartway Credit Union562 N Main St, Tooele, UT 84074A5.0 ★Texas Ratio: 10.46%Real return: +1.70%APY minus 2.8% CPI (February 2026) Smart Steps Savings 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 10.00% APY from Cyprus Federal Credit Union at 3876 W Center view Way, West Jordan, UT 84084. 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: September 21, 2026
Compare the Best Savings Rates in Utah
Balance: $0.01 and over
Balance: $0.01 and over
Earn 5.00% APY* Grow your savings with a competitivehigh-yield rate. APY=Annual Percentage Yield
Balance: $0.00 to $1,000.00
Balance: <$2,000
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
Save for a rewarding retirement. Accounts are FDIC-insured with no hidden fees.
Balance: $15,000+
Qualifications Required: At least $250 in cumulative deposits during the previous statement cycle ("Evaluation Period").; LevelUp Rate is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate. Rates are variable and subject to change.
Balance: $2,000-$5,000
Interest is compounded daily, then posted monthly to your account. For high-yield savings accounts, the rate may change after the account is opened.
Annual Percentage Yield (APY) is the rate of return for one year, including interest earned. Interest is compounded daily then credited to your account monthly. Earn interest on your entire account balance. No monthly maintenance fee. FDIC insured through Comenity Capital Bank with a coverage limit of $250,000 per depositor for each ownership category. APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. For high-yield savings accounts, the rate may change after the account is opened. Deposits begin earning interest from the moment they are received but may not be immediately available for withdrawal.
Balance: $0
Balance: 60 Month
Balance: 36 Month
Balance: 24 Month
Balance: 12 Month
Balance: All balances
Qualifications Required: At least $1,000 in deposits and keep accounts positive by the end of each month; 1.00% APY on balances over $5,000
Earn 3.60% Annual Percentage Yield (APY)* Make the most of your idle cash with a competitive yield that helps keep your savings working for you. Why Choose the Preferred Savings Program? Explore the benefits of this deposit product available exclusively to clients with an eligible Morgan Stanley brokerage account.1 Contact your Morgan Stanley team to learn more. product Enhanced Yield Enjoy a competitive rate that is 9x the average savings account.2 product FDIC Insured Your deposits are FDIC insured up to applicable limits; certain conditions must be satisfied. tool Convenient Access Funds are typically available same day3 when you need it. Qualifying cash is defined as new cash proceeds into the Banks in the last 30 calendar days, inclusive of deposits from external sources and proceeds from the sale of money market funds, fixed income, equities and all other securities, net of any cash outflows, in a client's brokerage account. Net proceeds from weekends and holidays will be included if they immediately precede the first day of the 30 day period. Withdrawals from an account in Preferred Savings Program for Qualifying Cash are limited to 10 transactions per calendar month, and any withdrawal or transfer over the limit in any one calendar month will be subject to an excess withdrawal fee.
Balance: $0-$15,000
Balance: $1,000,000 +
Earn an extra 1.00% APY for 3 months when you refer a friend. Maximum balance limits apply.
Earn 1.00% APY on balances below $10,000. See Square Savings Deposit Account Terms and the Interest Rate Chart for more information. APY subject to change, current as of 6/8/2026. No minimum deposit is required to open an account. Accounts will not be charged monthly fees. The Square Savings deposit sweep program distributes your funds among multiple FDIC-insured partner banks, meaning your eligible savings deposits have FDIC insurance coverage of up to $2.5 million. Pending balances are not subject to FDIC insurance.
Balance: $0.01 - $2,500.00. Variable rate; may change after account opening.
Balance: $250,000+
Balance: $750,000 and up
Balance: $250,000 - $999,999.99
On balances of $25,000+
Standard Rate earned if $250 deposit requirement is not met. Rates are variable and subject to change.
Balance: $5000.01-$10,000
Balance: $250,000-$749,999
Balance: $100,000-$1,000,000
Balance: over $250,000.00
Balance: $100,000 - $249,999.99
Balance: $100,000-$249,000
Balance: $5,000,000+
Dividend Compounded: Monthly Dividend Period: Monthly
Savings up to $10,000
We'll match your opening deposit up to $20! Higher interest rate than Statement Savings. Interest paid quarterly. We pay for great grades! We'll deposit $1 for every A or A- earned on a child's report card (Grades 6-12). Up to $32 per school year, with proof of report card. Pick a prize! To build excitement around saving, young kids can choose a prize from the Central Bank Treasure Chest every time they come into the office to make a deposit. Service charge free. Free ATM card available.
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.
Balance: $1,000,000+; Monthly Service Fee: $25
Balance: $1,000,000 - $4,999,999
Balance: $500,000 - $999,999; Monthly Service Fee: $25
Balance: $250,000 - $499,999; Monthly Service Fee: $25
Balance: $250,000+
Balance: $500,000 - $999,999
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 0.110 points over the past 7 days to 1.968% APY, up from 1.858%.
Utah standard savings rates rose 0.013 points over the past 7 days to 0.814% APY, up from 0.801%.
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 2026–2027.
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 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 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 (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: Utah savings rate averages as of September 22, 2026. | ||||
About Our Utah Savings Rate Database
MonitorBankRates tracks 163 savings rates from 11 banks and 15 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 (1–5), 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: Cyprus Federal Credit Union offers a savings account at 10.00% APY. 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 15 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 1.968% but top local institutions are offering as high as 10.00%, 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 3–6 months of expenses in a liquid, FDIC-insured account. Utah 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 Utah institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 26 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 1.968%, saving 10% of the local median salary ($4,371/year) would earn an additional $86 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 | 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 Utah 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 Utah
At UT’s top rate of 10.00% from Cyprus Federal Credit Union, a $10,000 deposit earns $1,000 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 1.968% 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 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 Utah earner makes $43,714/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 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
- Cyprus Federal Credit Union
Dream Round Up Savings: 10.00% APY - Nebo Credit Union
Dream Round Up Savings: 10.00% APY - Accordia Bank
High-Yield Savings: 5.00% APY - Granite Federal Credit Union
Tier 1 YoungInvestor Savings: 5.00% APY - Chartway Credit Union
Smart Steps Savings: 4.50% APY
Cities in Utah
