Portsmouth, Virginia Savings Rates - October 2026
Brian McKay
Brian McKay
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Portsmouth, Virginia savings account rates range from 0.01% to 5.00% APY, verified by MonitorBankRates as of October 13, 2026. The best savings rates for Portsmouth, Virginia and the surrounding area include BayPort Credit UnionBayPort Credit Union1241 Frederick Blvd, Portsmouth, VA 23707A+5.0 ★Texas Ratio: 4.37%Real return: +2.20%APY minus 2.8% CPI (February 2026) Fast Start Savings at 5.00% APY, Chartway Credit UnionChartway Credit Union801 Crawford St, Portsmouth, VA 23704 3822A5.0 ★Texas Ratio: 10.30%Real return: +1.70%APY minus 2.8% CPI (February 2026) Smart Steps Savings at 4.50% APY, Navy Federal Credit UnionNavy Federal Credit Union5627 West High St, Portsmouth, VA 23703A5.0 ★Texas Ratio: 8.14%Real return: -0.65%APY minus 2.8% CPI (February 2026) Jumbo Money Market Savings Account at 2.15% APY, ABNB Federal Credit UnionABNB Federal Credit Union4000 Coast Guard Blvd, Portsmouth, VA 23703A+5.0 ★Texas Ratio: 5.45%Real return: -1.85%APY minus 2.8% CPI (February 2026) ProBiz Insured Savings Account at 0.95% APY, and Woodforest National BankWoodforest National Bank1094 Frederick Blvd, Portsmouth, VA 23707A-5.0 ★Texas Ratio: 14.96%Real return: -2.45%APY minus 2.8% CPI (February 2026) PERSONAL SAVINGS at 0.35% APY.
Portsmouth has 48 local institutions in our database, with savings rates as high as 5.00% APY from BayPort Credit Union at 1241 Frederick Blvd, Portsmouth, VA 23707. Use the table below to compare all available offers, including options from institutions serving the broader Virginia area. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Portsmouth, Virginia and the surrounding area. Last Updated and Verified: October 13, 2026
Compare the Best Savings Rates in Portsmouth, Virginia & Surrounding Communities
Balance: $0-500
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
Balance: $500.01-1,999.99
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: $0-100,000
Balance: $1,000,000 and over
Balance: $500,000 - $999,999
Balance: $250,000 - $499,999
Balance: $100,000 - $249,999
Balance: $50,000 and over
Balance: $2,500 - $4,999.99; 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
Balance: $25,000 - $49,999
Balance: $10,000 - $24,999
Balance: $2,500 - $9,999
Balance: $5,000 - $9,999.99; 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
Balance: $10,000.00 or more
Over $10,000; Transaction Limits: Limited
Transaction Limits: Limited
- Oct 2, 20260.30%▲ from 0.05%
- Sep 27, 20260.05%▼ from 0.30%
- Sep 14, 20260.30%first recorded
Balance: $0 - $99,999
Balance: $100.00 - $99,999,99
Balance: $10,000 - $24,999.99; 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
Balance: $100+
Balance: less than $10,000
Under $10,000; Transaction Limits: Limited
Balance: $2,000+
Balance: $100,000.01+
Balance: $2,000+
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+
Transaction Limits: Limited
- Oct 2, 20260.05%▼ from 0.25%
- Sep 27, 20260.25%▲ from 0.05%
- Sep 14, 20260.05%first recorded
APY = Annual Percentage Yield. Fees could reduce earnings on the account (applies only to maintenance or activity fees).
APY = Annual Percentage Yield. Fees could reduce earnings on the account (applies only to maintenance or activity fees).
APY = Annual Percentage Yield. Fees could reduce earnings on the account (applies only to maintenance or activity fees).
Balance: $25,000 +; 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
Balance: $100-1,999.99
Balance: $25 required for members 21+; $5 for members under 21
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+
Rates are accurate as of 7/1/2025 and may change after the account is opened. Fees for ATM transactions at foreign (non-Primis) ATMs will be refunded to your account on the 15 of the month. Fees may reduce earnings. This account is only available online.
This is a variable rate account. Rates are subject to change at any time without notice and are not guaranteed until the account is opened. Fees may reduce earnings. You may add a joint owner after your application is approved.
Competitive APY. These accounts are only available online.
Earn 3.75% APY* on Daily Balances when you Maintain an Advantage Checking Account. Earn 3.25% APY* without an Advantage Checking Account.
Balance: $250,000+
APY (Annual Percentage Yield) is variable and effective 10/6/2026.
- Oct 2, 20263.10%▲ from 3.00%
- Sep 18, 20263.00%first recorded
Balance: $1+; RELATIONSHIP: 3.10% APY
- Oct 2, 20263.10%▲ from 3.00%
- Sep 24, 20263.00%first recorded
Balance: $250,000+
Qualifications Required: Have an open Movement Rewards Checking Account; Minimum daily balance of $15,000 in the Movement Rewards Savings account; Digital statements must be activated; High interest rate on balances up to $50,000* if the following requirements are met each monthly statement cycle (ending the last business day of the month): Have an open Movement Rewards Checking Account or Minimum daily balance of $15,000 in the Movement Rewards Savings account. Digital statements must be activated. If you do not meet the qualifications listed above during the monthly statement cycle, the entire balance of the account will earn 0.25% APY.*
- Sep 19, 20263.05%▲ from 0.25%
- Sep 7, 20260.25%first recorded
Balance: $0.01 - $100,000.99
Qualifying balance up to $75,000.00; 3.00% to 1.34% APY* on balances above $75,000
Qualifications Required: 12 qualifying debit card purchases; be enrolled in and agree to receive eStatements; and be enrolled in and log into Online Banking
2.80% APY for balances of $0.01 - $4,999.99; 2.80% APY for balances of $5,000 or more.
Balance: $0.01 and Greater
Balance: $10,000 - $99,999
Balance Tiers: $0 - $49,999.99 | 2.20% APY; $50,000 + | 2.70% APY
Balance: $100,000 - $249,999
Balance: $0 - $9,999
Balance: $1 - $99,999
Co-owned with parent or guardian Complimentary Kids Savings stackable money bank and passbook at new account opening
Visit or Call
- Sep 27, 20261.93%▲ from 1.68%
- Sep 24, 20261.68%first recorded
Visit or Call
- Sep 27, 20261.93%▲ from 1.68%
- Sep 24, 20261.68%first recorded
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.
Portsmouth, VA Savings Rate Trends
Compare local Portsmouth, VA 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.
Virginia high-yield savings rates fell 0.049 points over the past 7 days to 2.191% APY, down from 2.240%.
Virginia standard savings rates fell 0.001 points over the past 7 days to 0.537% APY, down from 0.538%.
Portsmouth, Virginia Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current VA 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 VA high-yield savings average of 2.191% 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 Portsmouth, Virginia.
Savings Account Earnings in Portsmouth, Virginia
Annual interest earnings at current VA average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (2.191% APY) | Monthly Earnings | Standard Savings (0.537% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $109.56 / year | $9.13 | $26.85 / year | $2.24 |
| $10,000 | $219.12 / year | $18.26 | $53.69 / year | $4.47 |
| $25,000 | $547.80 / year | $45.65 | $134.23 / year | $11.19 |
| $50,000 | $1,095.60 / year | $91.30 | $268.45 / year | $22.37 |
| 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: Portsmouth, Virginia savings rate averages as of October 14, 2026. | ||||
About Our Portsmouth, Virginia Savings Rate Database
MonitorBankRates found 8 institutions with branches in Portsmouth (2 banks, 6 credit unions), plus 17 additional state-chartered and national online institutions available to Portsmouth 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: BayPort Credit Union offers a savings account at 5.00% APY with a minimum deposit of $5. Use the rate table above to compare all current offers in Portsmouth, Virginia.
How to Find the Best Savings Rates in Portsmouth, Virginia
What to compare when shopping for a savings account in Portsmouth, Virginia
To find the best savings APYs in Portsmouth, Virginia, start with credit unions and online-only banks: Portsmouth, Virginia has 6 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 VA high-yield savings average is 2.191% 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. Portsmouth, Virginia high-yield savings rates currently average 2.191% 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 Portsmouth, Virginia institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 25 institutions in Portsmouth, Virginia 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 Portsmouth, Virginia CD rates
- You want check-writing flexibility Portsmouth, Virginia money market rates
- You need daily transaction access Portsmouth, Virginia checking rates
Portsmouth, Virginia Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
15.5% of residents are 65 or older, below the national average of 17.3%. At today’s VA high-yield savings average of 2.191%, saving 10% of the local median salary ($4,023/year) would earn an additional $88 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Portsmouth, Virginia Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Portsmouth, Virginia.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current VA Avg APY | 2.191% | 0.537% | 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 Portsmouth, Virginia averages tracked in our database as of October 14, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Portsmouth, Virginia
At VA’s top rate of 5.00% from BayPort Credit Union, 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 Portsmouth, Virginia earner is roughly $10,100. At 2.191% APY, saving $840/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsVirginia’s high-yield savings average is 2.191% 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 Portsmouth, Virginia earner makes $40,239/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 2.191% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 2.191% APY grows to roughly $38,566 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 Portsmouth, Virginia 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 Portsmouth, Virginia 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 Portsmouth, Virginia. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in VA.
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 Portsmouth, Virginia
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Portsmouth, Virginia safe?
How often do savings rates change in Portsmouth, Virginia?
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 Portsmouth, Virginia?
How do I open a savings account in Portsmouth, Virginia?
Best Savings Rates in Portsmouth, Virginia
- BayPort Credit Union
Fast Start Savings: 5.00% APY - Chartway Credit Union
Smart Steps Savings: 4.50% APY - Navy Federal Credit Union
Jumbo Money Market Savings Account: 2.15% APY - ABNB Federal Credit Union
ProBiz Insured Savings Account: 0.95% APY - Woodforest National Bank
PERSONAL SAVINGS: 0.35% APY
Portsmouth, Virginia Rates & Resources
