Savings Account Statistics 2026: 18 Facts From the Fed and the FDIC
Sixty-three percent of U.S. adults could cover a $400 shock with cash in 2025. Eighteen savings statistics from the Federal Reserve SHED and FDIC national rates, on emergency funds, rainy-day savings and deposit APYs.
Most U.S. adults have a bank account, but far fewer have a cushion that can survive a real shock. In 2025, 63% said they could cover a $400 expense with cash or its equivalent, and 55% had rainy-day savings for three months of expenses, according to the Federal Reserve’s Survey of Household Economics and Decisionmaking. At the same time, the FDIC’s national average savings rate was only 0.37%. Here are 18 statistics that connect how people save with what banks actually pay.
Data as of October 11, 2026. Household figures come from the Federal Reserve Board’s Report on the Economic Well-Being of U.S. Households in 2025 (SHED fielded October 17 to 28, 2025; report published May 2026). Deposit rates come from the FDIC National Rates and Rate Caps for September 2026. Where we subtract or compare published figures, we say so. Bank APYs are variable. This page is general information, not financial advice.
Key takeaways
- $400 test: 63% of adults would cover a $400 shock with cash or its equivalent (2025 SHED).
- Rainy-day fund: 55% had savings for three months of expenses, flat vs 2024 and down from 59% in 2021.
- National APY: the FDIC’s average savings rate was 0.37% in September 2026.
- Banked: 94% of adults had a bank account.
- Deposit products: 59% held a savings, money market or CD account.
Savings and deposit rates at a glance
| Measure | Value | Source |
|---|---|---|
| Would cover $400 with cash or equivalent | 63% | Fed SHED 2025 |
| Rainy-day savings for 3 months of expenses | 55% | Fed SHED 2025 |
| Could handle ≥$500 expense from savings only | 70% | Fed SHED 2025 |
| Adults with a bank account | 94% | Fed SHED 2025 |
| Hold savings, money market or CD | 59% | Fed SHED 2025 |
| National average savings APY | 0.37% | FDIC, Sep 2026 |
| National average money market APY | 0.63% | FDIC, Sep 2026 |
| National average interest checking APY | 0.07% | FDIC, Sep 2026 |
| National average 12-month CD APY | 1.73% | FDIC, Sep 2026 |
Emergency savings and the $400 test
1. Sixty-three percent could cover a $400 expense with cash
In the 2025 SHED, 63% of adults said they would pay a hypothetical $400 expense exclusively with cash, savings, or a credit card paid off at the next statement. The Fed calls that “cash or its equivalent.” The share was unchanged from the prior several years but down from a high of 68% in 2021.
2. Twelve percent said they could not pay the $400 expense at all
Among all adults, 12% said they would be unable to pay the expense by any means, down slightly from 13% in 2024. Others said they would put it on a credit card and pay over time (15%), borrow from friends or family (10%), sell something (7%), use a bank loan (3%), or use a payday loan, deposit advance or overdraft (2%). Respondents could select more than one approach.
3. Seventy percent could handle at least $500 from savings alone
Asked for the largest emergency expense they could handle right now using only savings, 70% of adults said at least $500. That is a larger share than the 63% who said they would pay a $400 bill with cash or its equivalent, which the Fed notes may mean some people choose other payment methods even when cash is available.
4. Eighteen percent could handle less than $100 from savings
| Largest expense handleable with savings only | Share of adults |
|---|---|
| Less than $100 | 18% |
| $100 to $499 | 12% |
| $500 to $999 | 9% |
| $1,000 to $1,999 | 11% |
| $2,000 to $4,999 | 12% |
| $5,000 or more | 38% |
Source: Federal Reserve, SHED 2025, Table 26.
5. Fifty-five percent have a three-month rainy-day fund
In 2025, 55% of adults said they had set aside money for three months of expenses in an emergency or rainy-day fund. That share was unchanged from 2024 and down from 59% in 2021. Another 15% said they could cover three months by borrowing, selling assets or drawing on other savings. Thirty percent said they could not cover three months by any of those means.
6. Rainy-day savings rise sharply with income
| Family income | Share with 3-month rainy-day savings |
|---|---|
| Less than $25,000 | 21% |
| $25,000 to $49,999 | 39% |
| $50,000 to $99,999 | 55% |
| $100,000 or more | 75% |
Source: Federal Reserve, SHED 2025, Table 27.
7. Older adults are more likely to have a cushion
Seventy-one percent of adults age 60 and older had three-month rainy-day savings, versus 37% of adults 18 to 29, 49% of adults 30 to 44, and 55% of adults 45 to 59.
8. People who finish the month with surplus cash save more
Eighty-six percent of adults who said they always had money left over at the end of the month also said they had three-month rainy-day savings. Only 13% of those who never had money left over had that cushion.
What people hold and where they bank
9. Fifty-nine percent hold a savings, money market or CD account
Across all adults, 59% reported holding a savings or money market account or a certificate of deposit. The share rose with age: 45% of adults 18 to 24, 52% of adults 25 to 54, 67% of adults 55 to 64, and 76% of adults 65 and older.
10. Ninety-four percent of adults have a bank account
The SHED banking chapter reports that 94% of adults had a bank account in 2025. Nearly all adults with income of at least $100,000 were banked, compared with 77% of adults with income under $25,000.
11. Homeownership still outranks brokerage assets for many
Sixty-three percent of adults owned a home, while 37% held stocks, bonds, ETFs or mutual funds outside a retirement account. Sixty-seven percent had a tax-preferred retirement account or a defined benefit pension.
12. Unexpected expenses are common
Fifty-nine percent of adults had at least one major unexpected expense in the prior 12 months. The most common were a major vehicle repair or replacement (30%), a major house or appliance repair (22%), and unexpected major medical expenses (21%), per the SHED executive summary.
What banks pay on deposits (FDIC national rates)
13. The national average savings rate was 0.37%
The FDIC’s September 2026 national rates table lists a deposit-weighted average 0.37% APY for savings accounts (based on the $2,500 product tier). That is the benchmark many banks cite when they say they pay “many times the national average.”
14. Money market deposit accounts averaged 0.63%
The same FDIC table puts the national money market deposit rate at 0.63% (average of the $10,000 and $100,000 product tiers). Interest checking averaged 0.07%.
15. Twelve-month CDs averaged 1.73% nationally
FDIC national CD rates for September 2026 were 1.41% (6 months), 1.73% (12 months), 1.61% (24 months), 1.36% (36 months), 1.28% (48 months) and 1.38% (60 months). Online banks on our best CDs and rate guides often pay well above those averages.
16. The savings rate cap was 4.38%
For less-than-well-capitalized banks, the FDIC’s national rate cap for non-maturity deposits in September 2026 was 4.38%, the higher of the national rate plus 75 basis points or the federal funds rate plus 75 basis points. Most well-capitalized banks are not bound by that cap when setting consumer rates.
17. Online high-yield savings still clear the national average by a wide margin
On October 7, 2026, our verified best high-yield savings refresh recorded issuer APYs from 3.10% to 4.25%, versus the FDIC’s 0.37% national savings average. On $10,000, the difference between 0.37% and 4.00% is about $363 a year before taxes (our arithmetic). Confirm today’s rate on each bank’s own page.
18. Rates are variable; CDs are the main way to lock one
Savings and money market APYs can change at any time. A CD locks the APY for its term once you open. If you need the cash for emergencies, start with a verified high-yield savings or money market account. If you can lock funds, compare dated CD tables such as our Capital One 360 CD rates guide.
How to put these numbers to work
- Build the $400 buffer first. The Fed’s $400 test is a low bar; aim next for the three-month rainy-day fund that only 55% of adults have. For the full SHED breakdown, see emergency fund statistics 2026.
- Stop earning the national average. Move cash that is earning near 0.37% into a verified high-yield savings account or money market account. Not sure which product type fits? See HYSA vs money market account.
- Separate emergency cash from locked CDs. Keep the rainy-day fund liquid; use CDs for money with a known timeline.
- Watch FDIC limits. Standard coverage is $250,000 per depositor, per insured bank, per ownership category.
- Get a rate alert. Use the signup on this page when you want a heads-up on new rate guides we publish.
Methodology and sources
- Federal Reserve Board, Report on the Economic Well-Being of U.S. Households in 2025 (SHED), Savings and Investments and Banking chapters, May 2026.
- FDIC, National Rates and Rate Caps, September 2026 (published September 21, 2026).
- Internal links for navigation: best high-yield savings, best money market accounts, best CDs, Capital One 360 CD rates. We do not cite our own pages as sources of facts.
For balances by age from the same Federal Reserve SCF, see average savings by age.
For checking accounts that pay above the national interest-checking rate, see best checking accounts.
Frequently asked questions
What is the average savings account interest rate in 2026?
The FDIC's national average savings rate was 0.37% in its September 2026 update, based on deposit-weighted data as of the end of the prior month. The national money market deposit rate was 0.63%. Top online high-yield savings accounts pay several points above those averages, so compare specific banks.
What share of adults have emergency savings?
In the Federal Reserve's 2025 Survey of Household Economics and Decisionmaking, 55% of adults said they had rainy-day savings that could cover three months of expenses. That share was unchanged from 2024 but down from 59% in 2021.
Can most Americans cover a $400 emergency?
Sixty-three percent of adults said they would cover a hypothetical $400 expense using only cash, savings, or a credit card paid off at the next statement, per the Fed's 2025 SHED. That share was unchanged from the prior three years but down from 68% in 2021.
What share of adults have a bank account?
Ninety-four percent of adults had a bank account in the 2025 SHED. Nearly all adults with income of at least $100,000 were banked, compared with 77% of adults with income under $25,000.
How much of an emergency can people handle with savings alone?
Seventy percent of adults said they could pay an expense of at least $500 using only their current savings, per the 2025 SHED. Eighteen percent said the largest expense they could handle with savings alone was under $100.
Do most people hold money in savings or CDs?
Fifty-nine percent of adults said they held a savings or money market account or a certificate of deposit in the 2025 SHED. That share rose with age, from 45% among adults 18 to 24 to 76% among adults 65 and older.