How do New York savings rates compare to other states?

New York savings rates of 1.35% APY compare to a national average of 1.2% APY. Rates vary by state based on local market conditions, legislation, and economic factors.

Where can I find the best savings rates in New York?

Online banks and credit unions in New York typically offer rates well above the branch average of 1.35% APY.

New York Savings Rates (2026) — How It Compares to Other States

Q: What are New York savings rates in 2026?

New York savings rates are currently 1.35% APY as of January 2026. The national average is 1.2% APY. New York is above the national average.

💰 New York Savings Rates — January 2026

1.35% APY

New York Rate

1.2% APY

National Average

High-yield savings account average rate. Source: FDIC National Rate.

ℹ️ Public Data Data sourced from FDIC National Rate. Last updated January 2026.

📊 New York Financial Snapshot

Metric	New York	National Avg
Cost of Living	Rank #26 / 50	Rank #25
Estate Planning Costs	$1,500-$4,500	$1,000-$3,000
Financial Advisor Costs	$250-$450/hr	$200-$300/hr
Income Tax Rates	10.90%	5.0%
Mortgage Rates	5.20%	5.0%
Savings Rates	1.35% APY	1.2% APY
Tax Preparation Costs	$150–$350	$220

Data as of January 2026. Sources: Freddie Mac, FDIC, Tax Foundation, MERIC.

All States — Savings Rates Comparison

State	Savings Rates
Alabama	1.20% APY
Alaska	1.30% APY
Arizona	1.15% APY
Arkansas	1.18% APY
California	1.05% APY
Colorado	1.20% APY
Connecticut	1.40% APY
Delaware	1.22% APY
Florida	1.10% APY
Georgia	1.12% APY
Hawaii	0.95% APY
Idaho	1.18% APY
Illinois	1.25% APY
Indiana	1.16% APY
Iowa	1.22% APY
Kansas	1.20% APY
Kentucky	1.15% APY
Louisiana	1.12% APY
Maine	1.30% APY
Maryland	1.25% APY
Massachusetts	1.35% APY
Michigan	1.20% APY
Minnesota	1.28% APY
Mississippi	1.15% APY
Missouri	1.18% APY
Montana	1.22% APY
Nebraska	1.20% APY
Nevada	1.10% APY
New Hampshire	1.32% APY
New Jersey	1.40% APY
New Mexico	1.15% APY
→ New York	1.35% APY
North Carolina	1.15% APY
North Dakota	1.22% APY
Ohio	1.20% APY
Oklahoma	1.15% APY
Oregon	1.20% APY
Pennsylvania	1.25% APY
Rhode Island	1.32% APY
South Carolina	1.12% APY
South Dakota	1.20% APY
Tennessee	1.10% APY
Texas	1.12% APY
Utah	1.18% APY
Vermont	1.30% APY
Virginia	1.22% APY
Washington	1.20% APY
West Virginia	1.15% APY
Wisconsin	1.25% APY
Wyoming	1.20% APY

Frequently Asked Questions

What are New York savings rates in 2026?

New York savings rates are currently 1.35% APY as of January 2026. This compares to a national average of 1.2% APY.

Where can I find the best savings rate in New York?

Online banks and credit unions in New York typically offer the best savings rates. Top rates currently range up to 4.85% APY from online banks vs the branch average of 1.35% APY.

How does New York compare to the national average for savings rates?

New York's savings rates of 1.35% APY exceed the national average of 1.2% APY. This difference matters: a 1% APY difference on $10,000 in savings equals $100/year, compounding over time.

Where can I find additional New York financial resources?

For New York residents: the state government's official financial services website, the CFPB (Consumer Financial Protection Bureau) at consumerfinance.gov, and FinanceStackHub's free tools (calculators, AI health check, guides) provide free educational resources to help you make informed financial decisions.

Related Tools & Resources

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New York Savings Rates