High-yield savings accounts remain less familiar to many Americans.

A LendingClub-commissioned Talker Research survey of 2,000 Americans found limited familiarity with high-yield savings accounts (30%) and that 43% of respondents do not know their savings account interest rate.

Most Americans have some form of savings account, but a new LendingClub-commissioned survey suggests many are unsure how their money grows. The Talker Research poll of 2,000 people found 89% are familiar with at least one savings account type, while familiarity with high-yield savings accounts (30%), 529 education accounts (18%) and cash management accounts (13%) was lower. The study also reports that 79% have a savings account collecting interest, yet 43% do not know their interest rate. Respondents expressed common misconceptions about how interest rates work and varied uses for savings accounts. Key findings: - Familiarity: 71% know standard savings accounts, 51% know retirement accounts, 45% know CDs, and 34% know HSAs, while HYSAs registered 30% familiarity. - Interest awareness: 79% have savings collecting interest, but 43% do not know their account's interest rate. - Misconceptions: 68% believe they must hold more money to earn a higher rate, and 41% assume banks offer roughly the same rate. - Informal savings: 54% report having an emergency or rainy-day fund separate from savings, and 74% of those feel they have a "good amount" saved for unexpected events. - Account behavior: CD holders have averaged 11 years with their accounts (opening at age 46) and 67% said they feel better about their finances; 59% plan to open another CD when one matures. - Contribution patterns: Standard savings and HYSAs both see about 18 contributions per year on average; HYSA holders were more likely (82%) to know their interest rate compared with standard savings holders (57%). Summary: The survey highlights gaps in familiarity and interest-rate awareness across several savings products, with lower recognition of high-yield and cash management accounts. Many respondents reported behaviors and intentions—including plans to save more in 2026 and willingness to contribute more if rates were higher—while the broader implications for saving patterns are undetermined at this time.