Business Wire·Apr 15, 2026, 10:23 AM ET

Americans Determined to Grow Savings with Tax Refunds, Santander Bank Survey Finds

76% of Americans identify saving more as their top financial goal for 2026.
88% of consumers expecting a tax refund plan to save at least a portion of it.
58% of consumers intend to place tax refunds in low-yield accounts like checking or traditional savings, missing potential growth.
Using a High Yield Savings account or CD for tax refunds can generate nearly 10 times more interest than using a traditional savings account over three years.
Santander Bank reported that consumers added to savings more frequently in Q4 2025 compared to Q4 2024.
57% of consumers expect additional money inflows in 2026 from sources such as tax refunds or bonuses.
85% of those expecting a refund anticipate receiving $500 or more, with 41% expecting $2,000 or more.
The survey of 2,278 American adults was conducted by Morning Consult between December 22–29, 2025.
Openbank by Santander currently offers a High Yield Savings account with a 4.00% APY as of April 15, 2026.
Over 90% of High Yield Savings account owners report the accounts are easy to open & would recommend them to others.