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Best Savings Rates | Get the Highest Savings Rates by Comparing Rates Below
 

Savings Rates | Find the Best Savings Rates Today

Best Savings Rates

| Get the Highest Savings Rates Below
Compare the highest savings account rates by using our savings account rates and money market rates list below. We maintain a list of the best savings account rates from local banks and national banks to make your search for the highest rates easier. There is no need to look anywhere else for current interest rates from many different banks.
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APY
Rate
Min. Deposit
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Colorado Federal Savings Bank

  (3 out of 5)
Savings
0.850%
10/23/2014
0.850%
$2,500.00
 
Mutual of Omaha Bank

  (4 out of 5)
MMA
0.850%
10/23/2014
0.850%
$5,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
FNBO Direct

  (4 out of 5)
Savings
0.750%
10/23/2014
0.750%
$1.00
Cashback savings where you shop with MyDeals on your check card 
Union Federal Savings Bank

  (5 out of 5)
MMA
0.750%
10/23/2014
0.750%
$2,500.00
 
Fultdirect.com

  (4 out of 5)
MMA
0.100%
10/23/2014
0.100%
$10,000.00
 
My Savings Direct

  (2 out of 5)
Savings
1.050%
10/23/2014
1.040%
$1.00
No Fees! No Minimums! 
ableBanking, a division of Northeast Bank

  (4 out of 5)
MMA
1.020%
10/23/2014
1.020%
$250.00
$25 New Customer Gift to give to charity (501c3). FDIC insured. 
EverBank

  (4 out of 5)
MMA
1.010%
10/23/2014
0.610%
$1,500.00
Earn a top 5% yield- always! Open an Account today. FDIC insured. 
Discover Bank

  (5 out of 5)
Savings
0.850%
10/23/2014
0.850%
$500.00
Grow your savings faster with a rate 5x the National Savings Avg* 
First Trade Union Bank

  (4 out of 5)
Savings
0.850%
10/23/2014
0.850%
$2,500.00
 
EH National Bank

  (3 out of 5)
MMA
0.800%
10/23/2014
0.800%
$1,000.00
 
First Internet Bank of Indiana

  (4 out of 5)
MMA
0.800%
10/23/2014
0.800%
$100.00
 
TIAA Direct

  (4 out of 5)
MMA
0.800%
10/23/2014
0.790%
$25.00
TIAA-CREF Trust Company, FSB. Member FDIC 
TIAA Direct

  (4 out of 5)
Savings
0.800%
10/23/2014
0.790%
$25.00
TIAA-CREF Trust Company, FSB. Member FDIC 
Bank of Internet USA

  (4 out of 5)
MMA
0.750%
10/23/2014
0.750%
$100.00
FDIC Insured Nationwide Banking 
Discover Bank

  (5 out of 5)
MMA
0.700%
10/23/2014
0.700%
$2,500.00
Easy cash access and always great rates. Open an account today! 
VirtualBank

  (4 out of 5)
MMA
0.650%
10/23/2014
0.650%
$100.00
FDIC Insured 
Bank of Internet USA

  (4 out of 5)
Savings
0.610%
10/23/2014
0.610%
$100.00
High Yield Savings Account, Apply Online Now! FDIC Insured 
First Internet Bank of Indiana

  (4 out of 5)
Savings
0.600%
10/23/2014
0.600%
$100.00
 
Lone Star Bank

  (2 out of 5)
MMA
0.600%
10/23/2014
0.600%
$2,500.00
 
EH National Bank

  (3 out of 5)
Savings
0.550%
10/23/2014
0.550%
$1,000.00
 
AloStar Bank of Commerce

  (4 out of 5)
Savings
0.500%
10/23/2014
0.500%
$50.00
 
AloStar Bank of Commerce

  (4 out of 5)
MMA
0.500%
10/23/2014
0.500%
$1,000.00
 
California First National Bank

  (5 out of 5)
MMA
0.500%
10/23/2014
0.500%
$5,000.00
 
Lone Star Bank

  (2 out of 5)
Savings
0.500%
10/23/2014
0.500%
$200.00
 
giantbank.com

  (4 out of 5)
MMA
0.450%
10/23/2014
0.450%
$1,000.00
 
Intervest National Bank

  (4 out of 5)
Savings
0.300%
10/23/2014
0.300%
$100.00
$500 min bal to avoid fees 
Intervest National Bank

  (4 out of 5)
MMA
0.300%
10/23/2014
0.300%
$2,500.00
 
State Farm Bank

  (4 out of 5)
MMA
0.300%
10/23/2014
0.300%
$1,000.00
 
Goldwater Bank

  (1 out of 5)
MMA
0.260%
10/23/2014
0.260%
$1,000.00
 
Heritage Bank

  (4 out of 5)
Savings
0.250%
10/23/2014
0.250%
$1,000.00
 
E-LOAN

  (5 out of 5)
MMA
0.200%
10/23/2014
0.200%
$5,000.00
No Fees. Start earning interest now! 
Third Federal Savings and Loan

  (4 out of 5)
Savings
0.200%
10/23/2014
0.200%
$25,000.00
 
Fidelity Bk of FL, N.A

  (3 out of 5)
MMA
0.150%
10/23/2014
0.150%
$2,500.00
 
NewDominion Bank

  (1 out of 5)
MMA
0.150%
10/23/2014
0.150%
$500.00
Achieve Rapid Growth Results w/Our Rates! Open Online-Member FDIC 
State Farm Bank

  (4 out of 5)
Savings
0.120%
10/23/2014
0.120%
$100.00
 
5 Star Bank

  (4 out of 5)
MMA
0.100%
10/23/2014
0.100%
$1,000.00
 
American Bank

  (4 out of 5)
Savings
0.100%
10/23/2014
0.100%
$100.00
 
American Bank

  (4 out of 5)
MMA
0.100%
10/23/2014
0.100%
$100.00
 
USAA

  (5 out of 5)
Savings
0.100%
10/23/2014
0.100%
$25.00
 
USAA

  (5 out of 5)
MMA
0.100%
10/23/2014
0.100%
$10,000.00
 
Astoria Bank

  (3 out of 5)
Savings
0.050%
10/23/2014
0.050%
$500.00
 
Astoria Bank

  (3 out of 5)
MMA
0.050%
10/23/2014
0.050%
$2,500.00
 
Citizens Trust Bank

  (3 out of 5)
MMA
0.050%
10/23/2014
0.050%
$100.00
 
Citizens Trust Bank

  (3 out of 5)
Savings
0.050%
10/23/2014
0.050%
$1,000.00
 
iGObanking.com

  (3 out of 5)
Savings
1.000%
10/20/2014
1.000%
$1.00
36 month CD 1.40% APY*,FDIC insured, open online or by mail. 
iGObanking.com

  (3 out of 5)
MMA
0.900%
10/20/2014
0.900%
$25,000.00
36 month CD 1.40% APY*,FDIC insured, open online or by mail. 

Data Provided by Bankrate.com Rates were collected by Bankrate.com on the dates specified. Rates are subject to change without notice and may vary from branch to branch. Bankrate.com National APY Average and Bankrate.com Site APY Average are only available for MMA products in any denomination exclusively. For Savings products, neither national nor Bankrate APY averages are tabulated. For MMA & Savings products in any denomination, the presented Bankrate.com National APY Average and Bankrate.com Site APY Average are averages of the MMA products only, and are not inclusive of Savings products APY rates.

These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site, where you can find additional information. Bank and thift deposits are insured by the Federal Deposit Insurance Corp. Credit Union deposits are insured by the National Credit Union Administration. Many institutions have different rates on their own Websites than those posted on Bankrate.com. Please identify yourself as a Bankrate consumer to lenders to ensure you get the Bankrate.com rate. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please let us know.

Bankrate.com's Safe & Sound® service provides ratings information on the relative financial strength and stability of U.S. commercial banks, savings institutions and credit unions. Five stars is superior, one star is lowest rated. For more information click here.



The best deposit account rates are stable this week, both savings rates and money market rates remain around 1.00 percent. CD rates on the other hand, are heading higher, as banks and credit unions look to lock in deposits at lower rates before the Federal Reserve drives rates higher.

Speaking of the Fed, one Fed official, Richard Fisher, president of the Federal Reserve Bank of Dallas, said on Thursday that rates might rise sooner than later. Fisher said the following below the rate table:

It’s assumed in the market place that we’ll start our liftoff in raising interest rates some time between the spring and the summer. I won’t say what we’re saying internally, that would not be appropriate, but maybe sooner rather than later.

Whether or not Fisher is right remains to be seen, but one thing is for sure, interest rates are headed higher in 2015. Therefore, it makes sense to either stay invested in variable rate accounts, like savings accounts or money market accounts. Another option is staying invested in shorter term certificates of deposit.

Listed below are the highest savings rates, money market rates and 3 to 6 month CD rates:

Savings Rates

  • My Savings Direct 1.05% APY ($1.00 min)
  • iGObanking.com 1.00% APY ($25,000 min)
  • Synchrony Bank Optimizer Plus 0.95% ($0.00 min)
  • GE Capital Bank 0.95% ($0.00 min)
  • CIT Bank 0.95% ($25,000 min)
  • Ally Bank 0.90%  ($0.00 min)
  • Barclays Bank 0.90%  ($0.00 min)
  • Colorado Federal Savings Bank 0.90% APY ($2,500 min)
  • Discover Bank 0.85% ($500 min)
  • American Express Bank 0.80% APY ($0.00 min)
  • TIAA Direct 0.80% APY ($25.00 min)

Money Market Rates

  • ableBanking, a division of Northeast Bank 1.02% APY ($250.00 min)
  • EverBank 1.01% APY ($1,500 min)
  • Synchrony Bank Optimizer Plus 0.85% ($0.00 min)
  • Ally Bank 0.85%  ($0.00 min)
  • Mutual of Omaha Bank 0.85% ($5,000 min)
  • TIAA Direct 0.80% APY ($25.00 min)
  • Union Federal Savings Bank 0.75% ($2,500 min)

3 Month CD Rates

  • First Internet Bank of Indiana 0.45% APY ($1,000 min)
  • Pacific Mercantile Bank 0.43% APY ($1,000 min)
  • EverBank 0.40% ($1,500 min)
  • BankDirect 0.40% APY ($10,000 min)
  • Pacific Mercantile Bank 0.40% APY ($10,000 min)

6 Month CD Rates

  • Doral Direct 0.87% APY ($500)
  • Chartway Federal Credit Union 0.85% APY ($10,000 min)
  • EH National Bank 0.80% APY ($10,000 min)
  • ableBanking, a division of Northeast Bank 0.70% APY ($1,000)
  • GE Capital Bank 0.70% APY ($500 min)
  • My e-BAnC by BAC Florida Bank 0.70% APY ($500 min)

 

Author: Brian McKay
September 25th, 2014

We have a new top savings rate on our rate list this week. The Palladian PrivateBank savings account rate is at 1.26 percent with an APY of 1.27 percent. The Palladian PrivateBank’s rate is 32 basis points higher than our old top rate at 0.95 percent. View all savings account rates and money market rates on our rate list: Best Savings Rates.

Author: Brian McKay
September 10th, 2014

Higher deposit rates are looking more and more likely. The latest economic news released yesterday showed underlying inflationary pressures that might force the Federal Open Market Committee to vote for a higher federal funds rate sooner than later. Since banks tie money market account rates and savings rates to the fed funds rate, deposit rates will also move higher.

The Bureau of Labor Statics released a report showing the Consumer Price Index Increased 0.3 percent in June. The last 12 months the CPI index increased 2.1 percent, which is the highest point the rate has been in many years. The CPI report, combined with a strong unemployment report which showed the unemployment rate at the lowest point since 2007, will all force rates higher.

We are now forecasting for a higher federal funds rate in the first 3 months of 2015. There is a small chance the rate will be increased in the final quarter of 2014. By the summer of 2015, the fed funds rate will probably be above 1.00 percent. Savings rates and money market rates will be around 2.00 percent.

Listed below are current savings rates and money market rates for July 23, 2014:

Best Savings Rates

  • Synchrony Bank 0.95%
  • CIT Bank 0.95%
  • GE Capital Bank 0.90%
  • Barclays Bank 0.90%
  • The Palladian Private Bank 0.90% APY
  • Ally Bank 0.87% APY

Best Money Market Rates

  • EverBank 1.01%
  • Sallie Mae 0.90%
  • iGoBanking.com 0.90%
  • Synchrony Bank 0.85%
  • Ally Bank 0.85%
  • Mutual of Omaha Bank 0.85% APY
  • Union Federal Savings Bank 0.85% APY

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Best Savings Rates

Author: Brian McKay
July 23rd, 2014

A stronger than expected employment report for the month of June will add pressure to the Federal Reserve to increase the fed funds rate sooner in 2015. More jobs were created in the month of June and the unemployment rate fell to 6.1 percent, the lowest point in over 5 years. The general consensus has been the Fed will increase the fed funds rate sometime in the second or third quarter of 2015, but it might happen sooner.

Federal Reserve President James Bullard recently commented that the increase in the fed funds rate should happen sooner than later. Bullard said the “U.S. unemployment rate will fall below 6 percent and inflation will likely rise to 2 percent later this year, putting the economy closer to “normal” sooner than most people realize.”

The current fed funds rate is near zero percent and has been at that point for over 5 years now. This Fed policy has sent deposit rates down to record lows. Average savings rates are at 0.06 percent and average money market rates are at 0.08 percent. The best savings rates at 0.95 percent and the best money market rates are at 1.01 percent.

When the Fed increases the federal funds rate banks will increase deposit rates sooner after. Some banks have already increased savings rates, money market rates, and CD rates in anticipation of a higher fed funds rate. The increases haven’t been small but at least rates are headed higher. When the fed funds rate moves higher that is when bigger increases in deposit rates will take place.

The Fed’s forecasts for the fed funds rate is as high as 3.00 percent by the end of 2015. A 3 percent fed funds rate will force banks to increase savings rates and money market rates to the 3.50 percent to 4.00 percent range. 1 year CD rates would probably be increased to over 4.00 percent. Rates we haven’t seen for more than 6 years now.

Listed below are this week’s highest savings rates and money market account rates:

Highest Savings Account Rates

  • Synchrony Bank Optimizer +Plus 0.95% APY
  • CIT Bank 0.95% APY
  • GE Capital Bank 0.90% APY
  • Barclays Bank 0.90% APY
  • The Palladian Private Bank 0.90% APY
  • Ally Bank 0.87% APY
  • Colorado Federal Savings Bank 0.85% APY
  • FNBO Direct 0.85% APY
  • Discover Bank 0.85% APY
  • American Express Bank 0.80% APY
  • TIAA Direct 0.80% APY
  • Bank of Internet USA 0.61% APY

Highest Money Market Rates

  • EverBank 1.01% APY
  • Sallie Mae 0.90% APY
  • iGoBanking.com 0.90% APY
  • Ally Bank 0.85% APY
  • Synchrony Bank 0.85% APY
  • Mutual of Omaha Bank 0.85% APY
  • Union Federal Savings Bank 0.85% APY
  • TIAA Direct 0.80% APY
  • First Internet Bank of Indiana 0.80% APY
  • ableBanking, a division of Northeast Bank 0.80% APY
  • EH National Bank 0.80% APY

 

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Best Savings Rates

Author: Brian McKay
July 11th, 2014

The highest rates for June 28, 2014, remain the same as last week’s best rates. Any across the board increases in interest rates will have to wait until the Federal Reserve increases the fed funds rate, which isn’t expected to happen until sometime in 2015. Below are this week’s top FDIC insured deposit rates for savings accounts and money market accounts.

Highest Savings Account Rates

  • Synchrony Bank Optimizer +Plus 0.95% APY
  • CIT Bank 0.95% APY
  • GE Capital Bank 0.90% APY
  • Barclays Bank 0.90% APY
  • The Palladian PrivateBank 0.90% APY
  • Ally Bank 0.87% APY
  • Colorado Federal Savings Bank 0.85% APY
  • FNBO Direct 0.85% APY
  • Discover Bank 0.85% APY
  • American Express Bank 0.80% APY
  • Bank of Internet USA 0.61% APY
  • TIAA Direct 0.60% APY
  • First Internet Bank of Indiana 0.60% APY

Highest Money Market Rates

  • EverBank 1.01% APY
  • Sallie Mae 0.90% APY
  • iGoBanking.com 0.90% APY
  • Ally Bank 0.85% APY
  • Synchrony Bank 0.85% APY
  • Mutual of Omaha Bank 0.85% APY
  • Union Federal Savings Bank 0.85% APY
  • First Internet Bank of Indiana 0.80% APY
  • ableBanking, a division of Northeast Bank 0.80% APY
  • Bank of Internet USA 0.75% APY
  • Discover Bank 0.70% APY
  • EH National Bank 0.70% APY
  • VirtualBank 0.65% APY
  • TIAA Direct 0.60% APY
  • Alostar Bank of Commerce 0.60% APY

Related Posts:

Best Savings Rates | Get Get the Highest Savings Rates Below

Best Savings Rates

Author: Brian McKay
June 28th, 2014