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Best Savings Rates
 

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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Ally Bank

★★★★  (4 out of 5)100
1% Savings with Ally Bank
1.000%
09/29/2016
1.000%
$0.00
Open an Account Today. Member FDIC. 
UFB Direct

★★★★  (4 out of 5)100
1% Savings with UFB Direct
1.000%
09/29/2016
1.000%
$25,000.00
High Yield Savings Account, Apply Online Now! FDIC Insured 
FNBO Direct

★★★★  (4 out of 5)100
0.95% Savings with FNBO Direct
0.950%
09/29/2016
0.950%
$1.00
Cashback savings where you shop with MyDeals on your check card 
Ally Bank

★★★★  (4 out of 5)100
0.85% MMA with Ally Bank
0.850%
09/29/2016
0.850%
$0.00
Open an Account Today. Member FDIC. 
Mutual of Omaha Bank

★★★★  (4 out of 5)100
0.35% MMA with Mutual of Omaha Bank
0.350%
09/29/2016
0.350%
$1,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
BBVA Compass

★★★★  (4 out of 5)100
0.05% MMA with BBVA Compass
0.050%
09/29/2016
0.050%
$25.00
 
EverBank

★★★  (3 out of 5)100
1.11% MMA with EverBank
1.110%
09/29/2016
0.610%
$1,500.00
Earn a top 5% yield- always! Open an Account today. FDIC insured. 
Dime Community Bank

★★★★  (4 out of 5)100
1.1% MMA with Dime Community Bank
1.100%
09/29/2016
1.090%
$1,000.00
Easy to open and manage. FDIC-insured. 
iGObanking.com

★★★  (3 out of 5)100
1.1% MMA with iGObanking.com
1.100%
09/29/2016
1.090%
$25,000.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
AloStar Bank of Commerce

★★★★  (4 out of 5)100
1.05% Savings with AloStar Bank of Commerce
1.050%
09/29/2016
1.040%
$50.00
 
Goldman Sachs Bank USA

★★★★★  (5 out of 5)100
1.05% Savings with Goldman Sachs Bank USA
1.050%
09/29/2016
1.040%
$0.00
 
California First National Bank

★★★★  (4 out of 5)100
1% MMA with California First National Bank
1.000%
09/29/2016
1.000%
$5,000.00
 
Pacific National Bank

★★★★  (4 out of 5)100
1% MMA with Pacific National Bank
1.000%
09/29/2016
1.000%
$100.00
 
Radius Bank

★★★  (3 out of 5)100
1% Savings with Radius Bank
1.000%
09/29/2016
1.000%
$10.00
Rate for balances $2500+ 
ableBanking, a division of Northeast Bank

★★★★  (4 out of 5)100
1% MMA with ableBanking, a division of Northeast Bank
1.000%
09/29/2016
1.000%
$250.00
$25 New Customer Gift to give to charity (501c3). FDIC insured. 
iGObanking.com

★★★  (3 out of 5)100
1% Savings with iGObanking.com
1.000%
09/29/2016
1.000%
$1.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
CIT Bank

  (NR out of 5)100
0.95% Savings with CIT Bank
0.950%
09/29/2016
0.950%
$100.00
Received Five-Star BauerFinancial Star Rating(TM). Member FDIC. 
Discover Bank

★★★★★  (5 out of 5)100
0.95% Savings with Discover Bank
0.950%
09/29/2016
0.950%
$500.00
Grow your savings faster with a rate 5x the National Savings Avg* 
Pacific National Bank

★★★★  (4 out of 5)100
0.9% Savings with Pacific National Bank
0.900%
09/29/2016
0.900%
$100.00
 
Colorado Federal Savings Bank

★★★  (3 out of 5)100
0.85% Savings with Colorado Federal Savings Bank
0.850%
09/29/2016
0.850%
$2,500.00
 
My Savings Direct

★★★★  (4 out of 5)100
0.85% Savings with My Savings Direct
0.850%
09/29/2016
0.850%
$1.00
No Fees! No Minimums! 
EH National Bank

  (1 out of 5)100
0.81% Savings with EH National Bank
0.810%
09/29/2016
0.810%
$1,000.00
 
Discover Bank

★★★★★  (5 out of 5)100
0.8% MMA with Discover Bank
0.800%
09/29/2016
0.800%
$2,500.00
Easy cash access and always great rates. Open an account today! 
EH National Bank

  (1 out of 5)100
0.8% MMA with EH National Bank
0.800%
09/29/2016
0.800%
$1,000.00
 
First Internet Bank of Indiana

★★★★  (4 out of 5)100
0.8% MMA with First Internet Bank of Indiana
0.800%
09/29/2016
0.800%
$100.00
 
Capital One 360

★★★★★  (5 out of 5)100
0.75% Savings with Capital One 360
0.750%
09/29/2016
0.750%
$0.00
 
VirtualBank

★★★★  (4 out of 5)100
0.65% MMA with VirtualBank
0.650%
09/29/2016
0.650%
$100.00
FDIC Insured 
First Internet Bank of Indiana

★★★★  (4 out of 5)100
0.6% Savings with First Internet Bank of Indiana
0.600%
09/29/2016
0.600%
$100.00
 
AloStar Bank of Commerce

★★★★  (4 out of 5)100
0.5% MMA with AloStar Bank of Commerce
0.500%
09/29/2016
0.500%
$1,000.00
 
giantbank.com

★★★★  (4 out of 5)100
0.45% MMA with giantbank.com
0.450%
09/29/2016
0.450%
$1,000.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.3% MMA with State Farm Bank
0.300%
09/29/2016
0.300%
$1,000.00
 
Goldwater Bank

★★★★  (4 out of 5)100
0.26% MMA with Goldwater Bank
0.260%
09/29/2016
0.260%
$1,000.00
 
NewDominion Bank

  (1 out of 5)100
0.15% MMA with NewDominion Bank
0.150%
09/29/2016
0.150%
$500.00
Achieve Rapid Growth Results w/Our Rates! Open Online-Member FDIC 
Third Federal Savings and Loan

★★★★  (4 out of 5)100
0.15% Savings with Third Federal Savings and Loan
0.150%
09/29/2016
0.150%
$25,000.00
 
5 Star Bank

★★★★  (4 out of 5)100
0.1% MMA with 5 Star Bank
0.100%
09/29/2016
0.100%
$1,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.1% Savings with Applied Bank
0.100%
09/29/2016
0.100%
$100.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.1% Savings with State Farm Bank
0.100%
09/29/2016
0.100%
$100.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% Savings with Astoria Bank
0.050%
09/29/2016
0.050%
$500.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% MMA with Astoria Bank
0.050%
09/29/2016
0.050%
$2,500.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% MMA with Citizens Trust Bank
0.050%
09/29/2016
0.050%
$100.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% Savings with Citizens Trust Bank
0.050%
09/29/2016
0.050%
$1,000.00
 
USAA

★★★★★  (5 out of 5)100
0.05% Savings with USAA
0.050%
09/29/2016
0.050%
$25.00
 
USAA

★★★★★  (5 out of 5)100
0.05% MMA with USAA
0.050%
09/29/2016
0.050%
$10,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.02% MMA with Applied Bank
0.020%
09/29/2016
0.020%
$500.00
 
Popular Direct

★★★★★  (5 out of 5)100
1.26% Savings with Popular Direct
1.260%
09/27/2016
1.250%
$5,000.00
We keep it simple and transparent 

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.



Another Federal Open Market Committee (FOMC) meeting has come and gone without a fed funds rate hike. This isn’t good news for savers who have been dealing with low savings rates for almost a decade. The FOMC wrapped up their two day meeting last week and announced they would stand pat on the fed funds rate.

There was a glimmer of good news in the FOMC’s released Economic Projections. The projection for the fed funds rate at 0.60 percent in 2016 will mean one more rate hike this year. Whether or not that actually happens remains to be seen but if there is a rate hike, it would be 0.25 basis points.

A 0.25 percent fed funds rate hike will probably prod some banks and credit unions into increasing deposit rates. I don’t expect the highest savings rate on our rate list to also increase 0.25 percent. We will probably see the top rates increase around 10 basis points. 

Right now, the best savings rate on our rate list is at 1.25 percent, so we could see the top rate move towards 1.35 percent. The highest money market account rate right now is at 1.10 percent, so the highest rate would likely increase to around 1.20 percent.  

Looking past this year, the FOMC’s projections have the fed funds rate at 1.1 percent at the end of 2017 and at 1.9 percent at the end of 2018. If these projections are correct, deposit rates will move higher in the next two years but don’t expect any miracles.

A fed funds rate just above 1.00 percent would send the highest savings rates towards 2.00 percent. A fed funds rate near 2.00 percent will send the highest savings rates towards 3.00 percent. These projected rates are still low, historically speaking, but better than current rates.

Author: Brian McKay
September 27th, 2016

The best online savings account rates are still just above 1.00 percent this week. A few banks made changes to their savings rates but there were no new highs to report. Savings rates are expected to remain near current levels until the Federal Open Market Committee raises the federal funds rate.

Another FOMC meeting came and went without a fed funds rate increase late last month. The next scheduled FOMC meeting is slated for late September. As of today, the CME Group Fed Watch tool puts the probability of a rate increase at a measly 12 percent.

Outside of the September meeting, there is another meeting scheduled for October and one in December. The Fed Watch Tool puts the chance of an increase in October at 13.4 percent and at 34.3 percent in December. The way things have been going in 2016, I’m not holding my breath for another rate increase this year.

Listed below are the top 10 bank and credit union savings rates for August 10, 2016.

Top Ten Bank and Credit Union Savings Rates August 10, 2016

  • Synchrony Bank 1.04% APY 1.05%
  • AloStar Bank of Commerce 1.04% APY 1.05%
  • Goldman Sachs Bank USA 1.04% APY 1.05%
  • Barclays Bank 1.00% APY 1.00%
  • Ally Bank 1.00% APY 1.00%
  • UFB Direct 1.00% APY 1.00%
  • Quorum Federal Credit Union 1.00% APY 1.00%
  • Radius Bank 1.00% APY 1.00%
  • iGObanking.com 1.00% APY 1.00%
Author: Brian McKay
August 10th, 2016

Online savings account rates and money market account rates have been stable the past month as bond yields plummetted. This week, the best variable deposit rates are just above 1.00 percent. The top savings rate is at 1.08 percent and the top money market rate is 1.11 percent.

The Brexit vote to leave the European Union is the catalyst for tumbling bond yields across the globe. 10 year Japanese and German bond yields are actually negative. The 10 year Japanese Treasury is yielding a negative 0.285 percent and the 10 year German Bund is yielding a negative 0.127 percent.

Yields in the U.S. are slightly higher but have declined sharply in the past month. 1o year U.S. bond yields are currently at 1.47 percent. 10 year U.S. Bond yields hit an all-time record low of 1.36 percent just last week.

Deposit rates were supposed to increase in 2016 after almost a decade of low rates but is yet to happen this year. A higher federal funds rate is what is needed to have higher deposit rates. The Federal Open Market Committee increased the fed funds rate by 0.25 percent in December 2015 but hasn’t done any more increases.

The Brexit vote has created uncertainty for the markets and as a result, it’s unlikely the Fed will increase the rate in 2016. The CME Group’s Fed Watch Tool is predicting only about a 30 percent likelihood of another fed funds rate hike by December 2016. Check our rate listings to find the best deposit rates currently available: Best Deposit Rates.

 

Author: Brian McKay
July 13th, 2016

As with all U.K. Banks, Barclays Bank has been thrown a curve with the Brexit vote to leave the European Union. To reassure everyone, Barclays Group’s Chief Executive Officer, Jes Staley, released a statement, “As the UK votes to leave the EU, we will not break our stride. Our commitment to our strategy and to our customers and clients remains unchanged.” You can read the entire statement from Jes Staley.

Barclays Bank Online Savings Account currently has a rate and yield of 1.00 percent. Barclays Bank Online savings rate is 12 times the national average rate as reported by Bankrate’s most recent Passbook & Statement Savings Study. You can view a complete list of online savings rates.

Opening a Barclays Bank online savings account is easy. As with any online bank, it takes less than 10 minutes to open an account. Setting up an external account to transfer funds will take the most amount of time. 

For security reasons, test deposits are part of the external account verification process. 2 to 3 business days after you add a link to your Barclays savings account the bank will make two test deposits of less than $1.00 into your external account. The bank uses its own money for these test deposits. 

After the test deposits are made into an external account, you log into your Barclays account and report the amounts of those test deposits. After you have confirmed the test deposit amounts, you’ll be able to begin transferring money between your Barclays account and your external account. Barclays Bank’s routing/ABA number is 031101321.

Barclays Bank Online Savings Account Features

  • No minimum balance to open an account
  • No monthly maintenance fees
  • FDIC Insured up to $250,000 per depositor
  • Interest is compounded daily
  • You can setup direct deposit
  • As per federal banking law, there is a maximum of 6 withdrawals from your account per statement cycle

You can open an account online at Barclays Bank Online Savings Account. You can also speak to a Customer Care team at 888-710-8756. They are available seven days a week from 8am to 8pm ET.

Author: Brian McKay
June 29th, 2016

Synchrony Financial Bank, formerly GE Capital Retail Finance which was spun off by G.E. Capital, is offering one of the best savings rates available. The current savings rate at Synchrony Bank is 1.04 percent with an APY of 1.05 percent. The national average savings account rate is much lower at 0.54 percent.

Synchrony Financial (NYSE:SYF) has been around in one form or another since 1932. Synchrony is currently the largest provider of private credit cards in the United States with over 62 million accounts.

Though issuing 62 million accounts, it is likely you have never seen a Synchrony Financial credit card because unlike American Express, Visa and MasterCard, Synchrony is an issuer of private credit cards. In lieu of Synchrony’s name on these cards, they usually bear the names of national retailers, manufacturers, buying groups, industry associations, and groups.

Synchrony Bank is an internet-based bank without the higher cost structure of traditional brick-and-mortar banks. Because Synchrony and other internet banks have a lower cost structure, they are able to offer higher deposit rates. Besides offering a really good rate, Synchrony’s savings accounts have the following benefits:

  • Withdrawals can be made online, over the phone, or with an ATM card
  • You have access to your accounts either online with their banking portal or by speaking with one of their Banking Representatives
  • If you keep a $30 minimum balance in your savings account there are no monthly fees
  • FDIC insures up to $250,000 per depositor for each ownership category

Like any other traditional savings account that is subjected to federal regulation, you can only make a maximum of 6 withdrawals per billing cycle. Synchrony will charge you $20 for each withdrawal over the 6 you’re allowed. Make sure you don’t exceed this limit because your 1.05% yield will quickly turn into a negative yield.

On a lighter note, Synchrony has teamed up with Marvel Entertainment on a series of “Save Like A Hero Videos” that include some videos including a Mall Cop, Cookout, and other videos.

Synchrony and Marvel also have a contest going on right now. You can enter their “Save Like A Hero Contest” and be featured on Marvel Entertainment’s Facebook page and win $100 movie gift card. All you have to do is submit a photo of yourself in a homemade Team Captain America or Team Iron Man costume and say what makes you a savings hero. If you’re interested, the full contest rules can be found at Save Like A Hero Contest Official Rules

Author: Brian McKay
May 7th, 2016