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Savings Rates | Find the Best Savings Rates TodayBest 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.
Institution
APY
Rate
Min. Deposit
Comments
09/29/2016
09/29/2016
09/29/2016
09/29/2016
09/29/2016
Ally Bank ★★★★ (4 out of 5) 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) 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) 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) 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) 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) 0.05% MMA with BBVA Compass
0.050%
09/29/2016
0.050%
$25.00
EverBank ★★★ (3 out of 5) 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) 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) 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) 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) 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) 1% MMA with California First National Bank
1.000%
09/29/2016
1.000%
$5,000.00
Pacific National Bank ★★★★ (4 out of 5) 1% MMA with Pacific National Bank
1.000%
09/29/2016
1.000%
$100.00
Radius Bank ★★★ (3 out of 5) 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) 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) 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) 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) 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) 0.9% Savings with Pacific National Bank
0.900%
09/29/2016
0.900%
$100.00
Colorado Federal Savings Bank ★★★ (3 out of 5) 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) 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) 0.81% Savings with EH National Bank
0.810%
09/29/2016
0.810%
$1,000.00
Discover Bank ★★★★★ (5 out of 5) 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) 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) 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) 0.75% Savings with Capital One 360
0.750%
09/29/2016
0.750%
$0.00
VirtualBank ★★★★ (4 out of 5) 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) 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) 0.5% MMA with AloStar Bank of Commerce
0.500%
09/29/2016
0.500%
$1,000.00
giantbank.com ★★★★ (4 out of 5) 0.45% MMA with giantbank.com
0.450%
09/29/2016
0.450%
$1,000.00
State Farm Bank ★★★★ (4 out of 5) 0.3% MMA with State Farm Bank
0.300%
09/29/2016
0.300%
$1,000.00
Goldwater Bank ★★★★ (4 out of 5) 0.26% MMA with Goldwater Bank
0.260%
09/29/2016
0.260%
$1,000.00
NewDominion Bank ★ (1 out of 5) 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) 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) 0.1% MMA with 5 Star Bank
0.100%
09/29/2016
0.100%
$1,000.00
Applied Bank ★★★★★ (5 out of 5) 0.1% Savings with Applied Bank
0.100%
09/29/2016
0.100%
$100.00
State Farm Bank ★★★★ (4 out of 5) 0.1% Savings with State Farm Bank
0.100%
09/29/2016
0.100%
$100.00
Astoria Bank ★★★ (3 out of 5) 0.05% Savings with Astoria Bank
0.050%
09/29/2016
0.050%
$500.00
Astoria Bank ★★★ (3 out of 5) 0.05% MMA with Astoria Bank
0.050%
09/29/2016
0.050%
$2,500.00
Citizens Trust Bank ★★★ (3 out of 5) 0.05% MMA with Citizens Trust Bank
0.050%
09/29/2016
0.050%
$100.00
Citizens Trust Bank ★★★ (3 out of 5) 0.05% Savings with Citizens Trust Bank
0.050%
09/29/2016
0.050%
$1,000.00
USAA ★★★★★ (5 out of 5) 0.05% Savings with USAA
0.050%
09/29/2016
0.050%
$25.00
USAA ★★★★★ (5 out of 5) 0.05% MMA with USAA
0.050%
09/29/2016
0.050%
$10,000.00
Applied Bank ★★★★★ (5 out of 5) 0.02% MMA with Applied Bank
0.020%
09/29/2016
0.020%
$500.00
Popular Direct ★★★★★ (5 out of 5) 1.26% Savings with Popular Direct
1.260%
09/27/2016
1.250%
$5,000.00
We keep it simple and transparent
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. 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
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.
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
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. 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:
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. |
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Banking ArticlesSavers Will Have to Wait Until December for Higher RatesOnline Savings Rates Report August 10, 2016Online Savings Rate and Online Money Market Rate Report for July 13, 2016Barclays Bank Online Savings Account Rate and ReviewSynchrony Financial Bank Online Savings Account ReviewFOMC Meets Next Week, Rate Hike UnlikelyOnline Variable Deposit Rate Report for March 22, 2016Online Savings and Money Market Rate Report for March 3, 2016Best Variable Deposit Rates for February 9, 2016January 20, 2016 Savings and Money Market Rate ReportSavings Rate and MMA Rate Report for January 10, 20161/3/16 Savings and MMA Rate ReportLook for Higher Savings Rates Right After the Fed Fund Rate IncreaseSavings Rate Report for November 17, 20151.12% – New Top Savings Rate from North American Savings BankCurrent Deposit Rates – Top Savings at 1.10% – Top MMA at 1.11%10/5/15 Savings Rates – Top Rate Remains at 1.10% APY1.10% APY – Top Rate – Dime Direct Money Market RateVariable Deposit Rates Unchanged as CD Rates Move HigherTop Savings Rate at 1.25%, Top MMA Rate at 1.10%Top Deposit Rates – July 10, 2015 – Best Savings Rate at 1.25 PercentVariable Deposit Rates Report June 2, 2015Weekly Deposit Rate Report May 16, 2015Current Week’s Top Variable Deposit RatesLackluster Jobs Report May Delay Higher Savings RatesCurrent Variable Deposit Rates Remain Stable as FOMC Gives Clues on Rate IncreaseMoney Market Rates Steady as Fed Officials Debate Rate HikeLook for Higher Savings/MMA Rates After FOMC’s June or September MeetingWe are Only Months Away from Higher Bank Rates2014 Year End Variable Interest Rates and Outlook for 2015Deposit Rates Will Continue Moving Higher in 2015Best Savings Rates Increase as Fed is Poised to Send Rates Higher in 2015Best Deposit Rates Hold Stable as Fed’s Fisher Hints at Higher Rates Sooner than LaterBest Savings Rate Now at 1.27% from The Palladian PrivateBankHigher Deposit Rates – 1.01% APY Top Money Market RateArchivesBank CD RatesCD Rates Savings Accounts Mortgage Rates Banking ResourcesCD (Certificate of Deposit) Rates |
