1/3/16 Savings and MMA Rate Report

While we haven't seen any new highs for deposit rates since the Fed increased the fed funds rate last month, that may change. The Fed is scheduled to meet again at the end of January and might hike the federal funds rate again.

The current fed funds rate is set between 0.25 percent and 0.50 percent. The next hike will bring the rate into a range between 0.50 percent and 0.75 percent. When the increase happens, hopefully financial institutions will increase variable deposit rates. Listed below all current savings rates and MMA rates for the first week of 2016.

Current Savings Rates

• Radius Bank 1.09% APY 1.10%
• The Palladian PrivateBank 0.90% APY 1.10%
• Synchrony Bank 1.04% APY 1.05%
• GE Capital Bank1.04% APY 1.05%
• Barclays Bank 1.00% APY 1.00%
• Ally Bank 1.00% APY 1.00%
• iGObanking.com 1.00% APY 1.00%
• My Savings Direct 1.00% APY 1.00%
• CIT Bank 0.99% APY 1.00%

Current Money Market Rates

• EverBank 0.61% APY 1.11%
• Dime Savings Bank of Williamsburgh 1.09% APY 1.10%
• Northeast Bank 1.09% APY 1.10%
• iGObanking.com 1.09% APY 1.10%
• ableBanking 1.00% APY 1.00%
• Sallie Mae Bank 0.90% APY 0.90%
• Ally Bank 0.85% APY 0.85%
• Mutual of Omaha Bank 0.85% APY 0.85%
• Synchrony Bank 0.85% APY 0.85%
• MyCBB 0.83% APY 0.83%

You can check on the most up to date rates by searching our variable deposit rate lists at Savings/MMA Rates.