This Week’s Average Savings Account Rates and Highest Savings Account Rates
savings account rates remained unchanged this week at 1.04 percent. The Federal Deposit Insurance Corporation's weekly National Savings Rate also remained unchanged this week. The best savings account rates are just above 1.00 percent at 1.04 percent. CIT Bank savings account rates are currently at 1.04 percent with an APY of 1.05 percent.
The FDIC's national average savings account rate is at 0.08 percent, less than one twelfth CIT Bank's rate. Jumbo savings account rates in the FDIC survey this week are also at 0.08 percent which is telling because banks used to offer better rates on jumbo accounts than regular accounts.
Highest Savings Account Rates
Money market account rates this week were also unchanged in the FDIC survey. Current money market rates are averaging 0.12 percent for the week ending October 9, 2012. Jumbo money market account rates also remained unchanged this week at 0.18 percent.
The highest money market account rates available are also many times the FDIC national average. The best money market rate on our list right now is from two different banks. Union Federal Savings Bank and Sallie Mae Bank are both offering money market rates at 1.04 percent with an APY of 1.05 percent. These two banks are offering rates more than eight times the FDIC average money market rate.
Best Money Market Account Rates
Every week we list the best interest rates on both savings accounts and money market accounts. If you know of a better rate on either type of account please contact us so we can all benefit.
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