Washington Savings Bank Savings Account Rates and MMA Interest Rates
Washington Savings Bank is offering one of the best savings account rates for a rewards savings account. The current Saver Rewards savings rate is 1.50% with a savings account yield of 1.51%. That rate is probably the highest savings account rate available right now from any bank or credit union.
To earn this savings rate you must also have an Interest Rewards checking account. Meeting the requirements of an Interest Rewards qualifies the Saver Rewards for a higher interest rate. The 1.50% savings rate is for account balances up to $15,000. Balances over $15 grand earn a rate and yield of 0.65%.
The rest of Washington Savings Bank's savings rates are not as high as the Savers Rewards rate, in fact the are at the very low end of all savings rates available. The bank's other savings rates are at .10% with a savings yield of 0.10%. I won't even list the accounts because I doubt you will open an account at that rate.
The bank's money market account rates are better than the savings rates. The highest money market rates are for account balances of $100,000 or more (jumbo MMA rates). The current rate and yield is 0.71%. MMA balances of $50 grand to $99,999 are currently at 0.60% with a yield of 0.60%. Balances of $25 grand to $49,999 earn a decent rate and yield of 0.50%. For balances of under $25 grand your better off putting the money in the savings account since the MMA account only earns 0.05%.
For more information about Washington Savings Bank and a list of the bank's current interest rates go to washingtonsavings.com.
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