Weekly Savings Account Rates: Updated June 17, 2009

Savings account rates were down fractionally this past week. Rates on savings accounts are so low right now they can’t decline much further. Unlike the recent rise in U.S. Treasury prices that drove mortgage rates higher the past several weeks.

I don’t anticipate savings account rates and money market account rates to increase until later this year or early next year when the economy recovers and the Feds raises rates to temper the threat of inflation.

Savings Account and money market rates for account balances of $50,000 averaged 0.684 percent this week, down from last weeks national average rate of 0.691 percent. AIG Bank is currently offering one of the best savings rates for a savings account of $50,000. The rate as of 6/17/09 is 2.01 percent. Rates change constantly so check our savings account rate tables for rates in your zip code.

Savings Account/Money Market Account Rate Tables

National average rates for money market and savings accounts for balances of $2,500 declined this week to 0.432 percent, down from last week’s national average of 0.436 percent. Bank of Internet is offering one of the best savings account rates for balances of $2,500, their savings rate is currently 2.06 percent.

Average rates for a savings account and a money market account for balances of $10,000 is at 0.532 percent this week, down from last weeks average rate of 0.537 percent. Tennesee Commerce Bank is offering one of the highest savings rates on account balances of $10,000, their rate is currently at 2.30 percent.

Rates for account balances of $25,000 this week declined to 0.615 percent, down from last week’s national average rate of 0.622 percent.

Compare savings account rates online