Best Variable Deposit Rates October 12, 2016

Variable deposit rates have been slowly creeping up for the past several months. The interest rate increases have been small; in increments of less than 10 basis points for the most part. Even with the small increases, the best variable deposit rates are almost comparable to best the 1 year CD rates.

The best savings rate on our rate database is at 1.25 percent with an APY of 1.26 percent from Popular Direct. This savings rate is only 4 basis points lower than the top 1 year CD rate in our database at 1.29 percent with a yield of 1.30 percent. The highest money market yield on our list is 5 basis point lower at 1.24 percent with a yield of 1.25 percent.

Listed below are today's current highest savings rates and money market rates

Highest Savings Rates

1. Popular Direct 1.25% Yield 1.26%
2. Synchrony Bank 1.04% Yield 1.05% (tied for 2nd place)
3. AloStar Bank of Commerce 1.04% Yield 1.05% (tied for 2nd place)
4. Goldman Sachs Bank USA 1.04% Yield 1.05% (tied for 2nd place)
5. Barclays Bank 1.00% Yield 1.00% (tied for 3rd place)
6. Ally Bank 1.00% Yield 1.00% (tied for 3rd place)
7. Radius Bank 1.00% Yield 1.00% (tied for 3rd place)
8. iGObanking.com 1.00% Yield 1.00% (tied for 3rd place)
9. FNBO Direct 0.95% Yield 0.95% (tied for 4th place)
10. CIT Bank 0.95% Yield 0.95% (tied for 4th place)
11. Discover Bank 0.95% Yield 0.95% (tied for 4th place)
12. American Express Bank 0.90% Yield 0.90% (tied for 5th place)
13. Pacific National Bank 0.90% Yield 0.90% (tied for 5th place)

Highest Money Market Rates

1. East Boston Savings Bank Direct 1.24% Yield 1.25%
2. EverBank 1.11% Yield (promotional rate)
3. Dime 1.09% Yield 1.10% (tied for 2nd place)
4. iGObanking.com 1.09% Yield 1.10% (tied for 2nd place)
5. Capital One 1.00% Yield 1.00% (tied for 3rd place)
6. California First National Bank 1.00% Yield 1.00% (tied for 3rd place)
7. Pacific National Bank 1.00% Yield 1.00% (tied for 3rd place)
8. ableBanking, a division of Northeast Bank 1.00% Yield 1.00% (tied for 3rd place)
9. Sallie Mae 0.90% Yield 0.90%
10. Synchrony Bank 0.85% Yield 0.85% (tied for 4th place)
11. Ally Bank 0.85% Yield 0.85% (tied for 4th place)
12. EH National Bank 0.81% Yield 0.81%

To view a current list of savings account rates and money market account rates search our database at SavingsAccount.MonitorBankRates.com.