web statistics

Best Savings Rates

| Search for the Best Savings Rates from Banks and Credit Unions
Use our savings rates list below to search for and compare the best savings rates from banks and credit unions. Our list of savings account rates are the highest savings rates around from both local banks and credit unions. We also list the best savings rates from national banks. There is no need to search for savings rates elsewhere since we maintain the best list of rates.
Account Type
Search Type
Sort By
 
Institution
APY
Rate
Min. Deposit
Comments
Ally Bank

★★★★  (4 out of 5)100
1% Savings with Ally Bank
1.000%
09/30/2016
1.000%
$0.00
Open an Account Today. Member FDIC. 
UFB Direct

★★★★  (4 out of 5)100
1% Savings with UFB Direct
1.000%
09/30/2016
1.000%
$25,000.00
High Yield Savings Account, Apply Online Now! FDIC Insured 
FNBO Direct

★★★★  (4 out of 5)100
0.95% Savings with FNBO Direct
0.950%
09/30/2016
0.950%
$1.00
Cashback savings where you shop with MyDeals on your check card 
Ally Bank

★★★★  (4 out of 5)100
0.85% MMA with Ally Bank
0.850%
09/30/2016
0.850%
$0.00
Open an Account Today. Member FDIC. 
Mutual of Omaha Bank

★★★★  (4 out of 5)100
0.35% MMA with Mutual of Omaha Bank
0.350%
09/30/2016
0.350%
$1,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
BBVA Compass

★★★★  (4 out of 5)100
0.05% MMA with BBVA Compass
0.050%
09/30/2016
0.050%
$25.00
 
AloStar Bank of Commerce

★★★★  (4 out of 5)100
1.05% Savings with AloStar Bank of Commerce
1.050%
09/30/2016
1.040%
$50.00
 
Goldman Sachs Bank USA

★★★★★  (5 out of 5)100
1.05% Savings with Goldman Sachs Bank USA
1.050%
09/30/2016
1.040%
$0.00
 
California First National Bank

★★★★  (4 out of 5)100
1% MMA with California First National Bank
1.000%
09/30/2016
1.000%
$5,000.00
 
Pacific National Bank

★★★★  (4 out of 5)100
1% MMA with Pacific National Bank
1.000%
09/30/2016
1.000%
$100.00
 
Radius Bank

★★★  (3 out of 5)100
1% Savings with Radius Bank
1.000%
09/30/2016
1.000%
$10.00
Rate for balances $2500+ 
ableBanking, a division of Northeast Bank

★★★★  (4 out of 5)100
1% MMA with ableBanking, a division of Northeast Bank
1.000%
09/30/2016
1.000%
$250.00
$25 New Customer Gift to give to charity (501c3). FDIC insured. 
CIT Bank

  (NR out of 5)100
0.95% Savings with CIT Bank
0.950%
09/30/2016
0.950%
$100.00
Received Five-Star BauerFinancial Star Rating(TM). Member FDIC. 
Discover Bank

★★★★★  (5 out of 5)100
0.95% Savings with Discover Bank
0.950%
09/30/2016
0.950%
$500.00
Grow your savings faster with a rate 5x the National Savings Avg* 
Pacific National Bank

★★★★  (4 out of 5)100
0.9% Savings with Pacific National Bank
0.900%
09/30/2016
0.900%
$100.00
 
Colorado Federal Savings Bank

★★★  (3 out of 5)100
0.85% Savings with Colorado Federal Savings Bank
0.850%
09/30/2016
0.850%
$2,500.00
 
My Savings Direct

★★★★  (4 out of 5)100
0.85% Savings with My Savings Direct
0.850%
09/30/2016
0.850%
$1.00
No Fees! No Minimums! 
EH National Bank

  (1 out of 5)100
0.81% Savings with EH National Bank
0.810%
09/30/2016
0.810%
$1,000.00
 
Discover Bank

★★★★★  (5 out of 5)100
0.8% MMA with Discover Bank
0.800%
09/30/2016
0.800%
$2,500.00
Easy cash access and always great rates. Open an account today! 
EH National Bank

  (1 out of 5)100
0.8% MMA with EH National Bank
0.800%
09/30/2016
0.800%
$1,000.00
 
First Internet Bank of Indiana

★★★★  (4 out of 5)100
0.8% MMA with First Internet Bank of Indiana
0.800%
09/30/2016
0.800%
$100.00
 
Capital One 360

★★★★★  (5 out of 5)100
0.75% Savings with Capital One 360
0.750%
09/30/2016
0.750%
$0.00
 
VirtualBank

★★★★  (4 out of 5)100
0.65% MMA with VirtualBank
0.650%
09/30/2016
0.650%
$100.00
FDIC Insured 
First Internet Bank of Indiana

★★★★  (4 out of 5)100
0.6% Savings with First Internet Bank of Indiana
0.600%
09/30/2016
0.600%
$100.00
 
AloStar Bank of Commerce

★★★★  (4 out of 5)100
0.5% MMA with AloStar Bank of Commerce
0.500%
09/30/2016
0.500%
$1,000.00
 
giantbank.com

★★★★  (4 out of 5)100
0.45% MMA with giantbank.com
0.450%
09/30/2016
0.450%
$1,000.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.3% MMA with State Farm Bank
0.300%
09/30/2016
0.300%
$1,000.00
 
Goldwater Bank

★★★★  (4 out of 5)100
0.26% MMA with Goldwater Bank
0.260%
09/30/2016
0.260%
$1,000.00
 
NewDominion Bank

  (1 out of 5)100
0.15% MMA with NewDominion Bank
0.150%
09/30/2016
0.150%
$500.00
Achieve Rapid Growth Results w/Our Rates! Open Online-Member FDIC 
Third Federal Savings and Loan

★★★★  (4 out of 5)100
0.15% Savings with Third Federal Savings and Loan
0.150%
09/30/2016
0.150%
$25,000.00
 
5 Star Bank

★★★★  (4 out of 5)100
0.1% MMA with 5 Star Bank
0.100%
09/30/2016
0.100%
$1,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.1% Savings with Applied Bank
0.100%
09/30/2016
0.100%
$100.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.1% Savings with State Farm Bank
0.100%
09/30/2016
0.100%
$100.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% Savings with Astoria Bank
0.050%
09/30/2016
0.050%
$500.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% MMA with Astoria Bank
0.050%
09/30/2016
0.050%
$2,500.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% MMA with Citizens Trust Bank
0.050%
09/30/2016
0.050%
$100.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% Savings with Citizens Trust Bank
0.050%
09/30/2016
0.050%
$1,000.00
 
USAA

★★★★★  (5 out of 5)100
0.05% Savings with USAA
0.050%
09/30/2016
0.050%
$25.00
 
USAA

★★★★★  (5 out of 5)100
0.05% MMA with USAA
0.050%
09/30/2016
0.050%
$10,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.02% MMA with Applied Bank
0.020%
09/30/2016
0.020%
$500.00
 
iGObanking.com

★★★  (3 out of 5)100
1.1% MMA with iGObanking.com
1.100%
09/29/2016
1.090%
$25,000.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
iGObanking.com

★★★  (3 out of 5)100
1% Savings with iGObanking.com
1.000%
09/29/2016
1.000%
$1.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
Popular Direct

★★★★★  (5 out of 5)100
1.26% Savings with Popular Direct
1.260%
09/27/2016
1.250%
$5,000.00
We keep it simple and transparent 

Data Provided by Bankrate.com Rates were collected by Bankrate.com on the dates specified. Rates are subject to change without notice and may vary from branch to branch. Bankrate.com National APY Average and Bankrate.com Site APY Average are only available for MMA products in any denomination exclusively. For Savings products, neither national nor Bankrate APY averages are tabulated. For MMA & Savings products in any denomination, the presented Bankrate.com National APY Average and Bankrate.com Site APY Average are averages of the MMA products only, and are not inclusive of Savings products APY rates.

These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site, where you can find additional information. Bank and thift deposits are insured by the Federal Deposit Insurance Corp. Credit Union deposits are insured by the National Credit Union Administration. Many institutions have different rates on their own Websites than those posted on Bankrate.com. Please identify yourself as a Bankrate consumer to lenders to ensure you get the Bankrate.com rate. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please let us know.

Bankrate.com's Safe & Sound® service provides ratings information on the relative financial strength and stability of U.S. commercial banks, savings institutions and credit unions. Five stars is superior, one star is lowest rated. For more information click here.



Despite comments in late August by Fed Chair, Janet Yellen, and NY Fed President, William Dudley, regarding a September rate hike, it didn’t happen. The FOMC wrapped up their meeting yesterday and decided to leave the fed funds rate unchanged.

The FOMC did telegraph one rate hike in 2016 which will likely come during the Fed’s December meeting, after the election. A likely 0.25 percent rate hike in December would put the fed funds rate in a range of 0.50 percent to 0.75 percent.

A 0.25 percent increase is not enough to entice banks to increase deposit rates. As we have reported for the past many years, any large increases in savings rates or money market rates will have to wait until the Fed makes a more significant increase to the fed fund rate.

Currently, the best savings rate in our database is at 1.25 percent with a yield of 1.26 percent from Popular Direct. A 1.25 percent savings rate is on par with the highest 1 year CD rate in our database currently at 1.30 percent. The highest MMA yield in our database is a promotional rate from EverBank at 1.11 percent.

 
Author: Brian McKay
September 24th, 2016

The likelihood of savings rates and money market rates moving higher has increased as a result of some recent Fed comments. The Fed Chairperson, Janet Yellen, and the NY Fed President, William Dudley, both made comments this week that a fed fund rate hike is possible soon.

In a speech on Friday, Yellen said a rate hike this year is still on the table. “I believe the case for an increase in the federal funds rate has strengthened in recent months.”

William Dudley also commented on Friday suggesting a rate hike is possible as soon as the Fed’s September meeting. He said the Fed is “edging closer towards the point in time where it will be appropriate I think to raise interest rates further.” 

Strong economic news is the key to a rate hike in September or the two remaining meetings scheduled in 2016. A really strong employment report for August will be the catalyst for a fed funds rate hike in September. It’s unlikely the Fed will increase rates during the November meeting, which is less then a week before the fall election.

If we don’t see a rate hike in September, the last chance for a hike in 2016 will be the during the December meeting. A hike in September or December will only be 25 basis points and would put the fed funds rate at 0.75 percent. It’s highly unlikely the Fed will hike in both September and December.

The fed funds rate at 0.75 percent might entice banks to increase deposit rates. It is doubtful we will see any banks or credit unions increasing their rates by 25 basis points. A more likely increase will be only around 5 to 10 basis points, which would put the best savings rates or money market rates around 1.25 percent.

In the meantime, the current highest savings rates in our database are at 1.05 percent and the highest money market rates are at 1.11 percent. Right now you can get a slightly higher rate on a 1 year certificate of deposit. The best 1 year CD rates in our database are at 1.30 percent.

 
Author: Brian McKay
August 30th, 2016

Listed below are the best savings rates and money market account rates for August 11, 2016.

Best Savings Rates August 11, 2016

  • East Boston Savings Bank 1.07% Yield 1.08%
  • Synchrony Bank 1.04% Yield 1.05%
  • AloStar Bank of Commerce 1.04% Yield 1.05%
  • Goldman Sachs Bank 1.04% Yield 1.05%
  • Barclays 1.00% Yield 1.00%
  • Ally Bank 1.00% Yield 1.00%
  • Quorum Federal Credit Union 1.00% Yield 1.00%
  • UFB Direct 1.00% Yield 1.00%
  • My Savings Direct 1.00% Yield 1.00%
  • Radius Bank 1.00% Yield 1.00%
  • iGObanking.com 1.00% Yield 1.00%

 Best Money Market Rates August 11, 2016

  • EverBank 0.61% Yield 1.11% – Promotional
  • Dime 1.09% Yield 1.10%
  • iGObanking.com 1.09% Yield 1.10%
  • East Boston Savings Bank 1.07% Yield 1.08%
  • Capital One 1.00% Yield 1.00%
  • Pacific National Bank 1.00% Yield 1.00%
  • ableBanking, a division of Northeast Bank 1.00% Yield 1.00%

Average Variable Deposit Rates for August 11, 2016

  • Average Variable Deposit Rate for Account Balances of $10,000 – 0.49%
  • Average Variable Deposit Rate for Account Balances of $25,000 – 0.58
  • Average Variable Deposit Rate for Account Balances of $50,000 – 0.60%
 
Author: Brian McKay
August 11th, 2016

Savings rates and money market rates remain stable in our Deposit Rate Report for August 2, 2016. There have been some rate changes since our last deposit rate report but no new highs to report. As expected, the FOMC didn’t increase the fed funds rate during their meeting last week.

The next FOMC meeting is scheduled for September 20-21 but it’s unlikely the FOMC will increase the rate during that meeting. Listed below are the current best savings rates and money market rates available in our database of rates.

Best Savings Account Rates August 2, 2016

  • Synchrony Bank 1.04% Yield 1.05%
  • AloStar Bank of Commerce 1.04% Yield 1.05%
  • Gold Sachs Bank 1.04% Yield 1.05%
  • Barclays 1.00% Yield 1.00%
  • Ally Bank 1.00% Yield 1.00%
  • Quorum Federal Credit Union 1.00% Yield 1.00%
  • UFB Direct 1.00% Yield 1.00%
  • My Savings Direct 1.00% Yield 1.00%
  • Radius Bank 1.00% Yield 1.00%
  • iGObanking.com 1.00% Yield 1.00%

 Best Money Market Account Rates August 2, 2016

  • EverBank 0.61% Yield 1.11% – Promotional Rate
  • Dime Savings Bank 1.09% Yield 1.10%
  • iGObanking.com 1.09% Yield 1.10%
  • East Boston Savings Bank 1.07% Yield 1.08%
  • Capital One 1.00% Yield 1.00%
  • Pacific National Bank 1.00% Yield 1.00%
  • ableBanking, a division of Northeast Bank 1.00% Yield 1.00%

Average Deposit Rates for August 2, 2016

  • Savings/ Money Market Account Balance $10,000 – Average Rate 0.49%
  • Savings/ Money Market Account Balance $25,000 – Average Rate 0.58
  • Savings/ Money Market Account Balance $50,000 – – Average Rate 0.60%
 
Author: Brian McKay
August 2nd, 2016

Listed below are current savings rates and money market rates in our Variable Deposit Rate Report for July 11, 2016. Also listed below are average savings/MMA rates for 7/11/16. You can see how these rates compare with all deposit rates by searching our rate database: Variable Deposit Rates.

Top Savings Account Rates July 11, 2016

Top Money Market Rates July 11, 2016

  • Silvergate Bank 1.10% Yield 1.11%
  • EverBank 0.61% Yield 1.11% (Promo Rate)
  • Dime 1.09% Yield 1.10%
  • iGObanking.com 1.09% Yield 1.10%
  • East Boston Savings Bank 1.07% Yield 1.08%
  • Capital One 1.00% Yield 1.00%

Average Savings/MMA Rates July 11, 2016

  • Money Market/Savings – Account Balance $10,000 – Average Rate 0.540%
  • Money Market/Savings – Account Balance $25,000 – Average Rate 0.630%
  • Money Market/Savings – Account Balance $50,000 – – Average Rate 0.650%
 
Author: Brian McKay
July 11th, 2016