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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.
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EverBank

★★★  (3 out of 5)100
1.11% MMA with EverBank
1.110%
05/30/2016
0.610%
$1,500.00
Earn a top 5% yield- always! Open an Account today. FDIC insured. 
Northeast Bank

★★★★  (4 out of 5)100
1.1% MMA with Northeast Bank
1.100%
05/30/2016
1.090%
$5,000.00
 
Sallie Mae

★★★★★  (5 out of 5)100
1.05% MMA with Sallie Mae
1.050%
05/30/2016
0.900%
$0.00
Easy Access to Your Funds. FDIC-insured. 
Synchrony Bank

★★★★★  (5 out of 5)100
1.05% Savings with Synchrony Bank
1.050%
05/30/2016
1.040%
$0.00
Great Rates + Safety = Peace of Mind 
Ally Bank

★★★★  (4 out of 5)100
1% Savings with Ally Bank
1.000%
05/30/2016
1.000%
$0.00
Open an Account Today. Member FDIC. 
Barclays

★★★★★  (5 out of 5)100
1% Savings with Barclays
1.000%
05/30/2016
1.000%
$0.00
No Minimum Balance. No Monthly Maintenance Fees. FDIC Insured. 
CIT Bank

★★★★★  (5 out of 5)100
0.95% Savings with CIT Bank
0.950%
05/30/2016
0.950%
$100.00
Premium savings. Maximum returns. Member FDIC. 
First National Bank of Omaha

★★★★  (4 out of 5)100
0.95% Savings with First National Bank of Omaha
0.950%
05/30/2016
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%
05/30/2016
0.850%
$0.00
Open an Account Today. Member FDIC. 
Mutual of Omaha Bank

★★★★  (4 out of 5)100
0.85% MMA with Mutual of Omaha Bank
0.850%
05/30/2016
0.850%
$1,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
Synchrony Bank

★★★★★  (5 out of 5)100
0.85% MMA with Synchrony Bank
0.850%
05/30/2016
0.850%
$0.00
Great Rates + Safety = Peace of Mind 
Fultdirect.com

★★★★  (4 out of 5)100
0.1% MMA with Fultdirect.com
0.100%
05/30/2016
0.100%
$10,000.00
 
BBVA Compass

★★★★  (4 out of 5)100
0.05% MMA with BBVA Compass
0.050%
05/30/2016
0.050%
$25.00
 
Silvergate Bank

★★★★  (4 out of 5)100
1.11% MMA with Silvergate Bank
1.110%
05/30/2016
1.100%
$10,000.00
 
iGObanking.com

★★★  (3 out of 5)100
1.1% MMA with iGObanking.com
1.100%
05/30/2016
1.090%
$25,000.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
AloStar Bank of Commerce

★★★★★  (5 out of 5)100
1.05% Savings with AloStar Bank of Commerce
1.050%
05/30/2016
1.040%
$50.00
 
Goldman Sachs Bank USA

★★★★★  (5 out of 5)100
1.05% Savings with Goldman Sachs Bank USA
1.050%
05/30/2016
1.040%
$0.00
 
Radius Bank

★★★  (3 out of 5)100
1.01% Savings with Radius Bank
1.010%
05/30/2016
1.010%
$0.00
 
My Savings Direct

★★★★  (4 out of 5)100
1% Savings with My Savings Direct
1.000%
05/30/2016
1.000%
$1.00
No Fees! No Minimums! 
Pacific National Bank

★★★★  (4 out of 5)100
1% MMA with Pacific National Bank
1.000%
05/30/2016
1.000%
$100.00
 
ableBanking, a division of Northeast Bank

★★★★  (4 out of 5)100
1% MMA with ableBanking, a division of Northeast Bank
1.000%
05/30/2016
1.000%
$250.00
$25 New Customer Gift to give to charity (501c3). FDIC insured. 
iGObanking.com

★★★  (3 out of 5)100
1% Savings with iGObanking.com
1.000%
05/30/2016
1.000%
$1.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
Discover Bank

★★★★★  (5 out of 5)100
0.95% Savings with Discover Bank
0.950%
05/30/2016
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%
05/30/2016
0.900%
$100.00
 
Colorado Federal Savings Bank

★★★  (3 out of 5)100
0.85% Savings with Colorado Federal Savings Bank
0.850%
05/30/2016
0.850%
$2,500.00
 
EH National Bank

★★  (2 out of 5)100
0.81% Savings with EH National Bank
0.810%
05/30/2016
0.810%
$1,000.00
 
Discover Bank

★★★★★  (5 out of 5)100
0.8% MMA with Discover Bank
0.800%
05/30/2016
0.800%
$2,500.00
Easy cash access and always great rates. Open an account today! 
EH National Bank

★★  (2 out of 5)100
0.8% MMA with EH National Bank
0.800%
05/30/2016
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%
05/30/2016
0.800%
$100.00
 
Capital One 360

★★★★★  (5 out of 5)100
0.75% Savings with Capital One 360
0.750%
05/30/2016
0.750%
$0.00
 
VirtualBank

★★★★  (4 out of 5)100
0.65% MMA with VirtualBank
0.650%
05/30/2016
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%
05/30/2016
0.600%
$100.00
 
AloStar Bank of Commerce

★★★★★  (5 out of 5)100
0.5% MMA with AloStar Bank of Commerce
0.500%
05/30/2016
0.500%
$1,000.00
 
California First National Bank

★★★★★  (5 out of 5)100
0.5% MMA with California First National Bank
0.500%
05/30/2016
0.500%
$5,000.00
 
giantbank.com

★★★★  (4 out of 5)100
0.45% MMA with giantbank.com
0.450%
05/30/2016
0.450%
$1,000.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.3% MMA with State Farm Bank
0.300%
05/30/2016
0.300%
$1,000.00
 
Goldwater Bank

★★★  (3 out of 5)100
0.26% MMA with Goldwater Bank
0.260%
05/30/2016
0.260%
$1,000.00
 
Third Federal Savings and Loan

★★★★  (4 out of 5)100
0.2% Savings with Third Federal Savings and Loan
0.200%
05/30/2016
0.200%
$25,000.00
 
NewDominion Bank

★★  (2 out of 5)100
0.15% MMA with NewDominion Bank
0.150%
05/30/2016
0.150%
$500.00
Achieve Rapid Growth Results w/Our Rates! Open Online-Member FDIC 
5 Star Bank

★★★★  (4 out of 5)100
0.1% MMA with 5 Star Bank
0.100%
05/30/2016
0.100%
$1,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.1% Savings with Applied Bank
0.100%
05/30/2016
0.100%
$100.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.1% Savings with State Farm Bank
0.100%
05/30/2016
0.100%
$100.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% Savings with Astoria Bank
0.050%
05/30/2016
0.050%
$500.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% MMA with Astoria Bank
0.050%
05/30/2016
0.050%
$2,500.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% MMA with Citizens Trust Bank
0.050%
05/30/2016
0.050%
$100.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% Savings with Citizens Trust Bank
0.050%
05/30/2016
0.050%
$1,000.00
 
USAA

★★★★★  (5 out of 5)100
0.05% Savings with USAA
0.050%
05/30/2016
0.050%
$25.00
 
USAA

★★★★★  (5 out of 5)100
0.05% MMA with USAA
0.050%
05/30/2016
0.050%
$10,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.02% MMA with Applied Bank
0.020%
05/30/2016
0.020%
$500.00
 

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.



The Federal Open Market Committee is scheduled to meet next month to decide the direction of monetary policy. All eyes will be on the Fed to see if they announce a federal funds rate hike. While a rate hike is more likely to happen next month than it was a few weeks ago, it still might not happen.

The CME Group’s FedWatch Tool currently has a 64.4 percent chance that the rate will remain at 0.50 percent. There is only a 35.6 percent chance that the rate will be increased 25 basis points to 0.75 percent. The 35.6 percent chance of an increase is actually up from 30 percent a day ago.

Even if the Fed does raise the rate, it’s not a foregone conclusion that banks will increase deposit rates. As the Fed increases the fed funds rate, banks will be under pressure to increase deposit rates. Banks that are interested in growing their deposits will feel that pressure.

We look for online banks to lead the pack in raising deposit rates. Online banks such as Synchrony Bank, Sallie Mae, and Ally Bank will probably be the first to increase savings rates and money market rates. The FedWatch Tool has a 38 percent probability of a fed funds rate of 0.75 percent and a 30.7 percent probability of  1.00 percent fed funds rate by the end of 2016. A 1.00 percent fed funds rate will probably drive the top savings and money market rates towards 1.50 percent. 

The last time the Fed released their own projection materials was back in March. Their forecast for the fed funds rate is for it to be at 0.90 percent at the end of 2016. The rate is also forecast to move higher in the coming years. By the end of 2017, the rate is forecast to be at 1.90 percent and at the end of 2018, the rate is forecast to be at 3.00 percent.

The Fed is also scheduled to release new projection materials after their June meeting. It will be interesting to see if the June projection materials are forecasting a higher or lower rate. When you compare the last two projections, December 2015 and March 2016, fed fund rate forecasts have been lowered by 50 basis points. PCE inflation for 2016 has also fallen from 1.9 to 1.6 percent.

Even if the Fed does increase the fed funds rate by 25 basis points, it’s still unlikely one of the online banks will increase their deposit rates. If the fed funds rate is increased 25 basis points, don’t expect a similar 25 basis point deposit rate increase. 5 basis points or 10 basis points will probably be the maximum we will see.

 
Author: Brian McKay
May 25th, 2016

Regional banks and credit unions are offering better deposit rates these days. These regional financial institutions offer rates higher than the big national banks but lower than rates offered by online banks. The best rates available are from online banks but you will be sacrificing personalized service.

It’s usually best to have a deposit account at a regional bank if you need a more personalized banking relationship and have a need for face-to-face customer support.

The highest regional rate in Georgia in our rate database is on a money market account from Affinity Bank at 0.50 percent for deposits of $2,500 or more. Affinity Bank’s current savings rate is slightly lower at 0.40 percent with a minimum deposit of $1,000.

Listed below are the top savings rates and money market rates for the region around Georgia.

Georgia Variable Deposit Rates

  • Affinity Bank MMA Rate 0.50%
  • Affinity Bank Savings Rate 0.40%
  • Bank of Pensacola MMA Rate 0.20%
  • BlueHarbor Bank Savings Rate 0.20%
  • Delta Community Credit Union MMA Rate 0.20%
  • Georgia’s Own Credit Union MMA Rate 0.20%
  • Patriot Bank MMA Rate 0.20%
  • Associated Credit Union Savings Rate 0.15%
  • Associated Credit Union MMA Rate 0.15%
  • Delta Community Credit Union Savings Rate 0.15%
  • LGE Community Credit Union MMA Rate 0.15%

You can see how these deposit rates compare with national online bank deposit rates by searching our Deposit Rate Database.

 
Author: Brian McKay
April 22nd, 2016

We have a new leader on our variable deposit rate list. UFB Direct has the new highest savings rate at 1.19 percent with a yield of 1.20 percent. UFB Direct’s savings rate is 10 basis points higher than last month’s top savings rate from Dime Saving’s Bank at 1.10 percent.

UFB Direct is a division of BofI Federal Bank, an FDIC insured financial institution that was established in 2000. Deposit accounts at UFB Direct are FDIC insured to the maximum allowable limits of $250,000 per depositor under the BofI Federal Bank (FDIC Cert # 35546).

UFB Direct’s deposits are FDIC insured under BofI Federal Bank. When considering maximum FDIC coverage, deposits at UFB Direct will be combined with any deposits you have at BofI Federal Bank or other divisions of BofI Federal Bank. In other words, don’t exceed $250,000 in deposits at UFB Direct and BofI Federal Bank brand banks.

The savings rate on UFB’s savings account is tiered. Account balances over $25,000 earn 1.19 percent with a yield of 1.20 percent. Accounts balances under $25,000 earn only 0.20 percent.

Money deposited into the savings account must be new money. “New,” in the sense of money not already on deposit at any of the BofI Federal Bank brands. The list of bands include several online banks including Bank of Internet so you should check the list at BofI Federal Bank Brands.

UFB Direct Savings Account Benefits

  • No monthly maintenance fees
  • Use of any domestic ATM
  • FDIC insured up to $250,000 per depositor
  • Online Banking
  • Mobile Banking
  • Free FinanceWorks UFB Direct’s budgeting tool powered by Quicken
  • You can transfer funds between any of your UFB Direct accounts

UFB Direct covers 100% of any losses due any break-ins or funds that are lost, misplaced or taken out of your account without your authorization. Losses covered under the bank’s Online Safety Guarantee include the following:

  • An error made by a UFB Direct employee resulting in an unauthorized or erroneous transaction that results in lost or misplaced funds
  • A computer crime that the UFB Direct security system fails to prevent
  • An unauthorized debit card transaction
  • A missed or misdirected payment that is the fault of UFB Direct

To learn more and to open an account go to UFB’s website at UFB Direct Savings High Rates.

 
Author: Brian McKay
March 22nd, 2016

Listed below are the best variable deposit rates for March 1, 2016. For a list of today’s deposit rates search our database of rates at Deposit Rates.

Best Money Market Account Rates

  • EverBank Rate 0.61% Yield 1.11%
  • Silvergate Bank 1.10% Yield 1.10%
  • Dime Rate 1.09% Yield 1.10%
  • Northeast Bank Rate 1.09% Yield 1.10%
  • iGObanking.com Rate 1.09% Yield 1.10%
  • ableBanking Rate 1.00% Yield 1.00%
  • Sallie Mae 0.90% Yield 0.90%
  • Ally Bank Rate 0.85% Yield 0.85%
  • Mutual of Omaha Bank Rate 0.85% Yield 0.85%
  • Synchrony Bank Rate 0.85% Yield 0.85%
  • MyCBB Rate 0.83% Yield 0.83%
  • Discover Bank 0.80% Yield 0.80%
  • EH National Bank 0.80% Yield 0.80%

Best Savings Account Rates

  • Synchrony Bank Rate 1.04% Yield 1.05%
  • GE Capital Bank Rate 1.04% Yield 1.05%
  • Barclays Bank Rate 1.00% Yield 1.00%
  • Ally Bank Rate 1.00% Yield 1.00%
  • iGObanking.com Rate 1.00% Yield 1.00%
  • My Savings Direct Rate 1.00% Yield 1.00%
  • CIT Bank Rate 0.99% Yield 1.00%
  • FNBO Direct Rate 0.95% Yield 0.95%
  • Discover Bank Rate 0.95% Yield 0.95%
  • American Express Rate 0.90% Yield 0.90%
  • Colorado Federal Savings Bank 0.85% Yield 0.85%
 
Author: Brian McKay
March 1st, 2016

Listed below are the top online savings rates and money market rates for 2/24/16.

Top Online Savings Account Rates

  • Synchrony Bank Rate 1.04% Yield 1.05%
  • GE Capital Bank Rate 1.04% Yield 1.05%
  • Barclays Bank Rate 1.00% Yield 1.00%
  • Ally Bank Rate 1.00% Yield 1.00%
  • iGObanking.com Rate 1.00% Yield 1.00%
  • My Savings Direct Rate 1.00% Yield 1.00%
  • CIT Bank Rate 0.99% Yield 1.00%
  • FNBO Direct Rate 0.95% Yield 0.95%
  • Discover Bank Rate 0.95% Yield 0.95%
  • American Express Rate 0.90% Yield 0.90%

Money Market Account Rates

  • EverBank Rate 0.61% Yield 1.11%
  • Silvergate Bank 1.10% Yield 1.10%
  • Dime Rate 1.09% Yield 1.10%
  • Northeast Bank Rate 1.09% Yield 1.10%
  • iGObanking.com Rate 1.09% Yield 1.10%
  • ableBanking Rate 1.00% Yield 1.00%
  • Sallie Mae 0.90% Yield 0.90%
  • Ally Bank Rate 0.85% Yield 0.85%
  • Mutual of Omaha Bank Rate 0.85% Yield 0.85%
  • Synchrony Bank Rate 0.85% Yield 0.85%
  • MyCBB Rate 0.83% Yield 0.83%
  • Discover Bank 0.80% Yield 0.80%

To see variable deposit rates from many banks and credit unions search our rate table at Deposit Rates.

 
Author: Brian McKay
February 24th, 2016