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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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Rate
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FNBO Direct

  (4 out of 5)
Savings
0.950%
02/03/2016
0.950%
$1.00
Cashback savings where you shop with MyDeals on your check card 
Mutual of Omaha Bank

  (4 out of 5)
MMA
0.850%
02/03/2016
0.850%
$1,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
Silvergate Bank

  (4 out of 5)
MMA
1.110%
02/03/2016
1.100%
$1,000.00
 
Dime Savings Bank of Williamsburgh

  (4 out of 5)
MMA
1.100%
02/03/2016
1.090%
$1,000.00
Easy to open and manage. FDIC-insured. 
Northeast Bank

  (4 out of 5)
MMA
1.100%
02/03/2016
1.090%
$5,000.00
 
iGObanking.com

  (3 out of 5)
MMA
1.100%
02/03/2016
1.090%
$25,000.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
GE Capital Bank

  (4 out of 5)
Savings
1.050%
02/03/2016
1.040%
$0.00
No transaction fees. FDIC Insured. Open in ten minutes or less. 
Synchrony Bank

  (5 out of 5)
Savings
1.050%
02/03/2016
1.040%
$0.00
Great Rates + Safety = Peace of Mind 
CIT Bank

  (5 out of 5)
Savings
1.000%
02/03/2016
0.990%
$100.00
Premium savings. Maximum returns. Member FDIC. 
My Savings Direct

  (4 out of 5)
Savings
1.000%
02/03/2016
1.000%
$1.00
No Fees! No Minimums! 
ableBanking, a division of Northeast Bank

  (4 out of 5)
MMA
1.000%
02/03/2016
1.000%
$250.00
$25 New Customer Gift to give to charity (501c3). FDIC insured. 
iGObanking.com

  (3 out of 5)
Savings
1.000%
02/03/2016
1.000%
$1.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
Discover Bank

  (5 out of 5)
Savings
0.950%
02/03/2016
0.950%
$500.00
Grow your savings faster with a rate 5x the National Savings Avg* 
Sallie Mae

  (5 out of 5)
MMA
0.900%
02/03/2016
0.900%
$0.00
Easy Access to Your Funds. FDIC-insured. 
Colorado Federal Savings Bank

  (3 out of 5)
Savings
0.850%
02/03/2016
0.850%
$2,500.00
 
Synchrony Bank

  (5 out of 5)
MMA
0.850%
02/03/2016
0.850%
$0.00
Great Rates + Safety = Peace of Mind 
MyCBB

  (2 out of 5)
MMA
0.830%
02/03/2016
0.830%
$100.00
Apply Online Now! 
Discover Bank

  (5 out of 5)
MMA
0.800%
02/03/2016
0.800%
$2,500.00
Easy cash access and always great rates. Open an account today! 
EH National Bank

  (2 out of 5)
MMA
0.800%
02/03/2016
0.800%
$1,000.00
 
First Internet Bank of Indiana

  (4 out of 5)
MMA
0.800%
02/03/2016
0.800%
$100.00
 
Capital One 360

  (5 out of 5)
Savings
0.750%
02/03/2016
0.750%
$0.00
 
Capital One 360

  (5 out of 5)
Savings
0.750%
02/03/2016
0.750%
$1.00
The 360 Savings(r) account: A great rate and up to a $500 bonus. 
VirtualBank

  (4 out of 5)
MMA
0.650%
02/03/2016
0.650%
$100.00
FDIC Insured 
First Internet Bank of Indiana

  (4 out of 5)
Savings
0.600%
02/03/2016
0.600%
$100.00
 
Lone Star Bank

  (3 out of 5)
MMA
0.600%
02/03/2016
0.600%
$2,500.00
 
EH National Bank

  (2 out of 5)
Savings
0.550%
02/03/2016
0.550%
$1,000.00
 
AloStar Bank of Commerce

  (5 out of 5)
Savings
0.500%
02/03/2016
0.500%
$50.00
 
AloStar Bank of Commerce

  (5 out of 5)
MMA
0.500%
02/03/2016
0.500%
$1,000.00
 
Lone Star Bank

  (3 out of 5)
Savings
0.500%
02/03/2016
0.500%
$200.00
 
giantbank.com

  (4 out of 5)
MMA
0.450%
02/03/2016
0.450%
$1,000.00
 
Goldwater Bank

  (3 out of 5)
MMA
0.260%
02/03/2016
0.260%
$1,000.00
 
Heritage Bank

  (4 out of 5)
Savings
0.250%
02/03/2016
0.250%
$1,000.00
 
5 Star Bank

  (4 out of 5)
Savings
0.200%
02/03/2016
0.200%
$100.00
 
Third Federal Savings and Loan

  (4 out of 5)
Savings
0.200%
02/03/2016
0.200%
$25,000.00
 
NewDominion Bank

  (2 out of 5)
MMA
0.150%
02/03/2016
0.150%
$500.00
Achieve Rapid Growth Results w/Our Rates! Open Online-Member FDIC 
5 Star Bank

  (4 out of 5)
MMA
0.100%
02/03/2016
0.100%
$1,000.00
 
Astoria Bank

  (3 out of 5)
Savings
0.050%
02/03/2016
0.050%
$500.00
 
Astoria Bank

  (3 out of 5)
MMA
0.050%
02/03/2016
0.050%
$2,500.00
 
Citizens Trust Bank

  (3 out of 5)
MMA
0.050%
02/03/2016
0.050%
$100.00
 
Citizens Trust Bank

  (3 out of 5)
Savings
0.050%
02/03/2016
0.050%
$1,000.00
 
USAA

  (5 out of 5)
Savings
0.050%
02/03/2016
0.050%
$25.00
 
USAA

  (5 out of 5)
MMA
0.050%
02/03/2016
0.050%
$10,000.00
 
State Farm Bank

  (4 out of 5)
MMA
0.300%
02/02/2016
0.300%
$1,000.00
 
Applied Bank

  (5 out of 5)
Savings
0.100%
02/02/2016
0.100%
$100.00
 
State Farm Bank

  (4 out of 5)
Savings
0.100%
02/02/2016
0.100%
$100.00
 
Applied Bank

  (5 out of 5)
MMA
0.020%
02/02/2016
0.020%
$500.00
 
EverBank

  (3 out of 5)
MMA
1.110%
01/29/2016
0.610%
$1,500.00
Earn a top 5% yield- always! Open an Account today. FDIC insured. 
Barclays

  (5 out of 5)
Savings
1.000%
01/29/2016
1.000%
$0.00
No Minimum Balance. No Monthly Maintenance Fees. FDIC Insured. 

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.



Northeast Bank, headquartered in Lewiston, Maine, is offering one of the best money market rates available right now. The top MMA rate at 1.09 percent with a yield of 1.10 percent is on the Northeast Bank’s Pearl Money Market Account. The rate is available for both personal and business accounts for customers that are new to Northeast Bank.

Northeast Bank is offering several other deposit accounts besides the bank’s Pearl MMA. Listed below are all current deposit rates at Northeast Bank:

Current Northeast Bank Deposit Rates

  • Pearl MMA Rate 1.09% Yield 1.10%
  • Regular MMA Balances $0.01 – $9,999.99 Rate 0.10%
  • Regular MMA Balances $10,000 – $24,999.99 Rate 0.10%
  • Regular MMA Balances $25,000 – $74,999.99 Rate 0.20%
  • Regular MMA Balances $75,000 – $99,999.99 Rate 0.30%
  • Regular MMA Balances $100,000 and Above Rate 0.35%
  • Business Savings Account $100 Min Rate 0.10%
  • Youth Statement Savings Account $10 Min Rate 0.10%
  • Statement Savings Account $100 Min Rate 0.10%
  • Holiday Club Min $2.00 Rate 0.10%

You can see how these variable deposit rates compare with other bank’s deposit rates by searching our rate database at Variable Deposit Rates.

 
Author: Brian McKay
January 31st, 2016

A few banks have increased their rates, so average deposit rates are slightly higher this week. Variable deposit rates have been stable so far in 2016 but that will change in the coming months. The biggest force behind any deposit rate increases is the Federal Open Market Committee (FOMC). The FOMC meets again in less than 2 weeks to decide on interest rate policy.

The Fed is widely expected to keep the fed funds rate in the current range of 0.25 percent to 0.50 percent. As of today, there is a 90.5 percent chance the Fed won’t increase the fed funds rate according to the CME Group’s Fed Watch Tool. The next Fed meeting is in March and as of today there is only a 34.5 percent probability the Fed will increase the rate during that meeting.

Deposit rates will move higher in 2016. The question isn’t if, but when. Listed below are this week’s best savings rates and money market rates.

Savings Rates

  • North American Savings Bank Rate 1.11% Yield 1.12%
  • 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%
  • Discover Bank Rate 0.95% Yield 0.95%

Money Market Rates

  • EverBank Rate 0.61% Yield 1.11%
  • 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%
  • 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%
 
Author: Brian McKay
January 16th, 2016

North American Savings Bank (NASB) now has the best savings rate available right now in the database of savings rates. NASB is currently offering savings account rates at 1.11 percent with an APY of 1.12 percent. The minimum opening savings account balance at NASB is only $100.

North American Savings Bank offers seven different types of savings accounts. The 1.11 percent rate and 1.12 percent yield is on NASB’s eSavings Bank Account.

Some of the benefits of the eSavings Bank savings account include ATM access to over 24,000+ surcharge free ATMs nationwide. This is a particularly good benefit since NASB only has nine brick-and-mortar locations around the Kansas City, MO area. There are no monthly maintenance fees and the account is FDIC insured up to the maximum amount allowed by law.

There is a minimum monthly account balance of $100. If your account falls below this minimum and there is no “initiated monetary activity,” you will be charged a fee of $7.50 per cycle. NASB’s website doesn’t go into details about “initiated monetary activity.”

NASB also offers free Financial Education & Management Tools to account holders. You can also download your statements online. Another good feature is NASB’s mobile banking app. You can deposit checks just by taking a picture of the check. There is no need to physically deposit the check.

Listed below are NASB’s other types of savings accounts and their corresponding rates. You can compare this bank’s savings rates with rates from other bank’s rates by using our rate tables at Online Savings Rates.

Savings Account Rates at NASB

Account Type APY 1 Minimum to Open
Performance Savings   $5,000
Balance = $5,000 – $24,999 0.25%*  
Balance = $25,000 – $49,999 0.35%*  
Balance = $50,000 – $74,999 0.45%*  
Balance = $75,000 – $124,999 0.50%*  
Balance = $125,000 – $199,999 0.50%*  
Balance = $200,000 or Greater 0.50%*  
Select III Savings   $500
Balance = $.01-$4,999 0.10%*  
Balance = $5,000-$24,999 0.20%*  
Balance = $25,000 – $74,999 0.35%*  
Balance = $75,000 or Greater 0.45%*  
Statement Savings 0.14% $100
Smart Savers Savings 0.34% $50
Stepping Stones Savings 0.14% $25
Deposit the Difference Savings 0.05% $50
eSavings Account 1.12% $100

 

 

 
Author: Brian McKay
January 5th, 2016

2016 will be a better year for deposit rates after many years of watching rates decline to historic lows. The Fed will most likely increase the fed funds rate at least 3 or 4 times in 2016, on top of the 1 rate increase in 2015. While banks and credit unions haven’t increased rates yet, it’s only a matter of time before they do.

Let’s look forward to higher fixed and variable bank rates in 2016. Listed are the best savings rates and money market rates on Christmas Day 2015. You can check on all current deposit rates by searching our database of interest rates at MonitorBankRates.com.

Best Savings Rates Christmas Day

  • Radius Bank 1.09% Yield 1.10%
  • The Palladian PrivateBank 0.90% Yield 1.10%
  • Synchrony Bank 1.04% Yield 1.05%
  • GE Capital Bank1.04% Yield 1.05%
  • Barclays Bank 1.00% Yield 1.00%
  • Ally Bank 1.00% Yield 1.00%
  • iGObanking.com 1.00% Yield 1.00%
  • My Savings Direct 1.00% Yield 1.00%
  • CIT Bank 0.99% Yield 1.00%
  • Discover Bank 0.95% Yield 0.95%
  • FNBO Direct 0.95% Yield 0.95%

Best Money Market Account Rates Christmas Day

  • EverBank 0.61% Yield 1.11% (promotional rate)
  • Dime Savings Bank of Williamsburgh 1.09% Yield 1.10%
  • Northeast Bank 1.09% Yield 1.10%
  • iGObanking.com 1.09% Yield 1.10%
  • ableBanking 1.00% Yield 1.00%
  • Sallie Mae Bank 0.90% Yield 0.90%
  • Ally Bank 0.85% Yield 0.85%
  • Mutual of Omaha Bank 0.85% Yield 0.85%
  • Synchrony Bank 0.85% Yield 0.85%
  • MyCBB 0.83% Yield 0.83%
  • Discover Bank 0.80% Yield 0.80%
 
Author: Brian McKay
December 25th, 2015

As we near the first federal funds rate increase in nearly a decade, we find 7 banks in our database offering variable deposit rates at or above 1.10% APY. We may see more banks increase their rate to 1.10 percent or above if the Fed increases the fed funds rate.

An increase is looking more and more likely. In fact, the CME Group’s FedWatch Tool currently has the probability of a rate increase at 85.3 percent. Last month the probability of a rate hike in December was much lower at 69.8 percent.

Not only is it likely more banks and credit unions will increase rates to 1.10 or higher, some banks with the highest rates now might increase their rates even more. We could see the top savings rates and money market rates at 1.35 percent or possibly as high as 1.50 percent in the coming weeks.

Besides a hike, everyone will be paying close attention to the Fed’s comments on future hikes. If the Fed’s remarks are dovish, it could be many more months before we see more increases. Any future hikes will be dependent on future economic data.

Strong growth, employment, and inflation near the Fed’s target of 2.00 percent will bring more rate increases. After the December meeting, the Fed meets again in both January and March, followed by 6 more meetings in 2016. If the Fed were to increase the rate during each meeting, the fed funds rate would be around 2.50 percent by the end of 2016.

The fed funds rate at 2.50 percent will send the best savings rates and money market rates above 3.50 percent, possibly as high as 4.00 percent. The last time variable deposit rates were that high was about 7 years ago during the beginning of the financial crisis.

 
Author: Brian McKay
December 10th, 2015