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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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APY
Rate
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Colorado Federal Savings Bank

  (3 out of 5)
Savings
0.850%
04/20/2015
0.850%
$2,500.00
 
Mutual of Omaha Bank

  (4 out of 5)
MMA
0.850%
04/20/2015
0.850%
$5,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
Capital One 360

  (4 out of 5)
Savings
0.750%
04/20/2015
0.750%
$1.00
360 Savings lets you be you with no fees or minimums in the way. 
FNBO Direct

  (4 out of 5)
Savings
0.750%
04/20/2015
0.750%
$1.00
Cashback savings where you shop with MyDeals on your check card 
Fultdirect.com

  (4 out of 5)
MMA
0.100%
04/20/2015
0.100%
$10,000.00
 
My Savings Direct

  (4 out of 5)
Savings
1.050%
04/20/2015
1.040%
$1.00
No Fees! No Minimums! 
CIT Bank

  (4 out of 5)
Savings
1.000%
04/20/2015
1.000%
$25,000.00
Built on the heritage of over 100 years. Member FDIC. 
ableBanking, a division of Northeast Bank

  (4 out of 5)
MMA
1.000%
04/20/2015
1.000%
$250.00
$25 New Customer Gift to give to charity (501c3). FDIC insured. 
iGObanking.com

  (3 out of 5)
Savings
1.000%
04/20/2015
1.000%
$1.00
24 month CD 1.30% APY*,FDIC insured, open online or by mail. 
Discover Bank

  (4 out of 5)
Savings
0.900%
04/20/2015
0.900%
$500.00
Grow your savings faster with a rate 5x the National Savings Avg* 
iGObanking.com

  (3 out of 5)
MMA
0.900%
04/20/2015
0.900%
$25,000.00
24 month CD 1.30% APY*,FDIC insured, open online or by mail. 
Radius Bank

  (4 out of 5)
Savings
0.850%
04/20/2015
0.850%
$2,500.00
 
MyCBB

  (3 out of 5)
MMA
0.830%
04/20/2015
0.830%
$1,000.00
Apply Online Now! 
EH National Bank

  (3 out of 5)
MMA
0.800%
04/20/2015
0.800%
$1,000.00
 
First Internet Bank of Indiana

  (4 out of 5)
MMA
0.800%
04/20/2015
0.800%
$100.00
 
Lone Star Bank

  (3 out of 5)
MMA
0.800%
04/20/2015
0.800%
$2,500.00
 
Bank of Internet USA

  (4 out of 5)
MMA
0.750%
04/20/2015
0.750%
$100.00
FDIC Insured Nationwide Banking 
Discover Bank

  (4 out of 5)
MMA
0.750%
04/20/2015
0.750%
$2,500.00
Easy cash access and always great rates. Open an account today! 
VirtualBank

  (4 out of 5)
MMA
0.650%
04/20/2015
0.650%
$100.00
FDIC Insured 
Bank of Internet USA

  (4 out of 5)
Savings
0.610%
04/20/2015
0.610%
$100.00
High Yield Savings Account, Apply Online Now! FDIC Insured 
First Internet Bank of Indiana

  (4 out of 5)
Savings
0.600%
04/20/2015
0.600%
$100.00
 
EH National Bank

  (3 out of 5)
Savings
0.550%
04/20/2015
0.550%
$1,000.00
 
AloStar Bank of Commerce

  (4 out of 5)
Savings
0.500%
04/20/2015
0.500%
$50.00
 
AloStar Bank of Commerce

  (4 out of 5)
MMA
0.500%
04/20/2015
0.500%
$1,000.00
 
Lone Star Bank

  (3 out of 5)
Savings
0.500%
04/20/2015
0.500%
$200.00
 
giantbank.com

  (3 out of 5)
MMA
0.450%
04/20/2015
0.450%
$1,000.00
 
State Farm Bank

  (4 out of 5)
MMA
0.300%
04/20/2015
0.300%
$1,000.00
 
Goldwater Bank

  (2 out of 5)
MMA
0.260%
04/20/2015
0.260%
$1,000.00
 
Heritage Bank

  (4 out of 5)
Savings
0.250%
04/20/2015
0.250%
$1,000.00
 
5 Star Bank

  (5 out of 5)
Savings
0.200%
04/20/2015
0.200%
$100.00
 
E-LOAN

  (4 out of 5)
MMA
0.200%
04/20/2015
0.200%
$5,000.00
No Fees. Start earning interest now! 
Third Federal Savings and Loan

  (4 out of 5)
Savings
0.200%
04/20/2015
0.200%
$25,000.00
 
Fidelity Bk of FL, N.A

  (3 out of 5)
MMA
0.150%
04/20/2015
0.150%
$2,500.00
 
NewDominion Bank

  (1 out of 5)
MMA
0.150%
04/20/2015
0.150%
$500.00
Achieve Rapid Growth Results w/Our Rates! Open Online-Member FDIC 
5 Star Bank

  (5 out of 5)
MMA
0.100%
04/20/2015
0.100%
$1,000.00
 
State Farm Bank

  (4 out of 5)
Savings
0.100%
04/20/2015
0.100%
$100.00
 
Astoria Bank

  (3 out of 5)
Savings
0.050%
04/20/2015
0.050%
$500.00
 
Astoria Bank

  (3 out of 5)
MMA
0.050%
04/20/2015
0.050%
$2,500.00
 
Citizens Trust Bank

  (3 out of 5)
MMA
0.050%
04/20/2015
0.050%
$100.00
 
Citizens Trust Bank

  (3 out of 5)
Savings
0.050%
04/20/2015
0.050%
$1,000.00
 
USAA

  (5 out of 5)
Savings
0.050%
04/20/2015
0.050%
$25.00
 
USAA

  (5 out of 5)
MMA
0.050%
04/20/2015
0.050%
$10,000.00
 
American Bank

  (4 out of 5)
Savings
0.100%
04/14/2015
0.100%
$100.00
 
American Bank

  (4 out of 5)
MMA
0.100%
04/14/2015
0.100%
$100.00
 

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.



Synchrony Bank has increased their savings rate and is now tied for the best savings rate on our table. Synchrony Bank savings account rates are now at 1.04 percent with an APY of 1.05 percent. The bank is now tied for the best rate with GE Capital Bank and My Savings Direct.

The old savings rate at Synchrony Bank was 1.00 percent with an APY of 1.00 percent. It will be interesting to see if the bank also increases their money market rate in the coming days. The current MMA rate is 20 basis points less at 0.85 percent.

Savings Account Rates Average April 16 2015Both rates are much higher than the current average rate reported by MonitorBankRates.com and the FDIC. The current average money market/savings (account balances of at least $10,000) rate reported by MBR is at 0.47 percent. The FDIC average savings rate this week is at 0.06 percent and the average money market rate is at 0.08 percent. You can view all average variable deposit rates reported by MBR in the chart to the right:

Listed below are the top savings rates and money market account rates for April 16, 2015:

Money Market Account Rates

  1. EverBank 1.01% APY
  2. ableBanking, a division of Northeast Bank Rate 1.00% APY 1.00%
  3. iGObanking.com Rate 0.90% APY 0.90%
  4. Sallie Mae Rate 0.90% APY 0.90%
  5. Ally Bank Rate 0.85% APY 0.85%
  6. Mutual of Omaha Bank Rate 0.85% APY 0.85%
  7. Synchrony Bank Rate 0.85% APY 0.85%

Savings Account Rates

  1. Synchrony Bank Rate 1.04% APY 1.05%
  2. GE Capital Bank Rate 1.04% APY 1.05%
  3. MY Savings Direct 1.04% APY 1.05%
  4. Barclays Bank Rate 1.00% APY 1.00%
  5. CIT Bank Rate 1.00% APY 1.00%
  6. iGObanking.com Rate 1.00% APY 1.00%
  7. Ally Bank Rate 0.99% APY 0.99%
  8. American Express Bank Rate 0.90% APY 0.90%
  9. Discover Bank Rate 0.90% APY 0.90%

Deposit rates change constantly, please check for current rates using our rate tables: Best Savings Rates 

 
Author: Brian McKay
April 16th, 2015

There are now 8 banks on our variable deposit rate list offering rates at or above 1.00 percent. GE Capital Bank and My Savings Direct have the best savings rate at 1.04 percent with an APY of 1.05 percent. The savings rate at GE Capital Bank was recently increased from 1.00 percent.

EverBank has the top money market rate with 1.01 percent APY. I should note, the EverBank MMA has an intro period of 1.40 percent for 6 months, then the rate falls to 0.61 percent. The first annual percentage yield combined is 1.01 percent.

We don’t anticipate variable interest rates to move much higher from current levels until the Federal Reserve increases the fed funds rate.  The current fed funds rate has been in a targeted range of zero percent to one quarter percent since Average Variable Deposit Rates April 8 2015December 2008.

You can view average variable deposit rates to the right:

There is a debate raging about when the Fed will increase the rate. Until Friday’s lackluster jobs report, we forecasted the first rate hike in over 6 years was going to happen in June. Now there is a chance we won’t see an increase until the Fed’s September meeting.

The April and May jobs reports will be the deciding factor on when the rate is increased. Better than expected job growth or wage growth will cause the Fed to increase the rate in June. Weak reports will force the Fed to wait until September.

Exactly when the fed funds rate is increased is still not certain but you can bank on the increase being only 25 basis points. A 0.25 percent increase will force the highest savings rates and money market rates towards 1.30 percent. The best 1 year CD rates which are around 1.30 percent right now will head towards 1.55 percent.

 

Listed below are the best variable deposit rates for April 8, 2015:

Best Savings Account Rates

  • GE Capital Direct Savings Rate 1.04% APY 1.05%
  • My Savings Direct Savings Rate 1.04% APY 1.05%
  • Synchrony Bank Savings Rate 1.00% APY 1.00%
  • CIT Bank Savings Rate 1.00% APY 1.00%
  • Barclays Bank Savings Rate 1.00% APY 1.00%
  • iGOBanking Savings Rate 1.00% APY 1.00%
  • Discover Bank Savings Rate 0.90% APY .090%
  • Colorado Federal Savings Bank Rate 0.85% APY 0.85%
  • Radius Bank Savings Rate 0.85% APY 0.85%
  • Capital One 360 Savings Rate 0.75% APY 0.75%
  • FNBO Direct Savings Rate 0.75% APY 0.75%

Best Money Market Account Rates

  • EverBank MMA Rate 1.01% APY (first year, 0.61% after)
  • ableBanking, a division of Northeast Bank MMA Rate 1.00% APY 1.00%
  • Synchrony Bank MMA Rate 0.85% APY 0.85%
  • Ally Bank MMA Rate 0.85% APY 0.85%
  • Mutual of Omaha Bank MMA Rate 0.85% APY 0.85%
  • First Internet Bank of Indiana MMA Rate 0.80% APY 0.80%
  • Lone Star Bank MMA Rate 0.80% APY 0.80%
  • EH National Bank MMA Rate 0.80% APY 0.80%
  • Union Federal Savings Bank MMA Rate 0.75% APY 0.75%
 
Author: Brian McKay
April 8th, 2015

Listed below is a quick rundown of the best deposit rates available this week:

Current Top 10 Savings Rates

  1. GE Capital Direct Savings Rates 1.04% APY 1.05% (tied)
  2. My Savings Direct Savings Rates 1.04% APY 1.05% (tied)
  3. Synchrony Bank Savings Rates 1.00% APY 1.00% (tied)
  4. CIT Bank Savings Rates 1.00% APY 1.00% (tied)
  5. Barclays Bank Svaings Rates 1.00% APY 1.00% (tied)
  6. iGOBanking Rates 1.00% APY 1.00% (tied)
  7. Ally Bank 0.99% APY 0.99%
  8. Discover Bank Rates 0.90% APY 0.90%
  9. Radius Bank Rates 0.85% APY 0.85 (tied)
  10. Colorado FSB Rates 0.85% APY 0.85% (tied)

Current Top 10 Money Market Rates

  1. EverBank Money Market Rate 1.01% APY
  2. ableBanking, a division of Northeast Bank Money Rate 1.00% APY 1.00%
  3. Sallie Mae Money Market Rate 0.90% APY 0.90% (tied)
  4. iGOBanking Money Market Rate 0.90% APY 0.90% (tied)
  5. Synchrony Bank Money Market Rate 0.85% APY 0.85% (tied)
  6. Ally Bank Rates 0.85% APY 0.85% (tied)
  7. Mutual of Omaha Bank Money Rate 0.85% APY 0.85% (tied)
  8. EH National Bank Money Rate 0.80% APY 0.80% (tied)
  9. First Internet Bank of Indiana Money Rate 0.80% APY 0.80% (tied)
  10. Lone Star Bank Money Market Rate 0.80% APY 0.80% (tied)

Related:

Best Savings Rates

 
Author: Brian McKay
April 1st, 2015

We do anticipate deposit rates moving higher in the coming months when the Fed increases the fed funds rate. Hopefully by the end of 2015, the best savings rates will be above 2.00 percent. Below is a quick rundown of the current highest savings rates and money market rates available.

Current Savings Rates March 23, 2015

  • GE Capital Direct Rates 1.04% APY 1.05%
  • My Savings Direct Rates 1.04% APY 1.05%
  • Synchrony Bank Rates 1.00% APY 1.00%
  • CIT Bank Rates 1.00% APY 1.00%
  • Barclays Bank Rates 1.00% APY 1.00%
  • iGOBanking Rates 1.00% APY 1.00%
  • Discover Bank Rates 0.90% APY 0.90%
  • Radius Bank Rates 0.85% APY 0.85%
  • Colorado FSB Rates 0.85% APY 0.85%

Current Money Market Rates March 23, 2015

  • EverBank 1.01% APY
  • ableBanking, a division of Northeast Bank Rates 1.00% APY 1.00%
  • Sallie Mae Rates 0.90% APY 0.90%
  • iGOBanking Rates 0.90% APY 0.90%
  • Synchrony Bank Rates 0.85% APY 0.85%
  • Ally Bank Rates 0.85% APY 0.85%
  • Mutual of Omaha Bank Rates 0.85% APY 0.85%
  • EH National Bank Rates 0.80% APY 0.80%
  • First Internet Bank of Indiana Rates 0.80% APY 0.80%

Related Posts:

Best Savings Rates

 
Author: Brian McKay
March 23rd, 2015

The bad news just doesn’t stop for saving enough for retirement, despite U.S. stock markets being near record highs. A research report, released by The National Institute on Retirement Security, showed the median retirement account balance dipped from $3,000 to $2,500. That’s right, $2,500 isn’t a misprint.

An even more depression fact is, nearly 40 million households have no retirement savings at all. Granted, current savings rates are nothing to write home about but that shouldn’t be an excuse not to save for retirement.

If you’re one of the 40 million that doesn’t have any retirement savings you need to start right away. The old Chinese Proverb “the best time to plant a tree was 20 years ago, the second best time is now,” holds true to saving as well.

The median retirement account value for those near retirement, age 55 to 64, is $14,500. The retirement account balance is higher than the overall median, but the situation is more dire if you fall into that age group. If you’re near retirement, you have no time to save and invest, to try and make up for lost time.


Source: National Institute on Retirement Security

We all know we are not saving enough for retirement, but are not doing anything about it. A report released earlier this month by the NIRS showed 86 percent of Americans believe there is a retirement savings crisis. 75 percent of Americans are worried about their own ability to achieve a secure retirement.

Source: National Institute on Retirement Security
Source: National Institute on Retirement Security

Listed below are some interesting findings in the report:

  • Almost 40 million working-age households do not own any retirement account assets, whether in an employer-sponsored 401(k) type plan or an IRA.
  • 50 percent of the 40 million households with no retirement savings are headed by someone between age 45 and 65.
  • Households that do own retirement accounts have almost 2.5 times the annual income of households that do not own a retirement account.
  • 62 percent of working households, age 55-64, have retirement savings less than one times their annual income.
  • Only 55 Percent of Private Sector Workers Have Access to a Retirement Plan at Work.
  • Only 51 Percent of Working-Age Households Participate In Workplace Retirement Plans

You can view the entire report on the NIRS website: The Continuing Retirement Savings Crisis

 
Author: Brian McKay
March 12th, 2015