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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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Synchrony Bank

★★★★★  (5 out of 5)100
1.05% Savings with Synchrony Bank
1.050%
08/23/2016
1.040%
$0.00
Great Rates + Safety = Peace of Mind 
Ally Bank

★★★★  (4 out of 5)100
1% Savings with Ally Bank
1.000%
08/23/2016
1.000%
$0.00
Open an Account Today. Member FDIC. 
Barclays

★★★★  (4 out of 5)100
1% Savings with Barclays
1.000%
08/23/2016
1.000%
$0.00
No Minimum Balance. No Monthly Maintenance Fees. FDIC Insured. 
UFB Direct

★★★★  (4 out of 5)100
1% Savings with UFB Direct
1.000%
08/23/2016
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%
08/23/2016
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%
08/23/2016
0.850%
$0.00
Open an Account Today. Member FDIC. 
Synchrony Bank

★★★★★  (5 out of 5)100
0.85% MMA with Synchrony Bank
0.850%
08/23/2016
0.850%
$0.00
Great Rates + Safety = Peace of Mind 
Mutual of Omaha Bank

★★★★  (4 out of 5)100
0.35% MMA with Mutual of Omaha Bank
0.350%
08/23/2016
0.350%
$1,000.00
Easy to open, easy to fund, easy to manage. Open an account now. 
Fultdirect.com

★★★★  (4 out of 5)100
0.1% MMA with Fultdirect.com
0.100%
08/23/2016
0.100%
$10,000.00
 
BBVA Compass

★★★★  (4 out of 5)100
0.05% MMA with BBVA Compass
0.050%
08/23/2016
0.050%
$25.00
 
Dime Community Bank

★★★★  (4 out of 5)100
1.1% MMA with Dime Community Bank
1.100%
08/23/2016
1.090%
$1,000.00
Easy to open and manage. FDIC-insured. 
iGObanking.com

★★★  (3 out of 5)100
1.1% MMA with iGObanking.com
1.100%
08/23/2016
1.090%
$25,000.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
East Boston Savings Bank

★★★★  (4 out of 5)100
1.08% MMA with East Boston Savings Bank
1.080%
08/23/2016
1.070%
$2,500.00
Balances equal to or greater than 10,000 and less than 2,000,000 
AloStar Bank of Commerce

★★★★  (4 out of 5)100
1.05% Savings with AloStar Bank of Commerce
1.050%
08/23/2016
1.040%
$50.00
 
Goldman Sachs Bank USA

★★★★★  (5 out of 5)100
1.05% Savings with Goldman Sachs Bank USA
1.050%
08/23/2016
1.040%
$0.00
 
Pacific National Bank

★★★★  (4 out of 5)100
1% MMA with Pacific National Bank
1.000%
08/23/2016
1.000%
$100.00
 
Radius Bank

★★★  (3 out of 5)100
1% Savings with Radius Bank
1.000%
08/23/2016
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%
08/23/2016
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%
08/23/2016
1.000%
$1.00
12 month CD 1.25% APY*,FDIC insured, open online or by mail. 
CIT Bank

  (NR out of 5)100
0.95% Savings with CIT Bank
0.950%
08/23/2016
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%
08/23/2016
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%
08/23/2016
0.900%
$100.00
 
Colorado Federal Savings Bank

★★★  (3 out of 5)100
0.85% Savings with Colorado Federal Savings Bank
0.850%
08/23/2016
0.850%
$2,500.00
 
My Savings Direct

★★★★  (4 out of 5)100
0.85% Savings with My Savings Direct
0.850%
08/23/2016
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%
08/23/2016
0.810%
$1,000.00
 
Discover Bank

★★★★★  (5 out of 5)100
0.8% MMA with Discover Bank
0.800%
08/23/2016
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%
08/23/2016
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%
08/23/2016
0.800%
$100.00
 
Capital One 360

★★★★★  (5 out of 5)100
0.75% Savings with Capital One 360
0.750%
08/23/2016
0.750%
$0.00
 
VirtualBank

★★★★  (4 out of 5)100
0.65% MMA with VirtualBank
0.650%
08/23/2016
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%
08/23/2016
0.600%
$100.00
 
AloStar Bank of Commerce

★★★★  (4 out of 5)100
0.5% MMA with AloStar Bank of Commerce
0.500%
08/23/2016
0.500%
$1,000.00
 
California First National Bank

★★★★  (4 out of 5)100
0.5% MMA with California First National Bank
0.500%
08/23/2016
0.500%
$5,000.00
 
giantbank.com

★★★★  (4 out of 5)100
0.45% MMA with giantbank.com
0.450%
08/23/2016
0.450%
$1,000.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.3% MMA with State Farm Bank
0.300%
08/23/2016
0.300%
$1,000.00
 
Goldwater Bank

★★★★  (4 out of 5)100
0.26% MMA with Goldwater Bank
0.260%
08/23/2016
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%
08/23/2016
0.200%
$25,000.00
 
NewDominion Bank

  (1 out of 5)100
0.15% MMA with NewDominion Bank
0.150%
08/23/2016
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%
08/23/2016
0.100%
$1,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.1% Savings with Applied Bank
0.100%
08/23/2016
0.100%
$100.00
 
State Farm Bank

★★★★  (4 out of 5)100
0.1% Savings with State Farm Bank
0.100%
08/23/2016
0.100%
$100.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% Savings with Astoria Bank
0.050%
08/23/2016
0.050%
$500.00
 
Astoria Bank

★★★  (3 out of 5)100
0.05% MMA with Astoria Bank
0.050%
08/23/2016
0.050%
$2,500.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% MMA with Citizens Trust Bank
0.050%
08/23/2016
0.050%
$100.00
 
Citizens Trust Bank

★★★  (3 out of 5)100
0.05% Savings with Citizens Trust Bank
0.050%
08/23/2016
0.050%
$1,000.00
 
USAA

★★★★★  (5 out of 5)100
0.05% Savings with USAA
0.050%
08/23/2016
0.050%
$25.00
 
USAA

★★★★★  (5 out of 5)100
0.05% MMA with USAA
0.050%
08/23/2016
0.050%
$10,000.00
 
Applied Bank

★★★★★  (5 out of 5)100
0.02% MMA with Applied Bank
0.020%
08/23/2016
0.020%
$500.00
 
American Bank

★★★★  (4 out of 5)100
0.1% Savings with American Bank
0.100%
08/17/2016
0.100%
$100.00
 
American Bank

★★★★  (4 out of 5)100
0.1% MMA with American Bank
0.100%
08/17/2016
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.



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

Hopes were high for savers late last year when the Fed increased the fed funds rate for the first time in nearly a decade. The rate hike of 25 basis points in December 2015 was expected to be the first of many hikes to come. In the Fed’s economic predictions for 2016, a majority of Fed participants expected four rate hikes in 2016. 

Savers finally had reason to be hopeful that deposit rates would move higher in 2016, then came reality. The second rate hike looked like it would happen during the Fed’s March meeting. During the Fed’s March meeting, slowing economies worldwide spooked the markets and the Fed declined to raise the fed funds rate.

The Fed also decided not to hike rates during April meeting due to economic uncertainty. June’s meeting started to look like another rate hike would come but a disappointing jobs report nixed that increase. A mere 38,000 jobs were created in May, much lower than the forecast of 175,000.

The latest disappointing news that will prevent the Fed from hiking the rate is UK voters voting to leave the European Union. Ben Bernanke, the former Fed Chairman, wrote on his Brookings blog “clearly the Fed and other U.S. policymakers will remain cautious until the effects of the British vote are better sorted out.”

There’s no telling how long it will take for the ramifications of Brexit to be fully realized but fed fund rate hikes in 2016 are not going to happen. The latest nail in the coffin for rate hikes will leave savers with the same low deposit rates they have been coping with since the financial crisis of 2007/2008.

On a positive note, savings rates and money market rates haven’t moved lower since the Brexit vote last Thursday. The same can’t be said for U.S. Bond yields. Last Wednesday, 10 year bond yields were at 1.73 percent, yesterday 10 year yields fell to 1.46 percent. Listed below are yesterday’s closing bond yields, the best savings rates and money market rates available in our database of rates.

U.S. Bond Yields as of June 28, 2016

  • 1 month 0.25%
  • 3 months 0.26%
  • 6 months 0.35%
  • 1 year 0.45%
  • 2 year 0.61%
  • 3 year 0.71%
  • 5 year 1.00%
  • 7 year 1.26%
  • 10 year 1.46%
  • 20 year 1.82%
  • 30 year 2.27%

Best Savings Rates as of June 28, 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 USA 1.04% Yield 1.05%
  • Ally Bank 1.00% Yield 1.00%
  • Barclays Bank 1.00% Yield 1.00%
  • Quorum Federal Credit Union 1.00% Yield 1.00%
  • UFB Direct 1.00% Yield 1.00%
  • Radius Bank 1.00% Yield 1.00%
  • iGObanking.com 1.00% Yield 1.00%

Best Money Market Rates as of June 28, 2016

  • EverBank 1.11% Yield
  • Silvergate Bank 1.10% Yield 1.10%
  • Dime Savings Bank of Williamsburgh 1.09% Yield 1.00%
  • Northeast Bank 1.09% Yield 1.10%
  • iGObanking.com 1.09% Yield 1.10%
  • Capital One 1.00% Yield 1.00%
  • Pacific National Bank 1.00% Yield 1.00%

You can search for a list of the highest savings account rates and money market account rates at any time by searching our rate database at Highest Deposit Rates.

 
Author: Brian McKay
June 29th, 2016

The Fed met this past week and declined to raise interest rates, pushing out any increases further out into 2016. When the year started, the Fed expected to raise the fed funds rate four times by the end 2016. There has been only one 1/4 point increase in December 2015 and none since.

There are four scheduled meetings left in 2016 and it’s highly unlikely the Fed will increase the rate in all four meetings. The most recent economic projections released by the Fed last week shows the median forecast for the fed funds rate to be 0.90 percent by the end of 2016. The forecast rate is as low as 0.60 percent and as high as 1.40 percent.

The current fed funds rate is in a targeted range of 0.25 percent to 0.50 percent. If the Fed’s projections are correct, there will only be one or two rate increases in 2016. Of course, any increases will be highly dependent on economic data released in the coming months.

Savings rates and money market rates moved only slightly higher since the December increase. Any further increases will be dependent on a higher fed funds rate. If the fed funds rate is increased to 0.90 percent, the best savings rates and money market rates will head towards 1.50 percent.

Currently, the highest savings rate on our rate table is at 1.10 percent with a yield of 1.11 percent from Silvergate Bank. The highest money market rate on the table is also at 1.11 percent from EverBank. You can search for the best deposit rates by using our variable deposit tables at Best Variable Deposit Rates.

 
Author: Brian McKay
June 20th, 2016