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Top Deposit Rates Still Offered by Online Banks

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Average savings rates and money market rates continue to fall ever so slightly this month. While average rates have moved lower, savvy savers can find deposit rates much higher than the averages. The best rate deals these days are from online banks which offer rates much higher than the averages and much higher than traditional brick and mortar banks.

The national average savings rate/money market rate this week as reported by is at 0.45 percent. The FDIC national average rate is much lower at 0.06 percent. The FDIC's national average money market rate is slightly higher at 0.08 percent. Compare these rates to the best savings rates and money market rates offered on our rate tables this week.

Best Savings Rates

  • GE Capital Bank 0.95%

  • CIT Bank 0.95%

  • Synchrony Bank 0.95%

  • Barclays Bank 0.90%

  • Ally Bank 0.87%

  • Discover Bank 0.85%

  • First Trade Union Bank 0.85%

  • Colorado Federal Savings Bank 0.85%

  • TIAA Direct 0.80%

  • FNBO Direct 0.75%

Best Money Market Rates

  • EverBank 1.01% APY (first year)

  • Salle Mae 0.90%

  • 0.90%

  • First Internet Bank of Indiana 0.80%

  • EH National Bank 0.80%

  • ableBanking, a division of Northeast Bank 0.80%

  • Bank of Internet USA 0.75%

  • Discover Bank 0.70%

  • VirtualBank 0.65%

Author: Brian McKay
August 14th, 2014