Grand Rapids, Minnesota (MN) Savings Rates - March 2026
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The savings rates displayed are actual, verified rates sourced directly from the official websites of banks and credit unions. Our editorial content is independent of any advertiser relationships.
The best savings rates for Grand Rapids, Minnesota and the surrounding area include Grand Rapids SBGrand Rapids SB523 Nw 1st Ave, Grand Rapids, MN 55744A5.0 ★Texas Ratio: 9.12% Education Savings at 4.33% APY, Members Cooperative Credit UnionMembers Cooperative Credit Union18 NW 4th St, Grand Rapids, MN 55744A5.0 ★Texas Ratio: 12.23% Boosted Savings at 2.00% APY, Woodland BankWoodland Bank2610 S Highway 169, Grand Rapids, MN 55744A+5.0 ★Texas Ratio: 3.91% Health Savings Account (HSA) at 0.20% APY, Affinity Plus Federal Credit UnionAffinity Plus Federal Credit Union2120 SE 2nd Ave, Grand Rapids, MN 55744 4296A+5.0 ★Texas Ratio: 5.62% Wincentive® Savings Account at 0.10% APY, and Wells FargoWells Fargo220 Nw 1st Ave, Grand Rapids, MN 55744A5.0 ★Texas Ratio: 7.44% Platinum Savings at 0.05% APY. Savings rates as of March 28, 2026 according to verified data from MonitorBankRates.
To see how these savings rates in Grand Rapids, Minnesota, and the surrounding area, compare, use our comprehensive tables below for side-by-side comparisons to find the best savings rates available. Rates in Grand Rapids, Minnesota (MN) are continually updated — we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Grand Rapids, Minnesota and the surrounding area. Last Updated and Verified: March 28, 2026
Compare the Best Savings Rates in Grand Rapids, Minnesota & Surrounding Communities
Source: Verified Savings Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Education Savings
4.33%
$0
▼
Rate4.25%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Members Cooperative Credit Union
Institution Rating:
A5.0 ★Texas Ratio: 12.23%
18 NW 4th St, Grand Rapids, MN 55744
Boosted Savings
2.00%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 20, 2026
Details
As high as
Woodland Bank
Institution Rating:
A+5.0 ★Texas Ratio: 3.91%
2610 S Highway 169, Grand Rapids, MN 55744
Health Savings Account (HSA)
0.20%
$0
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Money Market Plus Savings
0.15%
$0
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Money Market Plus Savings
0.12%
$0
▼
Rate0.12%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Affinity Plus Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.62%
2120 SE 2nd Ave, Grand Rapids, MN 55744 4296
Wincentive® Savings Account
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
All balances
Affinity Plus Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.62%
2120 SE 2nd Ave, Grand Rapids, MN 55744 4296
Shares II Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
All balances
Affinity Plus Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.62%
2120 SE 2nd Ave, Grand Rapids, MN 55744 4296
Membership Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
All balances
Affinity Plus Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.62%
2120 SE 2nd Ave, Grand Rapids, MN 55744 4296
Business Shares II
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
Affinity Plus Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.62%
2120 SE 2nd Ave, Grand Rapids, MN 55744 4296
Business Shares
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
Woodland Bank
Institution Rating:
A+5.0 ★Texas Ratio: 3.91%
2610 S Highway 169, Grand Rapids, MN 55744
Health Savings Account (HSA)
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Business Funds Management Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Money Market Plus Savings
0.10%
$0
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Money Market Plus Savings
0.08%
$0
▼
Rate0.08%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Money Market Savings
0.08%
$0
▼
Rate0.08%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Wells Fargo
Institution Rating:
A5.0 ★Texas Ratio: 7.44%
220 Nw 1st Ave, Grand Rapids, MN 55744
Platinum Savings
0.05%
$25
▼
Rate0.05%
Min Deposit$25
Min Balance—
UpdatedMar 22, 2026
Details
Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.; $25 minimum opening deposit
Woodland Bank
Institution Rating:
A+5.0 ★Texas Ratio: 3.91%
2610 S Highway 169, Grand Rapids, MN 55744
Health Savings Account (HSA)
0.05%
$0
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Wells Fargo
Institution Rating:
A5.0 ★Texas Ratio: 7.44%
220 Nw 1st Ave, Grand Rapids, MN 55744
Retirement High Yield Savings
0.05%
$0
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Woodland Bank
Institution Rating:
A+5.0 ★Texas Ratio: 3.91%
2610 S Highway 169, Grand Rapids, MN 55744
Passbook Savings
0.05%
$0
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Grand Rapids SB
Institution Rating:
A5.0 ★Texas Ratio: 9.12%
523 Nw 1st Ave, Grand Rapids, MN 55744
Regular Savings
0.03%
$0
▼
Rate0.03%
Min Deposit$0
Min Balance—
UpdatedMar 23, 2026
Details
Wells Fargo
Institution Rating:
A5.0 ★Texas Ratio: 7.44%
220 Nw 1st Ave, Grand Rapids, MN 55744
Platinum Savings
0.02%
$25
▼
Rate0.02%
Min Deposit$25
Min Balance—
UpdatedMar 22, 2026
Details
Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.; $25 minimum opening deposit
Wells Fargo
Institution Rating:
A5.0 ★Texas Ratio: 7.44%
220 Nw 1st Ave, Grand Rapids, MN 55744
Platinum Savings
0.01%
$25
▼
Rate0.01%
Min Deposit$25
Min Balance—
UpdatedMar 22, 2026
Details
Avoid the $12 monthly service fee with a $3,500 minimum daily balance each fee period.; $25 minimum opening deposit
Wells Fargo
Institution Rating:
A5.0 ★Texas Ratio: 7.44%
220 Nw 1st Ave, Grand Rapids, MN 55744
Way2Save® Savings
0.01%
$25
▼
Rate0.01%
Min Deposit$25
Min Balance—
UpdatedMar 22, 2026
Details
$25 minimum opening deposit
Fidelity Bank & Trust (IA)
Institution Rating:
A+5.0 ★Texas Ratio: 1.72%
205 Main St, Frost, MN 56033
Snap $tack Savings
5.12%
$1,000
▼
Rate5.00%
Min Deposit$1,000
Min Balance—
UpdatedMar 25, 2026
Details
Qualifying balance up to $5,000.00
Genisys Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.03%
3300 Central Park Village Dr, Eagan, MN 55121 7707
High Yield Youth Savings
5.12%
$0
▼
Rate5.00%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details
Qualifying balance up to $500.00
PSB of Plainview
Institution Rating:
A+5.0 ★Texas Ratio: 4.73%
100 4th Ave Se, Plainview, MN 55964
Peoples Preferred Savings
5.00%
$25
▼
Rate4.89%
Min Deposit$25
Min Balance—
UpdatedMar 28, 2026
Details
Qualifying balance up to $25,000.00
West Metro Schools Credit Union
Institution Rating:
A5.0 ★Texas Ratio: 7.84%
1001 Highway 7, Hopkins, MN 55305
Holiday Savings
5.00%
$0
▼
Rate5.00%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
max $300 deposit per month
Ultima Bank Minnesota
Institution Rating:
A+5.0 ★Texas Ratio: 4.29%
9 W Minnesota Ave, Winger, MN 56592
SMART Savings
4.32%
$0
▼
Rate4.25%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Southpoint Financial Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 2.84%
920 Main St E, Sleepy Eye, MN 56085 4380
EzMoney Savings
4.07%
$0
▼
Rate4.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Qualifying balance up to $5,000.00
Southpoint Financial Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 2.84%
920 Main St E, Sleepy Eye, MN 56085 4380
EzMoney Savings+
4.07%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Drake Bank
Institution Rating:
A+5.0 ★Texas Ratio: 2.27%
60 Plato Blvd E, Saint Paul, MN 55107
Little Drake Savings
4.07%
$0
▼
Rate4.00%
Min Deposit$0
Min Balance—
UpdatedMar 16, 2026
Details
Qualifying balance up to $1,000.00
Drake Bank
Institution Rating:
A+5.0 ★Texas Ratio: 2.27%
60 Plato Blvd E, Saint Paul, MN 55107
Investor Savings
3.92%
$0
▼
Rate3.85%
Min Deposit$0
Min Balance—
UpdatedMar 16, 2026
Details
FSB of Rosemount
Institution Rating:
F2.5 ★Texas Ratio: 45.47%
3025 145th St W, Rosemount, MN 55068
Elite Savings
3.82%
$0
▼
Rate3.75%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details
Pioneer Bank Mapleton, MN
Institution Rating:
A-5.0 ★Texas Ratio: 14.28%
301 Main St E, Mapleton, MN 56065
Platinum Plus Savings
3.82%
$5,000
▼
Rate3.75%
Min Deposit$5,000
Min Balance—
UpdatedMar 25, 2026
Details
$10,000,000 3.00% Under Prime
FSB of Rosemount
Institution Rating:
F2.5 ★Texas Ratio: 45.47%
3025 145th St W, Rosemount, MN 55068
Elite Business Savings
3.82%
$0
▼
Rate3.75%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details
Ultima Bank Minnesota
Institution Rating:
A+5.0 ★Texas Ratio: 4.29%
9 W Minnesota Ave, Winger, MN 56592
UBM Direct Savings
3.75%
$0
▼
Rate3.69%
Min Deposit$0
Min Balance—
UpdatedMar 22, 2026
Details
Genisys Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.03%
3300 Central Park Village Dr, Eagan, MN 55121 7707
Business High Yield Savings Account
3.75%
$0
▼
Rate3.69%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details
MidWestOne Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.78%
1650 Lake St S, Forest Lake, MN 55025
High-Yield Savings
3.60%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Contact your local banker for more details!
Bell Bank
Institution Rating:
A+5.0 ★Texas Ratio: 2.41%
1018 Hobart St, Hawley, MN 56549
IRA Variable Rate Savings
3.56%
$50
▼
Rate3.50%
Min Deposit$50
Min Balance—
UpdatedMar 16, 2026
Details
The Huntington National Bank
Institution Rating:
A+5.0 ★Texas Ratio: 4.60%
24231 Front St, Grand Rapids, OH 43522
High-Yield Savings
3.55%
$5,000
▼
Rate0.00%
Min Deposit$5,000
Min Balance—
UpdatedMar 27, 2026
Details
Minimum of $5,000 not currently deposited at Huntington.
PSB of Plainview
Institution Rating:
A+5.0 ★Texas Ratio: 4.73%
100 4th Ave Se, Plainview, MN 55964
Peoples Preferred Savings
3.51%
$1,000
▼
Rate3.45%
Min Deposit$1,000
Min Balance—
UpdatedMar 28, 2026
Details
Fairmont School Employees Federal Credit Union
Institution Rating:
A5.0 ★Texas Ratio: 7.99%
110 Eltinge Pl, Fairmont, MN 56031 3423
Share Savings Account
3.50%
$0
▼
Rate3.50%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details
At the December board meeting, it was voted by the board to raise our dividend rate to 3.50%.
South Metro Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.00%
2573 Credit Union Dr, PRIOR LAKE, MN 55372
Money Market Savings
3.40%
$2,500
▼
Rate3.36%
Min Deposit$2,500
Min Balance—
UpdatedMar 28, 2026
Details
Mayo Employees Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.10%
130 23rd Ave SW, Rochester, MN 55902
Premium Money Market Savings
3.40%
$1,000,000
▼
Rate3.36%
Min Deposit$1,000,000
Min Balance—
UpdatedMar 27, 2026
Details
Mid Minnesota Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.30%
13283 Isle Dr, Baxter, MN 56425 8554
High Yield Savings Account
3.40%
$75,000
▼
Rate0.00%
Min Deposit$75,000
Min Balance—
UpdatedMar 28, 2026
Details
APY accurate as of 1/1/2026 and may change after account opening. Opening balance of High Yield Savings Account is $75,000. High Yield Savings Account (HYSA)
Mid Minnesota Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.30%
13283 Isle Dr, Baxter, MN 56425 8554
High Yield Savings
3.40%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Mid Minnesota Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.30%
13283 Isle Dr, Baxter, MN 56425 8554
Estate Savings
3.39%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Mid Minnesota Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.30%
13283 Isle Dr, Baxter, MN 56425 8554
High Yield Savings
3.25%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Ideal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.40%
8499 Tamarack Rd, Woodbury, MN 55125 9201
High Yield Savings
3.20%
$0
▼
Rate3.15%
Min Deposit$0
Min Balance—
UpdatedMar 27, 2026
Details
Ideal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.40%
8499 Tamarack Rd, Woodbury, MN 55125 9201
High Yield Savings
3.10%
$0
▼
Rate3.05%
Min Deposit$0
Min Balance—
UpdatedMar 27, 2026
Details
Mayo Employees Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 0.10%
130 23rd Ave SW, Rochester, MN 55902
Premium Money Market Savings
3.05%
$750,000
▼
Rate3.02%
Min Deposit$750,000
Min Balance—
UpdatedMar 27, 2026
Details
Building Trades Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 1.14%
12080 73rd Ave N, Maple Grove, MN 55369
MONEY MARKET SAVINGS
3.04%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 16, 2026
Details
Mid Minnesota Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.30%
13283 Isle Dr, Baxter, MN 56425 8554
YES (Youth Education Savings)
3.00%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Qualifying balance up to $500.00
Mid Minnesota Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.30%
13283 Isle Dr, Baxter, MN 56425 8554
Youth Education Savings (YES) Account
3.00%
$0
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Qualifying balance up to $500.00
Toro Employees Federal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 3.15%
8111 Lyndale Ave S, Bloomington, MN 55420
IRA SAVINGS (Traditional, Roth, or Educational)
3.00%
$2,500
▼
Rate2.96%
Min Deposit$2,500
Min Balance—
UpdatedMar 22, 2026
Details
Ideal Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 5.40%
8499 Tamarack Rd, Woodbury, MN 55125 9201
High Yield Savings
3.00%
$0
▼
Rate2.95%
Min Deposit$0
Min Balance—
UpdatedMar 27, 2026
Details
SharePoint Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.61%
3670 AQUILA AVE S, SAINT LOUIS PARK, MN 55426
eSavings
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Qualifications Required: 50 minimum direct deposit per month; enroll in online banking; Intro rate expires: 24; Qualifying balance up to $10,000.00
SharePoint Credit Union
Institution Rating:
A+5.0 ★Texas Ratio: 4.61%
3670 AQUILA AVE S, SAINT LOUIS PARK, MN 55426
eSavings^ - Introductory Rate
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details
Qualifications Required: monthly direct deposit; Balances above $10,000 will earn the going rate on the Secondary Savings, currently 0.10% APY.
Baxter Credit Union
Institution Rating:
A5.0 ★Texas Ratio: 7.73%
2 Scimed Pl, Maple Grove, MN 55311 1565
SafeGuard Savings, Consumer
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
Baxter Credit Union
Institution Rating:
A5.0 ★Texas Ratio: 7.73%
2 Scimed Pl, Maple Grove, MN 55311 1565
SafeGuard Savings, Municipal
3.00%
$0
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details
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The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Grand Rapids, MN Savings Rate Trends
Compare local Grand Rapids, MN savings rate quotes against the statewide average
Weekly savings rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
High-Yield Savings — MN Avg
1.332%
▼ 1.265 from last week
Minnesota high-yield savings rates fell 1.265 points this week to 1.332% APY, down from 2.597% last week.
Standard Savings — MN Avg
0.418%
▲ 0.031 from last week
Minnesota standard savings rates rose 0.031 points this week to 0.418% APY, up from 0.386% last week.
As of Mar 28, 2026 •
Rate data sourced from 8,500+ monitored institutions
Powered by MonitorBankRates
Methodology & Data Sources
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Grand Rapids, Minnesota directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every savings rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Grand Rapids, Minnesota. We feature a comprehensive mix of institutions — from neighborhood credit unions and competitive regional banks to large national institutions available to savers in MN.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Because savings account yields can fluctuate rapidly, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Savings Accounts in Grand Rapids, Minnesota
What is a High-Yield Savings Account (HYSA)?
A High-Yield Savings Account (HYSA) typically pays significantly higher interest than standard accounts at national brick-and-mortar banks. These accounts, often found at online banks or local credit unions in Minnesota, help your money grow faster through a higher APY.
Are savings accounts in Grand Rapids, Minnesota safe?
Yes, as long as the institution is FDIC insured (for banks) or NCUA insured (for credit unions). This provides federal protection for your deposits in Minnesota up to $250,000 per depositor, per institution.
How often do savings rates change in Grand Rapids, Minnesota?
Savings rates are variable and can change at any time based on market conditions and Federal Reserve decisions. We update our local Minnesota rate tables daily to ensure you see the most current high-yield options.
Do I need a minimum deposit to open a savings account?
It depends on the bank. Many online high-yield savings accounts have no minimum deposit requirement, while some traditional banks in Grand Rapids, Minnesota may require $25–$100 to open an account.
What is the difference between a Savings Account and a Money Market Account?
Both pay interest and are federally insured. Money Market Accounts (MMAs) often come with check-writing privileges or a debit card, making them more flexible, whereas standard savings accounts typically do not.
Are online banks better than local banks in Grand Rapids, Minnesota?
Online banks often offer higher APYs because they have lower overhead costs. However, local banks in Grand Rapids, Minnesota offer in-person customer service, which some customers prefer.
How do I open a savings account in Grand Rapids, Minnesota?
You can open a savings account online or in-person. You will generally need a government-issued ID, your Social Security number, and an initial deposit to get started.
Best Savings Rates in Grand Rapids, Minnesota
Here are recent savings rates observed in Grand Rapids, Minnesota and the surrounding area:
- Grand Rapids SB
Education Savings — 4.33% APY - Members Cooperative Credit Union
Boosted Savings — 2.00% APY - Woodland Bank
Health Savings Account (HSA) — 0.20% APY - Affinity Plus Federal Credit Union
Wincentive® Savings Account — 0.10% APY - Wells Fargo
Platinum Savings — 0.05% APY
Savings Rates reflect actual verified offers from banks and credit unions actively accepting deposits in Grand Rapids, Minnesota. Your final available rate may depend on deposit amount and daily market movements. Last Updated and Verified: March 28, 2026
