Savings Rates- High Yield Savings Accounts and Money Market Accounts
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.
Listed below are the top savings account rates available on our database for January 11, 2017. The sole leader with the best savings account rate this week is Popular Direct with a rate of 1.14 percent and a yield of 1.15 percent.
Top Savings Rates
Interest rates change constantly, you can always get a list of the most current rates by searching our rate database at Savings Rates.
Another Fed meeting came and went last week with one major difference. The Federal Open Market Committee increased the fed funds rate 25 basis points. This is only the second increase in the past decade. The new target range for the fed funds is 0.50 percent to 0.75 percent.
The rate increase was announced a few days ago and as of this morning, none of the financial institutions in our database increased their rates. There is hope for higher rates, maybe not with this fed rate increase but with future increases.
If rates do move higher we will quickly announce any increases from banks or credit unions.
In additional to increasing the rate this time around, the Fed did something it never has done before. The Fed announced there will likely be three rate increases in 2017 and possibly more if needed. This was a surprise not only because the announcement was made prior to this meeting but also because only one rate increase was expected in 2017.
Three fed funds rate increases in 2017 will likely entice banks and credit unions to increase their deposit rates. Three rate increases will put the top savings rates and money market rates near 2.00 percent.
The current top savings account rate in our database is from Popular Direct at 1.14 percent with a yield of 1.15 percent. The current top money market account rate is at 1.10 percent with a yield of 1.11 percent from EverBank (6 month promo rate/yield).
You can always get a current list of the best savings rates and money market rates by reaching our rate database at Variable Deposit Rates.
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