Certain rates on this table are from BestCashCow.com advertisers.
Compensation may impact the order in which rates appear.
This is to inform our readers that BestCashCow has received compensation for the placement of this bank offer.
If you have your savings dollars in a big bank or a bank with low savings rates, then you are losing money. We've found FDIC insured banks that will pay you more. Take a few minutes to explore the options below and see how you can boost your savings by more than 6X the national average rate. There is competition for your money. Take advantage of it!
You need to specifically indicate what you are applying your money to when you take out an account here. You could make a mistake and put your money on a lesser rate product than what's advertised. Other...
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I have no issues with Bask Bank nor Texas Capital Bank. They provide good apy on savings and CD's, bank to keep funds secured so yes they do have strict security measures but if you don't like it than go ...
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If there were negative stars for customer service, I would have used it. They don't tell you that their "EPIC" money market also charges epic fees - $20.00 per month - negating the interest rate.
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Rate requires download of bank app and recording of over 12,500 average daily steps (or 10,000 if over age of 65).
Rate History: 4.75% → 5.00% → 4.90% → 4.75% → 4.55%
JGothelf | Oct 11, 2022
Glad to have found this one and thanks to bestcashcow for not hiding the best rates like bankrate does
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This is the worst bank I’ve ever had the displeasure of using. Horrible customer service after hours or on weekends and they just will not invest the capitol to ensure their customers can speak to a repr...
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Rate guaranteed from opening for 180 days.
Rate History: 5.50% → 4.50%
denied_soft_credit_pull | Jan 10, 2024
Applied for the Joint 5.50% Hi Yield Savings special. (Note: some places reference it is guaranteed for 6 months, other parts of website only guarantee rate for 3 months). We applied and surprising denied ...
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I found CFG Bank while searching for high APYs and went with them since they consistently offers some of the best rates in the country. I’ve had a great experience with my personal money market account. ...
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Promotional rate for 3 months up to $11,000.
Rate History: 5.00% → 4.75% → 5.00% → 4.50% → 4.35%
Azoic | Feb 25, 2022
I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account.
Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary.
Accelerate Savings w...
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I have banked with Umpqua in Gig Harbor since 2013 and although there money market rates are not good didn’t have much problem until I moved to Spokane and started using this branch on south hill. They ...
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Customer service — unreliable, different CS person gets a different answer. LOB readily accepts your incoming funds, out going of funds the bank puts up a barrage of road blocks. A wire out, a letter FR...
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CF Bank showed good promise as a lender. They have a nice site with a swift intake and origination process. My originator, Dylan, was knowledgeable and a pleasure to work with. I unfortunately can’t g...
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After purchasing more than 6 homes and going through more than a dozen refinancing processes, I must say that this is the worst company I have ever had the misfortune of dealing with. It took these clowns ...
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Multiple roadblocks trying to set up a savings account with Forbright and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and ...
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I was told on the phone by a bank rep that my present money market acct interest rate would continue at 2.25% until June 30, 2020 and would be FDIC covered up to $250,000. Please verify if this is true???...
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I have banked with Umpqua in Gig Harbor since 2013 and although there money market rates are not good didn’t have much problem until I moved to Spokane and started using this branch on south hill. They ...
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Fully functional bank account that would be great for my needs, but the quarterly interest payment thing is a real nuisance. I wish they would change it. It isn't market.
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I been with trustco for years and it is well run. They really are a home town bank. As a small business person i appreciate the business card stand they have in the branches for there customers. I was w...
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I had a personal checking account and a business account. All went well until I sent a polite letter pointing out that it is improper, and not good practice, to make online passwords expire. Why should ...
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The employees of this bank are helpful but the bank's systems and procedures for obtaining your account information STINK. If you want a bank that provides you quarterly (or even annual) statements by mai...
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Terrible bank. Terrible service. Not equipped to service customers outside Florida. Plays games with your taxes by issuing 1090s whenever. Really shouldn't be on this list or your radar. Avoid.
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Multiple roadblocks trying to set up a savings account with Forbright and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and ...
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Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although...
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Here's what you will need:
To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this ap...
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Another bad bank! Did a hard pull just to open a checking account with no overdraft and denied me. Never even bothered to send a letter or e-mail. Now I have another inquiry on my credit report for nothin...
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Not at all happy with Truist compared to BB+T. New transaction policy makes them painfully slow. Paying .01 % interest on money market accounts, 13 week T Bill's are around $2.5%.I hope that they are enj...
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Banner bank is sometimes hard to work with. If you have a construction loan to get a disbursement you fill out a sheet with the line item (not a big deal). Then they schedule an inspection that you pay $...
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You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag...
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My favorite bank in South Dennis MA. There are always sufficient enough staff so that there is never a long waiting line. And the staff is always pleasant and efficient.
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HAVE BEEN CALLING YOUR
MORTGAGE DEPARTMENT ON "ITIN" LOANS AND HAVE NOT GOT A HUMAN PERSON TO ANSWER OR
RETURN MY PHONE CALLS.
WHAT IS HAPPEN?
PLEASE ADVISE.
THANK YOU,
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US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov...
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A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ...
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Spencer Bank is by far, the ABSOLUTE WORST Banking institution there is. The Bank - and the Headquarters - display a host of shortcomings and clearly are the most substandard bank - dealing with numerou...
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Here's what you will need:
To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this ap...
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Very corrupt, disorganized company. Associated with Dovenmuehle and or the same company. Extremely poor ratings all over the internet. Should be sued and closed down.
If I could give it -10 stars, that wo...
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Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future.
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Went in to open accounts in Middleboro foy my husband and myself as well as one for my grandson. Without being invited into an office I was asked from across the room if I was opening accounts for the chi...
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Since Hancock Bank merged with Whitney Bank, it’s no longer the local bank it once was. Fees, gotcha gimmicks, underhanded surprises... It’s nothing more than another big, ugly, corporate bank looking ...
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Deceptive Sales Practices: Huge Penalties
What an awakening! Without any clear statement, and nothing at all on its website, Avidia charged us 50% of the CD’s FULL TERM interest, including both paid...
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I bank at this bank and they have the best people working there They all have a lot of knowledge and most all have been there a long time they do a great job and have the highest CD rates around
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Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in oth...
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Hi,
We've noticed your website is at risk due to spammy comments and contact form submissions, making it susceptible to issues like spammy backlinks and data breaches. Don't worry—there's a simple sol...
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You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag...
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Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although...
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The employees of this bank are helpful but the bank's systems and procedures for obtaining your account information STINK. If you want a bank that provides you quarterly (or even annual) statements by mai...
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A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ...
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Expect to not have e-mails responded to properly or phone calls returned. this is the type of institution that you will be dealing with if you go here
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We have been banking with Citizen's First for 4 years. Their branches, service, website, and employee attitudes are and always have been excellent. Their branches are warmly personal with free buttered po...
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ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check.
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I have been with The Mint Ntl Bank for going on the 3rd yr. They have always taken care of my CD investment and changes that come after the maturity (yearly) date. I highly recommend them!
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On September 13th, 2021. I called “SBOK” to verify if the account number matches the business name that is on the check I’ve received. I spoke with a supervisor named Brenda Jones. Brenda informed me...
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After looking around, looks like AlaskaUSA has the better current rate of 2 percent for 5 years. A little more can be obtained at Discover/AAA for a 10 year CD.
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My favorite bank in South Dennis MA. There are always sufficient enough staff so that there is never a long waiting line. And the staff is always pleasant and efficient.
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The worst customer service during covid. I lost my wallet they were nit understanding when things were shutting down. I knew covid was going to be bad and did not want to be around people. They did nit eve...
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Used to be a good bank!! Taking money out of my account for something I did not purchase. This is the second time they did this. They do it on Fridays knowing that no one from the Fraud Department isn't th...
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Spencer Bank is by far, the ABSOLUTE WORST Banking institution there is. The Bank - and the Headquarters - display a host of shortcomings and clearly are the most substandard bank - dealing with numerou...
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Very corrupt, disorganized company. Associated with Dovenmuehle and or the same company. Extremely poor ratings all over the internet. Should be sued and closed down.
If I could give it -10 stars, that wo...
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Used to be a good bank!! Taking money out of my account for something I did not purchase. This is the second time they did this. They do it on Fridays knowing that no one from the Fraud Department isn't th...
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Reduced savings rate from 1.88% to .75% a day after I deposited a substantial amount of money and no notice given or reduction in rate told to me
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Been banking with RCB for 20 years now after today this will probably be my last year I was in a car wreck and my car was a total loss insurance set me a check. When up to the bank to try to catch it so I ...
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While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w...
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after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with...
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This is a true blue community bank. When you call you get people that are able to take action and make decisions. Customer service is number 1. Works great for CDs. They have a nice stand alone buildin...
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All rates listed are Annual Percentage Yield (APY).
The APY rate in a savings account or money market account is a variable rate that is subject to
change at any point. The Min listed is the minimum deposit account balance required to obtain the rate listed.
BestCashCow strives to maintain the most accurate rates.
If you believe a rate is not accurate, please let us know.
FREQUENTLY ASKED QUESTIONS ABOUT LOCAL SAVINGS RATES
Why do savings rates vary so much?
Even though rates are at levels that are historically very low, there is competition for your money. Like any active marketplace, there are buyers and sellers of goods and services at different prices. Banks have different cost structures and they also have different needs for capital. This leads to different rates.
BestCashCow’s surveys show that online banks offer higher savings and CD rates because they have lower expenses from not having to maintain brick-and-mortar locations. Therefore, we strongly recommend that all depositors consider the rates at online banks as savings and money market accounts online can easy be set up to enable quick transfers to your favorite local bank.
What is the difference between a savings account and a money market account?
The differences between a savings account and a money market account are largely arcane. Some money market accounts offer more ways access deposits by issuing checks and debit cards, but prudent consumers will compare the two interchangeably, focusing primarily on rates and service among FDIC-insured banks (or NCUA-insured, for credit unions). Most savvy consumers who plan their expenses and financial needs ahead find the additional functionality offered by money markets to be of little value and will choose whichever account (savings or money market) has the higher rate.
What does annual percentage yield (APY) mean?
Savings rates are displayed in terms of APY to indicate the effective annual-interest return, including the compounding of interest, of the course of a single year. $100,000 deposited in a savings or CD account with a 1.20% APY will earn $1,200 in the course of the year, but monthly interest in the first few months may be less than $100 a month (this also depends on the number of days in the month). Hence, the APY rate is ordinarily a couple of basis points above the real interest rates. Unlike with a Certificate of Deposit, your actual APY in a savings may vary if the rate changes.
How do I choose the right savings account and should I consider CDs?
Begin your search with the table here on BestCashCow.com that you have found.
In addition to checking online savings rates, you should also check local bank rates and local credit union rates.
If you are unlikely to require access to your cash for some time, you may also consider certificates of deposit (CDs).
While CDs have penalties for early withdrawal that may even eat into your principal, the rates on 2, 3, 4 and 5 year CDs are ordinarily significantly higher than savings rates.
Several other sections and articles on BestCashCow can also help you to identify your proper cash allocation between savings and CDs. Access these below. You should also familiarize yourself with our Savings & CD Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.
8 POINT CHECKLIST FOR A GREAT BANKING RELATIONSHIP WITH YOUR LOCAL BANK
Find a bank with a location convenient to you. Location counts.
Choose a bank with good rates. Rates are important to get continued growth of your capital.
Choose a bank with an extensive network of fee-free ATM machines or which reimburses out-of-network ATM fees, if you still need to regularly access cash.
Avoid fees. Choose a bank which doesn’t have service fees provided you maintain a certain balance, which doesn’t charge for ACH inbound and outbound transfers, and which has low fees for things like international wire transfers and bounced checks.
Choose a healthy bank. If you click on a bank above, you’ll be taken to the bank’s financial detail. A healthy bank has happy employees and provides loyal service to its customers. No matter how healthy your bank is, stay within FDIC insurance limits.
Find something of value to offset what may be slightly lower rates than online accounts offer. Develop personal relationship with your bankers. Personal relationships can help you to get appropriate financial advice, and to navigate financial challenges and needs in the future. (Be careful with the financial advice you receive. Inappropriate financial advice is worth a lot less than no financial advice.) They can also put you in touch with others in your community who could be valuable personally and professionally to know. If you don't use your local savings account as an opportunity to build these relationships, you may find that you are better of banking online.
Choose a bank that is going to let you access your cash when you need. The great benefit of savings accounts over any other financial product (including CDs) is that you have absolute liquidity. If your bank in creating impediments to accessing your cash (paperwork, fees, etc.), then you need another bank.
Be aware that you can have more than one account. Having a great local savings account at a large or small bank near you can be great, but it doesn't need to stop you from opening one or more online savings accounts, or even developing a relationship with another local bank or credit union.
SAVINGS & CD CALCULATOR
Find out how much extra money you can earn
by moving your bank money into an account that pays more.
