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!
Growth Savings rate for new customers. The rate for existing customers is 3.85% APY. Rate History: 4.60% → 4.25% → 4.00% → 3.85% → 4.15%
John N. Maclean | Jul 5, 2024
I took out a substantial CD with Forbright, a small bank that tries hard. At the time, it was the highest rate around. The bank officer I dealt with most, Walid, knocked himself out to be helpful and get t...
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Online Savings Account. Account is indicated as not currently available to new customers, but bank accepts new customers who sign up to be notified after 1-2 weeks.
Last change: ↓0.10% on May 12.
Rate History: 4.20% → 4.20% → 4.20% → 4.20% → 4.10%
louise k | Feb 16, 2026
Put my name on the waiting list and got contacted 72 hours later. Opened account and now I am getting 4.20%.
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These people SUCK!!!!! After days of jumping through hoops proving I am a citizen; have a valid driver's license; pay my bills on time; etc. they declined my application and would NOT give a reason. I got...
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Parent seems to be owned by a large Chilean bank. Not saying this is good or bad, but it is complication, especially in the current environment.
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I've been with this bank for 6 months and have not had any problems. Bill pay works good. The 24 month investing CD is another vechile I use. Rates are above average considering the national rate. I'd reco...
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Surge Money Market. Bank reports that this rate is available for new accounts only. External transfers are limited to $5,000/day and are not free. Rate History: 4.40% → 4.35% → 4.22% → 4.10% → 4.00%
Jason T | May 30, 2023
They really do pay this amount, but the account lacks any functionality and they are constantly looking for some sort of add-on fee to enable them to claw back the interest. Any bank with a higher rate an...
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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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LevelUp Savings Account. Requires direct deposit of at least $250/month. Bank's standard online savings rate is 3.30% APY.
Last change: ↑0.18% on February 18.
Rate History: 4.00% → 3.82% → 4.00% → 3.82% → 4.00%
jaydub | Aug 18, 2025
Sophomoric as hell. I opened a LevelUp account for the 4.40% rate (now 4.20%). Rate requires automatic $250 deposit each month which I made, but I now realized that I never got that rate. Customer servic...
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Online transfers limited to $1,500 per day and $10,000 per month. Rate History: 4.00% → 4.00% → 4.00% → 4.00% → 4.00%
AEM | Sep 18, 2023
I agree with another user, this bank is very poorly put together, and may very well be an operation in large part used to extract and sell people's personal information. I called customer service and had ...
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And I discovered that they play bait and switch and have no problems lying. This system won't let me give it zero or negative stars so I have given it one, but that is at least one too many.
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High-Yield Savings Account. Outbound transfers limited to $10,000/day or less.
Last change: ↓0.05% on June 26.
Rate History: 4.05% → 4.00% → 4.00% → 4.00% → 3.95%
lrcbob | Jul 26, 2024
Multiple roadblocks trying to set up a savings account with Bread Financial, even though I already have a CD with them. My application was ultimately declined, in spite of my multiple CDs among three banks...
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Performance Savings
Last change: ↓0.15% on December 23, 2025.
Rate History: 4.75% → 4.40% → 4.30% → 4.05% → 3.90%
smithy1968 | Mar 20, 2025
A non-customer-friendly organization that just switches between two contaminated brands trying to bring back some sort of goodwill that it had before it started selling fake foreign currency CDs in 2006 an...
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Direct Savings. Bank reports that this rate is available for new accounts only.
Last change: ↓0.10% on December 15, 2025.
Rate History: 4.05% → 4.10% → 4.05% → 4.00% → 3.90%
Neil | Dec 18, 2023
I submitted a CD application 18 months 5.50 APY over a week ago and my application was declined no reason was given, I have the funds in another bank for transfer, credit score over 800. I think the reason...
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not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online b...
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STAY AWAY !
They closed my accounts with no warning.
After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. No...
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We would not be having all this trouble with people sealing money out of other people's bank accounts if we were to just stop using fancy banking like onlinebanki
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Promotional rate for 3 months up to $11,000. Requires $25,000 in new deposits within 10 days of registration. After 3 month promotional period, rate reverts to between 0.03% and 0.12%. Rate History: 4.35% → 4.25% → 3.50% → 3.75% → 3.75%
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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Sallie mae is just a horrible institution. We've done business with them before and swore on the holy bible not to go near there again, but a 18 mos cd at 5.55% brought us back.
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Personal Savings Account.
Last change: ↓0.15% on March 23.
Rate History: 4.50% → 4.15% → 4.05% → 3.90% → 3.75%
JBaker65 | May 6, 2023
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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Echoing the other negative reviews here. Avoid because rate is bait-and-switch, website is awful and service is not acceptable (provided by offshore reps who barely speak English, raise their voice and ad...
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External outbound transfers are limited to $25,000 per day.
Last change: ↓0.20% on December 12, 2025.
Rate History: 4.20% → 4.10% → 4.02% → 3.95% → 3.75%
Opened an account with Bask several years ago for all of American Airlines miles when rates were close to zero. At some point I switched to an interest bearing account and then at some point I moved to an...
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Platinum Savings. Bank reports that this rate is available for new accounts only.
Last change: ↓0.10% on November 25, 2025.
Rate History: 4.30% → 4.10% → 4.00% → 3.85% → 3.75%
RTN1949 | Jun 2, 2022
I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a...
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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). Customers maintaining $5,000 in a checking account may qualify for 4.50% rate.
Last change: ↓0.25% on July 6.
Rate History: 4.50% → 4.45% → 4.20% → 4.00% → 3.75%
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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Barclays is the worst. Transfer speeds even worse than Synchrony now. Service is worse than anything. Save yourself the trouble of getting sucked into rates that are sometimes competitive and choose anythi...
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Jumbo Savings.
Last change: ↓0.10% on March 23.
Rate History: 4.15% → 4.05% → 3.85% → 3.75% → 3.65%
BW | Jul 17, 2021
I've been with this bank for 6 months and have not had any problems. Bill pay works good. The 24 month investing CD is another vechile I use. Rates are above average considering the national rate. I'd reco...
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High Yield Savings Account.
Last change: ↓0.19% on March 23.
Rate History: 4.37% → 4.26% → 4.15% → 3.80% → 3.61%
Yat 1965 | Mar 19, 2022
Problem with ties to puppy mills. I closed a cct. https://www.americanbanker.com/news/tab-bank-dragged-into-seedy-world-of-puppy-mill-loans-by-fintech-partner
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Poor service. Condescending attitude.
Savings application denied without giving reason (Equifax file had a freeze because of hacking history) and not advising customer of need to unfreeze credit file for a...
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Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent...
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Bank reports that this rate is for new customers only. Bank also charges ACH transfer fees and routinely lowers rates for existing customers below those advertised.
Last change: ↓0.10% on March 16.
Rate History: 4.01% → 3.81% → 3.71% → 3.61% → 3.51%
LarryMass | Dec 8, 2020
Everyone here in Boston raves about Salem Five but it is shithole operation filled with nasty entitled people. As for this online savings product, the fees are ridiculous, the transfer charges are obnoxiou...
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Sallie mae is just a horrible institution. We've done business with them before and swore on the holy bible not to go near there again, but a 18 mos cd at 5.55% brought us back.
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Money Market Account. Bank does not offer ACH processing; customers need to initiate ACH externally. Rate History: 4.50% → 4.25% → 4.00% → 3.75% → 3.50%
65JimmyJay | Dec 12, 2022
Developed buyers remorse after they stopped raising the rate and switched to Brilliant.
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External transfers are limited to $30,000 per week. Rate History: 4.15% → 4.00% → 3.90% → 3.80% → 3.50%
richardw9 | Jan 30, 2025
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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Money Market Premier. Bank reports that this rate is for new customers only. Rate History: 3.50% → 3.40% → 4.00% → 3.75% → 3.50%
Mike Brown | Jul 6, 2023
This is an example of a bad bank. Their online process for purchasing a CD is horrible. You fill it out and it rejects it after all of your private information is disclosed. They there customer service is ...
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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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Account was frozen (over 400K) after they confused our account with another account / person whose name was not even very similar. We were treated like dirt after 12 years and "Guilty until Innocent". I ha...
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Cornerstone Money Market Account. Bank reports that this account is available to new customers only. Old account holders in the savings product are earning 1.10%. Rate History: 3.65% → 3.60% → 3.55% → 3.50% → 3.45%
2 Months with Vio Bank | Sep 4, 2025
And I discovered that they play bait and switch and have no problems lying. This system won't let me give it zero or negative stars so I have given it one, but that is at least one too many.
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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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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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MySavings Account.
Last change: ↓0.40% on December 22, 2025.
Rate History: 4.35% → 4.10% → 3.75% → 3.35%
not perfect but | Apr 25, 2023
with all of these online bank, including the well known ones, delaying transfers forever in order to fund these high rates, this one still executes inbound and outbound transfers immediately.
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I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games w...
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External transfers may take up to 3 business days and may be limited to $25,000/day.
Last change: ↓0.10% on June 16.
Rate History: 3.65% → 3.50% → 3.50% → 3.40% → 3.30%
mcriss | Oct 23, 2023
Synchrony Bank recently closed 3 of my accounts with them and this decision was completely unwarranted. I had two Guitar Center cards and one Levin Furniture card. I found out about this through a push not...
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UFB High Yield Savings. Bank reports that this rate is for new customers only. Rate History: 3.26% → 3.26% → 3.26% → 3.26% → 3.26%
Miles Jacobsen | Jul 18, 2023
I got into this one back in early April for the rate. It was the first to hit 5%. I put up with all sorts of annoying thing getting the account funded (including a 5-day wait period during which they had...
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eMoneyMarket Special. Bank reports that rate is extended for new money only. Rate History: 3.51% → 3.25% → 3.25% → 3.25% → 3.25%
Hello VirtualBank? | Dec 22, 2018
I know VirtualBank has monitored these comments in the past and answered here. This is important because they do not respond to questions submitted through the website. I am trying to find out the pena...
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Online Savings
Last change: ↓0.15% on June 3.
Rate History: 3.50% → 3.50% → 3.50% → 3.35% → 3.20%
JuanVelasco | Mar 17, 2023
STAY AWAY !
They closed my accounts with no warning.
After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. No...
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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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Been a customer for a couple of years now with interesting checking, been a happy customer. They give you a $10 reimbursement on atm fees per statement cycle. They pay you to leave your money there curre...
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I have read these reviews and noticed how old they are. My experience with Capital One has been very good. I have had CDs and savings accounts. All of my transactions have been on line. I have enjoyed usin...
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Poor service. Condescending attitude.
Savings application denied without giving reason (Equifax file had a freeze because of hacking history) and not advising customer of need to unfreeze credit file for a...
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360 Performance Savings Account. Rate available for new account holders only.
Last change: ↓0.10% on June 2.
Rate History: 3.40% → 3.30% → 3.20% → 3.10% → 3.00%
NS123 | Mar 15, 2023
Thank you for the reviews above. I was wondering why I was only getting 0.3% when interest rates have gone up. Why CapitalOne360 is putting loyal and long time customers at a disadvantage is beyond me. ...
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AVOID at all costs. We read the addendum to the final page of the LENGTHY account agreement mailed to us after completing the online portion. Guess what? It gives this sweet seeming Discover Bank access to...
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I guess customer service is in the US (not sure). I'd rather that someone in the Philippines answered though. These people are so poorly trained and ill informed that I do not trust them with my personal...
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bad bank hold your deposit over months without credit in your account, no interest, they don’t want pay you interest , they want your money with 0% interest.
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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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I have read these reviews and noticed how old they are. My experience with Capital One has been very good. I have had CDs and savings accounts. All of my transactions have been on line. I have enjoyed usin...
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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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On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous.
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Synchrony Bank recently closed 3 of my accounts with them and this decision was completely unwarranted. I had two Guitar Center cards and one Levin Furniture card. I found out about this through a push not...
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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've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a...
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Upon entering the Savanna Location, I 1st waited and waited and then was told it was gonna be a few minutes; Therefore when one's app once I got to deposit money they tried to tell me it was too late. To...
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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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I had been with USAA for 20 years. Had my checking, savings, auto and renters insurance and 2 credit cards with them. I work in the service industry and make a good portion of my income in cash tips. For 4...
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Upon entering the Savanna Location, I 1st waited and waited and then was told it was gonna be a few minutes; Therefore when one's app once I got to deposit money they tried to tell me it was too late. To...
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You people did a very good job with our loan. You where very prompt in sending the overrun within a few days of the last payment ! Thank You !
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You people did a very good job with our loan. You where very prompt in sending the overrun within a few days of the last payment ! Thank You !
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Problem with ties to puppy mills. I closed a cct. https://www.americanbanker.com/news/tab-bank-dragged-into-seedy-world-of-puppy-mill-loans-by-fintech-partner
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Echoing the other negative reviews here. Avoid because rate is bait-and-switch, website is awful and service is not acceptable (provided by offshore reps who barely speak English, raise their voice and ad...
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I filled out the application 10 days ago answering all questions and sent a file with a copy of my drivers license to Western Bank. I received an email saying that a banker would call me within one busines...
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This bank has changed from what it used to be some years ago.
I used to have an account, got loans through them. Did all my banking through this establishment.
They were a hometown proud financial insti...
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This bank has changed from what it used to be some years ago.
I used to have an account, got loans through them. Did all my banking through this establishment.
They were a hometown proud financial insti...
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ABSOLUTELY RIDICULOUS how this place is still around in Wheeling. Taking any more than 3 days on a loan check is UNEXCUSEABLE. Having an 800 plus credit rating. A SENIOR. Wanting to move out ofa big hou...
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You people did a very good job with our loan. You where very prompt in sending the overrun within a few days of the last payment ! Thank You !
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Community Partners Savings Bank aka Marion County Savings are dishonest, incompetent, deceitful and they break the FCRA laws. They lie and trick you to get as much money as they can out of you, greedy for ...
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Le agradezco a la Sra. Clara por hacerme confiar nuevamente. Mi propia Historia comenzó en 2010 cuando estaba buscando cómo conseguir un sueño en Sudáfrica y gasté todo el dinero que tenía e incluso ...
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Upon entering the Savanna Location, I 1st waited and waited and then was told it was gonna be a few minutes; Therefore when one's app once I got to deposit money they tried to tell me it was too late. To...
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I witnessed an appallingly racist exchange at the window this morning, and the teller had just been perfectly polite to me. On top of the rudeness I've come to expect from a couple of their tellers, this p...
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I witnessed an appallingly racist exchange at the window this morning, and the teller had just been perfectly polite to me. On top of the rudeness I've come to expect from a couple of their tellers, this p...
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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.
ILLINOIS SAVINGS ACCOUNT ENVIRONMENT
The banking system in Illinois is structured in a similar way to other states in the United States. It consists of various types of financial institutions that provide banking services, including commercial banks, community banks, credit unions, savings banks, and savings and loan associations.
Commercial banks: These are large, for-profit institutions that offer a wide range of financial services to consumers, businesses, and other organizations. They typically have branches across the state and may also operate nationally or internationally.
Community banks: These are smaller, locally owned and operated banks that focus on serving a specific community or region. They often have a close relationship with their customers and cater to their unique banking needs.
Credit unions: These are not-for-profit financial cooperatives owned by their members, who typically have a common bond such as employment or membership in a particular organization. Credit unions offer similar services as banks but often have lower fees and may provide better interest rates on loans and savings accounts.
Savings banks: These institutions specialize in accepting and safeguarding savings deposits, and they typically offer mortgages and other lending services. They may be owned by shareholders or mutually owned by their depositors.
Savings and loan associations: Also known as thrifts, these institutions focus on providing home mortgages and other consumer loans. They traditionally focused on residential lending but may also offer other banking services.
The Illinois banking system is regulated by state and federal authorities, including the Illinois Department of Financial and Professional Regulation and the Office of the Comptroller of the Currency. Banks in Illinois are also members of the Federal Reserve System, which provides oversight and stability to the overall banking system in the United States.
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 easily 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 to 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, over 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 rate. Unlike with a Certificate of Deposit, your actual APY in a savings account 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.
