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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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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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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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 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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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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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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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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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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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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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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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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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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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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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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Just moved to south Texas from Oregon, and needed to open a local checking account. I liked the name, Lone Star National Bank so decided to give them a try; and am so glad that I did. Went to the lobby b...
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I think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $3...
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I have had this bank for the past 10 years and I would not want to change banks due to friendly customer service over the phone as I live a hundred miles from this bank. I always get my questions answered ...
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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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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 think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $3...
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Will not protect their customers against fraudulent debit card charges. Out hundreds of dollars due to multiple fraudulent charges, and they keep allowing same charges. RUN!
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I have had this bank for the past 10 years and I would not want to change banks due to friendly customer service over the phone as I live a hundred miles from this bank. I always get my questions answered ...
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Went to Stellar bank off Bay Area yesterday 8/6/23. I was 1 minute late, but a gentleman let me in and instructed me to a lady to my left. Unfortunately, the ONLY words to me that she said was "just to let...
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Just moved to south Texas from Oregon, and needed to open a local checking account. I liked the name, Lone Star National Bank so decided to give them a try; and am so glad that I did. Went to the lobby b...
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My family lives in Texas wanted to open and account with liberty bank Texas is name on Instagram is @obilo 10 10 u refuse him and stole his information cause he is black .plsss get it check out thank u
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Worst banking institution I have ever dealt with. Three months to provide payment coupons and return envelopes. Into second year of erroneously instituted property tax and insurance coverage escrow failur...
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Will not protect their customers against fraudulent debit card charges. Out hundreds of dollars due to multiple fraudulent charges, and they keep allowing same charges. RUN!
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This is the WORST bank ever!! We had a substantial amount of money taken from our accounts. When we first discovered it, we immediately met with Sue Hearn, VP in The Woodlands. Her first reaction was to ...
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This is a typical blow hard south texas bank that boasts its ability to “handle your money” and to “ loan up to 50k on the spot” “ we work with anyome regardless of credit” it’s a desperate b...
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Just recently had the pleasure of doing a finance of some rental units. Mr. Hale and his staff were very professional and efficient in this process. I highly recommend them to anyone in our community.
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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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I have been working for this company more than 5 years. I would not recommend any investment with First Citizens Bank. They are the worst performer on the market based on the customer and employee reviews...
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Just moved to south Texas from Oregon, and needed to open a local checking account. I liked the name, Lone Star National Bank so decided to give them a try; and am so glad that I did. Went to the lobby b...
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My family lives in Texas wanted to open and account with liberty bank Texas is name on Instagram is @obilo 10 10 u refuse him and stole his information cause he is black .plsss get it check out thank u
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Oh Natty natty natty, haha the fact you need to take out (probably a second) loan for $160,000 on a $625,000 sends up all kinds of red flags. The bank was right to run away from YOU dear hahaha.
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Stephenville,Tx branch is very professional, helpful and possibly the best bank I have encountered. If you move to this region, consider this institution. You will be pleasantly satisfied.
I in no way...
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Worst banking institution I have ever dealt with. Three months to provide payment coupons and return envelopes. Into second year of erroneously instituted property tax and insurance coverage escrow failur...
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Will not protect their customers against fraudulent debit card charges. Out hundreds of dollars due to multiple fraudulent charges, and they keep allowing same charges. RUN!
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They might be covered but they do little to safeguard your money. I was hacked, the hackers posed as bank employees accessed my account and made payments to fraudulent accounts. I had to explain to them wh...
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I have had this bank for the past 10 years and I would not want to change banks due to friendly customer service over the phone as I live a hundred miles from this bank. I always get my questions answered ...
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This is the WORST bank ever!! We had a substantial amount of money taken from our accounts. When we first discovered it, we immediately met with Sue Hearn, VP in The Woodlands. Her first reaction was to ...
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This is a typical blow hard south texas bank that boasts its ability to “handle your money” and to “ loan up to 50k on the spot” “ we work with anyome regardless of credit” it’s a desperate b...
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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.
TEXAS SAVINGS ACCOUNT ENVIRONMENT
Overall, the banking market in Texas is diverse and competitive, with a mix of large, regional, and community-focused institutions providing a wide range of services to individuals, businesses, and communities throughout the state.
1. National/International Banks: Texas has a significant presence of large national and international banks such as Bank of America, Wells Fargo, JPMorgan Chase, and Citibank. These banks operate across the entire state and offer a wide range of banking services including personal banking, business banking, wealth management, and investment services.
2. Regional Banks: Texas is home to several regional banks that primarily operate within the state or certain regions within the state. Examples of these regional banks include Frost Bank, Texas Capital Bank, Amegy Bank, and Comerica Bank. These banks have a significant market share and provide various financial services to individuals and businesses within their respective regions.
3. Community Banks: Texas has a large number of community banks that mainly serve small to medium-sized local communities. These banks often focus on personal and commercial banking needs of the local population and play an essential role in supporting local businesses and community development. Examples of community banks in Texas include Independent Bank, Allegiance Bank, and Veritex Community Bank.
4. Credit Unions: Texas also has a strong presence of credit unions, which are member-owned financial cooperatives that provide financial services to their members. Credit unions typically have a specific membership criteria or affiliation, and they offer a range of banking products including savings accounts, loans, and credit cards. Some prominent credit unions in Texas include Security Service Federal Credit Union, United Federal Credit Union, and Randolph-Brooks Federal Credit Union.
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.
