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| Bank/Savings Account | APY** |
Minimum Balance Required |
Check Writing |
Notes
|
Your Questions and Thoughts
|
|
|
2.25% |
$1,500 |
Yes |
This is a 3 month introductory bonus rate on the first $50,000 deposited. Everbank's current money market rate is 1.26%. If you were to deposit an amount less than $50,000 and hold it at Everbank for a full year, your effective 1-year APY rate would be 1.51%. | Post/read reviews of this bank |
Southern Community Bank Ready Saver
|
2.00% |
$1 |
No |
Post/read reviews of this bank | |
Franklin Synergy Bank
|
1.75% |
$25,000 |
No |
Post/read reviews of this bank | |
EBSB Direct
|
1.67% |
$5,000 |
No |
Post/read reviews of this bank | |
The Palladian Private Bank
|
1.55% |
$10,000 |
No |
Post/read reviews of this bank | |
Clear Sky Accounts
|
1.50% |
$1 |
No |
Clear Sky Accounts is a division of Chesapeake Bank. | Post/read reviews of this bank |
Bank of Internet High Yield Savings
|
1.50% |
$100 |
No |
Post/read reviews of this bank | |
NewDominion Direct
|
1.50% |
$1,500 |
No |
Post/read reviews of this bank | |
First Trade Union Bank
|
1.50% |
$2,500 |
No |
Post/read reviews of this bank | |
Acacia Federal Savings Bank
|
1.50% |
$125,000 |
No |
Rate is 1.25% on balances over $75,000. | Post/read reviews of this bank |
ADB Bank Direct Wealth Money Market
|
1.40% |
$1 |
No |
Post/read reviews of this bank | |
|
|
1.35% |
$1 |
No |
Post/read reviews of this bank | |
Savings Square
|
1.35% |
$1 |
No |
Accounts with Savings Square are deposited with Kirkpatrick Bank. | Post/read reviews of this bank |
Colorado Federal Savings Bank
|
1.35% |
$2,500 |
Yes |
Post/read reviews of this bank | |
AIG Bank
|
1.35% |
$100,000 |
No |
Post/read reviews of this bank | |
Nationwide Bank
|
1.35% |
$1,000 |
Yes |
Post/read reviews of this bank | |
|
|
1.30% |
$1 |
No |
Post/read reviews of this bank | |
Dollar Savings Direct
|
1.30% |
$1,000 |
No |
Owned by Emigrant Bank, and therefore deposits between accounts at this bank and Emigrant Direct fall under a single FDIC insurance policy. | Post/read reviews of this bank |
Discover Bank
|
1.30% |
$500 |
Yes |
Post/read reviews of this bank | |
Capital One Costco
|
1.30% |
$5,000 |
No |
Rate for Costco customers only. | Post/read reviews of this bank |
Ally Bank
|
1.29% |
$1 |
No |
Post/read reviews of this bank | |
|
|
1.25% |
$1 |
No |
Post/read reviews of this bank | |
|
|
1.25% |
$1 |
No |
Linked to UPromise Rewards. | Post/read reviews of this bank |
ING DIRECT Electric Orange Checking
|
1.25% |
$100,000 |
Yes |
Rate is 1.20% on balances between $50,000 and $100,000, and 0.25% on balances under $50,000. ING Direct's Orange Savings account offers 1.15% with a $1 minimum. | Post/read reviews of this bank |
BankProvidentOnline
|
1.25% |
$1 |
No |
Post/read reviews of this bank | |
One West Bank Not yet rated. |
1.25% |
$25,000 |
No |
Formerly IndyMac Bank. | Post/read reviews of this bank |
ShoreBank Direct No stars |
1.24% |
$100,000 |
No |
Post/read reviews of this bank | |
IGoBanking.com
|
1.21% |
$1 |
No |
iGObanking.com is a division of Flushing Savings Bank, FSB. | Post/read reviews of this bank |
|
|
1.16% |
$10,000 |
No |
Post/read reviews of this bank | |
HSBC Advance
|
1.10% |
$1 |
No |
Post/read reviews of this bank |
Below are some of the top savings and money market rates for various states:
Bauer Soundness Ratings. BauerFinancial periodically assesses the health of the nation's banks using data reported to the government. An explanation of their star system can be read here.
* This chart includes banks that have savings accounts that can be opened and monitored online as well as savings accounts that are managed through mail correspondence. It does not include certain regional or local banks that have offerings that are not available nationally. It also does not include Federal Credit Union (FCU) rates. A list of the most competitive FCU savings rates, some with rates as high as 2.00% APY, is found here.
** For a complete definition of Annual Percentage Yield (APY), please see the Financial Terminology section.
If you think we have missed a top rate please email us.
Help other savers by sharing this savings rate and money market rate information: 
FDIC Insurance - In order to secure the viability of the US banking system, the Federal Deposit Insurance Corporation (FDIC), an independent agency of the federal government, provides insurance in each qualified bank account for each qualified institutions. Insurance is generally provided to a maximum amount of $100,000 for an individual account or per depositor if the depositor has multiple accounts (i.e., a joint account with two holders is insured to $200,000, provided neither has other accounts with the financial institution). FDIC special rules, extended in June 2009, provide that FDIC insurance for each individual account will be provided to a maximum amount of $250,000 through December 31, 2013. However, where a depositor has multiple accounts at the same financial institution, their maximum insurance is only $200,000 per depositor (i.e., a joint account with two holders is insured to $400,000, provided neither has other accounts with the financial institution). While all deposits (CDs, Checking, Savings) held in the same type of ownership are added together and insured to up to the maximum amount, funds held in different types of ownership (Individual, Joint, Trust, Retirement) may fall under separate FDIC insurance provisions. Please visit the FDIC's website to determine if your financial institution is insured and use its "ask Edie" program to determine your coverage limits. We recommend that you deposit savings in only FDIC insured institutions and that you do not exceed FDIC coverage limits. Additionally, some major financial institutions claim that deposits over the single account FDIC insurance limits are insured because the financial institution divides your deposits between several separately chartered financial institutions; however, most of these claims have not been tested in the event of a bank failure.
Liquidity - The ease of moving money in and out of a savings account on short notice.
Money Movement - The ability to easily and freely transfer money to checking accounts and/or savings accounts at other banks.
Stability of savings rates and money market rates - There is virtually no guarantee that a rate will not fall after you open a savings account. While some banks are raising savings rates to become more competitive, you will occasionally notice a decline in the savings rate that a bank is giving (even in a rising interest rate environment), often entirely without notice. Occasionally, a bank will pledge to maintain a rate for a certain period of time. However, if you require greater certainty and believe that short term interest rates are not likely to increase soon, you may be better off investing in short term certificates of deposit.
Introductory savings rates and money market rates- Some banks, particularly online banks, will lure you to open a savings account with them for a promotional rate which is only good for first time account holders for a certain period.
Graduated savings and money market account rates - Savings accounts provide higher returns when you fund them with significant amounts of assets and lower the rate if you fall below that level.
High transaction fees for transferring money to other accounts and/or for penalties for transferring more than certain amounts within a given time.
