
Investing, Stocks, Income, Value, Dividends, Buffett, Passive, Economy, Retirement, Dividend, Recession, Market, Stock, Money, Bank, Retirements, Banks, Stock market, Personal finance, Inflation, Investment, Credit, Savings, Fdic, Ideas.
| Bank/Savings Account |
APY**
|
Minimum Balance Required
|
Check Writing
|
Notes |
Your Questions and Thoughts |
|
|
3.01% |
$1,500 |
Yes |
This is a 3 month introductory bonus rate on the first $50,000 deposited. Everbank's current money market rate is 1.83%. 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 2.15%. | Post/read reviews of this bank |
SmartyPig
|
2.75% |
$25 |
No |
Social networking site for savings. Money stored at West Bank. | Post/read reviews of this bank |
Provident New Jersey Direct
|
2.75% |
$500 |
No |
This is a 3 month introductory bonus rate. The bank's current market rate on deposits over $10,000 is 2.25%. | Post/read reviews of this bank |
Tennessee Commerce Bank
|
2.30% |
$1 |
No |
Rate only good to maximum deposit of $100,000. | Post/read reviews of this bank |
Wilshire State Bank
|
2.25% |
$500 |
No |
Post/read reviews of this bank | |
Bank of Internet High Yield Savings
|
2.06% |
$1 |
No |
Post/read reviews of this bank | |
First Trade Union Bank
|
2.06% |
$2,500 |
No |
Post/read reviews of this bank | |
ShoreBank Direct
|
2.05% |
$1 |
No |
Post/read reviews of this bank | |
ADB Bank Direct Wealth Money Market
|
2.05% |
$1 |
No |
Post/read reviews of this bank | |
IGoBanking.com
|
2.02% |
$1 |
No |
iGObanking.com is a division of Flushing Savings Bank, FSB. | Post/read reviews of this bank |
|
|
2.00% |
$500 |
Yes |
FDIC-insured offering competitive rates and convenient access. | Post/read reviews of this bank |
|
|
2.00% |
$1 |
No |
Post/read reviews of this bank | |
|
|
2.00% |
$1 |
No |
Post/read reviews of this bank | |
|
|
2.00% |
$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 |
One West Bank Not yet rated. |
2.00% |
$50,000 |
No |
Formerly IndyMac Bank. | Post/read reviews of this bank |
American Express
|
2.00% |
$1,000 |
No |
$1,000 is required to open the account, but no minimum balance required. | Post/read reviews of this bank |
Corus Bank Zero Stars |
2.00% |
$10,000 |
No |
$100 is the minimum deposit but a $10,000 deposit is required to avoid fees. | Post/read reviews of this bank |
AmericaNet Bank
|
2.00% |
$1 |
No |
Post/read reviews of this bank | |
Savings Square
|
2.00% |
$1 |
No |
Accounts with Savings Square are deposited with Kirkpatrick Bank. | Post/read reviews of this bank |
Nationwide Bank
|
2.00% |
$1,000 |
Yes |
Post/read reviews of this bank | |
AIG Bank
|
1.96% |
$50,000 |
No |
Rate is 2.06% on balances over $100,000 and 1.96% on balances over $10,000. | Post/read reviews of this bank |
Clear Sky Accounts
|
1.95% |
$1 |
No |
Clear Sky Accounts is a division of Chesapeake Bank. | Post/read reviews of this bank |
Flagstar Bank Express Money Market
|
1.91% |
$1 |
Yes |
Rate applies only to accounts opened by internet. | Post/read reviews of this bank |
BankProvidentOnline
|
1.90% |
$1 |
No |
Post/read reviews of this bank | |
Zions Bank Internet Money Market Account
|
1.87% |
$1,000 |
No |
Post/read reviews of this bank | |
Capital One Costco
|
1.80% |
$10,000 |
No |
Rate for Costco customers only. | Post/read reviews of this bank |
Umbrella Bank Zero stars |
1.80% |
$50,000 |
No |
Post/read reviews of this bank | |
EBSB Direct
|
1.75% |
$5,000 |
No |
Post/read reviews of this bank | |
FNBO Direct
|
1.65% |
$1 |
No |
Post/read reviews of this bank | |
ING DIRECT Electric Orange Checking
|
1.65% |
$100,000 |
Yes |
Rate is 1.60% on balances between $50,000 and $100,000, and 0.25% on balances under $50,000. ING Direct's Orange Savings account offers 1.50% with a $1 minimum. | Post/read reviews of this bank |
HSBC Direct
|
1.55% |
$1 |
No |
Post/read reviews of this bank | |
OneUnited Bank
|
1.51% |
$1,000 |
No |
Post/read reviews of this bank | |
Citibank Ultimate Savings Account
|
1.50% |
$1 |
Yes |
Post/read reviews of this bank |
Bauer
Soundness Ratings. BauerFinancial periodically assesses the
health of the nation's banks and credit unions using data reported to
the government, its annual reports, and more. 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.
** 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 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 fedral 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 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 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 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.