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Top Savings Rate Stays at 2% - Average Down to 1.4% APY

Top Savings Rate Stays at 2% - Average Down to 1.4% APY

Rate information contained on this page may have changed. Please find latest savings rates.

Author: Sol Nasisi on March 16, 2010 - modified on October 11, 2018

Savings rates dipped very slightly this past week with the average dropping from 1.41% APY to 1.40% APY. Despite this drop, the top savings rate remained at 2% (ReadySaver.com from Southern Community Bank). Everbank also continued to offer their promo rate of 2.25% APY for the first three months on new money. After three months, the rate drops to 1.26% APY for a 1-year blended APY of 1.51%.

Other notable rates include Franklin Synergy Bank at 1.75% APY and EBSB at 1.67% APY.

For those of you looking to deposit your money into a larger bank, student lender Sallae Mae just opened an Internet bank and is offering a 1.25% APY savings account. It was 1.35% APY last week. American Express Federal Bank is offering a 1.30% APY.

The table below shows the trend with savings rates as well as select cd rates. For savings, the trend is generally down.

Compare the top savings rates.

Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee