Top Savings Rates Steady at 2% APY - Average Continues to Drift Lower

Savings rates continue their slow drift down with the average dropping from 1.40% APY to 1.39% APY. Tthe 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.

Rate decreases from the previous week were:

• Costco Capital One: 1.5% APR to 1.3% APY
• Colorado Federal Savings Bank: 1.4% APR to 1.35% APR
• Ally Bank: 1.30% APR to 1.29% APR

There were no rate increases on the BestCashCow savings rate table.

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

Compare the top savings rates.