American Flag

Online Savings & Money Market Account Rates 2019

Recent Articles


Weekly Rate Update - Aflac Federal Credit Union Offering 2.41% APY Savings Account

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

Aflac Federal Credit Union is offering a 2.41% APY savings account for its members, and that's no quack.

Work for Aflac? If so, don't overlook one of the perks of the job. Aflac Federal Credit Union is offering a 2.41% APY savings account for its members, and that's no quack. The average national savings account rate for local banks is 0.21% while for online banks it is 0.80%. That gives you a sense of how competitive this rate is. The rate holds for deposits up to $100,000.01. The rate on deposits over this limit drops to 1.10% APY which is still highly competitive.

Like most credit unions, Aflac has a restricted field of membership. That means not everyone can join the credit union and open an account. To quality for membership, you must be an employee of Aflac, or the spouse of an empolyee. If you qualify, you can call them and request a membership packet. The packet also contains instructions for how to open a savings account.

Aflac is a medium sized credit union with $168 million in assets. It has a Texas Ratio of 15.14%, which is higher than the national average of 10.34% but not high enough to be a big concern. It is NCUA insured, and is located in Columbus, GA.

Our weekly update came out a few day late this week because of the holiday. I'll be back to the normal Monday schedule after the New Year. Happy New Year and here's to higher deposit rates in 2012 (although I think we may have to wait until 2013).

Look for the best savings account rates in your area by clicking the "Savings" tab above.

Previous Weekly Rate Deals

Check back next Monday for a new bank deal. Email any deals you know about to ratedeal (at) bestcashcow.com. Feel free to also share them below. If you're a bank and have a great deal not listed on BestCashCow, register for access and add the deal to the site.


$250 and More in Bonuses from ING Direct's Black Friday Sale

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

ING Direct is back with their annual Black Friday sales event. As part of this event, ING offerering over $250 in bonuses to consumers who open certain accounts.

ING Direct is back with their annual Black Friday sales event. As part of this event, ING offerering over $250 in bonuses to consumers who open certain accounts. This year, the bonuses are as follows:

  1. $107 Electric Orange account opening bonus
    • Open Electric Orange November 25th - 27th and make a total of 5 purchases (either signature or PIN-based) using your Electric Orange Card or Person2Person Payments (or any combination of the two) within 45 days.
    • Your $107 bonus will be automatically deposited into your account on day 50.
    • Bonus only available for new Electric Orange checking. Only one bonus will be provided per household.
  2. $27 Kids Savings Account opening bonus
    • Open a Kids Savings Account November 25th - 27th and receive a $27 bonus into your new account. Only available when you open a new account with at least one new Customer (either you or the kiddo must be a new Customer to ING DIRECT).
    • $27 bonus starts earning interest upon account opening, and is available for withdrawal after 30 days.
    • There's no minimum deposit amount required. 0.90% Variable Annual Percentage Yield effective as of 10/21/2011.
  3. $32 MONEY account opening bonus
    • Open MONEY November 25th - 27th and make 1 Card transaction (either signature, PIN-based or with PayPassTM) using your MONEY Card within 30 days and you'll receive a $32 bonus into your new account. (Keep in mind, the teen gets the Card.)
    • Your $32 bonus will be automatically deposited into your account on day 35.
    • There's no minimum deposit amount required. 0.25% Variable Annual Percentage Yield effective as of 7/13/2011.
  4. $100 401K Roll Over
    • Roll over your 401K with a Sharebuilder IRA and get $100.
    • Roll over or transfer in a qualified retirement account of at least $5,000 before 12/31/11 and you’ll receive a $100 bonus by January 16, 2012. Transfers from ING DIRECT, fsb and affiliates do not qualify. The bonus will count towards your 2012 contribution limit and will be reported on your Form 5498.

These bonuses last 3 days from Friday , Nov 25, 12:01am ET - Sunday, Nov 27, 11:59pm ET.

More on these and othe bonuses from ING Direct.


Best Florida Savings Account Rates

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

Local banks in Florida offering the best savings account rates according to the BestCashCow database.

Rate information contained on this page may have changed. 

Financial term discussed in this article: Texas Ratio (understand what it means)

Local banks in Florida are offering some attractive savings account rates according to the BestCashCow database. The average U.S. local savings account rate has dipped to 0.22% APY while the average online bankrate is now 0.81% APY. We found some local Florida banks offering rates better or close to the best online savings rates. If you happen to live close to these banks, they are worth a look.

  • Biscayne Bank leads the pack with a 1.00% APY savings rate with a paltry $1 minimum balance. It wasn't so long ago that 1.00% was a pretty low rate but nowadays it's close to the top. The bank has two branches located in Miami, was founded in 2005, and has $232 million in assets. Assets have grown from $81 million in 2006. The bank has a Texas Ratio of 16.64% versus the national average of 21.06%.
  • First Florida Bank is offering a 0.85% APY savings account with a $300 minimum balance. The bank has two locations in Destin, FL, which is in the upper panhandle between Talahasee and Mobile. The bank's assets have grown from $27.5 million in 2006 to $175 million in 2011. Its Texas Ratio is 21.66% versus he national average of 21.06%. First Florida was founded in 2006.
  • Gulfsouth Private Bank is offering 0.80% APY on its savings accounts with a $1,000 minimum balance. Gulfsouth was founded in 2005 and has five branches located in the upper panhandle once again between Talahasee and Mobile. This areas seems to be the golden location for high savings rates in Florida. The bank has a Texas Ratio of 110%, which is much higher than the national average of 21.06% and should be a warning sign. High Texas Ratios can be a sign of bank stress. Assets have grown from $72 million in 2006 to $209 million in 2009 and have come down to $187 million in 2011.
  • Destin, Florida strikes again! Community Bank, Destin is offering a 0.75% APY savings accoun rate with a $100 minimum balance. The bank has one branch in Miramar Beach, FL which like First Florida Bank is in the upper panhandle between Talahasee and Mobile. The bank was founded in 2007 and has seen its assets grow from $35 million to $82 million in 2011. The bank has a Texas Ratio of 7.39%.

Don't Live Near These Banks?

 

Another option is to consider opening a savings account online. Online savings account offer attractive rates, low minimum balances, and the convenience of banking from home. Some featured accounts are:

  • Discover Bank is offering 1.00% APY with a $1 minimum balance.
  • CNB Bank Direct is offering a 1.00% APY with a $1 minimum balance.
  • Clear Sky Accounts offering a 1.04% APY rate with a $1 minimum balance.

Getting the best rate makes a difference. To understand how earning half a percentage point can put a lot more money in your wallet over time, please visit our financial knowledge section. It pays to get the best rate.