You are viewing savings rates around: New York, NY 10007

Local Bank Savings and Money Market Rates

If you have your savings dollars in a big bank or a bank with low savings rates, then you are losing money. We've found FDIC insured banks that will pay you more. Take a few minutes to explore the options below and see how you can boost your savings by more than 6X the national average rate. There is competition for your money. Take advantage of it!

New York, NY - May 3, 2016

Savings Account National Average Rate: 0.12% ?

BANKS APY Vs. Nat'l Av. MIN MILES ?
Capital One, National Association 1.10% 9.02x $10,001 2.13
Capital One, National Association 1.10% 9.02x $10,001 0.06
NorthEast Community Bank 1.00% 8.20x $5,000 2.13
Santander Bank, N.A. 0.90% 7.38x $10,000 1.69
MERCANTIL COMMERCEBANK, NATIONAL ASSOCIATION 0.90% 7.38x $25,000 3.47
Spring Bank 0.85% 7.00x $1,000 6.53
Spring Bank 0.85% 6.97x $1 6.53
MERCANTIL COMMERCEBANK, NATIONAL ASSOCIATION 0.85% 6.97x $10,000 3.47
Santander Bank, N.A. 0.80% 6.56x $100,000 1.69
First Central Savings Bank 0.80% 6.56x $25,000 5.04
Apple Bank for Savings 0.75% 6.15x $10,000 0.15
Spring Bank 0.75% 6.15x $25,000 6.53
First Central Savings Bank 0.60% 4.92x $10,000 5.04
Amerasia Bank 0.51% 4.18x $25,000 7.03
Indus American Bank 0.50% 4.10x $5,000 3.35
MERCANTIL COMMERCEBANK, NATIONAL ASSOCIATION 0.50% 4.10x $50 3.47
Oritani Bank 0.45% 3.69x $25,000 3.12
Carver Federal Savings Bank 0.40% 3.28x $10,000 2.58
Alma Bank 0.40% 3.28x $100 4.87
Emigrant Bank 0.40% 3.28x $100 3.02
NorthEast Community Bank 0.40% 3.28x $1 2.13
BNB Hana Bank, National Association 0.40% 3.28x $2,500 2.49
Savoy Bank 0.40% 3.28x $25 3.57
Capital One, National Association 0.40% 3.28x $1,000,001 0.06
New York Community Bank 0.35% 2.87x $25,000 5.69
Empire State Bank 0.35% 2.87x $25,000 6.50
Alma Bank 0.35% 2.87x $25,000 4.87
Oritani Bank 0.30% 2.46x $10,000 3.12
Santander Bank, N.A. 0.30% 2.46x $1 1.69
Ridgewood Savings Bank 0.30% 2.46x $25,000 2.12
BNB Hana Bank, National Association 0.30% 2.46x $25,000 2.49
Apple Bank for Savings 0.30% 2.46x $25,000 0.15
Amerasia Bank 0.30% 2.46x $200 7.03
Alma Bank 0.30% 2.46x $10,000 4.87
Eastbank, National Association 0.30% 2.46x $10,000 0.49
Amerasia Bank 0.26% 2.13x $1,000 7.03
Oritani Bank 0.25% 2.05x $100 3.12
Indus American Bank 0.25% 2.05x $1 3.35
ConnectOne Bank 0.25% 2.05x $2,500 4.88
New York Community Bank 0.25% 2.05x $5,000 5.69
Ponce De Leon Federal Bank 0.25% 2.05x $25,000 4.34
Spring Bank 0.25% 2.05x $1 6.53
Carver Federal Savings Bank 0.25% 2.05x $300 2.58
Country Bank 0.25% 2.05x $2,500 3.03
Ponce De Leon Federal Bank 0.25% 2.05x $25,000 1.94
Wilshire Bank 0.25% 2.05x $2,500 2.52
ConnectOne Bank 0.25% 2.05x $2,500 3.68
Apple Bank for Savings 0.25% 2.05x $10,000 0.15
BNB Hana Bank, National Association 0.25% 2.05x $200 2.49
Quontic Bank 0.25% 2.05x $100 5.44
Northfield Bank 0.25% 2.05x $15,000 5.47
First American International Bank 0.25% 2.05x $10,000 0.56
Kearny Bank 0.25% 2.05x $25,000 3.77
Signature Bank 0.25% 2.05x $1 0.59
NorthEast Community Bank 0.25% 2.05x $500 2.13
BCB Community Bank 0.20% 1.64x $10,000 1.63
Indus American Bank 0.20% 1.64x $1 3.35
Oritani Bank 0.20% 1.64x $1,000 3.12
TD Bank, National Association 0.20% 1.64x $25,000 1.93
Cathay Bank 0.20% 1.64x $10,000 0.48
Empire State Bank 0.20% 1.64x $2,500 6.50
MERCANTIL COMMERCEBANK, NATIONAL ASSOCIATION 0.20% 1.64x $100 3.47
Ridgewood Savings Bank 0.20% 1.64x $100 2.12
Eastbank, National Association 0.20% 1.64x $250 0.49
Bank of the Ozarks 0.20% 1.64x $25,000 3.21
TD Bank, National Association 0.20% 1.64x $25,000 0.09
United Orient Bank 0.20% 1.64x $100 0.50
Carver Federal Savings Bank 0.20% 1.64x $10,000 2.58
Global Bank 0.20% 1.64x $1 0.57
Country Bank 0.20% 1.64x $2,500 3.03
Astoria Bank 0.20% 1.64x $25,000 2.49
Banco Popular North America 0.20% 1.64x $1 1.09
Wilshire Bank 0.20% 1.64x $500 2.52
ConnectOne Bank 0.15% 1.23x $1 4.88
TD Bank, National Association 0.15% 1.23x $10,000 1.93
The Provident Bank 0.15% 1.23x $1,000 1.63
Valley National Bank 0.15% 1.23x $25,000 1.84
Ponce De Leon Federal Bank 0.15% 1.23x $10,000 4.34
Industrial and Commercial Bank of China (USA), National Association 0.15% 1.23x $25,000 0.49
Carver Federal Savings Bank 0.15% 1.23x $1 2.58
Cathay Bank 0.15% 1.23x $10,000 0.48
SussexBank 0.15% 1.23x $25,000 6.04
Alma Bank 0.15% 1.23x $1,000 4.87
ConnectOne Bank 0.15% 1.23x $1 3.68
Abacus Federal Savings Bank 0.15% 1.23x $500 0.28
Valley National Bank 0.15% 1.23x $25,000 0.27
Kearny Bank 0.15% 1.23x $100 3.77
Empire State Bank 0.15% 1.23x $2,500 6.50
TD Bank, National Association 0.15% 1.23x $10,000 0.09
Ponce De Leon Federal Bank 0.15% 1.23x $10,000 1.94
Northfield Bank 0.15% 1.23x $10,000 5.47
Amalgamated Bank 0.15% 1.23x $25,000 0.63
Gibraltar Private Bank & Trust Co. 0.15% 1.23x $1 3.34
CTBC Bank Corp. (USA) 0.15% 1.23x $10,000 3.36
Banco Popular North America 0.15% 1.23x $25,000 1.09
Modern Bank, National Association 0.15% 1.23x $15,000 3.69
Bank of the Ozarks 0.15% 1.23x $10,000 3.21
PNC Bank, National Association 0.11% 0.90x $25,000 1.89
BCB Community Bank 0.10% 0.82x $100 1.63
Valley National Bank 0.10% 0.82x $5,000 1.84
Crown Bank 0.10% 0.82x $1 4.53
Ponce De Leon Federal Bank 0.10% 0.82x $500 4.34
The Berkshire Bank 0.10% 0.82x $300 0.75
Apple Bank for Savings 0.10% 0.82x $1 0.15
City National Bank of New Jersey 0.10% 0.82x $25 6.73
Amalgamated Bank 0.10% 0.82x $1 0.63
Cathay Bank 0.10% 0.82x $1 0.48
BBCN Bank 0.10% 0.82x $1 2.52
Astoria Bank 0.10% 0.82x $10,000 2.49
East West Bank 0.10% 0.82x $10,000 0.44
Capital One, National Association 0.10% 0.82x $1 0.06
Industrial and Commercial Bank of China (USA), National Association 0.10% 0.82x $2,500 0.49
Ridgewood Savings Bank 0.10% 0.82x $10,000 2.12
Ponce De Leon Federal Bank 0.10% 0.82x $500 1.94
Valley National Bank 0.10% 0.82x $5,000 0.27
Northfield Bank 0.10% 0.82x $300 5.47
The Suffolk County National Bank of Riverhead 0.10% 0.82x $100 4.26
New York Community Bank 0.10% 0.82x $1 2.68
Kearny Bank 0.10% 0.82x $2,500 3.77
Bank of the Ozarks 0.10% 0.82x $100 3.21
CTBC Bank Corp. (USA) 0.10% 0.82x $1 3.36
SussexBank 0.10% 0.82x $10,000 6.04
First Central Savings Bank 0.10% 0.82x $250 5.04
Sterling National Bank 0.10% 0.82x $2,500 0.17
Banco Popular North America 0.10% 0.82x $10,000 1.09
Investors Bank 0.10% 0.82x $15,000 1.81
PNC Bank, National Association 0.09% 0.74x $10,000 1.89
Apple Bank for Savings 0.09% 0.74x $25,000 0.15
City National Bank 0.07% 0.57x $25,000 3.18
Banco Popular North America 0.05% 0.41x $25,000 3.30
The Provident Bank 0.05% 0.41x $50 1.63
Crown Bank 0.05% 0.41x $100 4.53
Valley National Bank 0.05% 0.41x $1,000 1.84
Capital One, National Association 0.05% 0.41x $1 2.13
New York Community Bank 0.05% 0.41x $200 5.69
TD Bank, National Association 0.05% 0.41x $1 1.93
Israel Discount Bank of New York 0.05% 0.41x $5,000 3.06
Manufacturers and Traders Trust Company 0.05% 0.41x $25,000 2.20
Industrial and Commercial Bank of China (USA), National Association 0.05% 0.41x $1,000 0.49
New York Commercial Bank 0.05% 0.41x $200 0.38
First American International Bank 0.05% 0.41x $500 0.56
SussexBank 0.05% 0.41x $100 6.04
Astoria Bank 0.05% 0.41x $1 2.49
East West Bank 0.05% 0.41x $1 0.44
New York Community Bank 0.05% 0.41x $200 2.68
The Bridgehampton National Bank 0.05% 0.41x $1 3.50
Investors Bank 0.05% 0.41x $1 1.81
TD Bank, National Association 0.05% 0.41x $1 0.09
Northfield Bank 0.05% 0.41x $2,500 5.47
KeyBank National Association 0.05% 0.41x $2,500 2.02
Chinatown Federal Savings Bank 0.05% 0.41x $10,000 0.54
Ridgewood Savings Bank 0.05% 0.41x $1 2.12
Valley National Bank 0.05% 0.41x $1,000 0.27
Modern Bank, National Association 0.05% 0.41x $5,000 3.69
City National Bank 0.05% 0.41x $25,000 3.18
CTBC Bank Corp. (USA) 0.05% 0.41x $1,000 3.36
BBCN Bank 0.05% 0.41x $1 2.52
Abacus Federal Savings Bank 0.05% 0.41x $500 0.28
Citibank, National Association 0.04% 0.33x $10,000 0.12
Bank of America, National Association 0.03% 0.25x $1 1.60
Santander Bank, N.A. 0.03% 0.25x $2,000 1.69
Wells Fargo Bank, National Association 0.03% 0.25x $1 1.43
Valley National Bank 0.03% 0.25x $100 1.84
New York Community Bank 0.03% 0.25x $5,000 5.69
PNC Bank, National Association 0.03% 0.25x $1 1.89
New York Commercial Bank 0.03% 0.25x $5,000 0.38
Santander Bank, N.A. 0.03% 0.25x $2,000 0.19
Valley National Bank 0.03% 0.25x $100 0.27
City National Bank 0.03% 0.25x $1 3.18
Chinatown Federal Savings Bank 0.03% 0.25x $100 0.54
Manufacturers and Traders Trust Company 0.03% 0.25x $2,500 2.20
Bank of America, National Association 0.03% 0.25x $1 0.08
Wells Fargo Bank, National Association 0.03% 0.25x $1 0.55
New York Community Bank 0.03% 0.25x $5,000 2.68
New York Community Bank 0.02% 0.16x $2,500 5.69
New York Commercial Bank 0.02% 0.16x $2,500 0.38
Manufacturers and Traders Trust Company 0.02% 0.16x $1 2.20
Gibraltar Private Bank & Trust Co. 0.02% 0.16x $10,000 3.34
KeyBank National Association 0.02% 0.16x $2,500 2.02
New York Community Bank 0.02% 0.16x $2,500 2.68
People's United Bank, National Association 0.02% 0.16x $250 1.87
Bank of America, National Association 0.01% 0.08x $1 1.60
JPMorgan Chase Bank, National Association 0.01% 0.08x $1 1.48
Banco Popular North America 0.01% 0.08x $1 3.30
PNC Bank, National Association 0.01% 0.08x $2,500 1.89
Wells Fargo Bank, National Association 0.01% 0.08x $2,500 1.43
HSBC Bank USA, National Association 0.01% 0.08x $100 1.65
HSBC Bank USA, National Association 0.01% 0.08x $100 0.07
JPMorgan Chase Bank, National Association 0.01% 0.08x $1 0.06
Wells Fargo Bank, National Association 0.01% 0.08x $2,500 0.55
Sterling National Bank 0.01% 0.08x $500 0.17
Banco Popular North America 0.01% 0.08x $1 1.09
Bank of America, National Association 0.01% 0.08x $1 0.08
Citibank, National Association 0.01% 0.08x $1 0.12
City National Bank 0.01% 0.08x $500 3.18


BestCashCow strives to maintain the most accurate rates. If you find a rate that is not accurate, please let us know by commenting below so that we can update it. Thank you for your help.

Local Savings Rates

Savings accounts offer depositors flexibility along with the stability of FDIC insurance (when deposit amounts are within FDIC limits). Savings accounts are a good place for money that is needed in the next 6-18 months and that the depositor wants to keep safe. Individuals often use savings accounts for a home downpayment, a vacation, a wedding, a car, an emergency fund, or other near-term expenditures.

While online savings account have grown in popularity over the past ten years, some consumers prefer opening an account in a branch and having a personal relationship with the people who safeguard their money. Physical branches also provide an easy way to get cash instantly, to deposit checks and access to notaries and coffee and donuts.

You will find a map with all banks that are close to you here.

Advantages:

· Higher interest rate than a checking account, usually.

· Personal service and interaction. Unlike an online account you are building a relationship with your banker by opening it in a branch.

· Online access. Often, depending on the size of the bank, good online banking functionality.

· Liquidity. Depositors can withdraw their money at any time.

Disadvantages:

· A variable interest rate. Rates can change at any time. In a falling rate environment, this is a negative. In a rising rate environment, this is a positive.

· A lower rate than an online bank. Branches are expensive and non-online banks often can't afford to pay as much interest as an online bank.

BestCashCow strongly recommends that when depositing money, you stay within FDIC insured limits. If you are considering depositing over $250,000 at a single bank across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should visit the FDIC's website to determine your coverage limits based on your circumstances.

  • george koshefsky

    April 21, 2015

    Where is the list of the worst online banks to bank with or the States to avoid

  • ctyank January 19, 2015

    January 19, 2015

    Liberty Bank...Hamden, CT...new branch opening...special savings rate, 1.50% up to $100,000.00 through 2016...do not beleive it is available to om-line customer(s)...checking account linked, free...

  • Sol @ Travis

    September 29, 2013

    @ Travis

    In many cases we do provide this information. For example, the Belmont Savings Bank rate you list above comes with a clear disclaimer if you click the Learn more button. We're always trying to improve though and will certainly continue to gather additional information. Thanks for your comment.

  • Travis MacDonald

    September 29, 2013

    I find the numbers decieving. Some of your banks listed with the highest APR have many restrictions and requirements. I feel that these should be listed on your site in the "details" section to avoid any "bait-and-switch" claims. For instance, Belmont Savings Bank in Belmont, MA is listed as having a 1.00% APR, but the savings account requires a companion checking account with a daily average balance of 250,000. Another example is Salen Five cents Bank under the online banks. The account listed is not available on their website. When I inquired about it, they told me that particular savings product was reserved as an add-on for accounts with daily balances in excess of $10,000. It seems alot of research went into the details pages in terms of company financials and whatnot. Seems like a little more research could be done on the savings and checking products themselves.

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Add Your Comment

 

Why do savings rates vary so much?


Even though rates are at levels that are historically very low, there is competition for your money. Like any active marketplace, there are buyers and sellers of goods and services at different prices.

Online banks offer higher savings and CD rates because they have lower expenses from not having to maintain brick-and-mortar locations, but you should also check rates at local banks and credit unions using the tabs above.

What is the difference between a savings account and a money market account?


The differences between a savings account and a money market account are largely arcane. Some money market accounts offer more ways access deposits by issuing checks and debit cards, but prudent consumers will compare the two interchangeably, focusing primarily on rates and service among FDIC-insured banks (or NCUA-insured, for credit unions). Consumers who maximize their use of online savings and money market accounts access these accounts through ACH transfers that are easily set up on the online bank’s website so the additional ways to access deposits that money market accounts offer are rarely valuable.

What does annual percentage yield (APY) mean?


Savings rates are displayed in terms of APY to indicate the effective annual-interest return, including the compounding of interest, of the course of a single year. $100,000 deposited in a savings or CD account with a 1.20% APY will earn $1,200 in the course of the year, but monthly interest in the first few months may be less than $100 a month (this also depends on the number of days in the month). Hence, the APY rate is ordinarily a couple of basis points above the real interest rates. Unlike with a CD, your actual APY in a savings may vary if the rate changes.

How do I choose the right savings account and should I consider CDs?


Begin your search with the table here on BestCashCow.com that you have found. In addition to checking online savings rates, you should also check local bank rates and local credit union rates. If you are unlikely to require access to your cash for some time, you may also consider certificates of deposit (CDs). While CDs have penalties for early withdrawal that may even eat into your principal, the rates on 2, 3, 4 and 5 year CDs are ordinarily significantly higher than savings rates. Several other sections and articles on BestCashCow can also help you to identify your proper cash allocation between savings and CDs. Access these below. You should also familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.