Best Local Bank Savings and Money Market Rates in Arkansas, AR June 30, 2025

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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!

AR - June 30, 2025

Savings Account National Average Rate: 0.45% ^?

Banks	APY	MIN
Citibank, National Association	4.35% 0.20%	$0 $1	Learn More
Promotional rate for 3 months up to $11,000. Requires $25,000 in new deposits within 10 days of registration. After 3 month promotional period, rate reverts to between 0.03% and 0.12%. Rate History: 5.00% → 4.75% → 5.00% → 4.50% → 4.35%
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (22)
Banesco Usa	4.25%	$300	Learn More
Rate History: 4.50% → 4.40% → 4.25% → 4.00% → 4.25%
Dkplan \| Dec 27, 2022 They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More Reviews (8)
North American Savings Bank	4.10%	$10,000	Learn More
Rate History: 4.90% → 4.75% → 4.55% → 4.20% → 4.10%
A Terkowitz \| Feb 15, 2024 I have always had great experiences with short-term CDs from this bank. No delays. Read More Reviews (3)
Banesco Usa	4.00%	$300	Learn More
Rate History: 1.35% → 5.25% → 4.75% → 4.50% → 4.00%
Dkplan \| Dec 27, 2022 They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More Reviews (8)
Citizens Bank, National Association	3.70%	$0	Learn More
Rate History: 4.50% → 4.15% → 3.90% → 3.70%
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (2)
Td Bank, National Association	3.70% 2.25%	$100,000 $50,000	Learn More
Rate History: 4.00% → 3.70%
Turonemckinney17@gmail.com \| May 19, 2018 Experience Read More Reviews (1)
Capital One, National Association	3.60%	$1	Learn More
Rate History: 4.10% → 4.00% → 3.90% → 3.80% → 3.60%
highstream \| Jan 2, 2024 Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More Reviews (16)
Regions Bank Fairfield Bay Branch	3.50% 1.50%	$10,000 $0	Learn More Add Review
U.s. Bank National Association One Riverfront Place Branch	3.50% 0.05%	$25,000 $1	Learn More
Rate History: 4.10% → 3.50%
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (6)
Gateway First Bank	3.40%	$1,000	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
Citizens Bank, National Association	3.00% 2.75%	$250,000 $25,000	Learn More
Rate History: 1.00% → 3.00%
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (2)
Bank Of Whittier, National Association	2.60%	$250	Learn More Add Review
Capital One, National Association	2.50%	$1	Learn More
highstream \| Jan 2, 2024 Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More Reviews (16)
Intrust Bank, National Association Rogers, Arkansas Branch	2.30% 1.65%	$100,000 $10,000	Learn More Add Review
Rate History: 3.25% → 3.15% → 2.30%
Arvest Bank Conway Branch	2.07% 2.02% 1.92% 1.87%	$5,000,000 $100,000 $10,000 $2,500	Learn More Add Review
Rate History: 2.17% → 2.07%
M.y. Safra Bank, Fsb	2.00%	$5,000	Learn More
Richard \| Jul 1, 2022 Very easy opening process and wonderful staff. Read More Reviews (6)
Gateway First Bank	1.50%	$10	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
Bokf, National Association Bk Arkansas Fayetteville Branch	1.25% 1.00% 0.85% 0.75%	$250,000 $100,000 $50,000 $25,000	Learn More
Rate History: 1.00% → 1.50% → 1.25%
Aku \| May 29, 2020 Dua Read More Reviews (1)
Usaa Federal Savings Bank	1.10% 0.01%	$500,000 $1	Learn More
Rate History: 1.50% → 1.45% → 1.10%
RYAN S \| Nov 28, 2022 While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More Reviews (2)
Wells Fargo Bank, National Association Ashdown Branch	1.01% 0.01%	$100,000 $1	Learn More
Rate History: 1.01% → 1.02% → 1.01%
Thy King \| Feb 6, 2023 after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with... Read More Reviews (7)
Bank Of Little Rock Heights Branch	1.00% 0.75% 0.50%	$250,000 $100,000 $0	Learn More Add Review
First Horizon Bank	1.00% 0.70%	$100,000 $50,000	Learn More
Rate History: 2.02% → 1.76% → 1.26% → 1.16% → 1.00%
D R Lineberger \| Dec 30, 2018 Garden14 Read More Reviews (1)
Texana Bank, National Association Arkansas Blvd Branch	1.00%	$2,500	Learn More
Steve \| Mar 19, 2021 ... Read More Reviews (2)
Bodcaw Bank Bodcaw Bank Branch	0.85%	$10,000	Learn More Add Review
The Peoples Bank Golden Oaks Branch	0.85% 0.55% 0.50% 0.45% 0.40% 0.30%	$1,000,000 $500,000 $250,000 $150,000 $15,000 $2,500	Learn More
Marsha Sarkela \| Mar 2, 2021 This is NOT CORRECT. Read More Reviews (2)
Riverside Bank Riverside Bank Branch	0.75%	$10,000	Learn More Add Review
First State Bank Carlisle Branch	0.62%	$25,000	Learn More Add Review
Smackover State Bank Norphlet Branch	0.60%	$2,500	Learn More Add Review
First Western Bank Caulksville-Ratcliff Branch	0.60%	$10,000	Learn More Add Review
Intrust Bank, National Association Rogers, Arkansas Branch	0.60%	$0	Learn More Add Review
First Financial Bank Timberlane Branch	0.55%	$10,000	Learn More Add Review
Gateway Bank Gateway Bank Branch	0.51%	$2,500	Learn More Add Review
Bokf, National Association Bk Arkansas Fayetteville Branch	0.50%	$25,000	Learn More
Rate History: 0.55% → 0.50%
Aku \| May 29, 2020 Dua Read More Reviews (1)
Commercial Bank & Trust Company	0.50%	$300	Learn More Add Review
Bank Of England Riverdale Branch	0.50%	$10,000	Learn More Add Review
Riverbank Riverbank Branch	0.50%	$2,500	Learn More Add Review
Legacy National Bank Legacy National Bank Branch	0.50%	$25,000	Learn More Add Review
First State Bank Ola Branch	0.45%	$25,000	Learn More Add Review
First State Bank Carlisle Branch	0.41%	$10,000	Learn More Add Review
Focus Bank Marmaduke Facility Branch	0.40%	$2,500	Learn More Add Review
Riverbank Riverbank Branch	0.40%	$10,000	Learn More Add Review
Legacy National Bank Legacy National Bank Branch	0.40%	$2,500	Learn More Add Review
Smackover State Bank Norphlet Branch	0.35%	$2,500	Learn More Add Review
First State Bank Of Dequeen First State Bank Of Dierks Branch	0.35%	$2,500	Learn More Add Review
Armor Bank Armor Bank, National Association Branch	0.35%	$25,000	Learn More Add Review
Grand Savings Bank Decatur Branch	0.35%	$25,000	Learn More Add Review
Today's Bank Today's Bank Branch	0.32%	$25,000	Learn More Add Review
First State Bank Carlisle Branch	0.31%	$2,500	Learn More Add Review
Cornerstone Bank Berryville Branch	0.30%	$25,000	Learn More
Countrygirl \| Mar 1, 2021 Rates on here are not accurate. Read More Reviews (1)
Fidelity Bank Mid-Continent Branch	0.30%	$2,500	Learn More Add Review
Merchants & Planters' Bank Merchants & Planters' Bank Branch	0.30%	$2,500	Learn More Add Review
Commerce Community Bank The Eudora Bank Main Office Branch	0.30%	$1,000	Learn More Add Review
First Financial Bank Timberlane Branch	0.30%	$2,500	Learn More Add Review
Signature Bank Of Arkansas Bentonville Branch	0.30%	$2,500	Learn More
diane@dianemahan.com \| Oct 23, 2017 How o purchases the special 10% CD rate? Read More Reviews (1)
Connect Bank White Hall Branch	0.30%	$10,000	Learn More Add Review
Armstrong Bank Highway 71 Branch	0.30%	$10,000	Learn More
Jennifer King \| Aug 1, 2019 Who is the owner now this day. Read More Reviews (1)
First State Bank Ola Branch	0.30%	$25,000	Learn More Add Review
Priority Bank Priority Bank Branch	0.30%	$10,000	Learn More
SR \| Dec 2, 2020 Only gave it one star because we had to. We were referred to Priority Bank by Rausch and Coleman homes as we purchased a house from them. That is the only reason we even started a home mortgage with them. ... Read More Reviews (1)
Bank Of Cave City Evening Shade Branch	0.30%	$2,500	Learn More Add Review
Generations Bank Van Buren Branch	0.25%	$2,500	Learn More Add Review
Arvest Bank Conway Branch	0.25%	$100	Learn More Add Review
Today's Bank Today's Bank Branch	0.25%	$2,500	Learn More Add Review
The Peoples Bank Golden Oaks Branch	0.25% 0.20%	$0 $2,500	Learn More
Marsha Sarkela \| Mar 2, 2021 This is NOT CORRECT. Read More Reviews (2)
Southern Bancorp Bank Hamburg Branch	0.25%	$2,500	Learn More Add Review
Farmers Bank Mansfield Branch	0.25%	$25,000	Learn More Add Review
Riverside Bank Riverside Bank Branch	0.25%	$2,500	Learn More Add Review
Bank Of Salem Viola Branch	0.25%	$2,500	Learn More Add Review
Grand Savings Bank Decatur Branch	0.25%	$2,500	Learn More Add Review
Partners Bank West Branch	0.25%	$2,500	Learn More Add Review
Signature Bank Of Arkansas Bentonville Branch	0.25%	$2,500	Learn More
diane@dianemahan.com \| Oct 23, 2017 How o purchases the special 10% CD rate? Read More Reviews (1)
First Horizon Bank	0.25%	$2,500	Learn More
Rate History: 0.30% → 0.25%
D R Lineberger \| Dec 30, 2018 Garden14 Read More Reviews (1)
Bodcaw Bank Bodcaw Bank Branch	0.25%	$2,500	Learn More Add Review
Merchants And Farmers Bank Merchants And Farmers Bank Branch	0.25%	$10,000	Learn More Add Review
The Farmers & Merchants Bank East Branch	0.25%	$10,000	Learn More Add Review
Armor Bank Armor Bank, National Association Branch	0.25%	$2,500	Learn More Add Review
Fidelity Bank Mid-Continent Branch	0.25%	$2,500	Learn More Add Review
Southern Bank Southern Bank Branch	0.25%	$2,500	Learn More Add Review
Bank Of Lake Village Highway Branch	0.25%	$2,500	Learn More Add Review
Chambers Bank North Highway 16 Branch	0.25%	$25,000	Learn More
Lindsy \| Nov 6, 2016 Chambers Bank is the best bank by far! The branch in Mena still has the small town friendly atmosphere. Quick service and they know you by name. Read More Reviews (1)
First Financial Bank Timberlane Branch	0.25%	$2,500	Learn More Add Review
Keybank National Association	0.25%	$5,000	Learn More
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
U.s. Bank National Association One Riverfront Place Branch	0.25%	$25,000	Learn More
Rate History: 4.25% → 4.16% → 4.25% → 3.75% → 0.25%
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (6)
Today's Bank Today's Bank Branch	0.22%	$2,500	Learn More Add Review
The Farmers & Merchants Bank East Branch	0.20%	$10,000	Learn More Add Review
Anstaff Bank Norfork Branch	0.20%	$10,000	Learn More
Farmer Jay \| Sep 14, 2023 My wife and I wanted to purchase a tractor for 25000.00. The equipment company sent us to Anstaff Bank for financing and instructed us to speak with Bailey Booperhamer. When we walked in, he immediately sa... Read More Reviews (3)
First National Bank First National Bank Branch	0.20%	$10	Learn More
Jeflofgren \| May 4, 2021 Very knowledgeable people Read More Reviews (1)
First State Bank Ola Branch	0.20%	$10,000	Learn More Add Review
Generations Bank Van Buren Branch	0.20%	$2,500	Learn More Add Review
Bank Of Cave City Evening Shade Branch	0.20%	$2,500	Learn More Add Review
First National Bank Of North Arkansas Carroll Center Branch	0.20%	$10,000	Learn More Add Review
Farmers Bank & Trust Company North Branch	0.20%	$2,500	Learn More Add Review
The Union Bank Of Mena Hatfield Branch	0.20%	$25,000	Learn More Add Review
Connect Bank White Hall Branch	0.20%	$2,500	Learn More Add Review
Bank Of Lake Village Highway Branch	0.20%	$2,500	Learn More Add Review
Chambers Bank North Highway 16 Branch	0.20%	$10,000	Learn More
Lindsy \| Nov 6, 2016 Chambers Bank is the best bank by far! The branch in Mena still has the small town friendly atmosphere. Quick service and they know you by name. Read More Reviews (1)
Fbt Bank & Mortgage Northwest Branch	0.20%	$25,000	Learn More Add Review
Commercial Bank & Trust Company	0.20%	$2,500	Learn More Add Review
Firstar Bank Fort Smith Branch	0.20%	$10,000	Learn More Add Review
Grand Savings Bank Decatur Branch	0.20%	$50	Learn More Add Review
Cross County Bank First Commercial Bank, Osceola Branch	0.20%	$10,000	Learn More Add Review
First National Bank In Frankfort	0.20%	$0	Learn More Add Review
First Naturalstate Bank Mcgehee Branch	0.15%	$2,500	Learn More Add Review
The Farmers & Merchants Bank East Branch	0.15%	$2,500	Learn More Add Review
Cornerstone Bank Berryville Branch	0.15%	$10,000	Learn More
Countrygirl \| Mar 1, 2021 Rates on here are not accurate. Read More Reviews (1)
Southern Bancorp Bank Hamburg Branch	0.15%	$1	Learn More Add Review
The Citizens Bank Monticello Division Branch	0.15%	$2,500	Learn More Add Review
Merchants & Planters' Bank Merchants & Planters' Bank Branch	0.15%	$2,500	Learn More Add Review
Mcgehee Bank Highway 65 Branch	0.15%	$2,500	Learn More Add Review
Citizens' Bank & Trust Co. Mountainburg Branch	0.15%	$25,000	Learn More Add Review
Southern Bank Southern Bank Branch	0.15%	$2,500	Learn More Add Review
First State Bank Carlisle Branch	0.15%	$2,500	Learn More Add Review
Farmers Bank & Trust Company North Branch	0.15%	$10,000	Learn More Add Review
The Malvern National Bank Main Street Branch	0.15%	$2,500	Learn More
Bobby jean \| Jun 15, 2019 My aunt was treated horrible by okd gray headed teller with glasses at malvern national bank down town and this big fat black man with a too little shirt on and jeans sagging and tammie. This bank is raci... Read More Reviews (1)
First Security Bank West Main Street Branch	0.15%	$10,000	Learn More
Landcdale@gmail.com \| May 3, 2023 Do you cash ee saving bonds Read More Reviews (1)
Bank Of Salem Viola Branch	0.15%	$2,500	Learn More Add Review
Connect Bank White Hall Branch	0.15%	$2,500	Learn More Add Review
Eagle Bank And Trust Company Second And Main Branch	0.15%	$25,000	Learn More Add Review
The Union Bank Of Mena Hatfield Branch	0.15%	$10,000	Learn More Add Review
Focus Bank Marmaduke Facility Branch	0.15%	$2,500	Learn More Add Review
First Community Bank Southside Branch	0.15%	$25,000	Learn More Add Review
Armstrong Bank Highway 71 Branch	0.15%	$50	Learn More
Jennifer King \| Aug 1, 2019 Who is the owner now this day. Read More Reviews (1)
Encore Bank The Capital Bank Branch	0.15%	$25,000	Learn More Add Review
Chambers Bank North Highway 16 Branch	0.15%	$2,500	Learn More
Lindsy \| Nov 6, 2016 Chambers Bank is the best bank by far! The branch in Mena still has the small town friendly atmosphere. Quick service and they know you by name. Read More Reviews (1)
Legacy National Bank Legacy National Bank Branch	0.15%	$2,500	Learn More Add Review
Gateway Bank Gateway Bank Branch	0.15%	$25,000	Learn More Add Review
Merchants And Farmers Bank Merchants And Farmers Bank Branch	0.15%	$1	Learn More Add Review
Fbt Bank & Mortgage Northwest Branch	0.15%	$10,000	Learn More Add Review
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	0.12%	$25,000	Learn More Add Review
The First National Bank Of Lawrence County At Walnut Ridge Pocahontas Branch	0.10%	$2,500	Learn More Add Review
Cornerstone Bank Berryville Branch	0.10%	$2,500	Learn More
Countrygirl \| Mar 1, 2021 Rates on here are not accurate. Read More Reviews (1)
First Community Bank Southside Branch	0.10%	$2,500	Learn More Add Review
Farmers Bank & Trust Company North Branch	0.10%	$2,500	Learn More Add Review
The First National Bank Of Fort Smith Brooken Hill Branch	0.10%	$1	Learn More Add Review
First National Bank First National Bank Branch	0.10%	$5,000	Learn More
Jeflofgren \| May 4, 2021 Very knowledgeable people Read More Reviews (1)
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	0.10%	$100	Learn More Add Review
Gateway Bank Gateway Bank Branch	0.10%	$2,500	Learn More Add Review
The First National Bank Of Izard County Horseshoe Bend Branch	0.10%	$2,500	Learn More Add Review
Southern Bancorp Bank Hamburg Branch	0.10%	$2,500	Learn More Add Review
Fbt Bank & Mortgage Northwest Branch	0.10%	$2,500	Learn More Add Review
Fsnb, National Association Conway Branch	0.10%	$2,500	Learn More Add Review
First National Bank Of North Arkansas Carroll Center Branch	0.10%	$2,500	Learn More Add Review
Anstaff Bank Norfork Branch	0.10%	$2,500	Learn More
Farmer Jay \| Sep 14, 2023 My wife and I wanted to purchase a tractor for 25000.00. The equipment company sent us to Anstaff Bank for financing and instructed us to speak with Bailey Booperhamer. When we walked in, he immediately sa... Read More Reviews (3)
The Farmers & Merchants Bank East Branch	0.10%	$2,500	Learn More Add Review
Bokf, National Association Bk Arkansas Fayetteville Branch	0.10%	$0	Learn More
Rate History: 0.20% → 0.10%
Aku \| May 29, 2020 Dua Read More Reviews (1)
Eagle Bank And Trust Company Second And Main Branch	0.10%	$10,000	Learn More Add Review
United Bank Fayetteville Branch	0.10%	$2,500	Learn More Add Review
Fnbc Bank Messenger Service Branch	0.10%	$200	Learn More Add Review
Stone Bank Stone Bank Branch	0.10%	$2,500	Learn More Add Review
First Security Bank West Main Street Branch	0.10%	$2,500	Learn More
Landcdale@gmail.com \| May 3, 2023 Do you cash ee saving bonds Read More Reviews (1)
Commercial National Bank Of Texarkana Fouke Branch	0.10%	$2,500	Learn More Add Review
Union Bank & Trust Company University Branch	0.10%	$2,500	Learn More Add Review
Bank Of Little Rock Heights Branch	0.10%	$100	Learn More Add Review
Encore Bank The Capital Bank Branch	0.10%	$2,500	Learn More Add Review
Bank Of England Riverdale Branch	0.10%	$2,500	Learn More Add Review
The Union Bank Of Mena Hatfield Branch	0.10%	$2,500	Learn More Add Review
The Malvern National Bank Main Street Branch	0.10%	$10,000	Learn More
Bobby jean \| Jun 15, 2019 My aunt was treated horrible by okd gray headed teller with glasses at malvern national bank down town and this big fat black man with a too little shirt on and jeans sagging and tammie. This bank is raci... Read More Reviews (1)
First Financial Bank Timberlane Branch	0.10%	$2,500	Learn More Add Review
Citizens' Bank & Trust Co. Mountainburg Branch	0.10%	$2,500	Learn More Add Review
Riverbank Riverbank Branch	0.10%	$2,500	Learn More Add Review
The Citizens Bank Monticello Division Branch	0.10%	$2,500	Learn More Add Review
Centennial Bank Rodney Parham Road Branch	0.10%	$2,500	Learn More
Asj \| Nov 15, 2020 Do they? Read More Reviews (1)
Chambers Bank North Highway 16 Branch	0.10%	$2,500	Learn More
Lindsy \| Nov 6, 2016 Chambers Bank is the best bank by far! The branch in Mena still has the small town friendly atmosphere. Quick service and they know you by name. Read More Reviews (1)
First State Bank Ola Branch	0.10%	$1	Learn More Add Review
Relyance Bank, National Association Relyance Bank, National Association Branch	0.10%	$2,500	Learn More Add Review
First Western Bank Caulksville-Ratcliff Branch	0.10%	$2,500	Learn More Add Review
Priority Bank Priority Bank Branch	0.10%	$2,500	Learn More
SR \| Dec 2, 2020 Only gave it one star because we had to. We were referred to Priority Bank by Rausch and Coleman homes as we purchased a house from them. That is the only reason we even started a home mortgage with them. ... Read More Reviews (1)
Cross County Bank First Commercial Bank, Osceola Branch	0.10%	$2,500	Learn More Add Review
Texana Bank, National Association Arkansas Blvd Branch	0.10%	$25,000	Learn More
Steve \| Mar 19, 2021 ... Read More Reviews (2)
Petit Jean State Bank Petit Jean State Bank Branch	0.08%	$2,500	Learn More Add Review
Relyance Bank, National Association Relyance Bank, National Association Branch	0.08%	$2,500	Learn More Add Review
Farmers Bank Mansfield Branch	0.08%	$2,500	Learn More Add Review
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	0.07%	$10,000	Learn More Add Review
Fnbc Bank Messenger Service Branch	0.06%	$5,000	Learn More Add Review
Equity Bank Berryville Branch	0.05% 0.03%	$0 $100,000	Learn More Add Review
First Arkansas Bank And Trust Clinton Branch	0.05%	$2,500	Learn More
Jane Voshell \| Aug 4, 2023 Our Mastercard was transferred to this bank 10 yrs ago. One account--two cards. Fraud on EACH card began occurring in April 2023. Their fraud group cancelled each compromised card and issued new ones each... Read More Reviews (1)
Farmers Bank Mansfield Branch	0.05%	$2,500	Learn More Add Review
Generations Bank Van Buren Branch	0.05%	$100	Learn More Add Review
Commercial National Bank Of Texarkana Fouke Branch	0.05%	$2,500	Learn More Add Review
Texana Bank, National Association Arkansas Blvd Branch	0.05%	$10,000	Learn More
Steve \| Mar 19, 2021 ... Read More Reviews (2)
Farmers Bank & Trust Company North Branch	0.05%	$2,500	Learn More Add Review
Stone Bank Stone Bank Branch	0.05%	$2,500	Learn More Add Review
Centennial Bank Rodney Parham Road Branch	0.05%	$2,500	Learn More
Asj \| Nov 15, 2020 Do they? Read More Reviews (1)
Petit Jean State Bank Petit Jean State Bank Branch	0.05%	$2,500	Learn More Add Review
Eagle Bank And Trust Company Second And Main Branch	0.05%	$2,500	Learn More Add Review
Citizens' Bank & Trust Co. Mountainburg Branch	0.05%	$2,500	Learn More Add Review
The First National Bank Of Izard County Horseshoe Bend Branch	0.05%	$2,500	Learn More Add Review
Encore Bank The Capital Bank Branch	0.05%	$2,500	Learn More Add Review
Cornerstone Bank Berryville Branch	0.05%	$2,500	Learn More
Countrygirl \| Mar 1, 2021 Rates on here are not accurate. Read More Reviews (1)
First State Bank Ola Branch	0.05%	$1	Learn More Add Review
Evolve Bank & Trust Evolve Bank & Trust Branch	0.05%	$100	Learn More Add Review
The Farmers & Merchants Bank East Branch	0.05%	$2,500	Learn More Add Review
Bank Ozk Malvern Branch	0.05%	$0	Learn More
HB \| Sep 12, 2023 Can not cash a check at the branch on Chenal, because I did not have an appointment for the lobby. Could not use the Window service, it closes at 2pm on a Friday. I have a business account and am finding... Read More Reviews (11)
Bank Of America, National Association Geyer Springs Branch	0.04%	$2,500	Learn More
Treasure \| Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More Reviews (11)
First National Bank Of Eastern Arkansas Wheatley Branch	0.03%	$2,500	Learn More Add Review
Texana Bank, National Association Arkansas Blvd Branch	0.03%	$2,500	Learn More
Steve \| Mar 19, 2021 ... Read More Reviews (2)
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	0.02%	$2,500	Learn More Add Review
Pnc Bank, National Association	0.02%	$50,000	Learn More
Rate History: 1.00% → 0.05% → 0.02%
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Fnbc Bank Messenger Service Branch	0.02%	$1,000	Learn More Add Review
Jpmorgan Chase Bank, National Association	0.02%	$25,000	Learn More
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (25)
Pnc Bank, National Association	0.01%	$2,500	Learn More
Rate History: 0.03% → 0.01%
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Regions Bank Fairfield Bay Branch	0.01%	$0	Learn More Add Review
Keybank National Association	0.01%	$1	Learn More
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
Firstar Bank Fort Smith Branch	0.01%	$1,000	Learn More Add Review

All rates listed are Annual Percentage Yield (APY). The APY rate in a savings account or money market account is a variable rate that is subject to change at any point. The Min listed is the minimum deposit account balance required to obtain the rate listed.

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Branches Info across Arkansas

Branch	Street	City	State
Regions Bank Fairfield Bay Branch	121 Lost Creek Parkway	Fairfield Bay	AR
U.S. Bank National Association One Riverfront Place Branch	One Riverfront Place	North Little Rock	AR
Intrust Bank, National Association Rogers, Arkansas Branch	3300 Market Street	Rogers	AR
Arvest Bank Conway Branch	812 Oak Steet	Conway	AR
Arvest Bank Conway Branch	812 Oak Steet	Conway	AR
Arvest Bank Conway Branch	812 Oak Steet	Conway	AR
Arvest Bank Conway Branch	812 Oak Steet	Conway	AR
Intrust Bank, National Association Rogers, Arkansas Branch	3300 Market Street	Rogers	AR
Regions Bank Fairfield Bay Branch	121 Lost Creek Parkway	Fairfield Bay	AR
BOKF, National Association Bk Arkansas Fayetteville Branch	3500 North College Ave	Fayetteville	AR
Wells Fargo Bank, National Association Ashdown Branch	960 South Constitution Avenue	Ashdown	AR
BOKF, National Association Bk Arkansas Fayetteville Branch	3500 North College Ave	Fayetteville	AR
Bank of Little Rock Heights Branch	5120 Kavanaugh	Little Rock	AR
Texana Bank, National Association Arkansas Blvd Branch	502 Arkansas Blvd	Texarkana	AR
Bodcaw Bank Bodcaw Bank Branch	307 Thomas Street	Stamps	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
BOKF, National Association Bk Arkansas Fayetteville Branch	3500 North College Ave	Fayetteville	AR
Riverside Bank Riverside Bank Branch	Commerce And Main Streets	Sparkman	AR
BOKF, National Association Bk Arkansas Fayetteville Branch	3500 North College Ave	Fayetteville	AR
Bank of Little Rock Heights Branch	5120 Kavanaugh	Little Rock	AR
First State Bank Carlisle Branch	213 North Court	Carlisle	AR
Smackover State Bank Norphlet Branch	300 East Padgett Road	Norphlet	AR
First Western Bank Caulksville-Ratcliff Branch	9418 West State Hwy 22	Caulksville	AR
Intrust Bank, National Association Rogers, Arkansas Branch	3300 Market Street	Rogers	AR
First Financial Bank Timberlane Branch	500 Timberlane	El Dorado	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
Gateway Bank Gateway Bank Branch	112 Main Street	Rison	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
BOKF, National Association Bk Arkansas Fayetteville Branch	3500 North College Ave	Fayetteville	AR
Bank of England Riverdale Branch	1320 Rebsamen Park Road	Little Rock	AR
RiverBank Riverbank Branch	1700 Old County Road	Pocahontas	AR
Legacy National Bank Legacy National Bank Branch	4901 W Pauline Whitaker Parkway	Rogers	AR
Bank of Little Rock Heights Branch	5120 Kavanaugh	Little Rock	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
First State Bank Ola Branch	Fourche Avenue At Boles Street	Ola	AR
First State Bank Carlisle Branch	213 North Court	Carlisle	AR
Focus Bank Marmaduke Facility Branch	7281 Highway 34 East	Marmaduke	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
RiverBank Riverbank Branch	1700 Old County Road	Pocahontas	AR
Legacy National Bank Legacy National Bank Branch	4901 W Pauline Whitaker Parkway	Rogers	AR
Smackover State Bank Norphlet Branch	300 East Padgett Road	Norphlet	AR
First State Bank of DeQueen First State Bank Of Dierks Branch	507 Front St	Dierks	AR
Armor Bank Armor Bank, National Association Branch	715 N Washington	Forrest City	AR
Grand Savings Bank Decatur Branch	372 Sh 59 N	Decatur	AR
Today's Bank Today's Bank Branch	432 Madison 1650	Huntsville	AR
First State Bank Carlisle Branch	213 North Court	Carlisle	AR
CS Bank Berryville Branch	907 W Trimble	Berryville	AR
Fidelity Bank Mid-Continent Branch	350 West Service Road	West Memphis	AR
Merchants & Planters' Bank Merchants & Planters' Bank Branch	Second And Hazel Streets	Newport	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
Currency Bank The Eudora Bank Main Office Branch	111 North Main Street	Eudora	AR
First Financial Bank Timberlane Branch	500 Timberlane	El Dorado	AR
Signature Bank of Arkansas Bentonville Branch	700 S. E. Walton Boulevard, Suite #2	Bentonville	AR
Connect Bank White Hall Branch	7101 Dollarway Rd	White Hall	AR
Armstrong Bank Highway 71 Branch	9201 Highway 71 South	Fort Smith	AR
First State Bank Ola Branch	Fourche Avenue At Boles Street	Ola	AR
Priority Bank Priority Bank Branch	3401 East Mission Blvd	Fayetteville	AR
Bank of Cave City Evening Shade Branch	2089 Evening Shade Drive	Evening Shade	AR
Generations Bank Van Buren Branch	2925 Alma Highway	Van Buren	AR
Arvest Bank Conway Branch	812 Oak Steet	Conway	AR
Today's Bank Today's Bank Branch	432 Madison 1650	Huntsville	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
Southern Bancorp Bank Hamburg Branch	210 North Main	Hamburg	AR
Farmers Bank Mansfield Branch	16 Huntington Avenue	Mansfield	AR
Riverside Bank Riverside Bank Branch	Commerce And Main Streets	Sparkman	AR
Bank of Salem Viola Branch	9338 Hwy 62 West	Viola	AR
Grand Savings Bank Decatur Branch	372 Sh 59 N	Decatur	AR
Partners Bank West Branch	Highway 49	West Helena	AR
Signature Bank of Arkansas Bentonville Branch	700 S. E. Walton Boulevard, Suite #2	Bentonville	AR
Bodcaw Bank Bodcaw Bank Branch	307 Thomas Street	Stamps	AR
Merchants and Farmers Bank Merchants And Farmers Bank Branch	500 Highway 65 South	Dumas	AR
The Farmers & Merchants Bank East Branch	1846 North Crossover Road	Fayetteville	AR
Armor Bank Armor Bank, National Association Branch	715 N Washington	Forrest City	AR
Fidelity Bank Mid-Continent Branch	350 West Service Road	West Memphis	AR
Southern Bank Southern Bank Branch	601 North Holman	Brookland	AR
Bank of Lake Village Highway Branch	1015 Us Highway 65	Lake Village	AR
Chambers Bank North Highway 16 Branch	2019 North Center Street	Elkins	AR
First Financial Bank Timberlane Branch	500 Timberlane	El Dorado	AR
U.S. Bank National Association One Riverfront Place Branch	One Riverfront Place	North Little Rock	AR
Today's Bank Today's Bank Branch	432 Madison 1650	Huntsville	AR
The Farmers & Merchants Bank East Branch	1846 North Crossover Road	Fayetteville	AR
Anstaff Bank Norfork Branch	23 Wolf Street	Norfork	AR
First National Bank First National Bank Branch	Second And Court Streets	Paragould	AR
First State Bank Ola Branch	Fourche Avenue At Boles Street	Ola	AR
Generations Bank Van Buren Branch	2925 Alma Highway	Van Buren	AR
Bank of Cave City Evening Shade Branch	2089 Evening Shade Drive	Evening Shade	AR
Bank of 1889 Carroll Center Branch	910 West Trimble Suite 1	Berryville	AR
Farmers Bank & Trust Company North Branch	617 North Hervey	Hope	AR
The Peoples Bank Golden Oaks Branch	East Dixon And South Walnut Streets	Waldo	AR
Union Bank Hatfield Branch	Highway 71 North At Taylor Street	Hatfield	AR
Connect Bank White Hall Branch	7101 Dollarway Rd	White Hall	AR
Bank of Lake Village Highway Branch	1015 Us Highway 65	Lake Village	AR
Chambers Bank North Highway 16 Branch	2019 North Center Street	Elkins	AR
FBT Bank & Mortgage Northwest Branch	Upton Drive And U.S. Highway 79-167	Fordyce	AR
Firstar Bank Fort Smith Branch	4300 Rogers Avenue, Suite 7	Fort Smith	AR
Grand Savings Bank Decatur Branch	372 Sh 59 N	Decatur	AR
Cross Bank First Commercial Bank, Osceola Branch	750 West Keiser	Osceola	AR
First Naturalstate Bank Mcgehee Branch	703 Ushwy 65 N.	Mcgehee	AR
The Farmers & Merchants Bank East Branch	1846 North Crossover Road	Fayetteville	AR
CS Bank Berryville Branch	907 W Trimble	Berryville	AR
Southern Bancorp Bank Hamburg Branch	210 North Main	Hamburg	AR
The Citizens Bank Monticello Division Branch	555 West Gaines Street	Monticello	AR
Merchants & Planters' Bank Merchants & Planters' Bank Branch	Second And Hazel Streets	Newport	AR
McGehee Bank Highway 65 Branch	Highway 65 South	Mcgehee	AR
Citizens' Bank & Trust Co. Mountainburg Branch	124 Us Highway 71 North	Mountainburg	AR
Southern Bank Southern Bank Branch	601 North Holman	Brookland	AR
First State Bank Carlisle Branch	213 North Court	Carlisle	AR
Farmers Bank & Trust Company North Branch	617 North Hervey	Hope	AR
The Malvern National Bank Main Street Branch	127 Pine Bluff Street	Malvern	AR
First Security Bank West Main Street Branch	191 West Main Street	Farmington	AR
Bank of Salem Viola Branch	9338 Hwy 62 West	Viola	AR
Connect Bank White Hall Branch	7101 Dollarway Rd	White Hall	AR
Eagle Bank and Trust Company Second And Main Branch	Second And Main Streets	Heber Springs	AR
Union Bank Hatfield Branch	Highway 71 North At Taylor Street	Hatfield	AR
Focus Bank Marmaduke Facility Branch	7281 Highway 34 East	Marmaduke	AR
First Community Bank Southside Branch	One Allen Chapel Road	Batesville	AR
Armstrong Bank Highway 71 Branch	9201 Highway 71 South	Fort Smith	AR
ENCORE BANK The Capital Bank Branch	12224 Chenal Parkway	Little Rock	AR
Chambers Bank North Highway 16 Branch	2019 North Center Street	Elkins	AR
Legacy National Bank Legacy National Bank Branch	4901 W Pauline Whitaker Parkway	Rogers	AR
Gateway Bank Gateway Bank Branch	112 Main Street	Rison	AR
Merchants and Farmers Bank Merchants And Farmers Bank Branch	500 Highway 65 South	Dumas	AR
FBT Bank & Mortgage Northwest Branch	Upton Drive And U.S. Highway 79-167	Fordyce	AR
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	2522 Pinnacle Hills Parkway, Suite 101	Rogers	AR
First National Bank Of Commerce Pocahontas Branch	1755 Hwy 62 West	Pocahontas	AR
CS Bank Berryville Branch	907 W Trimble	Berryville	AR
First Community Bank Southside Branch	One Allen Chapel Road	Batesville	AR
Farmers Bank & Trust Company North Branch	617 North Hervey	Hope	AR
The First National Bank of Fort Smith Brooken Hill Branch	9300 Highway 71 South	Fort Smith	AR
First National Bank First National Bank Branch	Second And Court Streets	Paragould	AR
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	2522 Pinnacle Hills Parkway, Suite 101	Rogers	AR
Gateway Bank Gateway Bank Branch	112 Main Street	Rison	AR
The First National Bank of Izard County Horseshoe Bend Branch	South Bend Drive	Horseshoe Bend	AR
Southern Bancorp Bank Hamburg Branch	210 North Main	Hamburg	AR
FBT Bank & Mortgage Northwest Branch	Upton Drive And U.S. Highway 79-167	Fordyce	AR
FSNB, National Association Conway Branch	3900 Dave Ward Drive	Conway	AR
Bank of 1889 Carroll Center Branch	910 West Trimble Suite 1	Berryville	AR
Anstaff Bank Norfork Branch	23 Wolf Street	Norfork	AR
The Farmers & Merchants Bank East Branch	1846 North Crossover Road	Fayetteville	AR
BOKF, National Association Bk Arkansas Fayetteville Branch	3500 North College Ave	Fayetteville	AR
Eagle Bank and Trust Company Second And Main Branch	Second And Main Streets	Heber Springs	AR
United Bank Fayetteville Branch	670 East Joyce Boulevard	Fayetteville	AR
FNBC Bank Messenger Service Branch	636 Ash Flat Drive	Ash Flat	AR
Stone Bank Stone Bank Branch	802 East Main Street	Mountain View	AR
First Security Bank West Main Street Branch	191 West Main Street	Farmington	AR
Commercial National Bank of Texarkana Fouke Branch	U.S. Highway 71 And Redcut Road	Fouke	AR
Union Bank & Trust Company University Branch	569 Us 425	Monticello	AR
Bank of Little Rock Heights Branch	5120 Kavanaugh	Little Rock	AR
ENCORE BANK The Capital Bank Branch	12224 Chenal Parkway	Little Rock	AR
Bank of England Riverdale Branch	1320 Rebsamen Park Road	Little Rock	AR
Union Bank Hatfield Branch	Highway 71 North At Taylor Street	Hatfield	AR
The Malvern National Bank Main Street Branch	127 Pine Bluff Street	Malvern	AR
First Financial Bank Timberlane Branch	500 Timberlane	El Dorado	AR
Citizens' Bank & Trust Co. Mountainburg Branch	124 Us Highway 71 North	Mountainburg	AR
RiverBank Riverbank Branch	1700 Old County Road	Pocahontas	AR
The Citizens Bank Monticello Division Branch	555 West Gaines Street	Monticello	AR
Centennial Bank Rodney Parham Road Branch	9712 Rodney Parham Road	Little Rock	AR
Chambers Bank North Highway 16 Branch	2019 North Center Street	Elkins	AR
First State Bank Ola Branch	Fourche Avenue At Boles Street	Ola	AR
Relyance Bank Relyance Bank, National Association Branch	912 South Poplar Street	Pine Bluff	AR
First Western Bank Caulksville-Ratcliff Branch	9418 West State Hwy 22	Caulksville	AR
Priority Bank Priority Bank Branch	3401 East Mission Blvd	Fayetteville	AR
Cross Bank First Commercial Bank, Osceola Branch	750 West Keiser	Osceola	AR
Texana Bank, National Association Arkansas Blvd Branch	502 Arkansas Blvd	Texarkana	AR
Petit Jean State Bank Petit Jean State Bank Branch	707 North St. Joseph Street	Morrilton	AR
Relyance Bank Relyance Bank, National Association Branch	912 South Poplar Street	Pine Bluff	AR
Farmers Bank Mansfield Branch	16 Huntington Avenue	Mansfield	AR
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	2522 Pinnacle Hills Parkway, Suite 101	Rogers	AR
FNBC Bank Messenger Service Branch	636 Ash Flat Drive	Ash Flat	AR
Equity Bank Berryville Branch	911 W. Trimble	Berryville	AR
First Arkansas Bank and Trust Clinton Branch	185 Bone Street	Clinton	AR
Farmers Bank Mansfield Branch	16 Huntington Avenue	Mansfield	AR
Generations Bank Van Buren Branch	2925 Alma Highway	Van Buren	AR
Commercial National Bank of Texarkana Fouke Branch	U.S. Highway 71 And Redcut Road	Fouke	AR
Texana Bank, National Association Arkansas Blvd Branch	502 Arkansas Blvd	Texarkana	AR
Farmers Bank & Trust Company North Branch	617 North Hervey	Hope	AR
Stone Bank Stone Bank Branch	802 East Main Street	Mountain View	AR
Centennial Bank Rodney Parham Road Branch	9712 Rodney Parham Road	Little Rock	AR
Petit Jean State Bank Petit Jean State Bank Branch	707 North St. Joseph Street	Morrilton	AR
Eagle Bank and Trust Company Second And Main Branch	Second And Main Streets	Heber Springs	AR
Citizens' Bank & Trust Co. Mountainburg Branch	124 Us Highway 71 North	Mountainburg	AR
The First National Bank of Izard County Horseshoe Bend Branch	South Bend Drive	Horseshoe Bend	AR
ENCORE BANK The Capital Bank Branch	12224 Chenal Parkway	Little Rock	AR
CS Bank Berryville Branch	907 W Trimble	Berryville	AR
First State Bank Ola Branch	Fourche Avenue At Boles Street	Ola	AR
Evolve Bank & Trust Evolve Bank & Trust Branch	301 Shoppingway Boulevard	West Memphis	AR
The Farmers & Merchants Bank East Branch	1846 North Crossover Road	Fayetteville	AR
Bank OZK Malvern Branch	608 East Page	Malvern	AR
U.S. Bank National Association One Riverfront Place Branch	One Riverfront Place	North Little Rock	AR
Bank of America, National Association Geyer Springs Branch	8200 Geyer Springs Road	Little Rock	AR
First National Bank of Eastern Arkansas Wheatley Branch	108 Little Rock Street	Wheatley	AR
Equity Bank Berryville Branch	911 W. Trimble	Berryville	AR
Texana Bank, National Association Arkansas Blvd Branch	502 Arkansas Blvd	Texarkana	AR
Great Southern Bank Southern Bankcorp Bank Of Trumann Br Branch	2522 Pinnacle Hills Parkway, Suite 101	Rogers	AR
FNBC Bank Messenger Service Branch	636 Ash Flat Drive	Ash Flat	AR
Wells Fargo Bank, National Association Ashdown Branch	960 South Constitution Avenue	Ashdown	AR
Regions Bank Fairfield Bay Branch	121 Lost Creek Parkway	Fairfield Bay	AR
Firstar Bank Fort Smith Branch	4300 Rogers Avenue, Suite 7	Fort Smith	AR

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

ARKANSAS SAVINGS ACCOUNT ENVIRONMENT

Banks in Arkansas play a crucial role in the state's economy, assisting individuals, businesses, and the government with financial services. Arkansas has large national banks, regional banks, community banks, and credit unions.

Arkansas has a generally stable savings rate environment, influenced by various factors such as economic conditions, interest rates, and consumer behavior.

The savings rate environment in Arkansas is influenced by several factors, such as economic conditions, the national interest rate environment set by the Federal Reserve and consumer behavior:

1. Economic Conditions: The overall economic health of the state greatly impacts the savings rate. During periods of economic growth and low unemployment rates, people tend to save more. Conversely, during economic downturns or recessions, savings may decrease as people face financial difficulties. The availability of people's savings (supply) and the banks' need to for capital (demand) may impact the rates that are being offered.

2. Interest Rates: The level of interest rates affects the profitability of saving. When interest rates are high, people are encouraged to save more, as they can earn more on their savings. Conversely, when interest rates are low, people may prefer to spend or invest in other assets rather than save.

3. Consumer Behavior and Confidence: Consumer confidence plays a significant role in determining the savings rate. If consumers feel optimistic about the future and have faith in the stability of the economy, they may be more inclined to save. However, if consumers are uncertain about their financial prospects, they may be less likely to save.

FREQUENTLY ASKED QUESTIONS ABOUT LOCAL SAVINGS RATES

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. Banks have different cost structures and they also have different needs for capital. This leads to different rates.

BestCashCow’s surveys show that online banks offer higher savings and CD rates because they have lower expenses from not having to maintain brick-and-mortar locations. Therefore, we strongly recommend that all depositors consider the rates at online banks as savings and money market accounts online can easy be set up to enable quick transfers to your favorite local bank.

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). Most savvy consumers who plan their expenses and financial needs ahead find the additional functionality offered by money markets to be of little value and will choose whichever account (savings or money market) has the higher rate.

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 Certificate of Deposit, 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 & CD Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.

8 POINT CHECKLIST FOR A GREAT BANKING RELATIONSHIP WITH YOUR LOCAL BANK

Find a bank with a location convenient to you. Location counts.
Choose a bank with good rates. Rates are important to get continued growth of your capital.
Choose a bank with an extensive network of fee-free ATM machines or which reimburses out-of-network ATM fees, if you still need to regularly access cash.
Avoid fees. Choose a bank which doesn’t have service fees provided you maintain a certain balance, which doesn’t charge for ACH inbound and outbound transfers, and which has low fees for things like international wire transfers and bounced checks.
Choose a healthy bank. If you click on a bank above, you’ll be taken to the bank’s financial detail. A healthy bank has happy employees and provides loyal service to its customers. No matter how healthy your bank is, stay within FDIC insurance limits.
Find something of value to offset what may be slightly lower rates than online accounts offer. Develop personal relationship with your bankers. Personal relationships can help you to get appropriate financial advice, and to navigate financial challenges and needs in the future. (Be careful with the financial advice you receive. Inappropriate financial advice is worth a lot less than no financial advice.) They can also put you in touch with others in your community who could be valuable personally and professionally to know. If you don't use your local savings account as an opportunity to build these relationships, you may find that you are better of banking online.
Choose a bank that is going to let you access your cash when you need. The great benefit of savings accounts over any other financial product (including CDs) is that you have absolute liquidity. If your bank in creating impediments to accessing your cash (paperwork, fees, etc.), then you need another bank.
Be aware that you can have more than one account. Having a great local savings account at a large or small bank near you can be great, but it doesn't need to stop you from opening one or more online savings accounts, or even developing a relationship with another local bank or credit union.