Best Local Bank Savings and Money Market Rates in Lombard, Illinois, IL June 15, 2025

You are viewing savings rates from banks in Lombard, Illinois

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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!

Lombard, IL - June 15, 2025

Savings Account National Average Rate: 0.45% ^?

Banks	APY	MIN
Republic Bank Of Chicago West Chicago Branch	5.01%	$2,500	Learn More Add Review
Rate History: 5.21% → 5.01%
Citibank, National Association St Charles Branch	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)
Evergreen Bank Group Evergreen Bank Group Branch	4.25%	$0	Learn More Add Review
Rate History: 5.25% → 4.75% → 4.50% → 4.25%
Busey Bank Plainfield Br Branch	4.00% 3.25% 0.05%	$100,000 $25,000 $0	Learn More
Rate History: 4.80% → 4.50% → 4.30% → 4.05% → 4.00%
mumsy@grics.net \| Nov 17, 2021 Does Busey Bank cash Series EE Savings Bonds? Read More Reviews (1)
Byline Bank 10 South Madison Branch	4.00%	$25,000	Learn More Add Review
Rate History: 4.85% → 4.00%
The Huntington National Bank Auroa Branch	3.92%	$25,000	Learn More
Rate History: 4.70% → 4.18% → 3.92%
Allan \| Mar 18, 2021 I called Huntington yesterday and the branch manager told me that the rate listed on Best Cash Cow doesn't exist......... Read More Reviews (1)
International Bank Of Chicago Stone Park Branch	3.90% 3.60% 2.35%	$250,000 $100,000 $2,500	Learn More
Rate History: 4.65% → 4.60% → 4.34% → 4.15% → 3.90%
Mandy \| May 8, 2021 Location: 5069 N. Broadway Chicago IL 60640 Read More Reviews (5)
Beal Bank Usa Chicago Branch	3.75%	$500	Learn More
Rate History: 4.25% → 3.75%
george \| Feb 9, 2021 The wonderful assistants at Beal Bank are wonderful. Rebeca took great care of me and made sure all my concerns were addressed. Read More Reviews (3)
Beal Bank Usa Chicago Branch	3.50%	$25,000	Learn More
Rate History: 4.00% → 3.50%
george \| Feb 9, 2021 The wonderful assistants at Beal Bank are wonderful. Rebeca took great care of me and made sure all my concerns were addressed. Read More Reviews (3)
U.s. Bank National Association St. Charles Meijer 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)
Woodforest National Bank 0165 Montgomery Walmart Branch	3.25% 2.25% 1.75% 1.25% 0.35%	$500,000 $250,000 $100,000 $1 $0	Learn More
Rate History: 4.00% → 3.75% → 3.50% → 3.25%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
Bank Of Hope Naperville Branch	3.05%	$1,000	Learn More
NORTY FLATZ \| Dec 3, 2019 Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future. Read More Reviews (1)
Bmo Bank National Association Harris Bk Aurora Na Branch	2.94% 2.22% 1.20% 0.80%	$250,000 $100,000 $25,000 $0	Learn More
Rate History: 2.00% → 3.56% → 3.30% → 3.09% → 2.94%
Beenthere \| Jan 29, 2024 Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in oth... Read More Reviews (9)
The Federal Savings Bank The Federal Savings Bank Branch	2.50%	$2,000	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)
Heartland Bank And Trust Company Heartland Bank And Trust Company Branch	2.27% 1.51%	$500,000 $50,000	Learn More Add Review
Wells Fargo Bank, National Association Schaumburg 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)
International Bank Of Chicago Stone Park Branch	1.00%	$200	Learn More
Rate History: 1.25% → 1.00%
Mandy \| May 8, 2021 Location: 5069 N. Broadway Chicago IL 60640 Read More Reviews (5)
Heartland Bank And Trust Company Heartland Bank And Trust Company Branch	0.50%	$500,000	Learn More Add Review
Rate History: 0.03% → 0.50%
Evergreen Bank Group Evergreen Bank Group Branch	0.50% 0.40% 0.30%	$25,000 $10,000 $2,500	Learn More Add Review
Millennium Bank Millennium Bank Branch	0.50%	$2,500	Learn More Add Review
American Metro Bank American Metro Bank Branch	0.40%	$25,000	Learn More Add Review
Woodforest National Bank 0165 Montgomery Walmart Branch	0.40% 0.25%	$10,000 $0	Learn More
Rate History: 1.00% → 0.50% → 0.40%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
Cnb Bank And Trust, N.a. Palos Heights Branch	0.35%	$200	Learn More Add Review
Peoplefirst Bank Peoplefirst Bank Branch	0.35%	$2,500	Learn More Add Review
Bankfinancial, National Association 1401 N Larkin Ave Branch	0.30%	$10,000	Learn More Add Review
United Fidelity Bank, Fsb United Fidelity Bank, Fsb Branch	0.30%	$25,000	Learn More Add Review
American Metro Bank American Metro Bank Branch	0.30%	$2,500	Learn More Add Review
United Trust Bank United Trust Bank Branch	0.28%	$2,500	Learn More Add Review
First Secure Bank And Trust Co. First Secure Bank And Trust Co. Branch	0.26%	$25,000	Learn More Add Review
Centrust Bank, National Association Centrust Bank, National Association Branch	0.25%	$2,500	Learn More
RobertJ \| May 10, 2022 Centrust Bank is excellent to do business with. Friendly and experienced bankers. Read More Reviews (1)
Cathay Bank Chicago -westmont Branch	0.25% 0.20%	$1,000,000 $500,000	Learn More Add Review
Mutual Federal Bank Mutual Federal Bank Branch	0.25%	$100	Learn More Add Review
Devon Bank Wheeling Branch	0.25%	$25,000	Learn More Add Review
The Federal Savings Bank The Federal Savings Bank Branch	0.25%	$100	Learn More Add Review
U.s. Bank National Association St. Charles Meijer 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)
Allied First Bank,sb Allied First Bank,sb Branch	0.20%	$25,000	Learn More Add Review
Cibm Bank Avenue Bank Branch	0.20%	$25,000	Learn More
theee \| Dec 26, 2017 Good people to deal with. Competitive rates better than CEFCU. Easy in/out processing of CD's & MM. Read More Reviews (1)
First State Bank North Aurora Office Branch	0.20%	$2,500	Learn More Add Review
Centrust Bank, National Association Centrust Bank, National Association Branch	0.20%	$10,000	Learn More
RobertJ \| May 10, 2022 Centrust Bank is excellent to do business with. Friendly and experienced bankers. Read More Reviews (1)
Sterling Bank Sterling Bank Branch	0.20%	$2,500	Learn More
Al \| Sep 26, 2016 I think the specials have ended. can you double check? Read More Reviews (1)
Amalgamated Bank Of Chicago Warrenville Branch	0.20%	$250	Learn More Add Review
Pan American Bank & Trust Palatine Il Branch	0.20%	$2,500	Learn More Add Review
Community Bank Of Elmhurst Lexington Square Branch	0.20%	$25,000	Learn More Add Review
Lisle Savings Bank 1700 Robin Lane Facility Branch	0.20%	$2,500	Learn More Add Review
Devon Bank Wheeling Branch	0.20%	$1	Learn More Add Review
Old Second National Bank Orchard Branch	0.20% 0.10%	$100,000 $25,000	Learn More Add Review
Rate History: 0.25% → 0.20%
Brickyard Bank Brickyard Bank Branch	0.20%	$25,000	Learn More Add Review
First Secure Bank And Trust Co. First Secure Bank And Trust Co. Branch	0.20%	$10,000	Learn More Add Review
First National Bank In Frankfort	0.20%	$0	Learn More Add Review
Allied First Bank,sb Allied First Bank,sb Branch	0.15%	$2,500	Learn More Add Review
First State Bank North Aurora Office Branch	0.15%	$2,500	Learn More Add Review
Centrust Bank, National Association Centrust Bank, National Association Branch	0.15%	$2,500	Learn More
RobertJ \| May 10, 2022 Centrust Bank is excellent to do business with. Friendly and experienced bankers. Read More Reviews (1)
Bankfinancial, National Association 1401 N Larkin Ave Branch	0.15%	$2,500	Learn More Add Review
Northbrook Bank And Trust Company, National Association Buffalo Grove Branch	0.15%	$10,000	Learn More Add Review
The State Bank Of Geneva The State Bank Of Geneva Branch	0.15%	$25,000	Learn More Add Review
Hometown National Bank Joliet Branch	0.15%	$2,500	Learn More Add Review
Forest Park National Bank And Trust Company Forest Park National Bank And Trust Branch	0.15%	$25,000	Learn More Add Review
United Fidelity Bank, Fsb United Fidelity Bank, Fsb Branch	0.15%	$2,500	Learn More Add Review
Community Bank Of Elmhurst Lexington Square Branch	0.15%	$2,500	Learn More Add Review
Grand Ridge National Bank Grand Ridge National Bank Branch	0.15%	$100	Learn More Add Review
First American Bank South Elgin Branch	0.15%	$25,000	Learn More Add Review
Hoyne Savings Bank 699 W Dundee Rd Branch	0.15%	$25,000	Learn More
NotURBusiness \| Jul 9, 2021 ABSOLUTELY RIDICULOUS how this place is still around in Wheeling. Taking any more than 3 days on a loan check is UNEXCUSEABLE. Having an 800 plus credit rating. A SENIOR. Wanting to move out ofa big hou... Read More Reviews (1)
Devon Bank Wheeling Branch	0.15%	$100	Learn More Add Review
Peoplefirst Bank Peoplefirst Bank Branch	0.15%	$25,000	Learn More Add Review
Brickyard Bank Brickyard Bank Branch	0.15%	$10,000	Learn More Add Review
Millennium Bank Millennium Bank Branch	0.15%	$2,500	Learn More Add Review
Beverly Bank & Trust Company, National Association Oak Lawn Bank And Trust Branch	0.15%	$10,000	Learn More Add Review
Community Savings Bank West Belmont Branch	0.15%	$25,000	Learn More Add Review
American Metro Bank American Metro Bank Branch	0.15%	$2,500	Learn More Add Review
Tbk Bank, Ssb Elgin Branch	0.10%	$25	Learn More
Rate History: 0.15% → 0.10%
fiddler \| Jun 30, 2019 agree....finally did get thru though Read More Reviews (2)
Allied First Bank,sb Allied First Bank,sb Branch	0.10%	$2,500	Learn More Add Review
Cibm Bank Avenue Bank Branch	0.10%	$10,000	Learn More
theee \| Dec 26, 2017 Good people to deal with. Competitive rates better than CEFCU. Easy in/out processing of CD's & MM. Read More Reviews (1)
The State Bank Of Geneva The State Bank Of Geneva Branch	0.10%	$10,000	Learn More Add Review
Forest Park National Bank And Trust Company Forest Park National Bank And Trust Branch	0.10%	$1	Learn More Add Review
Grand Ridge National Bank Grand Ridge National Bank Branch	0.10%	$1	Learn More Add Review
American Bank And Trust Company, National Association Geneva Branch	0.10%	$2,500	Learn More Add Review
Union National Bank And Trust Company Of Elgin Union National Bank And Trust Compan Branch	0.10%	$2,500	Learn More Add Review
Itasca Bank & Trust Co. Roselle Il Branch	0.10%	$2,500	Learn More Add Review
United Fidelity Bank, Fsb United Fidelity Bank, Fsb Branch	0.10%	$10,000	Learn More Add Review
Parkway Bank And Trust Company Carpentersville Branch	0.10%	$25,000	Learn More
Ed \| Jun 20, 2019 12 month rate not 2.5. Changed to 1.5%. Read More Reviews (1)
Hanmi Bank Naperville West Branch	0.10%	$2,500	Learn More Add Review
Republic Bank Of Chicago West Chicago Branch	0.10%	$25	Learn More Add Review
Hoyne Savings Bank 699 W Dundee Rd Branch	0.10%	$10,000	Learn More
NotURBusiness \| Jul 9, 2021 ABSOLUTELY RIDICULOUS how this place is still around in Wheeling. Taking any more than 3 days on a loan check is UNEXCUSEABLE. Having an 800 plus credit rating. A SENIOR. Wanting to move out ofa big hou... Read More Reviews (1)
Hometown National Bank Joliet Branch	0.10%	$2,500	Learn More Add Review
Northbrook Bank And Trust Company, National Association Buffalo Grove Branch	0.10%	$2,500	Learn More Add Review
First Federal Savings Bank Elgin Branch	0.10%	$25,000	Learn More Add Review
First Savings Bank Of Hegewisch Tinley Park Branch	0.10%	$25,000	Learn More Add Review
Peoplefirst Bank Peoplefirst Bank Branch	0.10%	$10,000	Learn More Add Review
Brickyard Bank Brickyard Bank Branch	0.10%	$2,500	Learn More Add Review
Beverly Bank & Trust Company, National Association Oak Lawn Bank And Trust Branch	0.10%	$2,500	Learn More Add Review
Community Savings Bank West Belmont Branch	0.10%	$2,500	Learn More Add Review
First Secure Bank And Trust Co. First Secure Bank And Trust Co. Branch	0.10%	$2,500	Learn More Add Review
First National Bank Of Brookfield First National Bank Of Brookfield Branch	0.10%	$2,500	Learn More Add Review
Cibm Bank Avenue Bank Branch	0.08%	$2,500	Learn More
theee \| Dec 26, 2017 Good people to deal with. Competitive rates better than CEFCU. Easy in/out processing of CD's & MM. Read More Reviews (1)
First Eagle Bank Hanover Park Branch	0.08%	$15,000	Learn More Add Review
Fnbc Bank & Trust South Elgin Branch	0.07%	$25,000	Learn More Add Review
Heritage Bank Of Schaumburg Heritage Bank Of Schaumburg Branch	0.07%	$25,000	Learn More Add Review
First National Bank Of Brookfield First National Bank Of Brookfield Branch	0.07%	$25,000	Learn More Add Review
The Huntington National Bank Auroa Branch	0.06%	$0	Learn More
Allan \| Mar 18, 2021 I called Huntington yesterday and the branch manager told me that the rate listed on Best Cash Cow doesn't exist......... Read More Reviews (1)
First Federal Savings Bank Elgin Branch	0.05%	$2,500	Learn More Add Review
Belmont Bank & Trust Company Belmont Bank & Trust Company Branch	0.05%	$2,500	Learn More Add Review
Fnbc Bank & Trust South Elgin Branch	0.05%	$2,500	Learn More Add Review
Northbrook Bank And Trust Company, National Association Buffalo Grove Branch	0.05%	$2,500	Learn More Add Review
Bankfinancial, National Association 1401 N Larkin Ave Branch	0.05%	$2,500	Learn More Add Review
Byline Bank 10 South Madison Branch	0.05%	$2,500	Learn More Add Review
The State Bank Of Geneva The State Bank Of Geneva Branch	0.05%	$2,500	Learn More Add Review
American Bank And Trust Company, National Association Geneva Branch	0.05%	$2,500	Learn More Add Review
Cathay Bank Chicago -westmont Branch	0.05%	$50,000	Learn More Add Review
Forest Park National Bank And Trust Company Forest Park National Bank And Trust Branch	0.05%	$1,000	Learn More Add Review
United Fidelity Bank, Fsb United Fidelity Bank, Fsb Branch	0.05%	$2,500	Learn More Add Review
Cornerstone National Bank & Trust Company Lake Zurich Branch	0.05%	$2,500	Learn More Add Review
First Merchants Bank Darien Branch	0.05%	$25,000	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
Central Federal Savings And Loan Association La Grange Park Branch	0.05%	$1,000	Learn More Add Review
First Eagle Bank Hanover Park Branch	0.05%	$100	Learn More Add Review
Parkway Bank And Trust Company Carpentersville Branch	0.05%	$2,500	Learn More
Ed \| Jun 20, 2019 12 month rate not 2.5. Changed to 1.5%. Read More Reviews (1)
Amalgamated Bank Of Chicago Warrenville Branch	0.05%	$1,500	Learn More Add Review
Hanmi Bank Naperville West Branch	0.05%	$2,500	Learn More Add Review
Community Bank Of Elmhurst Lexington Square Branch	0.05%	$2,500	Learn More Add Review
First American Bank South Elgin Branch	0.05%	$2,500	Learn More Add Review
Lakeside Bank Lakeview/Lincoln Park Branch	0.05%	$500	Learn More
grudge \| Aug 21, 2019 this bank does not honor rates they publish.. stay away Read More Reviews (2)
Itasca Bank & Trust Co. Roselle Il Branch	0.05%	$2,500	Learn More Add Review
Hoyne Savings Bank 699 W Dundee Rd Branch	0.05%	$2,500	Learn More
NotURBusiness \| Jul 9, 2021 ABSOLUTELY RIDICULOUS how this place is still around in Wheeling. Taking any more than 3 days on a loan check is UNEXCUSEABLE. Having an 800 plus credit rating. A SENIOR. Wanting to move out ofa big hou... Read More Reviews (1)
Tbk Bank, Ssb Elgin Branch	0.05% 0.01%	$35,000 $0	Learn More
Rate History: 1.00% → 0.10% → 0.05%
fiddler \| Jun 30, 2019 agree....finally did get thru though Read More Reviews (2)
Union National Bank And Trust Company Of Elgin Union National Bank And Trust Compan Branch	0.05%	$10,000	Learn More Add Review
First Savings Bank Of Hegewisch Tinley Park Branch	0.05%	$2,500	Learn More Add Review
Peoplefirst Bank Peoplefirst Bank Branch	0.05%	$2,500	Learn More Add Review
United Trust Bank United Trust Bank Branch	0.05%	$2,500	Learn More Add Review
Liberty Bank For Savings Park Ridge Office Branch	0.05%	$2,500	Learn More
Doug \| Aug 22, 2017 $100K min on new CD's. They will not bend. So had to take $170K to another bank, now @ 2.5%. Read More Reviews (1)
Community Savings Bank West Belmont Branch	0.05%	$2,500	Learn More Add Review
Heritage Bank Of Schaumburg Heritage Bank Of Schaumburg Branch	0.05%	$2,500	Learn More Add Review
First National Bank Of Brookfield First National Bank Of Brookfield Branch	0.05%	$10,000	Learn More Add Review
Cibm Bank Avenue Bank Branch	0.04%	$2,500	Learn More
theee \| Dec 26, 2017 Good people to deal with. Competitive rates better than CEFCU. Easy in/out processing of CD's & MM. Read More Reviews (1)
Marquette Bank Marquette Bank Branch	0.04%	$2,500	Learn More Add Review
Bank Of America, National Association Aurora - Indian Trail 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 Merchants Bank Darien Branch	0.03%	$10,000	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
Associated Bank, National Association Carpentersville Branch	0.03%	$25,000	Learn More Add Review
Hinsdale Bank & Trust Company, National Association Downers Grove Branch	0.03%	$10,000	Learn More Add Review
Midland States Bank Joliet Il Branch	0.03%	$25,000	Learn More
Mikki9678 \| Nov 3, 2021 If anyone is considering using Midland States Bank for estate or trust planning and administration, I’d urge you to be careful and do your due diligence. I’ll first say that I am a CPA with experience ... Read More Reviews (2)
St. Charles Bank & Trust Company, National Association Elgin Branch	0.03%	$10,000	Learn More Add Review
Cibc Bank Usa Saint Charles Branch	0.03%	$2,500	Learn More
me \| Oct 13, 2021 Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More Reviews (6)
Wheaton Bank & Trust, National Association Naperville Fort Hill Branch	0.03%	$10,000	Learn More Add Review
Schaumburg Bank & Trust Company, National Association Roselle Bank & Trust, A Branch Of Schaumburg Bank & Trust Company, N.A.	0.03%	$10,000	Learn More Add Review
Old Plank Trail Community Bank, National Association Plainfield Branch	0.03%	$10,000	Learn More Add Review
Wintrust Bank, National Association Mont Clare Branch	0.03%	$10,000	Learn More
business owner \| Feb 21, 2019 Please read this for all small business owners. Do NOT use wintrust for any small business loans. They drained me for over 2 months, and I constantly had to contact them to see what is up. We were told ... Read More Reviews (1)
Village Bank And Trust, National Association Luther Village Branch	0.03%	$10,000	Learn More Add Review
Belmont Bank & Trust Company Belmont Bank & Trust Company Branch	0.03%	$2,500	Learn More Add Review
First National Bank Of Brookfield First National Bank Of Brookfield Branch	0.03%	$2,500	Learn More Add Review
Associated Bank, National Association Carpentersville Branch	0.02%	$10,000	Learn More Add Review
Hinsdale Bank & Trust Company, National Association Downers Grove Branch	0.02%	$2,500	Learn More Add Review
Barrington Bank & Trust Company, National Association Hanover Park Branch	0.02%	$2,500	Learn More Add Review
St. Charles Bank & Trust Company, National Association Elgin Branch	0.02%	$2,500	Learn More Add Review
Old Second National Bank Orchard Branch	0.02%	$50,000	Learn More Add Review
Schaumburg Bank & Trust Company, National Association Roselle Bank & Trust, A Branch Of Schaumburg Bank & Trust Company, N.A.	0.02%	$2,500	Learn More Add Review
Wheaton Bank & Trust, National Association Naperville Fort Hill Branch	0.02%	$2,500	Learn More Add Review
Pnc Bank, National Association West Aurora Branch	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)
Old Plank Trail Community Bank, National Association Plainfield Branch	0.02%	$2,500	Learn More Add Review
First Savings Bank Of Hegewisch Tinley Park Branch	0.02%	$2,500	Learn More Add Review
The Lemont National Bank Lemont Branch	0.02%	$25,000	Learn More Add Review
Wintrust Bank, National Association Mont Clare Branch	0.02%	$2,500	Learn More
business owner \| Feb 21, 2019 Please read this for all small business owners. Do NOT use wintrust for any small business loans. They drained me for over 2 months, and I constantly had to contact them to see what is up. We were told ... Read More Reviews (1)
Village Bank And Trust, National Association Luther Village Branch	0.02%	$2,500	Learn More Add Review
Jpmorgan Chase Bank, National Association Oswego-Orchard Road Banking Center B Branch	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)
The Lemont National Bank Lemont Branch	0.02%	$2,500	Learn More Add Review
Pnc Bank, National Association West Aurora Branch	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)
Fifth Third Bank, National Association Montgomery Bc Branch	0.01%	$500	Learn More
Juan Ricardo \| Nov 12, 2018 Helpful w/$ Read More Reviews (5)
Bmo Bank National Association Harris Bk Aurora Na Branch	0.01%	$0	Learn More
Beenthere \| Jan 29, 2024 Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in oth... Read More Reviews (9)
Associated Bank, National Association Carpentersville Branch	0.01%	$2,500	Learn More Add Review
Midland States Bank Joliet Il Branch	0.01%	$2,500	Learn More
Mikki9678 \| Nov 3, 2021 If anyone is considering using Midland States Bank for estate or trust planning and administration, I’d urge you to be careful and do your due diligence. I’ll first say that I am a CPA with experience ... Read More Reviews (2)
First Merchants Bank Darien Branch	0.01%	$2,500	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
First American Bank South Elgin Branch	0.01%	$2,500	Learn More Add Review
The Lemont National Bank Lemont Branch	0.01%	$2,500	Learn More Add Review
Liberty Bank For Savings Park Ridge Office Branch	0.01%	$2,500	Learn More
Doug \| Aug 22, 2017 $100K min on new CD's. They will not bend. So had to take $170K to another bank, now @ 2.5%. Read More Reviews (1)

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 around Lombard, IL - June 15, 2025

Branch	Street	City	State
Republic Bank of Chicago West Chicago Branch	101 Main Street	West Chicago	IL
Citibank, National Association St Charles Branch	1925 Lincoln Highway	St. Charles	IL
Evergreen Bank Group Evergreen Bank Group Branch	1515 West 22nd Street, Suite 100w	Oak Brook	IL
Busey Bank Plainfield Br Branch	2801 Black Road	Joliet	IL
Byline Bank 10 South Madison Branch	10 South Madison Street	Oswego	IL
The Huntington National Bank Auroa Branch	2430 West Indian Trail Road	Aurora	IL
International Bank of Chicago Stone Park Branch	1860 North Mannheim Road	Stone Park	IL
Beal Bank USA Chicago Branch	3232 Lake Avenue, Suite 200	Wilmette	IL
International Bank of Chicago Stone Park Branch	1860 North Mannheim Road	Stone Park	IL
Beal Bank USA Chicago Branch	3232 Lake Avenue, Suite 200	Wilmette	IL
U.S. Bank National Association St. Charles Meijer Branch	855 South Randall Road	Saint Charles	IL
Busey Bank Plainfield Br Branch	2801 Black Road	Joliet	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
Bank of Hope Naperville Branch	1504 North Naper Boulevard, Ste. 136	Naperville	IL
BMO Bank National Association Harris Bk Aurora Na Branch	2412 Indian Trail Road	Aurora	IL
The Federal Savings Bank The Federal Savings Bank Branch	300 North Elizabeth Street, Floor 3e	Chicago	IL
International Bank of Chicago Stone Park Branch	1860 North Mannheim Road	Stone Park	IL
Heartland Bank and Trust Company Heartland Bank And Trust Company Branch	2402 West Main St.	Saint Charles	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
BMO Bank National Association Harris Bk Aurora Na Branch	2412 Indian Trail Road	Aurora	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
Heartland Bank and Trust Company Heartland Bank And Trust Company Branch	2402 West Main St.	Saint Charles	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
BMO Bank National Association Harris Bk Aurora Na Branch	2412 Indian Trail Road	Aurora	IL
Wells Fargo Bank, National Association Schaumburg Branch	210 South Roselle Road	Schaumburg	IL
International Bank of Chicago Stone Park Branch	1860 North Mannheim Road	Stone Park	IL
BMO Bank National Association Harris Bk Aurora Na Branch	2412 Indian Trail Road	Aurora	IL
Heartland Bank and Trust Company Heartland Bank And Trust Company Branch	2402 West Main St.	Saint Charles	IL
Evergreen Bank Group Evergreen Bank Group Branch	1515 West 22nd Street, Suite 100w	Oak Brook	IL
Millennium Bank Millennium Bank Branch	2077 Miner Street	Des Plaines	IL
Evergreen Bank Group Evergreen Bank Group Branch	1515 West 22nd Street, Suite 100w	Oak Brook	IL
American Metro Bank American Metro Bank Branch	4878 North Broadway	Chicago	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
CNB Bank and Trust, N.A. Palos Heights Branch	12727 South Ridgeland Avenue	Palos Heights	IL
PeopleFirst Bank Peoplefirst Bank Branch	3100 Theodore Street	Joliet	IL
BankFinancial, National Association 1401 N Larkin Ave Branch	1401 North Larkin Avenue	Joliet	IL
United Fidelity Bank, fsb United Fidelity Bank, Fsb Branch	1800 West 87th Street	Chicago	IL
Evergreen Bank Group Evergreen Bank Group Branch	1515 West 22nd Street, Suite 100w	Oak Brook	IL
American Metro Bank American Metro Bank Branch	4878 North Broadway	Chicago	IL
United Trust Bank United Trust Bank Branch	12330 South Harlem Avenue	Palos Heights	IL
First Secure Bank and Trust Co. First Secure Bank And Trust Co. Branch	10360 South Roberts Road	Palos Hills	IL
Woodforest National Bank 0165 Montgomery Walmart Branch	2000 Orchard Road	Montgomery	IL
SmartBiz Bank, National Association Centrust Bank, National Association Branch	385 Waukegan Road	Northbrook	IL
Cathay Bank Chicago -westmont Branch	665 Pasquinelli Drive #b104	Westmont	IL
Mutual Federal Bank Mutual Federal Bank Branch	2212 West Cermak Road	Chicago	IL
Devon Bank Wheeling Branch	561 North Milwaukee Avenue	Wheeling	IL
The Federal Savings Bank The Federal Savings Bank Branch	300 North Elizabeth Street, Floor 3e	Chicago	IL
U.S. Bank National Association St. Charles Meijer Branch	855 South Randall Road	Saint Charles	IL
Servbank,sb Allied First Bank,sb Branch	3201 Orchard Rd	Oswego	IL
CIBM Bank Avenue Bank Branch	330 S. Naperville Road	Wheaton	IL
Cathay Bank Chicago -westmont Branch	665 Pasquinelli Drive #b104	Westmont	IL
First State Bank North Aurora Office Branch	75 S. Randall Road	North Aurora	IL
SmartBiz Bank, National Association Centrust Bank, National Association Branch	385 Waukegan Road	Northbrook	IL
Sterling Bank Sterling Bank Branch	360 S. 1st Street	Saint Charles	IL
Amalgamated Bank of Chicago Warrenville Branch	28600 Bella Vista Parkway	Warrenville	IL
Pan American Bank & Trust Palatine Il Branch	One East Northwest Highway	Palatine	IL
Community Bank of Elmhurst Lexington Square Branch	400 W. Butterfield Rd.	Elmhurst	IL
Lisle Savings Bank 1700 Robin Lane Facility Branch	1700 Robin Lane	Lisle	IL
Devon Bank Wheeling Branch	561 North Milwaukee Avenue	Wheeling	IL
Old Second National Bank Orchard Branch	1230 N. Orchard Road	Aurora	IL
Brickyard Bank Brickyard Bank Branch	6676 North Lincoln Avenue	Lincolnwood	IL
First Secure Bank and Trust Co. First Secure Bank And Trust Co. Branch	10360 South Roberts Road	Palos Hills	IL
Citibank, National Association St Charles Branch	1925 Lincoln Highway	St. Charles	IL
Servbank,sb Allied First Bank,sb Branch	3201 Orchard Rd	Oswego	IL
First State Bank North Aurora Office Branch	75 S. Randall Road	North Aurora	IL
SmartBiz Bank, National Association Centrust Bank, National Association Branch	385 Waukegan Road	Northbrook	IL
BankFinancial, National Association 1401 N Larkin Ave Branch	1401 North Larkin Avenue	Joliet	IL
Northbrook Bank and Trust Company, National Association Buffalo Grove Branch	200 North Buffalo Grove Road	Buffalo Grove	IL
The State Bank of Geneva The State Bank Of Geneva Branch	22 South Fourth Street	Geneva	IL
Hometown National Bank Joliet Branch	722 Essington Road, Suite A	Joliet	IL
Forest Park National Bank and Trust Company Forest Park National Bank And Trust Branch	7348 West Madison Street	Forest Park	IL
United Fidelity Bank, fsb United Fidelity Bank, Fsb Branch	1800 West 87th Street	Chicago	IL
Community Bank of Elmhurst Lexington Square Branch	400 W. Butterfield Rd.	Elmhurst	IL
Grand Ridge National Bank Grand Ridge National Bank Branch	27w111 Geneva Road	Winfield	IL
First American Bank South Elgin Branch	632 Randall Road	South Elgin	IL
Hoyne Savings Bank 699 W Dundee Rd Branch	699 West Dundee Road	Wheeling	IL
Devon Bank Wheeling Branch	561 North Milwaukee Avenue	Wheeling	IL
PeopleFirst Bank Peoplefirst Bank Branch	3100 Theodore Street	Joliet	IL
Brickyard Bank Brickyard Bank Branch	6676 North Lincoln Avenue	Lincolnwood	IL
Millennium Bank Millennium Bank Branch	2077 Miner Street	Des Plaines	IL
Beverly Bank & Trust Company, National Association Oak Lawn Bank And Trust Branch	5300 W 95th Street	Oak Lawn	IL
Community Savings Bank West Belmont Branch	4824 West Belmont Avenue	Chicago	IL
American Metro Bank American Metro Bank Branch	4878 North Broadway	Chicago	IL
TBK BANK, SSB Elgin Branch	3151 Us Highway 20	Elgin	IL
Servbank,sb Allied First Bank,sb Branch	3201 Orchard Rd	Oswego	IL
CIBM Bank Avenue Bank Branch	330 S. Naperville Road	Wheaton	IL
The State Bank of Geneva The State Bank Of Geneva Branch	22 South Fourth Street	Geneva	IL
Forest Park National Bank and Trust Company Forest Park National Bank And Trust Branch	7348 West Madison Street	Forest Park	IL
Grand Ridge National Bank Grand Ridge National Bank Branch	27w111 Geneva Road	Winfield	IL
American Bank and Trust Company, National Association Geneva Branch	2401 Kaneville Road	Geneva	IL
Union National Bank and Trust Company of Elgin Union National Bank And Trust Compan Branch	101 East Chicago Street	Elgin	IL
Itasca Bank & Trust Co. Roselle Il Branch	One East Irving Park Road	Roselle	IL
Old Second National Bank Orchard Branch	1230 N. Orchard Road	Aurora	IL
United Fidelity Bank, fsb United Fidelity Bank, Fsb Branch	1800 West 87th Street	Chicago	IL
Parkway Bank and Trust Company Carpentersville Branch	2 North Western Avenue	Carpentersville	IL
Hanmi Bank Naperville West Branch	664 Raymond Drive	Naperville	IL
Republic Bank of Chicago West Chicago Branch	101 Main Street	West Chicago	IL
Hoyne Savings Bank 699 W Dundee Rd Branch	699 West Dundee Road	Wheeling	IL
Hometown National Bank Joliet Branch	722 Essington Road, Suite A	Joliet	IL
Northbrook Bank and Trust Company, National Association Buffalo Grove Branch	200 North Buffalo Grove Road	Buffalo Grove	IL
First Federal Savings Bank Elgin Branch	325 South Randall Road	Elgin	IL
First Savings Bank of Hegewisch Tinley Park Branch	17501 80th Avenue	Tinley Park	IL
PeopleFirst Bank Peoplefirst Bank Branch	3100 Theodore Street	Joliet	IL
Brickyard Bank Brickyard Bank Branch	6676 North Lincoln Avenue	Lincolnwood	IL
Beverly Bank & Trust Company, National Association Oak Lawn Bank And Trust Branch	5300 W 95th Street	Oak Lawn	IL
Community Savings Bank West Belmont Branch	4824 West Belmont Avenue	Chicago	IL
First Secure Bank and Trust Co. First Secure Bank And Trust Co. Branch	10360 South Roberts Road	Palos Hills	IL
First National Bank of Brookfield First National Bank Of Brookfield Branch	9136 Washington Avenue	Brookfield	IL
CIBM Bank Avenue Bank Branch	330 S. Naperville Road	Wheaton	IL
First Eagle Bank Hanover Park Branch	1040 East Lake Street	Hanover Park	IL
FNBC Bank & Trust South Elgin Branch	1140 West Spring Street	South Elgin	IL
Heritage Bank of Schaumburg Heritage Bank Of Schaumburg Branch	1535 Schaumburg Road	Schaumburg	IL
First National Bank of Brookfield First National Bank Of Brookfield Branch	9136 Washington Avenue	Brookfield	IL
The Huntington National Bank Auroa Branch	2430 West Indian Trail Road	Aurora	IL
First Federal Savings Bank Elgin Branch	325 South Randall Road	Elgin	IL
Belmont Bank & Trust Company Belmont Bank & Trust Company Branch	8250 West Belmont Avenue	Chicago	IL
FNBC Bank & Trust South Elgin Branch	1140 West Spring Street	South Elgin	IL
Northbrook Bank and Trust Company, National Association Buffalo Grove Branch	200 North Buffalo Grove Road	Buffalo Grove	IL
BankFinancial, National Association 1401 N Larkin Ave Branch	1401 North Larkin Avenue	Joliet	IL
Byline Bank 10 South Madison Branch	10 South Madison Street	Oswego	IL
The State Bank of Geneva The State Bank Of Geneva Branch	22 South Fourth Street	Geneva	IL
American Bank and Trust Company, National Association Geneva Branch	2401 Kaneville Road	Geneva	IL
Cathay Bank Chicago -westmont Branch	665 Pasquinelli Drive #b104	Westmont	IL
Forest Park National Bank and Trust Company Forest Park National Bank And Trust Branch	7348 West Madison Street	Forest Park	IL
United Fidelity Bank, fsb United Fidelity Bank, Fsb Branch	1800 West 87th Street	Chicago	IL
Cornerstone National Bank & Trust Company Lake Zurich Branch	585 Ela Rd	Lake Zurich	IL
First Merchants Bank Darien Branch	8301 South Cass Avenue	Darien	IL
Central Federal Savings and Loan Association La Grange Park Branch	1921 E 31st St.	La Grange Park	IL
First Eagle Bank Hanover Park Branch	1040 East Lake Street	Hanover Park	IL
Parkway Bank and Trust Company Carpentersville Branch	2 North Western Avenue	Carpentersville	IL
Amalgamated Bank of Chicago Warrenville Branch	28600 Bella Vista Parkway	Warrenville	IL
Hanmi Bank Naperville West Branch	664 Raymond Drive	Naperville	IL
Community Bank of Elmhurst Lexington Square Branch	400 W. Butterfield Rd.	Elmhurst	IL
First American Bank South Elgin Branch	632 Randall Road	South Elgin	IL
Lakeside Bank Lakeview/Lincoln Park Branch	2800 N Ashland Ave	Chicago	IL
Itasca Bank & Trust Co. Roselle Il Branch	One East Irving Park Road	Roselle	IL
Hoyne Savings Bank 699 W Dundee Rd Branch	699 West Dundee Road	Wheeling	IL
TBK BANK, SSB Elgin Branch	3151 Us Highway 20	Elgin	IL
Union National Bank and Trust Company of Elgin Union National Bank And Trust Compan Branch	101 East Chicago Street	Elgin	IL
First Savings Bank of Hegewisch Tinley Park Branch	17501 80th Avenue	Tinley Park	IL
PeopleFirst Bank Peoplefirst Bank Branch	3100 Theodore Street	Joliet	IL
United Trust Bank United Trust Bank Branch	12330 South Harlem Avenue	Palos Heights	IL
Liberty Bank for Savings Park Ridge Office Branch	1018 West Touhy Avenue	Park Ridge	IL
Community Savings Bank West Belmont Branch	4824 West Belmont Avenue	Chicago	IL
Heritage Bank of Schaumburg Heritage Bank Of Schaumburg Branch	1535 Schaumburg Road	Schaumburg	IL
First National Bank of Brookfield First National Bank Of Brookfield Branch	9136 Washington Avenue	Brookfield	IL
Busey Bank Plainfield Br Branch	2801 Black Road	Joliet	IL
U.S. Bank National Association St. Charles Meijer Branch	855 South Randall Road	Saint Charles	IL
CIBM Bank Avenue Bank Branch	330 S. Naperville Road	Wheaton	IL
Marquette Bank Marquette Bank Branch	2500 South Eola Road	Aurora	IL
Bank of America, National Association Aurora - Indian Trail Branch	2390 West Indian Trail	Aurora	IL
First Merchants Bank Darien Branch	8301 South Cass Avenue	Darien	IL
Associated Bank, National Association Carpentersville Branch	7675 Miller Road	Carpentersville	IL
Hinsdale Bank & Trust Company, National Association Downers Grove Branch	718 Ogden Ave	Downers Grove	IL
Midland States Bank Joliet Il Branch	1540 Route 59	Joliet	IL
St. Charles Bank & Trust Company, National Association Elgin Branch	1001 South Randall Road	Elgin	IL
CIBC Bank USA Saint Charles Branch	24 South Second Stereet	Saint Charles	IL
Wheaton Bank & Trust, National Association Naperville Fort Hill Branch	555 Fort Hill Drive	Naperville	IL
Schaumburg Bank & Trust Company, National Association Roselle Bank & Trust, A Branch Of Schaumburg Bank & Trust Company, N.A.	1350 West Lake Street	Roselle	IL
Old Plank Trail Community Bank, National Association Plainfield Branch	13600 S Route 59	Plainfield	IL
Wintrust Bank, National Association Mont Clare Branch	3050 North Harlem Avenue	Chicago	IL
Village Bank and Trust, National Association Luther Village Branch	1250 Village Drive	Arlington Heights	IL
Belmont Bank & Trust Company Belmont Bank & Trust Company Branch	8250 West Belmont Avenue	Chicago	IL
First National Bank of Brookfield First National Bank Of Brookfield Branch	9136 Washington Avenue	Brookfield	IL
Associated Bank, National Association Carpentersville Branch	7675 Miller Road	Carpentersville	IL
Hinsdale Bank & Trust Company, National Association Downers Grove Branch	718 Ogden Ave	Downers Grove	IL
Barrington Bank & Trust Company, National Association Hanover Park Branch	6800 Barrington Road	Hanover Park	IL
St. Charles Bank & Trust Company, National Association Elgin Branch	1001 South Randall Road	Elgin	IL
Old Second National Bank Orchard Branch	1230 N. Orchard Road	Aurora	IL
Schaumburg Bank & Trust Company, National Association Roselle Bank & Trust, A Branch Of Schaumburg Bank & Trust Company, N.A.	1350 West Lake Street	Roselle	IL
Wheaton Bank & Trust, National Association Naperville Fort Hill Branch	555 Fort Hill Drive	Naperville	IL
PNC Bank, National Association West Aurora Branch	1977 West Galena Boulevard	Aurora	IL
Old Plank Trail Community Bank, National Association Plainfield Branch	13600 S Route 59	Plainfield	IL
First Savings Bank of Hegewisch Tinley Park Branch	17501 80th Avenue	Tinley Park	IL
The Lemont National Bank Lemont Branch	310 Main Street	Lemont	IL
Wintrust Bank, National Association Mont Clare Branch	3050 North Harlem Avenue	Chicago	IL
Village Bank and Trust, National Association Luther Village Branch	1250 Village Drive	Arlington Heights	IL
JPMorgan Chase Bank, National Association Oswego-Orchard Road Banking Center B Branch	3419 Orchard Road	Oswego	IL
The Lemont National Bank Lemont Branch	310 Main Street	Lemont	IL
Wells Fargo Bank, National Association Schaumburg Branch	210 South Roselle Road	Schaumburg	IL
TBK BANK, SSB Elgin Branch	3151 Us Highway 20	Elgin	IL
PNC Bank, National Association West Aurora Branch	1977 West Galena Boulevard	Aurora	IL
Fifth Third Bank, National Association Montgomery Bc Branch	1991 Us Route 30	Montgomery	IL
BMO Bank National Association Harris Bk Aurora Na Branch	2412 Indian Trail Road	Aurora	IL
Associated Bank, National Association Carpentersville Branch	7675 Miller Road	Carpentersville	IL
Midland States Bank Joliet Il Branch	1540 Route 59	Joliet	IL
First Merchants Bank Darien Branch	8301 South Cass Avenue	Darien	IL
First American Bank South Elgin Branch	632 Randall Road	South Elgin	IL
The Lemont National Bank Lemont Branch	310 Main Street	Lemont	IL
Liberty Bank for Savings Park Ridge Office Branch	1018 West Touhy Avenue	Park Ridge	IL

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

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.