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Minnesota Savings Rates 2017

If you have your savings dollars in a bank with low savings rates, then you are losing real money. With the magic of compounding interest, even an interest rate difference under 1% can really add up over time. See our Savings Booster Calculator to see why you should seek out a higher interest rate. The table below has an unbiased list of the savings and money market account rates of FDIC-insured banks that are near your current location (if they aren’t, then change the zip code above). Take a few minutes to explore these options and see how you can boost your savings by more than 6X the national average rate. You may also want to check credit unions near you or online banks by navigating through the tabs above. There is competition for your money. Take advantage of it!

MN - January 19, 2017

Savings Account National Average Rate: 0.13% ?

BANKS APY Vs. Nat'l Av. MIN MILES ?
Eitzen State Bank 0.80% 6.40x $10,000 -
Beal Bank USA 0.61% 4.88x $25,000 -
First Western Bank & Trust 0.60% 4.80x $1,000 -
Foresight Bank 0.60% 4.80x $5,000 -
Foresight Bank 0.55% 4.40x $1 -
First Western Bank & Trust 0.50% 4.00x $1 -
Peoples State Bank of Plainview 0.50% 4.00x $7,500 -
VisionBank 0.50% 4.00x $25,000 -
The Wanda State Bank 0.50% 4.00x $1,000 -
Prime Security Bank 0.50% 4.00x $25,000 -
Eitzen State Bank 0.50% 4.00x $2,500 -
Ultima Bank Minnesota 0.45% 3.60x $25,000 -
Security State Bank of Aitkin 0.45% 3.60x $15,000 -
The Wanda State Bank 0.40% 3.20x $1 -
First Independent Bank 0.40% 3.20x $25,000 -
Bridgewater Bank 0.40% 3.20x $25,001 -
American State Bank of Grygla 0.40% 3.20x $10,000 -
First Financial Bank in Winnebago 0.40% 3.20x $25,000 -
Minnstar Bank National Association 0.40% 3.20x $1,000 -
Lakeview Bank 0.40% 3.20x $1 -
Ultima Bank Minnesota 0.40% 3.20x $25,000 -
Wadena State Bank 0.35% 2.80x $5,000 -
BankVista 0.35% 2.80x $10,000 -
Bank of Maple Plain 0.35% 2.80x $25,000 -
Ultima Bank Minnesota 0.35% 2.80x $10,000 -
First American Bank, N.A. 0.35% 2.80x $25,000 -
St. Clair State Bank (Incorporated) 0.35% 2.80x $20,001 -
Minnesota First Credit and Savings, Incorporated 0.35% 2.80x $2,500 -
State Bank of Hamburg 0.33% 2.64x $25,000 -
Hometown Community Bank 0.30% 2.40x $1 -
First National Bank 0.30% 2.40x $1,000 -
State Bank of Belle Plaine 0.30% 2.40x $25,000 -
Ultima Bank Minnesota 0.30% 2.40x $1 -
Riverland Bank 0.30% 2.40x $25,000 -
The First National Bank of Bemidji 0.30% 2.40x $25,000 -
Wadena State Bank 0.30% 2.40x $10,000 -
The First National Bank of Osakis 0.30% 2.40x $25,000 -
Charter Bank 0.30% 2.40x $10,000 -
Perennial Bank 0.30% 2.40x $25,000 -
Currie State Bank 0.30% 2.40x $25,000 -
Citizens State Bank Norwood Young America 0.30% 2.40x $10,000 -
First Financial Bank in Winnebago 0.30% 2.40x $2,500 -
Citizens State Bank of Hayfield 0.30% 2.40x $20,000 -
National Bank of Commerce 0.30% 2.40x $25,000 -
Cornerstone State Bank 0.30% 2.40x $25,000 -
The First National Bank in Wadena 0.30% 2.40x $15,000 -
Sentry Bank 0.30% 2.40x $25,000 -
Arlington State Bank 0.30% 2.40x $2,500 -
Lakeview Bank 0.30% 2.40x $25,000 -
First American Bank, N.A. 0.30% 2.40x $10,000 -
First Farmers & Merchants Bank 0.30% 2.40x $25,000 -
State Bank of Hamburg 0.26% 2.08x $10 -
Stearns Bank National Association 0.26% 2.08x $1 -
Stearns Bank Upsala National Association 0.26% 2.08x $1 -
Stearns Bank Holdingford National Association 0.26% 2.08x $50 -
Bank of Zumbrota 0.26% 2.08x $25,000 -
Beal Bank USA 0.25% 2.00x $500 -
First Southeast Bank 0.25% 2.00x $1,000 -
American Bank of the North 0.25% 2.00x $50 -
Hometown Community Bank 0.25% 2.00x $10,000 -
BankVista 0.25% 2.00x $200 -
Farmers State Bank of Hoffman 0.25% 2.00x $10,000 -
Pioneer Bank 0.25% 2.00x $1 -
Eitzen State Bank 0.25% 2.00x $1 -
State Bank of Belle Plaine 0.25% 2.00x $10,000 -
Riverland Bank 0.25% 2.00x $10,000 -
Woodlands National Bank 0.25% 2.00x $25,000 -
Wadena State Bank 0.25% 2.00x $1,000 -
The First National Bank of Milaca 0.25% 2.00x $50 -
Arlington State Bank 0.25% 2.00x $25 -
First Independent Bank 0.25% 2.00x $5,000 -
Currie State Bank 0.25% 2.00x $10,000 -
Security Bank USA 0.25% 2.00x $10,000 -
Bank of Maple Plain 0.25% 2.00x $10,000 -
The Lake Bank 0.25% 2.00x $1 -
Northern State Bank 0.25% 2.00x $10,000 -
The Pioneer National Bank of Duluth 0.25% 2.00x $25,000 -
State Bank of Richmond 0.25% 2.00x $25,000 -
The First National Bank in Wadena 0.25% 2.00x $1 -
State Bank of Easton 0.25% 2.00x $5 -
Bonanza Valley State Bank 0.25% 2.00x $25,000 -
The First National Bank at St. James 0.25% 2.00x $2,500 -
State Bank of Lake Park 0.25% 2.00x $25,000 -
State Bank of Wheaton 0.25% 2.00x $10,000 -
Pine Country Bank 0.25% 2.00x $25,000 -
Citizens State Bank Norwood Young America 0.25% 2.00x $2,500 -
Financial Security Bank 0.25% 2.00x $25,000 -
Equity Bank 0.25% 2.00x $25,001 -
Drake Bank 0.25% 2.00x $50 -
First National Bank of Moose Lake 0.25% 2.00x $25,000 -
Northview Bank 0.25% 2.00x $25,000 -
Vantage Bank 0.25% 2.00x $25,000 -
Lakeview Bank 0.25% 2.00x $5,000 -
Reliance Bank 0.25% 2.00x $15,000 -
Sherburne State Bank 0.25% 2.00x $25,000 -
Falcon National Bank 0.25% 2.00x $50 -
Viking Savings Bank 0.25% 2.00x $25,000 -
State Bank of New Richland 0.25% 2.00x $25,000 -
Produce State Bank 0.25% 2.00x $5,000 -
The First National Bank of Bemidji 0.25% 2.00x $10,000 -
Perennial Bank 0.25% 2.00x $1 -
Village Bank 0.25% 2.00x $1 -
Security State Bank of Kenyon 0.25% 2.00x $25,000 -
Rushford State Bank (Incorporated) 0.25% 2.00x $10,000 -
First State Bank of Sauk Centre 0.25% 2.00x $25,000 -
ProGrowth Bank 0.24% 1.92x $10,000 -
Prairie Sun Bank 0.24% 1.92x $20,000 -
First State Bank of Wabasha 0.22% 1.76x $25,000 -
Winona National Bank 0.21% 1.68x $25,000 -
Concorde Bank 0.21% 1.68x $25,000 -
First Farmers & Merchants National Bank 0.20% 1.60x $25,000 -
Olmsted National Bank 0.20% 1.60x $15,000 -
Farmers State Bank of West Concord 0.20% 1.60x $25,000 -
Randall State Bank 0.20% 1.60x $1 -
First Security Bank 0.20% 1.60x $1 -
Grand Rapids State Bank 0.20% 1.60x $25,000 -
BlackRidgeBANK 0.20% 1.60x $25,000 -
Northview Bank 0.20% 1.60x $10,000 -
Minnstar Bank National Association 0.20% 1.60x $100 -
Produce State Bank 0.20% 1.60x $2,500 -
Community Bank Owatonna 0.20% 1.60x $1 -
Pine Country Bank 0.20% 1.60x $1 -
Community Development Bank, FSB 0.20% 1.60x $25,000 -
State Bank of Belle Plaine 0.20% 1.60x $1,000 -
The First National Bank of Elk River 0.20% 1.60x $25,000 -
Glenwood State Bank (Incorporated) 0.20% 1.60x $5 -
Farmers State Bank of Watkins 0.20% 1.60x $1 -
Farmers State Bank of Hoffman 0.20% 1.60x $2,500 -
Riverland Bank 0.20% 1.60x $1,000 -
Woodlands National Bank 0.20% 1.60x $1 -
The Citizens National Bank of Park Rapids 0.20% 1.60x $25,000 -
Center National Bank 0.20% 1.60x $25,000 -
Citizens Alliance Bank 0.20% 1.60x $25,000 -
The First State Bank of Red Wing 0.20% 1.60x $5,000 -
Citizens State Bank Norwood Young America 0.20% 1.60x $1 -
The First National Bank of Osakis 0.20% 1.60x $10,000 -
American State Bank of Grygla 0.20% 1.60x $1,000 -
Sentry Bank 0.20% 1.60x $5,000 -
Perennial Bank 0.20% 1.60x $1 -
Alliance Bank 0.20% 1.60x $25,000 -
Currie State Bank 0.20% 1.60x $2,500 -
F & M Bank Minnesota 0.20% 1.60x $25,000 -
Security Bank USA 0.20% 1.60x $1,000 -
Kensington Bank 0.20% 1.60x $25,000 -
Security Bank & Trust Company 0.20% 1.60x $2,500 -
Farmers Trust and Savings Bank 0.20% 1.60x $25,000 -
VisionBank 0.20% 1.60x $25,000 -
Harvest Bank 0.20% 1.60x $5,000 -
Lowry State Bank 0.20% 1.60x $1 -
Security State Bank of Wanamingo 0.20% 1.60x $25,000 -
Home State Bank 0.20% 1.60x $25,000 -
Odin State Bank 0.20% 1.60x $25,001 -
First American Bank, N.A. 0.20% 1.60x $25,000 -
State Bank of Richmond 0.20% 1.60x $10,000 -
Hometown Community Bank 0.20% 1.60x $2,500 -
Plaza Park State Bank 0.20% 1.60x $25,000 -
State Bank of Easton 0.20% 1.60x $2,500 -
Bonanza Valley State Bank 0.20% 1.60x $1,000 -
Granite Falls Bank 0.20% 1.60x $25,000 -
Fidelity Bank 0.20% 1.60x $10,000 -
Northern State Bank of Thief River Falls 0.20% 1.60x $25,000 -
Lake Community Bank 0.20% 1.60x $25,000 -
State Bank of Lake Park 0.20% 1.60x $10,000 -
State Bank of Wheaton 0.20% 1.60x $2,500 -
The First National Bank of Bemidji 0.20% 1.60x $1,000 -
Flagship Bank Minnesota 0.20% 1.60x $10,000 -
American Heritage National Bank 0.20% 1.60x $1 -
Farmers & Merchants State Bank of New York Mills, Incorporated 0.20% 1.60x $1 -
Vergas State Bank 0.20% 1.60x $2,500 -
The First National Bank of Milaca 0.20% 1.60x $10,000 -
Granite Community Bank 0.20% 1.60x $10,000 -
Cornerstone State Bank 0.20% 1.60x $1 -
Farmers State Bank of Underwood 0.20% 1.60x $25,000 -
The First National Bank of Cokato 0.20% 1.60x $25,000 -
The First National Bank in Wadena 0.20% 1.60x $2,500 -
Avon State Bank 0.20% 1.60x $50 -
Lakeview Bank 0.20% 1.60x $1 -
First Farmers & Merchants State Bank 0.20% 1.60x $25,000 -
State Bank of New Prague 0.20% 1.60x $10,000 -
First State Bank of Le Center 0.20% 1.60x $10,000 -
United Minnesota Bank 0.20% 1.60x $25,001 -
Security Bank Minnesota 0.20% 1.60x $20,000 -
American National Bank of Minnesota 0.20% 1.60x $25,000 -
First State Bank of Sauk Centre 0.20% 1.60x $2,500 -
Financial Security Bank 0.20% 1.60x $5,000 -
Equity Bank 0.20% 1.60x $10,001 -
Mid-Central Federal Savings Bank 0.20% 1.60x $25,000 -
Welcome State Bank 0.20% 1.60x $25,000 -
Venture Bank 0.20% 1.60x $25,000 -
Brainerd Savings and Loan Association, A Federal Association 0.20% 1.60x $25,000 -
Sherburne State Bank 0.20% 1.60x $1,000 -
Viking Savings Bank 0.20% 1.60x $10,000 -
Grand Timber Bank 0.20% 1.60x $25,000 -
Stearns Bank National Association 0.20% 1.60x $25,000 -
Beal Bank USA 0.20% 1.60x $1,000 -
Border State Bank 0.20% 1.60x $1 -
Castle Rock Bank 0.20% 1.60x $10,000 -
State Bank of Cold Spring 0.20% 1.60x $2,500 -
Farmers & Merchants Savings Bank 0.20% 1.60x $10 -
Stearns Bank Upsala National Association 0.20% 1.60x $25,000 -
Stearns Bank Holdingford National Association 0.20% 1.60x $25,000 -
Vantage Bank 0.20% 1.60x $1 -
Prime Security Bank 0.20% 1.60x $25,000 -
St. Clair State Bank (Incorporated) 0.20% 1.60x $50 -
Choice Financial Group 0.20% 1.60x $25,000 -
First State Bank of Grove City 0.20% 1.60x $25,000 -
First Farmers & Merchants Bank 0.20% 1.60x $10,000 -
Bank Midwest 0.20% 1.60x $100 -
ProGrowth Bank 0.19% 1.52x $10,000 -
State Bank of Hamburg 0.19% 1.52x $10,000 -
Bank of Zumbrota 0.19% 1.52x $2,500 -
First State Bank of Wabasha 0.18% 1.44x $10,000 -
Coulee Bank 0.18% 1.44x $25,000 -
Winona National Bank 0.17% 1.36x $10,000 -
Minnesota National Bank 0.17% 1.36x $25,000 -
Merchants Bank, National Association 0.17% 1.36x $25,000 -
Bremer Bank, National Association 0.16% 1.28x $10,000 -
The First National Bank of Coleraine 0.16% 1.28x $2,500 -
First Security Bank - Sleepy Eye 0.15% 1.20x $25,000 -
Kensington Bank 0.15% 1.20x $2,500 -
State Bank of Cold Spring 0.15% 1.20x $1 -
First Security Bank 0.15% 1.20x $25,000 -
Currie State Bank 0.15% 1.20x $1 -
First National Bank in Mahnomen 0.15% 1.20x $25,000 -
BlackRidgeBANK 0.15% 1.20x $1,000 -
Lake Community Bank 0.15% 1.20x $10,000 -
BMO Harris Bank National Association 0.15% 1.20x $25,000 -
The First National Bank of Le Center 0.15% 1.20x $2,500 -
Farmers State Bank of Hoffman 0.15% 1.20x $1 -
First Independent Bank 0.15% 1.20x $1 -
First State Bank of Swanville 0.15% 1.20x $2,500 -
Farmers Trust and Savings Bank 0.15% 1.20x $10,000 -
Viking Savings Bank 0.15% 1.20x $1 -
The Citizens National Bank of Park Rapids 0.15% 1.20x $1,000 -
State Bank of Chandler 0.15% 1.20x $800 -
First National Bank 0.15% 1.20x $50 -
The First National Bank of Bagley 0.15% 1.20x $10,000 -
United Valley Bank 0.15% 1.20x $1,000 -
Adrian State Bank 0.15% 1.20x $25,000 -
Odin State Bank 0.15% 1.20x $10 -
Red River State Bank 0.15% 1.20x $1,000 -
Citizens State Bank of Glenville 0.15% 1.20x $10 -
Exchange State Bank 0.15% 1.20x $25,000 -
Community Pride Bank 0.15% 1.20x $20,000 -
Olmsted National Bank 0.15% 1.20x $1 -
Farmers State Bank of Watkins 0.15% 1.20x $1 -
Farmers State Bank of Trimont 0.15% 1.20x $1 -
The First National Bank of Elk River 0.15% 1.20x $5,000 -
First Community Bank 0.15% 1.20x $10,000 -
Choice Financial Group 0.15% 1.20x $10,000 -
VisionBank 0.15% 1.20x $10,000 -
Farmers State Bank of Underwood 0.15% 1.20x $1 -
Granite Community Bank 0.15% 1.20x $2,500 -
Sentry Bank 0.15% 1.20x $100 -
United Minnesota Bank 0.15% 1.20x $10 -
First State Bank of Clearbrook 0.15% 1.20x $1,000 -
Bridgewater Bank 0.15% 1.20x $10,001 -
American State Bank of Grygla 0.15% 1.20x $1 -
Community Development Bank, FSB 0.15% 1.20x $10,000 -
The First National Bank of Moose Lake 0.15% 1.20x $10,000 -
First State Bank of Wabasha 0.15% 1.20x $50 -
Bank of Maple Plain 0.15% 1.20x $2,500 -
First State Bank Southwest 0.15% 1.20x $25,000 -
Farmers and Merchants State Bank of Springfield 0.15% 1.20x $10,000 -
Farmers and Merchants State Bank of Alpha 0.15% 1.20x $10 -
Northern State Bank of Thief River Falls 0.15% 1.20x $10,000 -
Dacotah Bank 0.15% 1.20x $10,000 -
First Financial Bank in Winnebago 0.15% 1.20x $100 -
MidWestOne Bank 0.15% 1.20x $25,000 -
State Bank of Taunton 0.15% 1.20x $1 -
First Minnesota Bank 0.15% 1.20x $25,000 -
Venture Bank 0.15% 1.20x $10,000 -
Farmers State Bank of West Concord 0.15% 1.20x $10,000 -
United Community Bank 0.15% 1.20x $25,001 -
Farmers and Merchants State Bank of Appleton 0.15% 1.20x $2,500 -
Security Bank & Trust Company 0.15% 1.20x $25,000 -
The First National Bank of Coleraine 0.15% 1.20x $1 -
First State Bank of Grove City 0.15% 1.20x $100 -
First State Bank of Ashby 0.15% 1.20x $10 -
First Bank Blue Earth 0.15% 1.20x $500 -
Foresight Bank 0.15% 1.20x $1 -
Bonanza Valley State Bank 0.15% 1.20x $100 -
State Bank of Richmond 0.15% 1.20x $1,000 -
Pine Country Bank 0.15% 1.20x $200 -
Grand Rapids State Bank 0.15% 1.20x $2,500 -
Northern State Bank 0.15% 1.20x $1,500 -
BANKWEST 0.15% 1.20x $2,000 -
Neighborhood National Bank 0.15% 1.20x $25,001 -
Mid-Central Federal Savings Bank 0.15% 1.20x $10,000 -
The First National Bank in Wadena 0.15% 1.20x $1,000 -
Security State Bank 0.15% 1.20x $2,500 -
First State Bank and Trust 0.15% 1.20x $25,000 -
Lakeview Bank 0.15% 1.20x $1 -
Alliance Bank 0.15% 1.20x $10,000 -
The First National Bank at St. James 0.15% 1.20x $200 -
First State Bank of Le Center 0.15% 1.20x $25,000 -
State Bank of Lake Park 0.15% 1.20x $1,000 -
State Bank of Lismore 0.15% 1.20x $25,000 -
Prime Security Bank 0.15% 1.20x $5,000 -
Financial Security Bank 0.15% 1.20x $1,000 -
The First State Bank of Red Wing 0.15% 1.20x $1 -
First Farmers & Merchants National Bank 0.15% 1.20x $10,000 -
Grand Timber Bank 0.15% 1.20x $2,500 -
Integrity Bank Plus 0.15% 1.20x $200 -
New Market Bank 0.15% 1.20x $25,000 -
First Security Bank - Canby. 0.15% 1.20x $25,000 -
First American Bank, N.A. 0.15% 1.20x $10,000 -
HomeTown Bank 0.15% 1.20x $10,000 -
Cornerstone State Bank 0.15% 1.20x $1 -
Lake City Federal Bank 0.15% 1.20x $25,000 -
Avon State Bank 0.15% 1.20x $1,000 -
The Pioneer National Bank of Duluth 0.15% 1.20x $10,000 -
Reliance Bank 0.15% 1.20x $5,000 -
Farmers & Merchants State Bank of New York Mills, Incorporated 0.15% 1.20x $1 -
Eagle Bank 0.15% 1.20x $10,000 -
Welcome State Bank 0.15% 1.20x $50 -
Profinium, Inc. 0.15% 1.20x $2,500 -
State Bank of New Prague 0.15% 1.20x $25,000 -
Citizens State Bank of Roseau 0.15% 1.20x $2,500 -
Center National Bank 0.15% 1.20x $10,000 -
Security Bank Minnesota 0.15% 1.20x $1 -
Peoples State Bank of Plainview 0.15% 1.20x $10,000 -
North Shore Bank of Commerce 0.15% 1.20x $25,000 -
Granite Falls Bank 0.15% 1.20x $1,000 -
Riverland Bank 0.15% 1.20x $250 -
Brainerd Savings and Loan Association, A Federal Association 0.15% 1.20x $10,000 -
KodaBank 0.15% 1.20x $2,500 -
The First National Bank of Bemidji 0.15% 1.20x $200 -
Think Mutual Bank 0.15% 1.20x $20,000 -
Highland Bank 0.15% 1.20x $25,000 -
American National Bank of Minnesota 0.15% 1.20x $10,000 -
Prairie Sun Bank 0.15% 1.20x $2,500 -
First State Bank of Wyoming 0.15% 1.20x $25,000 -
Equity Bank 0.15% 1.20x $2,501 -
Farmers State Bank of Hamel 0.15% 1.20x $1 -
Security State Bank of Kenyon 0.15% 1.20x $10,000 -
Plaza Park State Bank 0.15% 1.20x $10,000 -
MidCountry Bank 0.15% 1.20x $25,000 -
Peoples Bank Midwest 0.15% 1.20x $10,000 -
Sherburne State Bank 0.15% 1.20x $100 -
First Citizens Bank 0.15% 1.20x $25,000 -
State Bank of Fairmont 0.15% 1.20x $100 -
Unity Bank 0.15% 1.20x $25,000 -
F & M Bank Minnesota 0.15% 1.20x $1,000 -
Rushford State Bank (Incorporated) 0.15% 1.20x $1,000 -
First National Bank North 0.15% 1.20x $25,000 -
Manufacturers Bank & Trust Company 0.15% 1.20x $25,000 -
First State Bank of Sauk Centre 0.15% 1.20x $10 -
Merchants Bank, National Association 0.14% 1.12x $25,000 -
Prairie Sun Bank 0.14% 1.12x $1,000 -
First State Bank of Fountain 0.13% 1.04x $25,000 -
Concorde Bank 0.13% 1.04x $10,000 -
Merchants Bank, National Association 0.13% 1.04x $25,000 -
Root River State Bank 0.13% 1.04x $25,000 -
Winona National Bank 0.13% 1.04x $1,000 -
Citizens Bank & Trust Co. 0.13% 1.00x $100 -
Farmers Trust and Savings Bank 0.12% 0.96x $2,000 -
Merchants Bank, National Association 0.12% 0.96x $1 -
First American Bank, N.A. 0.12% 0.96x $200 -
Farmers and Merchants State Bank of Springfield 0.12% 0.96x $2,500 -
Valley Premier Bank 0.12% 0.96x $25,000 -
Granite Community Bank 0.12% 0.96x $200 -
Farmers State Bank of West Concord 0.12% 0.96x $2,500 -
Great Southern Bank 0.12% 0.96x $25,000 -
Americana Community Bank 0.12% 0.96x $50 -
Bank of Zumbrota 0.12% 0.96x $1 -
First State Bank Minnesota 0.11% 0.88x $1,000 -
State Bank of Hamburg 0.11% 0.88x $2,500 -
Americana Community Bank 0.11% 0.88x $25,000 -
Merchants Bank, National Association 0.11% 0.88x $5,000 -
Grand Timber Bank 0.11% 0.88x $50 -
The Bank of Elk River 0.11% 0.88x $25,000 -
First Farmers & Merchants National Bank 0.10% 0.80x $2,500 -
Farmers State Bank of West Concord 0.10% 0.80x $1 -
First Security Bank 0.10% 0.80x $100 -
The First State Bank of Rosemount 0.10% 0.80x $2,500 -
CorTrust Bank National Association 0.10% 0.80x $1 -
State Bank of Lake Park 0.10% 0.80x $50 -
Home Federal Savings Bank 0.10% 0.80x $25,000 -
First Southeast Bank 0.10% 0.80x $50 -
North American Banking Company 0.10% 0.80x $2,500 -
The Nicollet County Bank of Saint Peter 0.10% 0.80x $2,500 -
Think Mutual Bank 0.10% 0.80x $2,500 -
Fidelity Bank 0.10% 0.80x $1 -
Merchants Bank, National Association 0.10% 0.80x $1 -
Brainerd Savings and Loan Association, A Federal Association 0.10% 0.80x $2,500 -
First Bank & Trust 0.10% 0.80x $1 -
Cambridge State Bank 0.10% 0.80x $10,000 -
Associated Bank, National Association 0.10% 0.80x $10,000 -
Security State Bank of Wanamingo 0.10% 0.80x $50 -
Farmers and Merchants State Bank of Springfield 0.10% 0.80x $200 -
MidCountry Bank 0.10% 0.80x $1 -
Peoples State Bank of Plainview 0.10% 0.80x $1 -
Unity Bank North 0.10% 0.80x $1 -
First State Bank of Swanville 0.10% 0.80x $50 -
Janesville State Bank 0.10% 0.80x $1 -
Annandale State Bank 0.10% 0.80x $25,000 -
Crookston National Bank 0.10% 0.80x $1 -
The First National Bank of Milaca 0.10% 0.80x $1 -
State Bank of Chandler 0.10% 0.80x $1 -
The Northern State Bank of Gonvick 0.10% 0.80x $1 -
The First National Bank of Bagley 0.10% 0.80x $1 -
State Bank of Belle Plaine 0.10% 0.80x $1 -
Community Bank Owatonna 0.10% 0.80x $1 -
First International Bank & Trust 0.10% 0.80x $25,000 -
Midwest Bank 0.10% 0.80x $1 -
Bridgewater Bank 0.10% 0.80x $50 -
Citizens Community Federal National Association 0.10% 0.80x $1,000 -
First National Bank in Mahnomen 0.10% 0.80x $50 -
Valley Premier Bank 0.10% 0.80x $10,000 -
Red River State Bank 0.10% 0.80x $1 -
The Gary State Bank 0.10% 0.80x $10 -
Bell State Bank & Trust 0.10% 0.80x $500 -
First Minnesota Bank 0.10% 0.80x $10,000 -
Premier Bank 0.10% 0.80x $1,500 -
Community Pride Bank 0.10% 0.80x $5,000 -
State Bank of New Richland 0.10% 0.80x $1 -
Farmers & Merchants Savings Bank 0.10% 0.80x $1 -
Northeast Bank 0.10% 0.80x $10,000 -
The First National Bank of Elk River 0.10% 0.80x $1,000 -
Peoples Bank of Commerce 0.10% 0.80x $25,000 -
Northwoods Bank of Minnesota 0.10% 0.80x $25,000 -
First Community Bank 0.10% 0.80x $2,500 -
BANKWEST 0.10% 0.80x $1 -
First State Bank of Grove City 0.10% 0.80x $2,500 -
Woodlands National Bank 0.10% 0.80x $2,500 -
Lake Region Bank 0.10% 0.80x $25,000 -
Neighborhood National Bank 0.10% 0.80x $50 -
Security State Bank of Aitkin 0.10% 0.80x $10,000 -
American National Bank 0.10% 0.80x $25,000 -
The Citizens National Bank of Park Rapids 0.10% 0.80x $10 -
Security State Bank of Fergus Falls 0.10% 0.80x $10,000 -
Elysian Bank 0.10% 0.80x $2,500 -
Coulee Bank 0.10% 0.80x $200 -
Center National Bank 0.10% 0.80x $2,500 -
Community Development Bank, FSB 0.10% 0.80x $2,500 -
Citizens Alliance Bank 0.10% 0.80x $50 -
Venture Bank 0.10% 0.80x $1,000 -
Home State Bank 0.10% 0.80x $2,500 -
Farmers and Merchants State Bank of Blooming Prairie 0.10% 0.80x $1 -
United Farmers State Bank 0.10% 0.80x $1 -
First State Bank of Kiester 0.10% 0.80x $50 -
First State Bank of Wyoming 0.10% 0.80x $2,500 -
The First National Bank of Osakis 0.10% 0.80x $1 -
Peoples State Bank of Wells 0.10% 0.80x $1,000 -
Bank of Maple Plain 0.10% 0.80x $1 -
New Market Bank 0.10% 0.80x $10,000 -
First Citizens Bank 0.10% 0.80x $1 -
First State Bank of Fountain 0.10% 0.80x $10,000 -
United Community Bank 0.10% 0.80x $1 -
State Bank of Wheaton 0.10% 0.80x $1 -
Kensington Bank 0.10% 0.80x $5 -
Woodland Bank 0.10% 0.80x $1 -
Citizens Bank & Trust Co. 0.10% 0.80x $100 -
The First National Bank of Northfield 0.10% 0.80x $10,000 -
Root River State Bank 0.10% 0.80x $10,000 -
The First National Bank of Moose Lake 0.10% 0.80x $1 -
First Bank Blue Earth 0.10% 0.80x $100 -
Farmers and Merchants State Bank of Appleton 0.10% 0.80x $1 -
Northern State Bank 0.10% 0.80x $50 -
Security Bank & Trust Company 0.10% 0.80x $2,500 -
Security State Bank of Kenyon 0.10% 0.80x $1 -
RiverWood Bank 0.10% 0.80x $10,000 -
Harvest Bank 0.10% 0.80x $50 -
First State Bank Southwest 0.10% 0.80x $1,000 -
Northview Bank 0.10% 0.80x $1 -
Security State Bank of Marine 0.10% 0.80x $20,000 -
Citizens State Bank of Waverly, Inc. 0.10% 0.80x $25,000 -
KodaBank 0.10% 0.80x $1 -
First National Bank North 0.10% 0.80x $1 -
Franklin State Bank 0.10% 0.80x $2,500 -
Plaza Park State Bank 0.10% 0.80x $50 -
Marshall County State Bank 0.10% 0.80x $1 -
Citizens State Bank of Hayfield 0.10% 0.80x $1 -
Maple Bank 0.10% 0.80x $10,000 -
Castle Rock Bank 0.10% 0.80x $50 -
Flagship Bank Minnesota 0.10% 0.80x $50 -
The First National Bank of Cokato 0.10% 0.80x $10,000 -
American Federal Bank 0.10% 0.80x $25,000 -
Northern State Bank of Thief River Falls 0.10% 0.80x $1 -
Lake Community Bank 0.10% 0.80x $200 -
Integrity Bank Plus 0.10% 0.80x $25,001 -
Community Bank Mankato 0.10% 0.80x $1 -
First State Bank of Le Center 0.10% 0.80x $10,000 -
Alliance Bank 0.10% 0.80x $1,000 -
Republic Bank, Inc. 0.10% 0.80x $2,500 -
Farmers and Merchants State Bank of Pierz 0.10% 0.80x $25,000 -
Northern State Bank of Virginia 0.10% 0.80x $1,000 -
Rushford State Bank (Incorporated) 0.10% 0.80x $1 -
North Star Bank 0.10% 0.80x $25,000 -
State Bank of Lismore 0.10% 0.80x $1 -
State Bank of New Prague 0.10% 0.80x $1 -
Grand Rapids State Bank 0.10% 0.80x $100 -
First Resource Bank 0.10% 0.80x $10,000 -
North American State Bank 0.10% 0.80x $25,000 -
Vergas State Bank 0.10% 0.80x $1 -
HomeTown Bank 0.10% 0.80x $10,000 -
Security State Bank of Lewiston 0.10% 0.80x $25,000 -
First National Bank 0.10% 0.80x $25,000 -
MidWestOne Bank 0.10% 0.80x $1 -
Border State Bank 0.10% 0.80x $1 -
The First National Bank of Gilbert 0.10% 0.80x $100 -
Highland Bank 0.10% 0.80x $1,000 -
Eagle Bank 0.10% 0.80x $10 -
Citizens Bank Minnesota 0.10% 0.80x $100 -
VisionBank 0.10% 0.80x $100 -
Winona National Bank 0.10% 0.80x $1 -
Lake City Federal Bank 0.10% 0.80x $10,000 -
American Heritage National Bank 0.10% 0.80x $5,000 -
The Pioneer National Bank of Duluth 0.10% 0.80x $2,500 -
Reliance Bank 0.10% 0.80x $1,000 -
Adrian State Bank 0.10% 0.80x $50 -
Exchange State Bank 0.10% 0.80x $2,500 -
First Farmers & Merchants National Bank 0.10% 0.80x $2,500 -
First Farmers & Merchants State Bank 0.10% 0.80x $10,000 -
First Security Bank - Canby. 0.10% 0.80x $10,000 -
United Minnesota Bank 0.10% 0.80x $1 -
Financial Security Bank 0.10% 0.80x $100 -
Stearns Bank Upsala National Association 0.10% 0.80x $1,000 -
Mid-Central Federal Savings Bank 0.10% 0.80x $10 -
BlackRidgeBANK 0.10% 0.80x $1,000 -
Sterling State Bank 0.10% 0.80x $25,000 -
Choice Financial Group 0.10% 0.80x $1,000 -
Frandsen Bank & Trust 0.10% 0.80x $25,000 -
Equity Bank 0.10% 0.80x $1 -
Village Bank 0.10% 0.80x $5,000 -
Olmsted National Bank 0.10% 0.80x $1 -
Manufacturers Bank & Trust Company 0.10% 0.80x $10,000 -
American National Bank of Minnesota 0.10% 0.80x $1 -
ProGrowth Bank 0.10% 0.80x $2,500 -
Security Bank USA 0.10% 0.80x $100 -
Security State Bank 0.10% 0.80x $50 -
First Farmers & Merchants Bank 0.10% 0.80x $2,500 -
Stearns Bank National Association 0.10% 0.80x $1,000 -
Stearns Bank Holdingford National Association 0.10% 0.80x $1 -
Park State Bank 0.10% 0.80x $25,000 -
Great Southern Bank 0.10% 0.80x $100 -
Minnesota National Bank 0.10% 0.80x $25,000 -
Star Bank 0.10% 0.80x $10,000 -
The First National Bank of Le Center 0.10% 0.80x $10 -
United Prairie Bank 0.09% 0.72x $25,000 -
Concorde Bank 0.09% 0.72x $100 -
F & M Bank Minnesota 0.09% 0.72x $1 -
Granite Falls Bank 0.09% 0.72x $1 -
Bremer Bank, National Association 0.09% 0.72x $5,000 -
Dacotah Bank 0.08% 0.64x $25,000 -
Community Resource Bank 0.08% 0.64x $10,000 -
American National Bank 0.08% 0.64x $10,000 -
New Market Bank 0.08% 0.64x $1,000 -
Peoples Bank Midwest 0.08% 0.64x $2,500 -
The Bank of Elk River 0.08% 0.64x $1 -
Lake Elmo Bank 0.08% 0.64x $25,000 -
Heritage Bank National Association 0.08% 0.64x $1 -
Security State Bank of Marine 0.08% 0.64x $2,500 -
Star Bank 0.08% 0.64x $200 -
Alerus Financial, National Association 0.08% 0.64x $25,000 -
Great Southern Bank 0.07% 0.56x $10,000 -
Americana Community Bank 0.07% 0.56x $1,000 -
Wells Federal Bank 0.07% 0.56x $1 -
First National Bank Minnesota 0.07% 0.56x $10,000 -
KleinBank 0.07% 0.56x $25,000 -
Security State Bank of Lewiston 0.07% 0.56x $10,000 -
Bank Mutual 0.07% 0.56x $25,000 -
First State Bank of Fountain 0.07% 0.56x $2,500 -
United Prairie Bank 0.07% 0.56x $10,000 -
North Star Bank 0.07% 0.56x $2,500 -
Anchor Bank, National Association 0.07% 0.56x $10,000 -
The First National Bank of Fairfax 0.07% 0.56x $5,000 -
Root River State Bank 0.07% 0.56x $2,500 -
Security State Bank of Fergus Falls 0.07% 0.56x $25,000 -
Lake Region Bank 0.07% 0.56x $10,000 -
State Bank of Danvers 0.07% 0.56x $25,000 -
Western National Bank 0.07% 0.56x $10,000 -
MidCountry Bank 0.07% 0.56x $1 -
The First National Bank of Northfield 0.07% 0.56x $2,500 -
First Farmers & Merchants State Bank 0.07% 0.56x $2,500 -
Eagle Community Bank 0.07% 0.56x $25,000 -
Lake Elmo Bank 0.07% 0.56x $10,000 -
Lake Country Community Bank 0.07% 0.56x $25,000 -
American National Bank 0.07% 0.56x $10,000 -
Bremer Bank, National Association 0.07% 0.56x $1,000 -
Charter Bank 0.06% 0.48x $25,000 -
Bank of the West 0.06% 0.48x $25,000 -
State Bank of Danvers 0.06% 0.48x $25,000 -
Frandsen Bank & Trust 0.06% 0.48x $25,000 -
HomeTown Bank 0.06% 0.48x $1,000 -
Alerus Financial, National Association 0.06% 0.48x $1,000 -
U.S. Bank National Association 0.06% 0.48x $10,000 -
Western National Bank 0.06% 0.48x $1 -
First State Bank Minnesota 0.05% 0.40x $1 -
First Farmers & Merchants National Bank 0.05% 0.40x $2,500 -
First Security Bank - Sleepy Eye 0.05% 0.40x $1 -
The First National Bank of Osakis 0.05% 0.40x $2,500 -
First Minnesota Bank 0.05% 0.40x $10,000 -
North American State Bank 0.05% 0.40x $2,500 -
The First State Bank of Rosemount 0.05% 0.40x $10 -
Prime Security Bank 0.05% 0.40x $1 -
Home Federal Savings Bank 0.05% 0.40x $1 -
Farmers and Merchants State Bank of Sacred Heart 0.05% 0.40x $1 -
Western National Bank 0.05% 0.40x $1 -


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

PRODUCT INFORMATION


Local Savings Accounts 2017

Savings accounts offer depositors flexibility along with the stability of FDIC insurance (assuming your deposit amounts are within FDIC limits – see below). Savings accounts are a good place to keep money for unforeseen expenses, as well as money that you may be preparing to use and want to keep safe. Individuals often use savings accounts for a home down payment, a vacation, a wedding, a car, an emergency fund, or other near-term expenditures. However, if you have cash that you do not believe you will need for at least a year, you may want to consider investing in a certificate of deposit.

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

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

FDIC Insurance

BestCashCow strongly recommends that when depositing money, you stay within the insured limits of the Federal Deposit Insurance Corporation (“FDIC”). You should not deposit over $250,000 at a single bank across all products (savings or share certificates, certificates of deposit or time deposits, etc.) unless these deposits are made across different product types (individual, joint, etc). Learn more about FDIC insurance and different product types here. If you are still uncertain whether you are within FDIC limits, you should visit the FDIC's website to determine your coverage limits based on your circumstances.

Advantages of Local Savings or Money Market Accounts:

  • Higher interest rate than a checking account, usually.
  • Personal service and interaction. Unlike an online account you are building a relationship with your banker by opening it in a branch.
  • Online access. Often, depending on the size of the bank, banks enable transactions and deposits to be performed online or through a mobile application.
  • Liquidity. Depositors can withdraw their money at any time.

Disadvantages:

  • A variable interest rate. Rates can change at any time. In a falling rate environment, this is a negative. In a rising rate environment, this is a positive.
  • A lower rate than an online bank. Branches are expensive and non-online banks often can't afford to pay as much interest as an online bank.

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 Booster 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 and be sure it is appropriate. 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.

SAVINGS & CD BOOSTER CALCULATOR

Find out how much extra money you can earn by moving your bank money into an account that pays more.

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  • george koshefsky

    April 21, 2015

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

  • ctyank January 19, 2015

    January 19, 2015

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

  • Sol @ Travis

    September 29, 2013

    @ Travis

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

  • Travis MacDonald

    September 29, 2013

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

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