Certain rates on this table are from BestCashCow.com advertisers.
Compensation may impact the order in which rates appear.
This is to inform our readers that BestCashCow has received compensation for the placement of this bank offer.
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!
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...
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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...
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I bank at this bank and they have the best people working there They all have a lot of knowledge and most all have been there a long time they do a great job and have the highest CD rates around
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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...
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On September 13th, 2021. I called “SBOK” to verify if the account number matches the business name that is on the check I’ve received. I spoke with a supervisor named Brenda Jones. Brenda informed me...
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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...
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This is a true blue community bank. When you call you get people that are able to take action and make decisions. Customer service is number 1. Works great for CDs. They have a nice stand alone buildin...
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At your Rock Hill location, I feel you are not committed to the safety of your customers as you say on your web site. Why aren't your employees wearing masks? Why do they let patrons enter without a mask...
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At your Rock Hill location, I feel you are not committed to the safety of your customers as you say on your web site. Why aren't your employees wearing masks? Why do they let patrons enter without a mask...
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This is a true blue community bank. When you call you get people that are able to take action and make decisions. Customer service is number 1. Works great for CDs. They have a nice stand alone buildin...
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First this is a centurion bank. It’s done something right for over 100 yrs. Through the Great Depression & Recent Recessions which says a lot. They stick to what they know and do best Ag lending. They ar...
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Not a handicap friendly bank at main office. Customers must walk long distance to reach teller windows far from entrance. CD rates could be improved. Putman County Bank has 1 percent better on larger...
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This rate is wrong I called the bank they do not have this rate cash cow needs to do a better job updating these rates this is not the first time
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Avoid working with this bank.
You will have hard times, getting your money.
We spent 3k to open an account, we deposited and fighting for 3 months to get them back after we hired a lawyer.
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At your Rock Hill location, I feel you are not committed to the safety of your customers as you say on your web site. Why aren't your employees wearing masks? Why do they let patrons enter without a mask...
Read More
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
Not a handicap friendly bank at main office. Customers must walk long distance to reach teller windows far from entrance. CD rates could be improved. Putman County Bank has 1 percent better on larger...
Read More
Not a handicap friendly bank at main office. Customers must walk long distance to reach teller windows far from entrance. CD rates could be improved. Putman County Bank has 1 percent better on larger...
Read More
On September 13th, 2021. I called “SBOK” to verify if the account number matches the business name that is on the check I’ve received. I spoke with a supervisor named Brenda Jones. Brenda informed me...
Read More
First this is a centurion bank. It’s done something right for over 100 yrs. Through the Great Depression & Recent Recessions which says a lot. They stick to what they know and do best Ag lending. They ar...
Read More
I entrusted my Life Savings to this bank and they closed my accounts because I asked an honest question about an overcharge I noticed in my statement records.
I mistakenly believed I could ask a simple ...
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Is American Trust Letter this bank's service platform or scammers' website? I was charged by first 150 USD, then 10% to withdraw money there. Website is www.americantrustletter.com
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The staff at Midwest BankCentre is exceptional at making you feel like you belong to an institution much higher than simply a place to keep your money and bank.
They really focus on making you feel like f...
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I have been working for this company more than 5 years. I would not recommend any investment with First Citizens Bank. They are the worst performer on the market based on the customer and employee reviews...
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First this is a centurion bank. It’s done something right for over 100 yrs. Through the Great Depression & Recent Recessions which says a lot. They stick to what they know and do best Ag lending. They ar...
Read More
This rate is wrong I called the bank they do not have this rate cash cow needs to do a better job updating these rates this is not the first time
Read More
Is American Trust Letter this bank's service platform or scammers' website? I was charged by first 150 USD, then 10% to withdraw money there. Website is www.americantrustletter.com
Read More
The staff at Midwest BankCentre is exceptional at making you feel like you belong to an institution much higher than simply a place to keep your money and bank.
They really focus on making you feel like f...
Read More
I entrusted my Life Savings to this bank and they closed my accounts because I asked an honest question about an overcharge I noticed in my statement records.
I mistakenly believed I could ask a simple ...
Read More
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...
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This rate is wrong I called the bank they do not have this rate cash cow needs to do a better job updating these rates this is not the first time
Read More
The staff at Midwest BankCentre is exceptional at making you feel like you belong to an institution much higher than simply a place to keep your money and bank.
They really focus on making you feel like f...
Read More
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...
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Avoid working with this bank.
You will have hard times, getting your money.
We spent 3k to open an account, we deposited and fighting for 3 months to get them back after we hired a lawyer.
Read More
horrid bank with incompetent and rude staff that treat you like a problem for wanting to do banking business. As if doing there job in a problem you caused instead of a customer to be served. closed my acc...
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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 ...
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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...
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This rate is wrong I called the bank they do not have this rate cash cow needs to do a better job updating these rates this is not the first time
Read More
Avoid working with this bank.
You will have hard times, getting your money.
We spent 3k to open an account, we deposited and fighting for 3 months to get them back after we hired a lawyer.
Read More
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
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
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
This rate is wrong I called the bank they do not have this rate cash cow needs to do a better job updating these rates this is not the first time
Read More
Avoid working with this bank.
You will have hard times, getting your money.
We spent 3k to open an account, we deposited and fighting for 3 months to get them back after we hired a lawyer.
Read More
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
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.
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.
SAVINGS & CD CALCULATOR
Find out how much extra money you can earn
by moving your bank money into an account that pays more.
