New Mexico

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You are viewing savings rates from banks in Los Ranchos de Albuquerque, New Mexico

 

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!

Los Ranchos de Albuquerque, NM - December 15, 2024

Savings Account National Average Rate: 0.45% ?

Banks APY MIN

Rate History: 4.10% → 3.50%

| 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

Rate History: 3.56% → 2.78%

| Feb 7, 2020

I contacted the massage bank and they are not offering 2.02 it’s 1.10 Read More

| 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

| Sep 28, 2016

After looking around, looks like AlaskaUSA has the better current rate of 2 percent for 5 years. A little more can be obtained at Discover/AAA for a 10 year CD. Read More

Rate History: 2.02% → 1.46%

Rate History: 1.00% → 1.50% → 1.25%

| May 29, 2020

Dua Read More

Rate History: 1.01% → 1.02%

| 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

Rate History: 1.51% → 1.00%

| Feb 7, 2020

I contacted the massage bank and they are not offering 2.02 it’s 1.10 Read More

0.60%

$2,500

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0.55%

$2,500

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Rate History: 0.55% → 0.50%

| May 29, 2020

Dua Read More

0.45%

$2,500

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0.40%

$10,000

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| Jun 28, 2017

showmefivethousanddollars Read More

0.35%

$25,000

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| Oct 11, 2017

Our experience was the worst. Our mortgage loan officer was Kathy Funke. That lady was so messed up. She literally drained my savings account to a negative status that I had to take a personal loan from a ... Read More

0.30%

$2,500

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0.25%

$100

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0.25%

$10,000

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0.25%

$25,000

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0.25%

$25,000

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0.25%

$10,000

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| Oct 11, 2017

Our experience was the worst. Our mortgage loan officer was Kathy Funke. That lady was so messed up. She literally drained my savings account to a negative status that I had to take a personal loan from a ... Read More

Rate History: 4.25% → 4.16% → 4.25% → 3.75% → 0.25%

| 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

0.24%

$25,000

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0.22%

$10,000

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0.20%

$25,000

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0.20%

$0

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0.20%

$2,500

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0.20%

$10,000

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0.20%

$2,500

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0.20%

$2,500

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0.20%

$2,500

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0.17%

$2,500

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0.15%

$1,000

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0.15%

$2,500

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0.15%

$2,500

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0.15%

$25,000

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| Apr 18, 2023

Worst bank ever!!!!!! If your an independent and not a commercial customer they don’t take care of you…..my family has been with LCSB for years and of course it is mostly commercial with my family memb... Read More

0.15%

$2,500

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0.15%

$25,000

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0.15%

$2,500

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0.15%

$2,500

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0.15%

$2,500

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| Jun 28, 2017

showmefivethousanddollars Read More

0.15%

$10,000

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0.15%

$2,500

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| Oct 11, 2017

Our experience was the worst. Our mortgage loan officer was Kathy Funke. That lady was so messed up. She literally drained my savings account to a negative status that I had to take a personal loan from a ... Read More

0.15%

$2,500

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0.15%

$2,500

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0.13%

$200

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0.11%

$2,500

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0.10%

$2,500

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0.10%

$100

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| Sep 28, 2016

After looking around, looks like AlaskaUSA has the better current rate of 2 percent for 5 years. A little more can be obtained at Discover/AAA for a 10 year CD. Read More

| Feb 25, 2023

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... Read More

0.10%

$2,500

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0.10%

$2,500

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Rate History: 0.20% → 0.10%

| May 29, 2020

Dua Read More

0.10%

$1

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| Apr 18, 2023

Worst bank ever!!!!!! If your an independent and not a commercial customer they don’t take care of you…..my family has been with LCSB for years and of course it is mostly commercial with my family memb... Read More

0.10%

$25,000

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0.10%

$2,500

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0.10%

$2,500

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0.10%

$25,000

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| Apr 9, 2020

I would stay away from this bank. It was much better run when it was Valley Community Bank, but went into the toilet when it was bought by Bay Commercial Bank. Their online banking terms and conditions cha... Read More

0.10%

$2,500

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0.10%

$2,500

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| Jun 28, 2017

showmefivethousanddollars Read More

0.10%

$2,500

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0.10%

$2,500

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0.10%

$25,000

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0.10%

$2,500

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| Oct 11, 2017

Our experience was the worst. Our mortgage loan officer was Kathy Funke. That lady was so messed up. She literally drained my savings account to a negative status that I had to take a personal loan from a ... Read More

0.10%

$2,500

Learn More

0.09%

$2,500

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0.08%

$2,500

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0.08%

$2,500

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0.08%

$25,000

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0.08%

$25,000

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0.07%

$10,000

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0.06%

$10,000

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0.06%

$2,500

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0.05%

$2,500

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0.05%

$100

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| Feb 26, 2020

Recently closed my accounts with Citizens. Front line tellers very discourteous. Most of my transactions were deposits however, each check I tried to deposit required 2nd and supervisor approval. Not askin... Read More

0.05%

$25,000

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0.05%

$2,500

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0.05%

$2,500

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| Sep 21, 2020

I am fed up with how poorly this bank is run. I have made deposit and given a receipt with the wrong amount more than once. I have received other customer's cancelled checks. The online bank site is a mess... Read More

0.05%

$2,500

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0.05%

$2,500

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| Nov 9, 2023

Unhappy with ATM on Southside. I.bank with wafd they closed. Told wsfd customers can get cash with card. Employees are very nosy with slanderous gossip. I'm treated like a criminal. That why I don't use i... Read More

0.05%

$2,500

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| Apr 9, 2020

I would stay away from this bank. It was much better run when it was Valley Community Bank, but went into the toilet when it was bought by Bay Commercial Bank. Their online banking terms and conditions cha... Read More

0.05%

$2,500

Learn More

0.05%

$2,500

Learn More

0.05%

$2,500

Learn More

0.05%

$2,500

Learn More

0.05%

$1

Learn More

| Apr 18, 2023

Worst bank ever!!!!!! If your an independent and not a commercial customer they don’t take care of you…..my family has been with LCSB for years and of course it is mostly commercial with my family memb... Read More

0.04%

$25,000

Learn More

0.04%

$2,500

Learn More

| 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

0.03%

$100

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| Feb 26, 2020

Recently closed my accounts with Citizens. Front line tellers very discourteous. Most of my transactions were deposits however, each check I tried to deposit required 2nd and supervisor approval. Not askin... Read More

0.03%

$2,500

Learn More

0.02%

$2,500

Learn More

| Nov 9, 2023

Unhappy with ATM on Southside. I.bank with wafd they closed. Told wsfd customers can get cash with card. Employees are very nosy with slanderous gossip. I'm treated like a criminal. That why I don't use i... Read More

0.01%

$2,500

Learn More

0.01%

$2,500

Learn 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.