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Niagara Falls, New York Savings Rates 2020

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!

Niagara Falls, NY - February 16, 2020

Savings Account National Average Rate: 0.19% ?

Advertiser Disclosure
BankS APY Vs.
Nat'l
Av.
MIN Miles?
Sponsored Advertiser Disclosure
1.95% 10.43x $500 4825.40
1.90% 10.16x $5,000 4860.89
1.85% 9.89x $500 4825.40
1.81% 9.68x $100 0.00
1.75% 9.36x $15,000 4824.27
1.75% 9.36x $500 4821.29
1.75% 9.36x $5,001 4827.34
1.70% 9.09x $1 4773.56
1.70% 9.09x $1 4827.37
1.65% 8.82x $1 4826.67
1.60% 8.56x $2,500 4825.04
1.60% 8.56x $100 4828.17
1.60% 8.56x $20,000 4868.42
1.55% 8.29x $1 4826.67
1.50% 8.02x $100 4828.17
1.50% 8.02x $25,000 4826.52
1.40% 7.49x $2,500 4825.04
1.25% 6.68x $25,000 4821.08
1.25% 6.68x $2,500 4813.43
1.25% 6.68x $1,000 0.00
1.25% 6.68x $10,000 4826.99
1.15% 6.15x $2,500 4827.42
1.15% 6.15x $25,000 4827.37
1.14% 6.10x $25,000 4797.83
1.10% 5.88x $250 4976.83
1.01% 5.40x $2,500 4825.04
1.00% 5.35x $1,000 4976.83
1.00% 5.35x $2,500 4804.27
1.00% 5.35x $2,500 4816.81
1.00% 5.35x $25,000 4821.85
1.00% 5.35x $25,000 5040.56
1.00% 5.35x $10,000 4827.94
1.00% 5.35x $1 5016.44
1.00% 5.35x $1,000 4829.88
0.90% 4.81x $1,500 4827.29
0.90% 4.81x $10,000 4827.37
0.89% 4.76x $5,000 5111.60
0.76% 4.06x $25,001 5038.97
0.75% 4.01x $100 4826.52
0.75% 4.01x $25,000 5073.80
0.75% 4.01x $1 4813.43
0.75% 4.01x $25,000 4821.45
0.75% 4.01x $1,500 4825.10
0.75% 4.01x $500 4827.94
0.65% 3.48x $25,000 4827.45
0.65% 3.48x $15,000 4821.61
0.65% 3.48x $1 5100.45
0.60% 3.21x $25,000 5036.64
0.51% 2.73x $25,000 4820.50
0.51% 2.73x $10 4869.07
0.50% 2.67x $5,000 4811.91
0.50% 2.67x $1 5071.10
0.50% 2.67x $25,000 5075.26
0.50% 2.67x $500 4827.29
0.50% 2.67x $25 5073.80
0.50% 2.67x $50 4824.73
0.50% 2.67x $25,000 4809.81
0.50% 2.67x $2,500 4829.63
0.50% 2.67x $25 4827.94
0.50% 2.67x $25,000 4882.41
0.45% 2.41x $250 4823.05
0.45% 2.41x $10,000 5036.64
0.45% 2.41x $25,001 4826.07
0.41% 2.19x $10,000 0.00
0.40% 2.14x $25,000 5016.33
0.40% 2.14x $100 4825.85
0.40% 2.14x $2,500 4827.38
0.40% 2.14x $100 4827.41
0.40% 2.14x $100 4827.42
0.40% 2.14x $1,000 5015.74
0.40% 2.14x $10,001 5038.24
0.40% 2.14x $25,000 4929.49
0.36% 1.93x $25,000 4911.74
0.35% 1.87x $25,000 4825.85
0.35% 1.87x $25,000 4827.52
0.35% 1.87x $25,000 4828.09
0.35% 1.87x $25,000 4860.89
0.35% 1.87x $2,000 4821.45
0.35% 1.87x $10,000 4929.49
0.35% 1.87x $10,000 5053.60
0.31% 1.66x $25,000 4869.07
0.30% 1.60x $5,000 4826.60
0.30% 1.60x $10,000 4825.85
0.30% 1.60x $200 4820.50
0.30% 1.60x $1 4828.09
0.30% 1.60x $25,000 4894.26
0.30% 1.60x $1 4819.64
0.30% 1.60x $10,000 4826.86
0.30% 1.60x $2,500 4883.12
0.30% 1.60x $300 4821.45
0.30% 1.60x $100 4821.85
0.30% 1.60x $25,000 4827.41
0.30% 1.60x $50 5052.54
0.30% 1.60x $5 4929.49
0.30% 1.60x $100 4829.88
0.26% 1.39x $1,000 4820.50
0.26% 1.39x $10,000 4869.07
0.25% 1.34x $25,000 4827.73
0.25% 1.34x $25,000 4958.61
0.25% 1.34x $200 4827.38
0.25% 1.34x $10,000 5029.24
0.25% 1.34x $300 4828.09
0.25% 1.34x $2,500 5095.57
0.25% 1.34x $20,000 5044.71
0.25% 1.34x $10 5066.23
0.25% 1.34x $1 4827.07
0.25% 1.34x $1 4821.61
0.25% 1.34x $10,000 5053.34
0.25% 1.34x $25,000 5042.31
0.25% 1.34x $2,500 5075.26
0.25% 1.34x $25,000 4824.27
0.25% 1.34x $10,000 5050.17
0.25% 1.34x $1 5038.97
0.25% 1.34x $1,000 4828.03
0.25% 1.34x $100 4818.78
0.25% 1.34x $2,500 4809.81
0.25% 1.34x $50 4829.63
0.25% 1.34x $10,000 4821.85
0.25% 1.34x $1 4827.48
0.25% 1.34x $25,000 4882.97
0.25% 1.34x $1 4827.34
0.25% 1.34x $20 5053.60
0.25% 1.34x $50 4868.06
0.25% 1.34x $10 5041.83
0.22% 1.18x $10,000 5042.31
0.21% 1.12x $2,500 4869.07
0.20% 1.07x $25,000 5108.37
0.20% 1.07x $5,000 4827.52
0.20% 1.07x $1 4827.73
0.20% 1.07x $25,000 4914.28
0.20% 1.07x $1 4827.45
0.20% 1.07x $25,000 5113.42
0.20% 1.07x $10,000 4825.72
0.20% 1.07x $10,000 4821.23
0.20% 1.07x $1 4894.26
0.20% 1.07x $1 4827.34
0.20% 1.07x $25,000 5016.33
0.20% 1.07x $10,000 4826.62
0.20% 1.07x $250 4826.86
0.20% 1.07x $2,500 4860.89
0.20% 1.07x $10,000 5121.98
0.20% 1.07x $100 4826.52
0.20% 1.07x $200 4883.12
0.20% 1.07x $1,000 4827.25
0.20% 1.07x $25,000 5045.84
0.20% 1.07x $2,500 4838.85
0.20% 1.07x $10,000 4872.32
0.20% 1.07x $1 4821.85
0.20% 1.07x $10 4875.56
0.20% 1.07x $10,000 4820.59
0.20% 1.07x $25,000 4863.75
0.20% 1.07x $25,000 4880.33
0.20% 1.07x $100 4827.41
0.20% 1.07x $25,000 4856.85
0.20% 1.07x $10 4882.41
0.20% 1.07x $300 4868.42
0.20% 1.07x $25,000 5004.11
0.20% 1.07x $25,000 4909.95
0.20% 1.07x $2,500 4841.95
0.20% 1.07x $100 4826.59
0.20% 1.07x $1 4826.07
0.20% 1.07x $2,500 4868.06
0.20% 1.07x $100 5041.83
0.18% 0.96x $25,000 5078.39
0.15% 0.80x $1,000 4825.85
0.15% 0.80x $1 4914.28
0.15% 0.80x $10,000 5113.42
0.15% 0.80x $25,000 4827.56
0.15% 0.80x $2,500 4958.61
0.15% 0.80x $100 4894.26
0.15% 0.80x $25,000 5004.14
0.15% 0.80x $5,000 5044.71
0.15% 0.80x $1 4826.62
0.15% 0.80x $2,500 4860.89
0.15% 0.80x $25,000 5071.10
0.15% 0.80x $2,500 4911.74
0.15% 0.80x $25,000 5042.31
0.15% 0.80x $5,000 4821.08
0.15% 0.80x $25 5075.26
0.15% 0.80x $10 5038.24
0.15% 0.80x $1,000 4828.03
0.15% 0.80x $10 4824.73
0.15% 0.80x $1,000 4818.78
0.15% 0.80x $1 4827.42
0.15% 0.80x $1 4826.67
0.15% 0.80x $5,000 5111.60
0.15% 0.80x $10,000 5045.84
0.15% 0.80x $10,000 4797.83
0.15% 0.80x $1 4872.32
0.15% 0.80x $2,500 4875.56
0.15% 0.80x $2,500 4820.59
0.15% 0.80x $2,500 4863.75
0.15% 0.80x $25,000 4914.46
0.15% 0.80x $25 5040.56
0.15% 0.80x $100 4882.97
0.15% 0.80x $10,000 4856.85
0.15% 0.80x $10,000 5078.39
0.15% 0.80x $25,000 4826.75
0.15% 0.80x $25,000 4824.74
0.15% 0.80x $1 5004.11
0.15% 0.80x $2,500 4841.95
0.15% 0.80x $10,000 4827.68
0.15% 0.80x $1,000 4841.82
0.15% 0.80x $10,000 5003.77
0.15% 0.80x $1 5042.28
0.15% 0.80x $2,501 4826.07
0.15% 0.80x $25,000 4829.59
0.10% 0.53x $2,500 4826.60
0.10% 0.53x $2,500 4976.79
0.10% 0.53x $10,000 5108.37
0.10% 0.53x $1 4827.52
0.10% 0.53x $100 4827.73
0.10% 0.53x $1 4914.28
0.10% 0.53x $1 5113.42
0.10% 0.53x $10,000 4827.56
0.10% 0.53x $100 4825.72
0.10% 0.53x $10 4958.61
0.10% 0.53x $10 5029.24
0.10% 0.53x $1 4821.23
0.10% 0.53x $2,500 5095.57
0.10% 0.53x $1 0.00
0.10% 0.53x $1 4954.61
0.10% 0.53x $25,000 5004.14
0.10% 0.53x $200 5044.71
0.10% 0.53x $2,500 4827.07
0.10% 0.53x $50 4911.74
0.10% 0.53x $10,000 5042.31
0.10% 0.53x $1 4821.08
0.10% 0.53x $25 5015.74
0.10% 0.53x $100 0.00
0.10% 0.53x $15,000 4825.42
0.10% 0.53x $100 4824.27
0.10% 0.53x $25,000 5123.68
0.10% 0.53x $10 5050.17
0.10% 0.53x $1 0.00
0.10% 0.53x $5,000 4940.71
0.10% 0.53x $300 4826.67
0.10% 0.53x $2,500 5045.84
0.10% 0.53x $10,000 4797.83
0.10% 0.53x $25,000 4960.25
0.10% 0.53x $2,500 4896.18
0.10% 0.53x $25,000 4827.37
0.10% 0.53x $500 4825.10
0.10% 0.53x $25 4838.85
0.10% 0.53x $25,000 4970.91
0.10% 0.53x $1 4872.32
0.10% 0.53x $300 4820.59
0.10% 0.53x $1 4863.75
0.10% 0.53x $100 4914.46
0.10% 0.53x $2,500 5040.56
0.10% 0.53x $1,000 4880.33
0.10% 0.53x $50 5026.06
0.10% 0.53x $25,000 5016.44
0.10% 0.53x $10,000 4882.97
0.10% 0.53x $1 4914.83
0.10% 0.53x $2,500 5078.39
0.10% 0.53x $2,500 4826.75
0.10% 0.53x $1 4882.41
0.10% 0.53x $2,500 4868.42
0.10% 0.53x $1,000 4824.74
0.10% 0.53x $10,000 4997.29
0.10% 0.53x $1 5004.11
0.10% 0.53x $1 4909.95
0.10% 0.53x $100 5051.64
0.10% 0.53x $100 4841.82
0.10% 0.53x $2,500 5003.77
0.10% 0.53x $15,000 4882.26
0.10% 0.53x $1 4877.47
0.10% 0.53x $1 5042.28
0.10% 0.53x $2,500 4869.07
0.10% 0.53x $5,000 4914.81
0.10% 0.53x $10,000 4829.59
0.10% 0.53x $1 4846.61
0.10% 0.53x $1 5100.45
0.10% 0.53x $5,000 4827.32
0.08% 0.43x $2,500 4874.36
0.08% 0.43x $10,000 4827.37
0.08% 0.43x $2,500 5078.39
0.08% 0.43x $25,000 4994.30
0.08% 0.43x $25,000 4827.70
0.05% 0.27x $2,500 4976.79
0.05% 0.27x $100 5108.37
0.05% 0.27x $100 4827.56
0.05% 0.27x $300 4804.27
0.05% 0.27x $10 4958.61
0.05% 0.27x $1 4827.45
0.05% 0.27x $1 4954.61
0.05% 0.27x $25 5004.14
0.05% 0.27x $1 5044.71
0.05% 0.27x $1 5016.33
0.05% 0.27x $1 4826.62
0.05% 0.27x $100 5121.98
0.05% 0.27x $1 5071.10
0.05% 0.27x $250 4816.81
0.05% 0.27x $1 5053.34
0.05% 0.27x $1 5042.31
0.05% 0.27x $100 5036.47
0.05% 0.27x $2,500 0.00
0.05% 0.27x $50 4825.42
0.05% 0.27x $2,500 4824.27
0.05% 0.27x $2,500 4926.01
0.05% 0.27x $10 5127.93
0.05% 0.27x $10,000 5123.68
0.05% 0.27x $1,000 4827.25
0.05% 0.27x $25 4940.71
0.05% 0.27x $200 4809.81
0.05% 0.27x $25 5111.60
0.05% 0.27x $20,000 4874.36
0.05% 0.27x $100 5045.84
0.05% 0.27x $1 4831.39
0.05% 0.27x $2,500 4797.83
0.05% 0.27x $100 4960.25
0.05% 0.27x $50 4896.18
0.05% 0.27x $10,000 4970.91
0.05% 0.27x $1,000 4914.46
0.05% 0.27x $2,500 4880.33
0.05% 0.27x $1 5016.44
0.05% 0.27x $1 5061.36
0.05% 0.27x $1,000 4882.97
0.05% 0.27x $1 4856.85
0.05% 0.27x $1,000 4826.75
0.05% 0.27x $1 4762.99
0.05% 0.27x $500 4824.74
0.05% 0.27x $50 4997.29
0.05% 0.27x $2,500 4909.95
0.05% 0.27x $500 4827.68
0.05% 0.27x $1 4882.26
0.05% 0.27x $2,500 4827.70
0.05% 0.27x $50 4914.81
0.05% 0.27x $1 4829.59
0.05% 0.27x $2,500 4846.61
0.04% 0.21x $500 4824.09
0.04% 0.21x $1 5042.31
0.03% 0.16x $2,500 5124.28
0.03% 0.16x $2,500 5016.33
0.03% 0.16x $2,500 5127.93
0.03% 0.16x $2,500 5123.68
0.03% 0.16x $2,500 4874.36
0.03% 0.16x $1 4826.49
0.03% 0.16x $200 5011.61
0.03% 0.16x $250 4994.30
0.03% 0.16x $100 4826.99
0.03% 0.13x $25,000 5026.06
0.02% 0.11x $1 5123.68
0.02% 0.11x $250 4797.83
0.02% 0.11x $1 4827.37
0.02% 0.11x $500 4867.38
0.02% 0.11x $25,000 4815.28
0.02% 0.11x $1 4829.59
0.02% 0.08x $2,500 5026.06
0.01% 0.05x $1 4827.45
0.01% 0.05x $50 4827.34
0.01% 0.05x $1 4804.25
0.01% 0.05x $1 4826.72
0.01% 0.05x $2,500 4926.01
0.01% 0.05x $1 5111.60
0.01% 0.05x $1 4831.39
0.01% 0.05x $2,500 4827.37
0.01% 0.05x $2,500 4970.91
0.01% 0.05x $1 4815.28
0.01% 0.05x $2,500 4827.70
0.01% 0.05x $2,500 4846.61
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.

PRODUCT INFORMATION


Local Savings Accounts 2020

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 ownership categories (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 & 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.

Use or Change these Amounts And Rates