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Pennsylvania 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!

PA - January 19, 2017

Savings Account National Average Rate: 0.13% ?

BANKS APY Vs. Nat'l Av. MIN MILES ?
First Priority Bank 0.85% 6.80x $7,500 -
Santander Bank, N.A. 0.80% 6.40x $100,000 -
Royal Bank America 0.75% 6.00x $100 -
Elderton State Bank 0.60% 4.80x $1 -
Wilmington Savings Fund Society, FSB 0.60% 4.80x $25,000 -
The Victory Bank 0.55% 4.40x $100 -
Slovenian Savings and Loan Association of Canonsburg 0.55% 4.40x $50 -
Customers Bank 0.50% 4.00x $10,000 -
Mifflin County Savings Bank 0.50% 4.00x $25,000 -
Hamlin Bank and Trust Company 0.50% 4.00x $25 -
Stonebridge Bank 0.50% 4.00x $1 -
Asian Bank 0.50% 4.00x $10,000 -
Greenville Savings Bank 0.50% 4.00x $50 -
First Bank 0.50% 4.00x $100 -
DNB First, National Association 0.50% 4.00x $25,000 -
Mifflin County Savings Bank 0.45% 3.60x $10,000 -
Parke Bank 0.45% 3.60x $100 -
New Tripoli Bank 0.45% 3.60x $25,000 -
CNB Bank 0.41% 3.28x $500 -
1st Summit Bank 0.41% 3.28x $25,000 -
First Priority Bank 0.40% 3.20x $25,000 -
DNB First, National Association 0.40% 3.20x $2,500 -
Customers Bank 0.40% 3.20x $50 -
CNB Bank 0.38% 3.04x $25,000 -
1st Summit Bank 0.36% 2.88x $300 -
Fidelity Savings and Loan Association of Bucks Co 0.35% 2.80x $10,000 -
Indiana First Savings Bank 0.35% 2.80x $25,000 -
Marion Center Bank 0.35% 2.80x $25,000 -
Bank of Bird-in-Hand 0.35% 2.80x $25,000 -
Mid Penn Bank 0.35% 2.80x $25,000 -
Enterprise Bank 0.35% 2.80x $100 -
West Milton State Bank 0.35% 2.80x $25,000 -
Parke Bank 0.35% 2.80x $2,500 -
Altoona First Savings Bank 0.35% 2.80x $20,000 -
Port Richmond Savings 0.30% 2.40x $25,000 -
First Federal Savings and Loan Association of Greene Co 0.30% 2.40x $10 -
Mifflin County Savings Bank 0.30% 2.40x $2,500 -
Republic Bank 0.30% 2.40x $25,000 -
Fidelity Savings and Loan Association of Bucks Co 0.30% 2.40x $25 -
The Victory Bank 0.30% 2.40x $25,000 -
Berkshire Bank 0.30% 2.40x $100 -
PennCrest Bank 0.30% 2.40x $25,001 -
Indiana First Savings Bank 0.30% 2.40x $2,500 -
Reliance Savings Bank 0.30% 2.40x $25,000 -
New Tripoli Bank 0.30% 2.40x $1,000 -
The First National Bank of Lilly 0.30% 2.40x $25,001 -
The Muncy Bank and Trust Company 0.30% 2.40x $15,000 -
Penn Community Bank 0.30% 2.40x $25,000 -
CNB Bank 0.26% 2.08x $500 -
First Federal Savings and Loan Association of Greene Co 0.25% 2.00x $1,000 -
West Milton State Bank 0.25% 2.00x $2,500 -
York Traditions Bank 0.25% 2.00x $10,000 -
Ambler Savings Bank 0.25% 2.00x $50 -
Somerset Trust Company 0.25% 2.00x $25,000 -
Indiana First Savings Bank 0.25% 2.00x $1 -
Altoona First Savings Bank 0.25% 2.00x $1 -
Milton Savings Bank 0.25% 2.00x $1,000 -
Port Richmond Savings 0.25% 2.00x $10,000 -
The Victory Bank 0.25% 2.00x $10,000 -
Farmers and Merchants Trust Company of Chambersburg 0.25% 2.00x $25,000 -
Mid Penn Bank 0.25% 2.00x $10,000 -
Ameriserv Financial Bank 0.25% 2.00x $20,000 -
PennCrest Bank 0.25% 2.00x $2,501 -
Investment Savings Bank 0.25% 2.00x $25,000 -
Greenville Savings Bank 0.25% 2.00x $25,000 -
The Turbotville National Bank 0.25% 2.00x $2,500 -
Beneficial Bank 0.25% 2.00x $25,000 -
Republic Bank 0.25% 2.00x $10,000 -
Marion Center Bank 0.25% 2.00x $25,000 -
United Bank 0.25% 2.00x $15,000 -
United Savings Bank 0.25% 2.00x $25,000 -
The Bank of Landisburg 0.25% 2.00x $25,000 -
Marquette Savings Bank 0.25% 2.00x $10,000 -
Stonebridge Bank 0.25% 2.00x $1 -
The Scottdale Bank & Trust Company 0.25% 2.00x $25 -
1st Summit Bank 0.21% 1.68x $50 -
Somerset Trust Company 0.20% 1.60x $1 -
ESSA Bank & Trust 0.20% 1.60x $25,000 -
First Community Bank of Mercersburg 0.20% 1.60x $25,000 -
Fulton Bank, National Association 0.20% 1.60x $10,000 -
The Bank of Landisburg 0.20% 1.60x $2,500 -
Washington Financial Bank 0.20% 1.60x $2,500 -
Beneficial Bank 0.20% 1.60x $5,000 -
Port Richmond Savings 0.20% 1.60x $2,500 -
York Traditions Bank 0.20% 1.60x $1 -
The Neffs National Bank 0.20% 1.60x $10 -
Malvern Federal Savings Bank 0.20% 1.60x $25,000 -
The Victory Bank 0.20% 1.60x $1 -
Royal Bank America 0.20% 1.60x $1 -
QNB Bank 0.20% 1.60x $25,000 -
The Juniata Valley Bank 0.20% 1.60x $25,000 -
TD Bank, National Association 0.20% 1.60x $25,000 -
Bucks County Bank 0.20% 1.60x $10,000 -
Penn Community Bank 0.20% 1.60x $100 -
Monument Bank 0.20% 1.60x $25,000 -
Berkshire Bank 0.20% 1.60x $10,000 -
Orrstown Bank 0.20% 1.60x $20,000 -
Washington Savings Bank 0.20% 1.60x $1,000 -
Iron Workers Savings Bank 0.20% 1.60x $25,000 -
William Penn Bank 0.20% 1.60x $1,000 -
New Tripoli Bank 0.20% 1.60x $20 -
VIST Bank 0.20% 1.60x $25,000 -
Community Bank 0.20% 1.60x $25,000 -
Mifflinburg Bank and Trust Company 0.20% 1.60x $1 -
Ameriserv Financial Bank 0.20% 1.60x $1 -
The Northumberland National Bank 0.20% 1.60x $2,500 -
Bank of Bird-in-Hand 0.20% 1.60x $10,000 -
Community Bank, National Association 0.20% 1.60x $25,000 -
Community State Bank of Orbisonia 0.20% 1.60x $25,000 -
West Milton State Bank 0.20% 1.60x $2,500 -
Citizens Savings Bank 0.20% 1.60x $25,000 -
Hometown Bank of Pennsylvania 0.20% 1.60x $25 -
First Priority Bank 0.20% 1.60x $7,500 -
The Turbotville National Bank 0.20% 1.60x $25 -
Centric Bank 0.20% 1.60x $10,000 -
Milton Savings Bank 0.20% 1.60x $100 -
Northwest Bank 0.20% 1.60x $10,000 -
The First National Bank of Lilly 0.20% 1.60x $100 -
Huntingdon Valley Bank 0.20% 1.60x $5,000 -
United Savings Bank 0.20% 1.60x $100 -
First Bank 0.20% 1.60x $10,001 -
Harleysville Savings Bank 0.18% 1.44x $25,000 -
The Farmers National Bank of Canfield 0.18% 1.44x $25,000 -
Marion Center Bank 0.17% 1.36x $10,000 -
Somerset Trust Company 0.15% 1.20x $250 -
Iron Workers Savings Bank 0.15% 1.20x $10,000 -
Wesbanco Bank, Inc. 0.15% 1.20x $1,000 -
First Community Bank of Mercersburg 0.15% 1.20x $150 -
The Scottdale Bank & Trust Company 0.15% 1.20x $2,500 -
Washington Savings Bank 0.15% 1.20x $100 -
Community Bank 0.15% 1.20x $200 -
Beneficial Bank 0.15% 1.20x $1 -
Washington Financial Bank 0.15% 1.20x $2,500 -
PS Bank 0.15% 1.20x $10,000 -
Orrstown Bank 0.15% 1.20x $250 -
United Savings Bank 0.15% 1.20x $2,500 -
Phoenixville Federal Bank and Trust 0.15% 1.20x $100 -
TD Bank, National Association 0.15% 1.20x $10,000 -
Lafayette Ambassador Bank 0.15% 1.20x $10,000 -
Abacus Federal Savings Bank 0.15% 1.20x $500 -
Hatboro Federal Savings, FA 0.15% 1.20x $100 -
The Honesdale National Bank 0.15% 1.20x $2,500 -
Prudential Savings Bank 0.15% 1.20x $25,000 -
First United National Bank 0.15% 1.20x $1,000 -
Reliance Savings Bank 0.15% 1.20x $2,500 -
The Huntington National Bank 0.15% 1.20x $10,000 -
Investment Savings Bank 0.15% 1.20x $10,000 -
The Dime Bank 0.15% 1.20x $2,500 -
United Bank of Philadelphia 0.15% 1.20x $2,500 -
Port Richmond Savings 0.15% 1.20x $25 -
Covenant Bank 0.15% 1.20x $1 -
William Penn Bank 0.15% 1.20x $100 -
DNB First, National Association 0.15% 1.20x $150 -
Riverview Bank 0.15% 1.20x $25 -
Huntingdon Valley Bank 0.15% 1.20x $50 -
Farmers and Merchants Trust Company of Chambersburg 0.15% 1.20x $2,500 -
Brentwood Bank 0.15% 1.20x $1 -
Swineford National Bank 0.15% 1.20x $25,000 -
Mifflinburg Bank and Trust Company 0.15% 1.20x $2,500 -
Kish Bank 0.15% 1.20x $1,000 -
Marion Center Bank 0.15% 1.20x $1,000 -
Mercer County State Bank 0.15% 1.20x $500 -
Royal Bank America 0.15% 1.20x $100 -
The Northumberland National Bank 0.15% 1.20x $2,500 -
Penn Community Bank 0.15% 1.20x $1,000 -
The Gratz Bank 0.15% 1.20x $1 -
QNB Bank 0.15% 1.20x $10,000 -
Community Bank, National Association 0.15% 1.20x $10,000 -
Clarion County Community Bank 0.15% 1.20x $25,000 -
Monument Bank 0.15% 1.20x $1 -
Mauch Chunk Trust Company 0.15% 1.20x $25,000 -
West Milton State Bank 0.15% 1.20x $1 -
Merchants Bank of Bangor 0.15% 1.20x $25,000 -
Branch Banking and Trust Company 0.15% 1.20x $25,000 -
Hometown Bank of Pennsylvania 0.15% 1.20x $100 -
Santander Bank, N.A. 0.15% 1.20x $10,000 -
The Andover Bank 0.15% 1.20x $25,000 -
Union Community Bank 0.15% 1.20x $25,000 -
Customers Bank 0.15% 1.20x $50 -
Community State Bank of Orbisonia 0.15% 1.20x $1,000 -
Altoona First Savings Bank 0.15% 1.20x $2,500 -
Republic Bank 0.15% 1.20x $100 -
The Provident Bank 0.15% 1.20x $1,000 -
ESSA Bank & Trust 0.15% 1.20x $10,000 -
Berkshire Bank 0.15% 1.20x $1 -
Landmark Community Bank 0.14% 1.12x $25,000 -
Harleysville Savings Bank 0.13% 1.04x $10,000 -
Fleetwood Bank 0.12% 0.96x $25,000 -
Landmark Community Bank 0.12% 0.96x $25,000 -
Clarion County Community Bank 0.12% 0.96x $10,000 -
PNC Bank, National Association 0.11% 0.88x $25,000 -
Reliance Savings Bank 0.11% 0.88x $5,000 -
Mercer County State Bank 0.10% 0.80x $2,500 -
Phoenixville Federal Bank and Trust 0.10% 0.80x $10,001 -
Citizens Savings Bank 0.10% 0.80x $10,000 -
PeoplesBank, a Codorus Valley Company 0.10% 0.80x $25 -
Harleysville Savings Bank 0.10% 0.80x $2,500 -
Centric Bank 0.10% 0.80x $1 -
The Farmers National Bank of Emlenton 0.10% 0.80x $25,000 -
Community Bank 0.10% 0.80x $2,500 -
The Bank of Landisburg 0.10% 0.80x $10 -
Marquette Savings Bank 0.10% 0.80x $1 -
Mifflin County Savings Bank 0.10% 0.80x $50 -
The Muncy Bank and Trust Company 0.10% 0.80x $10,000 -
Kish Bank 0.10% 0.80x $100 -
Malvern Federal Savings Bank 0.10% 0.80x $2,500 -
Marion Center Bank 0.10% 0.80x $100 -
First United National Bank 0.10% 0.80x $100 -
Slovenian Savings and Loan Association of Franklin-Conemaugh 0.10% 0.80x $50 -
PennCrest Bank 0.10% 0.80x $100 -
Clarion County Community Bank 0.10% 0.80x $1 -
First National Bank and Trust Company of Newtown 0.10% 0.80x $1 -
Republic Bank 0.10% 0.80x $1 -
QNB Bank 0.10% 0.80x $1 -
Orrstown Bank 0.10% 0.80x $1,000 -
Community First Bank 0.10% 0.80x $25,000 -
Bank of Bird-in-Hand 0.10% 0.80x $1,000 -
Jim Thorpe Neighborhood Bank 0.10% 0.80x $100 -
Greenville Savings Bank 0.10% 0.80x $2,500 -
The Andover Bank 0.10% 0.80x $10,000 -
Chemung Canal Trust Company 0.10% 0.80x $25,000 -
Prudential Savings Bank 0.10% 0.80x $10,000 -
Mifflinburg Bank and Trust Company 0.10% 0.80x $5,000 -
ESSA Bank & Trust 0.10% 0.80x $2,500 -
Asian Bank 0.10% 0.80x $250 -
The First National Bank of Mifflintown 0.10% 0.80x $50 -
Wayne Bank 0.10% 0.80x $2,500 -
Mid Penn Bank 0.10% 0.80x $1 -
Santander Bank, N.A. 0.10% 0.80x $1 -
Covenant Bank 0.10% 0.80x $1 -
The Honesdale National Bank 0.10% 0.80x $100 -
Investment Savings Bank 0.10% 0.80x $25 -
ACNB Bank 0.10% 0.80x $5,000 -
Mauch Chunk Trust Company 0.10% 0.80x $5,000 -
First Commonwealth Bank 0.10% 0.80x $20,000 -
The Ephrata National Bank 0.10% 0.80x $10,000 -
First Citizens Community Bank 0.10% 0.80x $10,000 -
PNC Bank, National Association 0.10% 0.80x $2,500 -
Merchants Bank of Bangor 0.10% 0.80x $10,000 -
Iron Workers Savings Bank 0.10% 0.80x $100 -
VIST Bank 0.10% 0.80x $10,000 -
First Priority Bank 0.10% 0.80x $500 -
Riverview Bank 0.10% 0.80x $2,500 -
The Juniata Valley Bank 0.10% 0.80x $100 -
Unity Bank 0.10% 0.80x $10,000 -
Swineford National Bank 0.10% 0.80x $10,000 -
Ameriserv Financial Bank 0.10% 0.80x $1 -
Reliance Savings Bank 0.10% 0.80x $15,000 -
First Bank 0.10% 0.80x $1,001 -
Northwest Bank 0.10% 0.80x $2,500 -
The Dime Bank 0.10% 0.80x $2,500 -
Citizens & Northern Bank 0.10% 0.80x $200 -
The Neffs National Bank 0.10% 0.80x $10 -
Standard Bank, PaSB 0.10% 0.80x $20,000 -
CNB Bank 0.10% 0.80x $2,500 -
Peoples Security Bank and Trust Company 0.10% 0.80x $25,000 -
PS Bank 0.10% 0.80x $1,000 -
Lafayette Ambassador Bank 0.10% 0.80x $1,000 -
NBT Bank, National Association 0.10% 0.80x $5,000 -
Wilmington Savings Fund Society, FSB 0.10% 0.80x $10,000 -
Union Community Bank 0.10% 0.80x $1,000 -
Monument Bank 0.10% 0.80x $1 -
Community State Bank of Orbisonia 0.10% 0.80x $1 -
Landmark Community Bank 0.09% 0.72x $1 -
PNC Bank, National Association 0.09% 0.72x $10,000 -
The Farmers National Bank of Canfield 0.08% 0.64x $7,500 -
Merchants Bank of Bangor 0.08% 0.64x $1,000 -
The Bryn Mawr Trust Company 0.08% 0.64x $10,000 -
Fulton Bank, National Association 0.08% 0.64x $1,000 -
Landmark Community Bank 0.08% 0.64x $10,000 -
First Citizens Community Bank 0.08% 0.60x $10,001 -
The Farmers National Bank of Emlenton 0.08% 0.60x $10,000 -
First Commonwealth Bank 0.07% 0.56x $25,000 -
First Columbia Bank & Trust Co. 0.07% 0.56x $10,000 -
Community Bank, National Association 0.07% 0.56x $25,000 -
Woodlands Bank 0.07% 0.56x $100 -
Prudential Savings Bank 0.07% 0.56x $1,000 -
West View Savings Bank 0.07% 0.56x $25,000 -
Fleetwood Bank 0.06% 0.48x $100 -
West View Savings Bank 0.06% 0.48x $10,000 -
NEXTIER BANK, NATIONAL ASSOCIATION 0.06% 0.48x $10,000 -
Chemung Canal Trust Company 0.05% 0.40x $100 -
First Keystone Community Bank 0.05% 0.40x $1 -
Iron Workers Savings Bank 0.05% 0.40x $1 -
MB Financial Bank, National Association 0.05% 0.40x $25,000 -
Woodforest National Bank 0.05% 0.40x $1 -
Merchants Bank of Bangor 0.05% 0.40x $1 -
Abacus Federal Savings Bank 0.05% 0.40x $500 -
Lafayette Ambassador Bank 0.05% 0.40x $1 -
Embassy Bank for the Lehigh Valley 0.05% 0.40x $1 -
The Fidelity Deposit and Discount Bank 0.05% 0.40x $100 -
PS Bank 0.05% 0.40x $1 -
Manufacturers and Traders Trust Company 0.05% 0.40x $25,000 -
United Bank of Philadelphia 0.05% 0.40x $150 -
First Citizens Community Bank 0.05% 0.40x $1 -
West View Savings Bank 0.05% 0.40x $100 -
Mauch Chunk Trust Company 0.05% 0.40x $1 -
FNB Bank, National Association 0.05% 0.40x $1,000 -
Univest Bank and Trust Co. 0.05% 0.40x $1 -
Dollar Bank, Federal Savings Bank 0.05% 0.40x $1 -
United Bank 0.05% 0.40x $1 -
The Bryn Mawr Trust Company 0.05% 0.40x $1 -
Wesbanco Bank, Inc. 0.05% 0.40x $300 -
Landmark Community Bank 0.05% 0.40x $1,000 -
Citizens Savings Bank 0.05% 0.40x $1 -
Peoples Security Bank and Trust Company 0.05% 0.40x $100 -
TD Bank, National Association 0.05% 0.40x $1 -
The Muncy Bank and Trust Company 0.05% 0.40x $25 -
NBT Bank, National Association 0.05% 0.40x $25 -
Community First Bank 0.05% 0.40x $1 -
The Farmers National Bank of Canfield 0.05% 0.40x $25,000 -
First National Bank of Pennsylvania 0.05% 0.40x $25,000 -
VIST Bank 0.05% 0.40x $1,500 -
ESSA Bank & Trust 0.05% 0.40x $100 -
United Savings Bank 0.05% 0.40x $250 -
Swineford National Bank 0.05% 0.40x $1 -
NEXTIER BANK, NATIONAL ASSOCIATION 0.05% 0.40x $1 -
Branch Banking and Trust Company 0.05% 0.40x $1 -
Community Bank, National Association 0.05% 0.40x $1 -
ACNB Bank 0.05% 0.40x $100 -
S&T Bank 0.05% 0.40x $1 -
Mid Penn Bank 0.05% 0.40x $1 -
Bucks County Bank 0.05% 0.40x $100 -
Reliance Savings Bank 0.05% 0.40x $5,000 -
First Commonwealth Bank 0.05% 0.40x $1 -
First Northern Bank and Trust Company 0.05% 0.40x $1 -
Malvern Federal Savings Bank 0.05% 0.40x $200 -
The Ephrata National Bank 0.05% 0.40x $1 -
The Huntington National Bank 0.05% 0.40x $1 -
Standard Bank, PaSB 0.05% 0.40x $100 -
Farmers and Merchants Trust Company of Chambersburg 0.05% 0.40x $1,000 -
Prudential Savings Bank 0.05% 0.40x $100 -
Jim Thorpe Neighborhood Bank 0.05% 0.40x $2,500 -
Wayne Bank 0.05% 0.40x $50 -
The Home Savings and Loan Company of Youngstown, Ohio 0.05% 0.40x $25,000 -
Citizens & Northern Bank 0.05% 0.40x $1 -
Firstrust Savings Bank 0.05% 0.40x $1 -
First-Citizens Bank & Trust Company 0.05% 0.40x $1 -
Jersey Shore State Bank 0.05% 0.40x $5,000 -
Phoenixville Federal Bank and Trust 0.05% 0.40x $2,500 -
First Columbia Bank & Trust Co. 0.05% 0.40x $25,000 -
Unity Bank 0.05% 0.40x $100 -
Jonestown Bank and Trust Company, of Jonestown, Pennsylvania 0.05% 0.40x $25,000 -
The Luzerne Bank 0.05% 0.40x $5 -
The Andover Bank 0.05% 0.40x $1 -
KeyBank National Association 0.05% 0.40x $10,000 -
Northwest Bank 0.05% 0.40x $25 -
The Provident Bank 0.05% 0.40x $50 -
York Traditions Bank 0.05% 0.40x $1 -
Union Community Bank 0.05% 0.40x $100 -
First National Bank of Pennsylvania 0.04% 0.32x $1 -
FNB Bank, National Association 0.04% 0.32x $10,000 -
Bucks County Bank 0.04% 0.32x $1,000 -
The Farmers National Bank of Canfield 0.04% 0.32x $100 -
KeyBank National Association 0.04% 0.32x $2,500 -
The Farmers National Bank of Emlenton 0.03% 0.24x $2,500 -
Manufacturers and Traders Trust Company 0.03% 0.24x $2,500 -
First Commonwealth Bank 0.03% 0.24x $10,000 -
The Mars National Bank 0.03% 0.24x $25 -
MB Financial Bank, National Association 0.03% 0.24x $2,500 -
Bank of America, National Association 0.03% 0.24x $1 -
CFSBANK 0.03% 0.24x $50 -
FNCB Bank 0.03% 0.24x $300 -
Santander Bank, N.A. 0.03% 0.24x $25 -
Community Bank, National Association 0.03% 0.24x $1,000 -
First Columbia Bank & Trust Co. 0.03% 0.24x $1,000 -
The Home Savings and Loan Company of Youngstown, Ohio 0.03% 0.24x $50 -
Allegheny Valley Bank of Pittsburgh 0.03% 0.24x $50 -
Wilmington Savings Fund Society, FSB 0.03% 0.24x $1 -
PNC Bank, National Association 0.03% 0.24x $1 -
Wells Fargo Bank, National Association 0.03% 0.24x $1 -
NBT Bank, National Association 0.03% 0.24x $1,000 -
The Farmers National Bank of Emlenton 0.03% 0.20x $25 -
Manufacturers and Traders Trust Company 0.02% 0.16x $1 -
The Luzerne Bank 0.02% 0.16x $1 -
First Commonwealth Bank 0.02% 0.16x $1 -
Reliance Savings Bank 0.02% 0.16x $1 -
KeyBank National Association 0.02% 0.16x $2,500 -
Jonestown Bank and Trust Company, of Jonestown, Pennsylvania 0.02% 0.16x $2,500 -
The Huntington National Bank 0.02% 0.16x $2,500 -
FNB Bank, National Association 0.02% 0.16x $100 -
Jersey Shore State Bank 0.02% 0.16x $1 -
Fulton Bank, National Association 0.02% 0.16x $100 -
Citizens Bank of Pennsylvania 0.01% 0.08x $2,500 -
The Home Savings and Loan Company of Youngstown, Ohio 0.01% 0.08x $10,000 -
First National Bank of Pennsylvania 0.01% 0.08x $2,500 -
Bank of America, National Association 0.01% 0.08x $1 -
PNC Bank, National Association 0.01% 0.08x $2,500 -
Jonestown Bank and Trust Company, of Jonestown, Pennsylvania 0.01% 0.08x $100 -
Jersey Shore State Bank 0.01% 0.08x $5 -
MB Financial Bank, National Association 0.01% 0.08x $2,500 -
Wells Fargo Bank, National Association 0.01% 0.08x $1 -
Northwest Bank 0.01% 0.08x $25 -
Wilmington Savings Fund Society, FSB 0.01% 0.08x $1 -


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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.

Input the numbers

  • 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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