Best Local Bank Savings and Money Market Rates in Dallas, Texas, TX June 14, 2025

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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!

Dallas, TX - June 14, 2025

Savings Account National Average Rate: 0.45% ^?

Banks	APY	MIN
Texas Capital Bank Midway Branch	5.10%	$0	Learn More
6CellBattery \| Aug 26, 2023 I have no issues with Bask Bank nor Texas Capital Bank. They provide good apy on savings and CD's, bank to keep funds secured so yes they do have strict security measures but if you don't like it than go ... Read More Reviews (2)
State Bank Of Texas Irving Branch	4.65%	$100,000	Learn More
High Rate Jumbo Money Market Account. Rate History: 5.22% → 4.65%
Maricia \| Oct 5, 2023 You need to specifically indicate what you are applying your money to when you take out an account here. You could make a mistake and put your money on a lesser rate product than what's advertised. Other... Read More Reviews (11)
Citibank, National Association Las Colinas Employee Financial Cente Branch	4.35% 0.20%	$0 $1	Learn More
Promotional rate for 3 months up to $11,000. Requires $25,000 in new deposits within 10 days of registration. After 3 month promotional period, rate reverts to between 0.03% and 0.12%. Rate History: 5.00% → 4.75% → 5.00% → 4.50% → 4.35%
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (22)
Comerica Bank Highway 57n-Mansfield Branch	4.25%	$1	Learn More
Rate History: 4.50% → 4.25%
Cory,Baldwin \| Oct 18, 2016 IF the Cd's our that high then way i'm i the last to find out what The apys are. Read More Reviews (1)
Beal Bank Beal Bank, Ssb Branch	3.75%	$500	Learn More Add Review
Rate History: 4.25% → 3.75%
Truist Bank Colleyville Branch	3.66% 0.01%	$0 $1	Learn More
Rate History: 4.00% → 3.65% → 3.66%
Customer \| Jul 28, 2022 Not at all happy with Truist compared to BB+T. New transaction policy makes them painfully slow. Paying .01 % interest on money market accounts, 13 week T Bill's are around $2.5%.I hope that they are enj... Read More Reviews (6)
Capital One, National Association Vandergriff Plaza Branch	3.60%	$1	Learn More
Rate History: 4.10% → 4.00% → 3.90% → 3.80% → 3.60%
highstream \| 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 Reviews (16)
Regions Bank Mansfield Branch	3.50% 1.50%	$10,000 $0	Learn More Add Review
Beal Bank Beal Bank, Ssb Branch	3.50% 3.25%	$25,000 $1,000	Learn More Add Review
Rate History: 4.00% → 3.50%
U.s. Bank National Association Dallas Parkway Branch	3.50% 0.05%	$25,000 $1	Learn More
Rate History: 4.10% → 3.50%
Ugg \| 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 Reviews (6)
Texas Brand Bank Ennis Branch	3.50% 2.50% 2.40%	$100,000 $25,000 $1,000	Learn More Add Review
Woodforest National Bank 0722 Randol Tom Thumb Branch	3.25% 2.25% 1.75% 1.25% 0.35%	$500,000 $250,000 $100,000 $1 $0	Learn More
Rate History: 4.00% → 3.75% → 3.50% → 3.25%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
Nexbank Preston Center Branch	3.25% 2.25%	$100,000 $1,000	Learn More
Ange \| Aug 20, 2019 Very corrupt, disorganized company. Associated with Dovenmuehle and or the same company. Extremely poor ratings all over the internet. Should be sued and closed down. If I could give it -10 stars, that wo... Read More Reviews (2)
Bank Of Hope Dallas Branch	3.05%	$1,000	Learn More
NORTY FLATZ \| Dec 3, 2019 Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future. Read More Reviews (1)
Southside Bank Arlington Banking Center Branch	3.04% 2.12% 1.11% 1.00% 0.75% 0.65% 0.25% 0.18% 0.10%	$5,000,000 $3,000,000 $500,000 $250,000 $100,000 $75,000 $50,000 $20,000 $0	Learn More Add Review
Bank Of Whittier, National Association Richardson Branch	2.60%	$250	Learn More Add Review
Capital One, National Association Vandergriff Plaza Branch	2.50%	$1	Learn More
highstream \| 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 Reviews (16)
Harmony Bank Ennis Branch	2.25%	$0	Learn More Add Review
Frost Bank Southlake Branch	2.05% 2.00%	$50,000 $0	Learn More Add Review
Zions Bancorporation, N.a. North Irving Branch	2.02% 1.71% 1.51% 0.80%	$500,000 $250,000 $100,000 $5,000	Learn More Add Review
Washington Federal Bank Plano Branch	2.00% 1.50% 0.30% 0.15%	$500,000 $90,000 $15,000 $1,000	Learn More
jim \| 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 Reviews (2)
Nexbank Preston Center Branch	1.50%	$0	Learn More
Ange \| Aug 20, 2019 Very corrupt, disorganized company. Associated with Dovenmuehle and or the same company. Extremely poor ratings all over the internet. Should be sued and closed down. If I could give it -10 stars, that wo... Read More Reviews (2)
Zions Bancorporation, N.a. North Irving Branch	1.46% 0.70%	$100,000 $1,000	Learn More Add Review
Rate History: 2.02% → 1.46%
Southside Bank Arlington Banking Center Branch	1.41% 1.26% 0.90% 0.60% 0.40% 0.30% 0.20%	$250,000 $100,000 $50,000 $25,000 $10,000 $2,500 $0	Learn More Add Review
Rate History: 1.00% → 1.41%
Bokf, National Association Grapevine Branch	1.25% 1.00% 0.85% 0.75%	$250,000 $100,000 $50,000 $25,000	Learn More
Rate History: 1.00% → 1.50% → 1.25%
Aku \| May 29, 2020 Dua Read More Reviews (1)
T Bank, National Association T Bank, National Association Branch	1.25% 0.80% 0.75%	$25,000 $10,000 $2,500	Learn More Add Review
Wells Fargo Bank, National Association Southlake Branch	1.01% 0.01%	$100,000 $1	Learn More
Rate History: 1.01% → 1.02% → 1.01%
Thy King \| 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 Reviews (7)
Southwestern National Bank Plano Branch	0.75%	$25,000	Learn More Add Review
Stockmans Bank Addison Branch	0.55%	$25,000	Learn More Add Review
Bokf, National Association Grapevine Branch	0.50%	$25,000	Learn More
Rate History: 0.55% → 0.50%
Aku \| May 29, 2020 Dua Read More Reviews (1)
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	0.50%	$100	Learn More Add Review
Stockmans Bank Addison Branch	0.50%	$2,500	Learn More Add Review
Frost Bank Southlake Branch	0.50%	$0	Learn More Add Review
Rate History: 1.00% → 0.90% → 0.70% → 0.50%
Bank Of Desoto, National Association Bank Of Desoto, National Association Branch	0.50%	$25,000	Learn More
Splashgirl1961@gmail.com \| Jan 8, 2024 Awful, rude unprofessional! Beware Read More Reviews (1)
Southwestern National Bank Plano Branch	0.45%	$2,500	Learn More Add Review
United Texas Bank United Texas Bank Branch	0.45%	$2,500	Learn More Add Review
American Bank Of Commerce Addison Branch	0.40%	$2,500	Learn More Add Review
First United Bank And Trust Company Frisco/Lebanon Branch	0.40%	$25,000	Learn More Add Review
Bank Of Desoto, National Association Bank Of Desoto, National Association Branch	0.40%	$2,500	Learn More
Splashgirl1961@gmail.com \| Jan 8, 2024 Awful, rude unprofessional! Beware Read More Reviews (1)
Woodforest National Bank 0722 Randol Tom Thumb Branch	0.40% 0.25%	$10,000 $0	Learn More
Rate History: 1.00% → 0.50% → 0.40%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
First National Bank First National Bank Mortgage Branch	0.35%	$25,000	Learn More Add Review
Ciera Bank Flower Mound Branch	0.35%	$10,000	Learn More Add Review
First United Bank And Trust Company Frisco/Lebanon Branch	0.35%	$10,000	Learn More Add Review
One World Bank One World Bank Branch	0.35%	$25,000	Learn More Add Review
Homebank Texas Buckner Branch	0.30%	$2,500	Learn More Add Review
First United Bank And Trust Company Frisco/Lebanon Branch	0.30%	$2,500	Learn More Add Review
American First National Bank Arlington Branch	0.30%	$25,000	Learn More Add Review
Ennis State Bank Trinity Capital Bank Of Texas, A Branch Of Ennis State Bank Branch	0.30%	$2,500	Learn More Add Review
Shinhan Bank America Dallas Branch	0.30%	$25,000	Learn More
Lori Kroko \| Mar 10, 2021 I think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $3... Read More Reviews (1)
Southwestern National Bank Plano Branch	0.28%	$10,000	Learn More Add Review
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	0.25%	$25,000	Learn More Add Review
Cathay Bank Cathay Bank Branch	0.25% 0.20%	$1,000,000 $500,000	Learn More Add Review
Ciera Bank Flower Mound Branch	0.25%	$2,500	Learn More Add Review
American First National Bank Arlington Branch	0.25%	$10,000	Learn More Add Review
Golden Bank, National Association Richardson Branch	0.25%	$2,500	Learn More Add Review
U.s. Bank National Association Dallas Parkway Branch	0.25%	$25,000	Learn More
Rate History: 4.25% → 4.16% → 4.25% → 3.75% → 0.25%
Ugg \| 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 Reviews (6)
Nbh Bank Dallas-Mckinney Branch	0.24%	$25,000	Learn More Add Review
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	0.20%	$10,000	Learn More Add Review
Commercial State Bank Wilmer Branch	0.20%	$2,500	Learn More Add Review
Pinnacle Bank Northeast Branch	0.20%	$2,500	Learn More Add Review
City Bank Mckinnon Street Branch	0.20%	$25,000	Learn More Add Review
First National Bank In Frankfort	0.20%	$0	Learn More Add Review
American National Bank & Trust Flower Mound Branch	0.20%	$25,000	Learn More Add Review
American Bank Of Commerce Addison Branch	0.20%	$10,000	Learn More Add Review
Plainscapital Bank Pcb Colleyville Branch	0.20%	$25,000	Learn More Add Review
Ciera Bank Flower Mound Branch	0.20%	$2,500	Learn More Add Review
Inwood National Bank Western Bank And Trust Branch	0.20%	$2,500	Learn More Add Review
American First National Bank Arlington Branch	0.20%	$2,500	Learn More Add Review
Southwestern National Bank Plano Branch	0.20%	$2,500	Learn More Add Review
Shinhan Bank America Dallas Branch	0.20%	$2,500	Learn More
Lori Kroko \| Mar 10, 2021 I think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $3... Read More Reviews (1)
One World Bank One World Bank Branch	0.20%	$2,500	Learn More Add Review
Zions Bancorporation, N.a. North Irving Branch	0.19% 0.16%	$100,000 $0	Learn More Add Review
Liberty Capital Bank Liberty Capital Bank Branch	0.15%	$25,000	Learn More
elizabethcoker22@gmail.com \| Mar 6, 2021 My family lives in Texas wanted to open and account with liberty bank Texas is name on Instagram is @obilo 10 10 u refuse him and stole his information cause he is black .plsss get it check out thank u Read More Reviews (1)
First National Bank First National Bank Mortgage Branch	0.15%	$10,000	Learn More Add Review
City Bank Mckinnon Street Branch	0.15%	$2,500	Learn More Add Review
Prosperity Bank Arlington Branch	0.15%	$2,500	Learn More
Jettdawg \| Feb 17, 2022 Worst bank ever. Buying everyone and screwing them up. Read More Reviews (6)
American Bank Of Commerce Addison Branch	0.15%	$2,500	Learn More Add Review
Plainscapital Bank Pcb Colleyville Branch	0.15%	$10,000	Learn More Add Review
Umb Bank, National Association Umb Bank, National Association Branch	0.15%	$25,000	Learn More
RS \| Jun 1, 2020 UMB does not honor the rate posted here! Read More Reviews (2)
Guaranty Bank & Trust, N.a. Preston State Dallas Branch	0.15%	$2,500	Learn More Add Review
American First National Bank Arlington Branch	0.15%	$2,500	Learn More Add Review
Commercial Bank Of Texas, National Association Bedford Branch	0.15%	$2,500	Learn More Add Review
Texas Bank And Trust Company Texas Bank And Trust Company Branch	0.15%	$2,500	Learn More Add Review
Golden Bank, National Association Richardson Branch	0.15%	$10,000	Learn More Add Review
Texas Security Bank Metrocrest Branch	0.15%	$10,000	Learn More Add Review
Affiliated Bank, National Association Affiliated Bank Branch	0.15%	$2,500	Learn More
Rhepler \| Aug 4, 2022 Great CD rates & service Read More Reviews (1)
One World Bank One World Bank Branch	0.15%	$2,500	Learn More Add Review
Great Southern Bank Great Southern Bank Branch	0.12%	$25,000	Learn More Add Review
Pegasus Bank Pegasus Bank Branch	0.11%	$25,000	Learn More
Peggy Sterioti \| Jan 26, 2022 You all Have Been Taking Peggy Wood Sterioti's Money for years . 2007-2022 Read More Reviews (1)
Tbk Bank, Ssb Tbk Bank, Ssb Branch	0.10%	$25	Learn More
Rate History: 0.15% → 0.10%
fiddler \| Jun 30, 2019 agree....finally did get thru though Read More Reviews (2)
Great Southern Bank Great Southern Bank Branch	0.10%	$100	Learn More Add Review
Hanmi Bank Arlington Branch	0.10%	$2,500	Learn More Add Review
Washington Federal Bank Plano Branch	0.10%	$100	Learn More
jim \| 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 Reviews (2)
First-citizens Bank & Trust Company Dallas Lake Side Village Branch	0.10% 0.07%	$100,000 $25,000	Learn More
MrBond \| 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 Reviews (3)
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	0.10%	$2,500	Learn More Add Review
Bokf, National Association Grapevine Branch	0.10%	$0	Learn More
Rate History: 0.20% → 0.10%
Aku \| May 29, 2020 Dua Read More Reviews (1)
Liberty Capital Bank Liberty Capital Bank Branch	0.10%	$2,500	Learn More
elizabethcoker22@gmail.com \| Mar 6, 2021 My family lives in Texas wanted to open and account with liberty bank Texas is name on Instagram is @obilo 10 10 u refuse him and stole his information cause he is black .plsss get it check out thank u Read More Reviews (1)
Homebank Texas Buckner Branch	0.10%	$2,500	Learn More Add Review
East West Bank Harry Hines Branch	0.10%	$2,500	Learn More
Bauhinia C \| Mar 15, 2023 Oh Natty natty natty, haha the fact you need to take out (probably a second) loan for $160,000 on a $625,000 sends up all kinds of red flags. The bank was right to run away from YOU dear hahaha. Read More Reviews (2)
First National Bank First National Bank Mortgage Branch	0.10%	$2,500	Learn More Add Review
City Bank Mckinnon Street Branch	0.10%	$2,500	Learn More Add Review
Bank 7 Dallas Branch	0.10%	$10,000	Learn More
Randall Stewart \| Mar 24, 2022 I visited this bank yesterday, 3/23 and this rate 0.85% was NOT offered. Read More Reviews (1)
Interbank Hbank Texas Branch	0.10%	$2,500	Learn More
Ernie Bramlett \| Sep 30, 2015 Stephenville,Tx branch is very professional, helpful and possibly the best bank I have encountered. If you move to this region, consider this institution. You will be pleasantly satisfied. I in no way... Read More Reviews (1)
First National Bank Texas Cooper Banking Center - Rc 445 Branch	0.10%	$25,000	Learn More Add Review
Herring Bank Grand Prairie Branch	0.10%	$2,500	Learn More
wello50 \| Jul 1, 2021 What day of the month do you report to the credit bureaus Read More Reviews (1)
Vista Bank Dallas Loan Prod Office Branch	0.10%	$25,000	Learn More Add Review
Plainscapital Bank Pcb Colleyville Branch	0.10%	$2,500	Learn More Add Review
North Dallas Bank & Trust Co. Irving Branch	0.10%	$2,500	Learn More Add Review
Colonial Savings, F.a. Colleyville Branch	0.10%	$2,500	Learn More
joann.burbridge@yahoo.com \| Mar 16, 2020 What is the current 30 year mortgage rate? Read More Reviews (1)
Inwood National Bank Western Bank And Trust Branch	0.10%	$2,500	Learn More Add Review
Umb Bank, National Association Umb Bank, National Association Branch	0.10%	$10,000	Learn More
RS \| Jun 1, 2020 UMB does not honor the rate posted here! Read More Reviews (2)
Veritex Community Bank Arlington Branch	0.10%	$2,500	Learn More Add Review
Guaranty Bank & Trust, N.a. Preston State Dallas Branch	0.10%	$2,500	Learn More Add Review
Commercial Bank Of Texas, National Association Bedford Branch	0.10%	$10,000	Learn More Add Review
Texas Bank And Trust Company Texas Bank And Trust Company Branch	0.10%	$2,500	Learn More Add Review
Origin Bank Las Colinas Banking Center Branch	0.10%	$2,500	Learn More
Ralph \| Nov 26, 2019 They might be covered but they do little to safeguard your money. I was hacked, the hackers posed as bank employees accessed my account and made payments to fraudulent accounts. I had to explain to them wh... Read More Reviews (1)
Golden Bank, National Association Richardson Branch	0.10%	$2,500	Learn More Add Review
Bank Of Desoto, National Association Bank Of Desoto, National Association Branch	0.10%	$2,500	Learn More
Splashgirl1961@gmail.com \| Jan 8, 2024 Awful, rude unprofessional! Beware Read More Reviews (1)
Ennis State Bank Trinity Capital Bank Of Texas, A Branch Of Ennis State Bank Branch	0.10%	$2,500	Learn More Add Review
Wallis Bank Dallas Branch	0.10%	$2,500	Learn More Add Review
Affiliated Bank, National Association Affiliated Bank Branch	0.10%	$2,500	Learn More
Rhepler \| Aug 4, 2022 Great CD rates & service Read More Reviews (1)
Lakeside Bank Lakeside National Bank Branch	0.10%	$2,500	Learn More Add Review
First Financial Bank, National Association First Financial Southlake Branch	0.10%	$2,500	Learn More Add Review
Nbh Bank Dallas-Mckinney Branch	0.09%	$2,500	Learn More Add Review
First National Bank Texas Cooper Banking Center - Rc 445 Branch	0.08%	$2,500	Learn More Add Review
American National Bank & Trust Flower Mound Branch	0.08%	$2,500	Learn More Add Review
Bank Of The West William D. Tate Branch	0.08%	$10,000	Learn More Add Review
Umb Bank, National Association Umb Bank, National Association Branch	0.08%	$2,500	Learn More
RS \| Jun 1, 2020 UMB does not honor the rate posted here! Read More Reviews (2)
Great Southern Bank Great Southern Bank Branch	0.07%	$10,000	Learn More Add Review
Pegasus Bank Pegasus Bank Branch	0.07%	$2,500	Learn More
Peggy Sterioti \| Jan 26, 2022 You all Have Been Taking Peggy Wood Sterioti's Money for years . 2007-2022 Read More Reviews (1)
Cathay Bank Cathay Bank Branch	0.05%	$50,000	Learn More Add Review
Tbk Bank, Ssb Tbk Bank, Ssb Branch	0.05% 0.01%	$35,000 $0	Learn More
Rate History: 1.00% → 0.10% → 0.05%
fiddler \| Jun 30, 2019 agree....finally did get thru though Read More Reviews (2)
Benchmark Bank Benchmark Bank Branch	0.05%	$2,500	Learn More Add Review
Nbh Bank Dallas-Mckinney Branch	0.05%	$2,500	Learn More Add Review
East West Bank Harry Hines Branch	0.05%	$2,500	Learn More
Bauhinia C \| Mar 15, 2023 Oh Natty natty natty, haha the fact you need to take out (probably a second) loan for $160,000 on a $625,000 sends up all kinds of red flags. The bank was right to run away from YOU dear hahaha. Read More Reviews (2)
Hanmi Bank Arlington Branch	0.05%	$2,500	Learn More Add Review
Bank 7 Dallas Branch	0.05%	$100	Learn More
Randall Stewart \| Mar 24, 2022 I visited this bank yesterday, 3/23 and this rate 0.85% was NOT offered. Read More Reviews (1)
Interbank Hbank Texas Branch	0.05%	$2,500	Learn More
Ernie Bramlett \| Sep 30, 2015 Stephenville,Tx branch is very professional, helpful and possibly the best bank I have encountered. If you move to this region, consider this institution. You will be pleasantly satisfied. I in no way... Read More Reviews (1)
First National Bank Texas Cooper Banking Center - Rc 445 Branch	0.05%	$2,500	Learn More Add Review
Vista Bank Dallas Loan Prod Office Branch	0.05%	$2,500	Learn More Add Review
American National Bank & Trust Flower Mound Branch	0.05%	$2,500	Learn More Add Review
Bank Ozk Southlake Branch	0.05%	$0	Learn More
HB \| Sep 12, 2023 Can not cash a check at the branch on Chenal, because I did not have an appointment for the lobby. Could not use the Window service, it closes at 2pm on a Friday. I have a business account and am finding... Read More Reviews (11)
Plainscapital Bank Pcb Colleyville Branch	0.05%	$2,500	Learn More Add Review
Bank Of The West William D. Tate Branch	0.05%	$2,500	Learn More Add Review
Community National Bank & Trust Of Texas Red Oak Branch	0.05%	$10,000	Learn More Add Review
First United Bank And Trust Company Frisco/Lebanon Branch	0.05%	$2,500	Learn More Add Review
First Guaranty Bank Garland Branch	0.05%	$2,500	Learn More Add Review
Colonial Savings, F.a. Colleyville Branch	0.05%	$2,500	Learn More
joann.burbridge@yahoo.com \| Mar 16, 2020 What is the current 30 year mortgage rate? Read More Reviews (1)
The American National Bank Of Texas Mansfield Branch	0.05%	$2,500	Learn More Add Review
Umb Bank, National Association Umb Bank, National Association Branch	0.05%	$2,500	Learn More
RS \| Jun 1, 2020 UMB does not honor the rate posted here! Read More Reviews (2)
Veritex Community Bank Arlington Branch	0.05%	$10,000	Learn More Add Review
Commercial Bank Of Texas, National Association Bedford Branch	0.05%	$2,500	Learn More Add Review
Prosperity Bank Arlington Branch	0.05%	$2,500	Learn More
Jettdawg \| Feb 17, 2022 Worst bank ever. Buying everyone and screwing them up. Read More Reviews (6)
Texas Security Bank Metrocrest Branch	0.05%	$2,500	Learn More Add Review
First Financial Bank, National Association First Financial Southlake Branch	0.05%	$10,000	Learn More Add Review
Community National Bank & Trust Of Texas Red Oak Branch	0.04%	$2,500	Learn More Add Review
Bank Of America, National Association Bowen Road Branch	0.04%	$2,500	Learn More
Treasure \| 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 Reviews (11)
Pavillion Bank Pavillion Bank Branch	0.03%	$2,500	Learn More Add Review
Lakeside Bank Lakeside National Bank Branch	0.03%	$2,500	Learn More Add Review
Comerica Bank Highway 57n-Mansfield Branch	0.02%	$1	Learn More
Cory,Baldwin \| Oct 18, 2016 IF the Cd's our that high then way i'm i the last to find out what The apys are. Read More Reviews (1)
Great Southern Bank Great Southern Bank Branch	0.02%	$2,500	Learn More Add Review
First Financial Bank, National Association First Financial Southlake Branch	0.02%	$2,500	Learn More Add Review
Community National Bank & Trust Of Texas Red Oak Branch	0.02%	$2,500	Learn More Add Review
Jpmorgan Chase Bank, National Association Brown Trail Branch	0.02%	$25,000	Learn More
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (25)
Regions Bank Mansfield Branch	0.01%	$0	Learn More Add Review
Worthington Bank Colleyville Branch	0.01%	$300	Learn More Add Review
Comerica Bank Highway 57n-Mansfield Branch	0.01%	$1	Learn More
Cory,Baldwin \| Oct 18, 2016 IF the Cd's our that high then way i'm i the last to find out what The apys are. Read More Reviews (1)
First Financial Bank, National Association First Financial Southlake Branch	0.01%	$2,500	Learn More Add Review
Citizens National Bank Of Texas Citizens National Bank - 287 Branch	0.00%	$2,500	Learn More Add Review

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.

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Branches Info around Dallas, TX - June 14, 2025

Branch	Street	City	State
Texas Capital Bank Midway Branch	14131 Midway Road, Suite 100	Addison	TX
State Bank of Texas Irving Branch	605 W. Airport Freeway	Irving	TX
Citibank, National Association Las Colinas Employee Financial Cente Branch	6460 Colinas Boulevard	Irving	TX
Comerica Bank Highway 57n-Mansfield Branch	2901 Highway 157 N	Mansfield	TX
XD Bank Beal Bank, Ssb Branch	6000 Legacy Drive	Plano	TX
Truist Bank Colleyville Branch	1201 Church Street	Colleyville	TX
Capital One, National Association Vandergriff Plaza Branch	200 N. Mesquite Street	Arlington	TX
Regions Bank Mansfield Branch	110 West Debbie Lane	Mansfield	TX
XD Bank Beal Bank, Ssb Branch	6000 Legacy Drive	Plano	TX
U.S. Bank National Association Dallas Parkway Branch	14241 Dallas Parkway	Dallas	TX
Harmony Bank Ennis Branch	909 South Clay Street	Ennis	TX
XD Bank Beal Bank, Ssb Branch	6000 Legacy Drive	Plano	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
NexBank Preston Center Branch	6121 Luther Lane	Dallas	TX
Bank of Hope Dallas Branch	2237 Royal Ln	Dallas	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Bank of Whittier, National Association Richardson Branch	1431 East Spring Valley Road	Richardson	TX
Capital One, National Association Vandergriff Plaza Branch	200 N. Mesquite Street	Arlington	TX
Harmony Bank Ennis Branch	909 South Clay Street	Ennis	TX
Harmony Bank Ennis Branch	909 South Clay Street	Ennis	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
Harmony Bank Ennis Branch	909 South Clay Street	Ennis	TX
NexBank Preston Center Branch	6121 Luther Lane	Dallas	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Frost Bank Southlake Branch	641 East Southlake Blvd	Southlake	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Washington Federal Bank Plano Branch	5900 Chapel Hill Blvd.	Plano	TX
Frost Bank Southlake Branch	641 East Southlake Blvd	Southlake	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Regions Bank Mansfield Branch	110 West Debbie Lane	Mansfield	TX
Washington Federal Bank Plano Branch	5900 Chapel Hill Blvd.	Plano	TX
NexBank Preston Center Branch	6121 Luther Lane	Dallas	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
BOKF, National Association Grapevine Branch	2250 State Highway 114 West	Grapevine	TX
T Bank, National Association T Bank, National Association Branch	16200 Dallas Parkway, Suite 190	Dallas	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Wells Fargo Bank, National Association Southlake Branch	222 West Southlake Boulevard	Southlake	TX
BOKF, National Association Grapevine Branch	2250 State Highway 114 West	Grapevine	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
BOKF, National Association Grapevine Branch	2250 State Highway 114 West	Grapevine	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
T Bank, National Association T Bank, National Association Branch	16200 Dallas Parkway, Suite 190	Dallas	TX
BOKF, National Association Grapevine Branch	2250 State Highway 114 West	Grapevine	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
T Bank, National Association T Bank, National Association Branch	16200 Dallas Parkway, Suite 190	Dallas	TX
Southwestern National Bank Plano Branch	2304 Coit Road, Suite #600	Plano	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Cattlemens Bank Addison Branch	16400 N. Dallas Pkwy	Dallas	TX
BOKF, National Association Grapevine Branch	2250 State Highway 114 West	Grapevine	TX
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	2595 Preston Rd, Bldg 100	Frisco	TX
Cattlemens Bank Addison Branch	16400 N. Dallas Pkwy	Dallas	TX
Frost Bank Southlake Branch	641 East Southlake Blvd	Southlake	TX
Bank of DeSoto, National Association Bank Of Desoto, National Association Branch	2011 North Hampton Road	De Soto	TX
Southwestern National Bank Plano Branch	2304 Coit Road, Suite #600	Plano	TX
United Texas Bank United Texas Bank Branch	13101 Preston Road, Suite 100	Dallas	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
American Bank of Commerce Addison Branch	5050 Quorum, Suite 100	Dallas	TX
First United Bank and Trust Company Frisco/Lebanon Branch	Lebanon And Dallas Parkway	Frisco	TX
Bank of DeSoto, National Association Bank Of Desoto, National Association Branch	2011 North Hampton Road	De Soto	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
First National Bank First National Bank Mortgage Branch	402 North Carroll	Southlake	TX
Ciera Bank Flower Mound Branch	1801 Cross Timbers	Flower Mound	TX
First United Bank and Trust Company Frisco/Lebanon Branch	Lebanon And Dallas Parkway	Frisco	TX
One World Bank One World Bank Branch	2449 Walnut Hill Lane	Dallas	TX
Washington Federal Bank Plano Branch	5900 Chapel Hill Blvd.	Plano	TX
HomeBank Texas Buckner Branch	3637 North Buckner Boulevard	Dallas	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
First United Bank and Trust Company Frisco/Lebanon Branch	Lebanon And Dallas Parkway	Frisco	TX
American First National Bank Arlington Branch	2200 New York Ave.	Arlington	TX
Ennis State Bank Trinity Capital Bank Of Texas, A Branch Of Ennis State Bank Branch	1301 N. Riverfront Blvd	Dallas	TX
Shinhan Bank America Dallas Branch	2174 Royal Lane	Dallas	TX
Southwestern National Bank Plano Branch	2304 Coit Road, Suite #600	Plano	TX
Woodforest National Bank 0722 Randol Tom Thumb Branch	1701 Randol Mill Road	Arlington	TX
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	2595 Preston Rd, Bldg 100	Frisco	TX
Cathay Bank Cathay Bank Branch	4100 Legacy Drive Suite 403	Plano	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Ciera Bank Flower Mound Branch	1801 Cross Timbers	Flower Mound	TX
American First National Bank Arlington Branch	2200 New York Ave.	Arlington	TX
Golden Bank, National Association Richardson Branch	300 E. Terrace Drive, Suite 309	Richardson	TX
U.S. Bank National Association Dallas Parkway Branch	14241 Dallas Parkway	Dallas	TX
NBH Bank Dallas-Mckinney Branch	3102 Maple Ave	Dallas	TX
Cathay Bank Cathay Bank Branch	4100 Legacy Drive Suite 403	Plano	TX
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	2595 Preston Rd, Bldg 100	Frisco	TX
Commercial State Bank Wilmer Branch	421 East Beltline Rd.	Wilmer	TX
Pinnacle Bank Northeast Branch	4607 Colleyville Boulevard	Colleyville	TX
City Bank Mckinnon Street Branch	2525 Mckinnon Street, Suite 100	Dallas	TX
American National Bank & Trust Flower Mound Branch	1201 Cross Timbers Road	Flower Mound	TX
American Bank of Commerce Addison Branch	5050 Quorum, Suite 100	Dallas	TX
PlainsCapital Bank Pcb Colleyville Branch	6100 Colleyville Blvd., Suite 170	Colleyville	TX
Ciera Bank Flower Mound Branch	1801 Cross Timbers	Flower Mound	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Inwood National Bank Western Bank And Trust Branch	219 East Camp Wisdom Road	Duncanville	TX
American First National Bank Arlington Branch	2200 New York Ave.	Arlington	TX
Southwestern National Bank Plano Branch	2304 Coit Road, Suite #600	Plano	TX
Shinhan Bank America Dallas Branch	2174 Royal Lane	Dallas	TX
One World Bank One World Bank Branch	2449 Walnut Hill Lane	Dallas	TX
Citibank, National Association Las Colinas Employee Financial Cente Branch	6460 Colinas Boulevard	Irving	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
Zions Bank North Irving Branch	8665 Cypress Waters Blvd.	Irving	TX
Liberty Capital Bank Liberty Capital Bank Branch	5055 Keller Springs Road, Suite 120	Addison	TX
Washington Federal Bank Plano Branch	5900 Chapel Hill Blvd.	Plano	TX
First National Bank First National Bank Mortgage Branch	402 North Carroll	Southlake	TX
City Bank Mckinnon Street Branch	2525 Mckinnon Street, Suite 100	Dallas	TX
Prosperity Bank Arlington Branch	4110 South Bowen Road	Arlington	TX
American Bank of Commerce Addison Branch	5050 Quorum, Suite 100	Dallas	TX
PlainsCapital Bank Pcb Colleyville Branch	6100 Colleyville Blvd., Suite 170	Colleyville	TX
UMB Bank, National Association Umb Bank, National Association Branch	2517 Midway Road	Carrollton	TX
Guaranty Bank & Trust, N.A. Preston State Dallas Branch	16980 N. Dallas Parkway, Suite 110	Dallas	TX
American First National Bank Arlington Branch	2200 New York Ave.	Arlington	TX
Commercial Bank of Texas, National Association Bedford Branch	1716 Forest Ridge	Bedford	TX
Texas Bank and Trust Company Texas Bank And Trust Company Branch	2801 Network Boulevard	Frisco	TX
Golden Bank, National Association Richardson Branch	300 E. Terrace Drive, Suite 309	Richardson	TX
Texas Security Bank Metrocrest Branch	3212 Belt Line Road	Farmers Branch	TX
Susser Bank Affiliated Bank Branch	500 Harwood Rd.	Bedford	TX
One World Bank One World Bank Branch	2449 Walnut Hill Lane	Dallas	TX
Great Southern Bank Great Southern Bank Branch	8201 Preston Road, Suite 305	Dallas	TX
Pegasus Bank Pegasus Bank Branch	4515 W. Mockingbird Lane	Dallas	TX
TBK BANK, SSB Tbk Bank, Ssb Branch	5220 Spring Valley Road, Suite 160	Dallas	TX
Great Southern Bank Great Southern Bank Branch	8201 Preston Road, Suite 305	Dallas	TX
Hanmi Bank Arlington Branch	1107 East Pioneer Parkway	Arlington	TX
Washington Federal Bank Plano Branch	5900 Chapel Hill Blvd.	Plano	TX
First-Citizens Bank & Trust Company Dallas Lake Side Village Branch	9667 N. Central Expressway	Dallas	TX
Texas Republic Bank, National Association Texas Republic Bank, National Association Branch	2595 Preston Rd, Bldg 100	Frisco	TX
BOKF, National Association Grapevine Branch	2250 State Highway 114 West	Grapevine	TX
Liberty Capital Bank Liberty Capital Bank Branch	5055 Keller Springs Road, Suite 120	Addison	TX
HomeBank Texas Buckner Branch	3637 North Buckner Boulevard	Dallas	TX
East West Bank Harry Hines Branch	2527 Royal Lane, Suite 155	Dallas	TX
First National Bank First National Bank Mortgage Branch	402 North Carroll	Southlake	TX
City Bank Mckinnon Street Branch	2525 Mckinnon Street, Suite 100	Dallas	TX
Bank 7 Dallas Branch	5080 Spectrum Drive, Ste. 123w	Addison	TX
Southside Bank Arlington Banking Center Branch	2831 West Park Row	Arlington	TX
InterBank Hbank Texas Branch	4501 William D. Tate Ave.	Grapevine	TX
First National Bank Texas Cooper Banking Center - Rc 445 Branch	5330 S. Cooper	Arlington	TX
Herring Bank Grand Prairie Branch	2317 S. Beltline Road	Grand Prairie	TX
Vista Bank Dallas Loan Prod Office Branch	325 N. St. Paul Street, Suite 3500	Dallas	TX
PlainsCapital Bank Pcb Colleyville Branch	6100 Colleyville Blvd., Suite 170	Colleyville	TX
North Dallas Bank & Trust Co. Irving Branch	7660 North Macarthur Boulevard	Irving	TX
Colonial Savings, F.A. Colleyville Branch	4900 Colleyville Blvd	Colleyville	TX
Inwood National Bank Western Bank And Trust Branch	219 East Camp Wisdom Road	Duncanville	TX
UMB Bank, National Association Umb Bank, National Association Branch	2517 Midway Road	Carrollton	TX
Veritex Community Bank Arlington Branch	3800 Matlock Road	Arlington	TX
Guaranty Bank & Trust, N.A. Preston State Dallas Branch	16980 N. Dallas Parkway, Suite 110	Dallas	TX
Commercial Bank of Texas, National Association Bedford Branch	1716 Forest Ridge	Bedford	TX
Texas Bank and Trust Company Texas Bank And Trust Company Branch	2801 Network Boulevard	Frisco	TX
Origin Bank Las Colinas Banking Center Branch	7720 North Macarthur Boulevard	Irving	TX
Golden Bank, National Association Richardson Branch	300 E. Terrace Drive, Suite 309	Richardson	TX
Bank of DeSoto, National Association Bank Of Desoto, National Association Branch	2011 North Hampton Road	De Soto	TX
Ennis State Bank Trinity Capital Bank Of Texas, A Branch Of Ennis State Bank Branch	1301 N. Riverfront Blvd	Dallas	TX
Wallis Bank Dallas Branch	11135 Harry Hines	Dallas	TX
Susser Bank Affiliated Bank Branch	500 Harwood Rd.	Bedford	TX
Lakeside Bank Lakeside National Bank Branch	2805 Ridge Road	Rockwall	TX
First Financial Bank First Financial Southlake Branch	151 West Southlake Boulevard	Southlake	TX
NBH Bank Dallas-Mckinney Branch	3102 Maple Ave	Dallas	TX
First National Bank Texas Cooper Banking Center - Rc 445 Branch	5330 S. Cooper	Arlington	TX
American National Bank & Trust Flower Mound Branch	1201 Cross Timbers Road	Flower Mound	TX
Bank of the West William D. Tate Branch	4100 William D. Tate Ave	Grapevine	TX
UMB Bank, National Association Umb Bank, National Association Branch	2517 Midway Road	Carrollton	TX
First-Citizens Bank & Trust Company Dallas Lake Side Village Branch	9667 N. Central Expressway	Dallas	TX
Great Southern Bank Great Southern Bank Branch	8201 Preston Road, Suite 305	Dallas	TX
Pegasus Bank Pegasus Bank Branch	4515 W. Mockingbird Lane	Dallas	TX
Cathay Bank Cathay Bank Branch	4100 Legacy Drive Suite 403	Plano	TX
TBK BANK, SSB Tbk Bank, Ssb Branch	5220 Spring Valley Road, Suite 160	Dallas	TX
Benchmark Bank Benchmark Bank Branch	5700 Legacy Drive Suite 10	Plano	TX
NBH Bank Dallas-Mckinney Branch	3102 Maple Ave	Dallas	TX
East West Bank Harry Hines Branch	2527 Royal Lane, Suite 155	Dallas	TX
Hanmi Bank Arlington Branch	1107 East Pioneer Parkway	Arlington	TX
Bank 7 Dallas Branch	5080 Spectrum Drive, Ste. 123w	Addison	TX
InterBank Hbank Texas Branch	4501 William D. Tate Ave.	Grapevine	TX
First National Bank Texas Cooper Banking Center - Rc 445 Branch	5330 S. Cooper	Arlington	TX
Vista Bank Dallas Loan Prod Office Branch	325 N. St. Paul Street, Suite 3500	Dallas	TX
American National Bank & Trust Flower Mound Branch	1201 Cross Timbers Road	Flower Mound	TX
Bank OZK Southlake Branch	600 West Southlake Boulevard	Southlake	TX
PlainsCapital Bank Pcb Colleyville Branch	6100 Colleyville Blvd., Suite 170	Colleyville	TX
Bank of the West William D. Tate Branch	4100 William D. Tate Ave	Grapevine	TX
Community National Bank & Trust of Texas Red Oak Branch	309 East Ovilla Road	Red Oak	TX
First United Bank and Trust Company Frisco/Lebanon Branch	Lebanon And Dallas Parkway	Frisco	TX
First Guaranty Bank Garland Branch	603 West Main Street, Suite 101	Garland	TX
Colonial Savings, F.A. Colleyville Branch	4900 Colleyville Blvd	Colleyville	TX
The American National Bank of Texas Mansfield Branch	2500 E Broad Street, Suite 100	Mansfield	TX
UMB Bank, National Association Umb Bank, National Association Branch	2517 Midway Road	Carrollton	TX
Veritex Community Bank Arlington Branch	3800 Matlock Road	Arlington	TX
Commercial Bank of Texas, National Association Bedford Branch	1716 Forest Ridge	Bedford	TX
Prosperity Bank Arlington Branch	4110 South Bowen Road	Arlington	TX
Texas Security Bank Metrocrest Branch	3212 Belt Line Road	Farmers Branch	TX
First Financial Bank First Financial Southlake Branch	151 West Southlake Boulevard	Southlake	TX
U.S. Bank National Association Dallas Parkway Branch	14241 Dallas Parkway	Dallas	TX
Community National Bank & Trust of Texas Red Oak Branch	309 East Ovilla Road	Red Oak	TX
Bank of America, National Association Bowen Road Branch	1206 South Bowen Road	Arlington	TX
Pavillion Bank Pavillion Bank Branch	1200 W Campbell Road	Richardson	TX
Lakeside Bank Lakeside National Bank Branch	2805 Ridge Road	Rockwall	TX
Comerica Bank Highway 57n-Mansfield Branch	2901 Highway 157 N	Mansfield	TX
Great Southern Bank Great Southern Bank Branch	8201 Preston Road, Suite 305	Dallas	TX
First Financial Bank First Financial Southlake Branch	151 West Southlake Boulevard	Southlake	TX
Community National Bank & Trust of Texas Red Oak Branch	309 East Ovilla Road	Red Oak	TX
JPMorgan Chase Bank, National Association Brown Trail Branch	2901 Brown Trail	Bedford	TX
Wells Fargo Bank, National Association Southlake Branch	222 West Southlake Boulevard	Southlake	TX
TBK BANK, SSB Tbk Bank, Ssb Branch	5220 Spring Valley Road, Suite 160	Dallas	TX
Regions Bank Mansfield Branch	110 West Debbie Lane	Mansfield	TX
Worthington Bank Colleyville Branch	4814 Colleyville Boulevard	Colleyville	TX
Truist Bank Colleyville Branch	1201 Church Street	Colleyville	TX
Comerica Bank Highway 57n-Mansfield Branch	2901 Highway 157 N	Mansfield	TX
First Financial Bank First Financial Southlake Branch	151 West Southlake Boulevard	Southlake	TX
Citizens National Bank of Texas Citizens National Bank - 287 Branch	1021 East Hwy 287	Midlothian	TX

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.