Best Local Bank Savings and Money Market Rates in Virginia, VA July 3, 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!

VA - July 3, 2025

Savings Account National Average Rate: 0.45% ^?

Banks	APY	MIN
First Us Bank	5.12%	$1	Learn More Add Review
Eaglebank Tysons Branch	4.40% 2.20%	$0 $100	Learn More Add Review
Presidential Bank, Fsb Arlington Branch	4.37%	$25,000	Learn More Add Review
Citibank, National Association Tysons Corner 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)
Banesco Usa	4.25%	$300	Learn More
Rate History: 4.50% → 4.40% → 4.25% → 4.00% → 4.25%
Dkplan \| Dec 27, 2022 They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More Reviews (8)
North American Savings Bank	4.10%	$10,000	Learn More
Rate History: 4.90% → 4.75% → 4.55% → 4.20% → 4.10%
A Terkowitz \| Feb 15, 2024 I have always had great experiences with short-term CDs from this bank. No delays. Read More Reviews (3)
Banesco Usa	4.00%	$300	Learn More
Rate History: 1.35% → 5.25% → 4.75% → 4.50% → 4.00%
Dkplan \| Dec 27, 2022 They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More Reviews (8)
Forbright Bank Herndon Branch	3.90%	$2,500	Learn More
Rate History: 4.25% → 4.10% → 3.90%
lrcbob \| Jul 26, 2024 Multiple roadblocks trying to set up a savings account with Forbright and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and ... Read More Reviews (2)
Citizens Bank, National Association Glen Allen Colleague Branch	3.70%	$0	Learn More
Rate History: 4.50% → 4.15% → 3.90% → 3.70%
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (2)
Td Bank, National Association Manassas/Liberia Branch	3.70% 2.25%	$100,000 $50,000	Learn More
Rate History: 4.00% → 3.70%
Turonemckinney17@gmail.com \| May 19, 2018 Experience Read More Reviews (1)
Truist Bank Tazewell 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 Capital One, National Association 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)
Hsbc Bank Usa, National Association Carlyle Place Branch	3.60% 0.01%	$1 $0	Learn More
Rate History: 4.00% → 3.85% → 3.75% → 3.70% → 3.60%
john \| Apr 14, 2020 I call HSBC they told me they don't have 1.85 1 year CD. current CD is 0.8 / year Read More Reviews (3)
U.s. Bank National Association	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)
Gateway First Bank	3.40%	$1,000	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
Sandy Spring Bank Great Falls Branch	3.35%	$10,000	Learn More
Rate History: 3.50% → 3.35%
boon \| Oct 11, 2017 special; 14 MO CD 1.20% Read More Reviews (1)
Woodforest National Bank 0927 Martinsville Wal-Mart 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)
Chesapeake Bank Irvington Branch	3.25% 0.10%	$250,000 $100	Learn More
Rate History: 3.00% → 3.25%
Gripp13 \| Jan 27, 2023 The worst bank I have ever had Read More Reviews (1)
Atlantic Union Bank Court House Branch	3.04% 2.73%	$100,000 $0	Learn More
Rate History: 0.41% → 3.04%
tedd \| Jun 28, 2021 They bait and switch. Advertise cds at .40 but offer only .04 when in the office. Sharp business practice. Read More Reviews (2)
Citizens Bank, National Association Glen Allen Colleague Branch	3.00% 2.75%	$250,000 $25,000	Learn More
Rate History: 1.00% → 3.00%
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (2)
Eaglebank Tysons Branch	2.85% 2.65% 2.55%	$500,000 $250,000 $0	Learn More Add Review
Bank Of Whittier, National Association	2.60%	$250	Learn More Add Review
Capital One, National Association Capital One, National Association 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)
Fulton Bank, National Association Stony Point Branch	2.25% 1.95% 1.25% 0.85% 0.70% 0.60%	$250,000 $100,000 $50,000 $25,000 $10,000 $1,000	Learn More Add Review
Rate History: 2.75% → 2.55% → 2.40% → 2.25%
M.y. Safra Bank, Fsb	2.00%	$5,000	Learn More
Richard \| Jul 1, 2022 Very easy opening process and wonderful staff. Read More Reviews (6)
Farmers & Merchants Bank Broadway Branch	1.51%	$10,000	Learn More Add Review
Gateway First Bank	1.50%	$10	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
The Farmers Bank Of Appomattox The Farmers Bank Of Appomattox Branch	1.25% 0.50% 0.15%	$50,000 $25,000 $10,000	Learn More Add Review
Rate History: 0.25% → 1.25%
Usaa Federal Savings Bank	1.10% 0.01%	$500,000 $1	Learn More
Rate History: 1.50% → 1.45% → 1.10%
RYAN S \| Nov 28, 2022 While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More Reviews (2)
Wells Fargo Bank, National Association Southpoint 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)
First Horizon Bank State Street Branch	1.00% 0.70%	$100,000 $50,000	Learn More
Rate History: 2.02% → 1.76% → 1.26% → 1.16% → 1.00%
D R Lineberger \| Dec 30, 2018 Garden14 Read More Reviews (1)
Benchmark Community Bank Benchmark Community Bank Branch	1.00% 0.40% 0.25%	$100,000 $25,000 $0	Learn More Add Review
Chesapeake Bank Irvington Branch	1.00% 0.85% 0.75%	$1,000,000 $100,000 $25,000	Learn More
Gripp13 \| Jan 27, 2023 The worst bank I have ever had Read More Reviews (1)
Mainstreet Bank Mainstreet Bank Branch	0.75%	$1	Learn More Add Review
Atlantic Union Bank Court House Branch	0.65% 0.40% 0.25% 0.15%	$250,000 $100,000 $25,000 $0	Learn More
Rate History: 0.65% → 3.04% → 0.65% → 3.04% → 0.65%
tedd \| Jun 28, 2021 They bait and switch. Advertise cds at .40 but offer only .04 when in the office. Sharp business practice. Read More Reviews (2)
City National Bank	0.50%	$0	Learn More Add Review
Rate History: 1.36% → 1.11% → 0.85% → 0.60% → 0.50%
Farmers & Merchants Bank Broadway Branch	0.50%	$2,500	Learn More Add Review
New Horizon Bank, National Association New Horizon Bank, National Association Branch	0.50%	$10,000	Learn More Add Review
Woodforest National Bank 0927 Martinsville Wal-Mart 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)
Presidential Bank, Fsb Arlington Branch	0.35% 0.30%	$35,000 $10,000	Learn More Add Review
The Blue Grass Valley Bank Monterey Branch	0.35%	$10,000	Learn More Add Review
Old Dominion National Bank Old Dominion National Bank Branch	0.35%	$2,500	Learn More Add Review
Fvcbank Manassas Branch	0.30%	$2,500	Learn More Add Review
Vcc Bank Vcc Bank Branch	0.30%	$2,500	Learn More Add Review
Sandy Spring Bank Great Falls Branch	0.25%	$1	Learn More
boon \| Oct 11, 2017 special; 14 MO CD 1.20% Read More Reviews (1)
First Horizon Bank State Street Branch	0.25%	$2,500	Learn More
Rate History: 0.30% → 0.25%
D R Lineberger \| Dec 30, 2018 Garden14 Read More Reviews (1)
Keybank National Association	0.25%	$5,000	Learn More
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
U.s. Bank National Association	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)
Legacy Bank Hurley Branch	0.25%	$1	Learn More Add Review
Oak View National Bank Marshall Office Branch	0.25%	$2,500	Learn More Add Review
Mvb Bank, Inc Reston Branch	0.25%	$10,000	Learn More Add Review
Fvcbank Manassas Branch	0.25%	$25,000	Learn More Add Review
Farmers & Merchants Bank Broadway Branch	0.25%	$2,500	Learn More Add Review
The Blue Grass Valley Bank Monterey Branch	0.25%	$2,500	Learn More Add Review
Highlands Community Bank Highlands Community Bank Branch	0.25%	$25,000	Learn More Add Review
Village Bank Mechanicsville Branch	0.25%	$10,000	Learn More Add Review
New Horizon Bank, National Association New Horizon Bank, National Association Branch	0.25%	$2,500	Learn More Add Review
Vcc Bank Vcc Bank Branch	0.25%	$2,500	Learn More Add Review
Martinsville First Savings Bank Martinsville First Savings Bank Branch	0.25%	$2,500	Learn More Add Review
Legacy Bank Hurley Branch	0.22%	$2,500	Learn More Add Review
First National Bank In Frankfort	0.20%	$0	Learn More Add Review
Citizens Bank And Trust Company Blackstone Shopping Center Branch	0.20%	$1	Learn More Add Review
Mainstreet Bank Mainstreet Bank Branch	0.20%	$25,000	Learn More Add Review
Capon Valley Bank Western Frederick Branch	0.20%	$25,000	Learn More Add Review
John Marshall Bank Leesburg Branch	0.20%	$25,000	Learn More Add Review
Bank Of Charles Town Middleburg Branch	0.20%	$2,500	Learn More Add Review
Fvcbank Manassas Branch	0.20%	$2,500	Learn More Add Review
Carter Bank & Trust Memorial Drive Branch	0.20%	$25,000	Learn More
Tom Brandy \| Aug 5, 2020 How Willian Investments Company Brought Happiness To My Home. Hello Everyone out there! My name is Tom Brandy, from USA, I am using this medium to announce to the general public on how Willian Investmen... Read More Reviews (1)
Citizens And Farmers Bank Wellesley Branch	0.20%	$25,000	Learn More Add Review
The Old Point National Bank Of Phoebus Fort Monroe Branch	0.20%	$25,000	Learn More Add Review
Highlands Community Bank Highlands Community Bank Branch	0.20%	$2,500	Learn More Add Review
First National Bank First National Bank Branch	0.20%	$25,000	Learn More Add Review
Farmers And Miners Bank Rose Hill Branch	0.20%	$2,500	Learn More Add Review
New Peoples Bank, Inc. Castlewood Office Branch	0.20%	$10,000	Learn More Add Review
Movement Bank Movement Bank Branch	0.20%	$25,000	Learn More Add Review
Skyline National Bank Fairlawn Branch	0.15%	$2,500	Learn More Add Review
Citizens Bank And Trust Company Blackstone Shopping Center Branch	0.15%	$2,500	Learn More Add Review
First Sentinel Bank Bluefield Branch	0.15%	$2,500	Learn More Add Review
Miners Exchange Bank Miners Exchange Bank Branch	0.15%	$2,500	Learn More Add Review
The First Bank And Trust Company East Abingdon Branch	0.15%	$25,000	Learn More Add Review
Armed Forces Bank, National Association Fort Myer Branch	0.15%	$25,000	Learn More
BENNIE BROOKS \| Mar 25, 2015 OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More Reviews (2)
The Freedom Bank Of Virginia The Freedom Bank Of Virginia Branch	0.15%	$25,000	Learn More Add Review
Bank Of Botetourt Natural Bridge Station Branch	0.15%	$2,500	Learn More
GLENN HILL \| Mar 31, 2018 I have banked with Bank of Botetourt since 1960 when it was Bank of Troutville that later merged with Bank of Buchanan before becoming the Bank of Botetourt. An excellent bank with knowledgeable, helpful ... Read More Reviews (1)
Citizens And Farmers Bank Wellesley Branch	0.15%	$10,000	Learn More Add Review
The Old Point National Bank Of Phoebus Fort Monroe Branch	0.15%	$10,000	Learn More Add Review
The Blue Grass Valley Bank Monterey Branch	0.15%	$2,500	Learn More Add Review
Highlands Community Bank Highlands Community Bank Branch	0.15%	$2,500	Learn More Add Review
Village Bank Mechanicsville Branch	0.15%	$2,500	Learn More Add Review
The Bank Of Southside Virginia Colonial Heights Branch	0.15%	$25,000	Learn More Add Review
The Bank Of Charlotte County Brookneal Branch	0.15%	$2,500	Learn More Add Review
First National Bank First National Bank Branch	0.15%	$10,000	Learn More Add Review
Lee Bank And Trust Company Bristol Branch	0.15%	$2,500	Learn More Add Review
New Peoples Bank, Inc. Castlewood Office Branch	0.15%	$2,500	Learn More Add Review
Movement Bank Movement Bank Branch	0.15%	$10,000	Learn More Add Review
Amg National Trust Bank Virginia Beach Branch	0.15%	$10,000	Learn More Add Review
Oak View National Bank Marshall Office Branch	0.12%	$25,000	Learn More Add Review
First-citizens Bank & Trust Company First-Citizens Bank & Trust Company 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)
The Farmers Bank Of Appomattox The Farmers Bank Of Appomattox Branch	0.10%	$10	Learn More Add Review
Atlantic Union Bank Court House Branch	0.10%	$0	Learn More
tedd \| Jun 28, 2021 They bait and switch. Advertise cds at .40 but offer only .04 when in the office. Sharp business practice. Read More Reviews (2)
Benchmark Community Bank Benchmark Community Bank Branch	0.10%	$100	Learn More Add Review
First Bank South Woodstock Branch	0.10%	$10,000	Learn More Add Review
Trupoint Bank West Abingdon Branch	0.10%	$1	Learn More Add Review
Mainstreet Bank Mainstreet Bank Branch	0.10%	$1	Learn More Add Review
First Sentinel Bank Bluefield Branch	0.10%	$2,500	Learn More Add Review
Shore United Bank Onley, Va Branch	0.10%	$1	Learn More Add Review
Miners Exchange Bank Miners Exchange Bank Branch	0.10%	$1	Learn More Add Review
Capon Valley Bank Western Frederick Branch	0.10%	$2,500	Learn More Add Review
John Marshall Bank Leesburg Branch	0.10%	$2,500	Learn More Add Review
The First Bank And Trust Company East Abingdon Branch	0.10%	$2,500	Learn More Add Review
Armed Forces Bank, National Association Fort Myer Branch	0.10%	$2,500	Learn More
BENNIE BROOKS \| Mar 25, 2015 OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More Reviews (2)
Burke & Herbert Bank & Trust Company Burke Town Plaza Branch	0.10%	$25,000	Learn More Add Review
The National Capital Bank Of Washington	0.10%	$2,500	Learn More Add Review
The Freedom Bank Of Virginia The Freedom Bank Of Virginia Branch	0.10%	$2,500	Learn More Add Review
Bank Of Botetourt Natural Bridge Station Branch	0.10%	$2,500	Learn More
GLENN HILL \| Mar 31, 2018 I have banked with Bank of Botetourt since 1960 when it was Bank of Troutville that later merged with Bank of Buchanan before becoming the Bank of Botetourt. An excellent bank with knowledgeable, helpful ... Read More Reviews (1)
Hanmi Bank Annandale Branch	0.10%	$2,500	Learn More Add Review
Carter Bank & Trust Memorial Drive Branch	0.10%	$2,500	Learn More
Tom Brandy \| Aug 5, 2020 How Willian Investments Company Brought Happiness To My Home. Hello Everyone out there! My name is Tom Brandy, from USA, I am using this medium to announce to the general public on how Willian Investmen... Read More Reviews (1)
Pendleton Community Bank, Inc. Harrisonburg Branch	0.10%	$25,000	Learn More Add Review
The Old Point National Bank Of Phoebus Fort Monroe Branch	0.10%	$2,500	Learn More Add Review
Village Bank Mechanicsville Branch	0.10%	$2,500	Learn More Add Review
The Bank Of Southside Virginia Colonial Heights Branch	0.10%	$2,500	Learn More Add Review
New Horizon Bank, National Association New Horizon Bank, National Association Branch	0.10%	$2,500	Learn More Add Review
First National Bank First National Bank Branch	0.10%	$2,500	Learn More Add Review
Cornerstone Bank, National Association College Square Branch	0.10%	$2,500	Learn More Add Review
Lee Bank And Trust Company Bristol Branch	0.10%	$2,500	Learn More Add Review
Powell Valley National Bank Wise Branch	0.10%	$2,500	Learn More Add Review
The National Bank Of Blacksburg Us Route 11 Branch	0.10%	$25,000	Learn More Add Review
Pinnacle Bank Salem Branch	0.10%	$25,000	Learn More
jchitt@comcast.nrt \| Mar 5, 2019 Pinnacle has not had a 3% CD since Oct of 2018. Read More Reviews (3)
Movement Bank Movement Bank Branch	0.10%	$2,500	Learn More Add Review
First Community Bank Salem Branch	0.07%	$25,000	Learn More Add Review
Southern Bank And Trust Company Lynnhaven Branch	0.07%	$25,000	Learn More Add Review
The National Bank Of Blacksburg Us Route 11 Branch	0.06%	$10,000	Learn More Add Review
First Community Bank Salem Branch	0.06%	$2,500	Learn More Add Review
First Bank South Woodstock Branch	0.05%	$2,500	Learn More Add Review
Bank Of The James Main Street Branch	0.05%	$2,500	Learn More Add Review
Oak View National Bank Marshall Office Branch	0.05%	$2,500	Learn More Add Review
Bank Of Charles Town Middleburg Branch	0.05%	$2,500	Learn More Add Review
The First Bank And Trust Company East Abingdon Branch	0.05%	$2,500	Learn More Add Review
Armed Forces Bank, National Association Fort Myer Branch	0.05%	$2,500	Learn More
BENNIE BROOKS \| Mar 25, 2015 OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More Reviews (2)
Burke & Herbert Bank & Trust Company Burke Town Plaza Branch	0.05%	$2,500	Learn More Add Review
The National Capital Bank Of Washington	0.05%	$2,500	Learn More Add Review
The Freedom Bank Of Virginia The Freedom Bank Of Virginia Branch	0.05%	$2,500	Learn More Add Review
Hanmi Bank Annandale Branch	0.05%	$2,500	Learn More Add Review
Blue Ridge Bank, National Association Stuart Branch	0.05%	$25,000	Learn More
Jack \| Jul 20, 2020 This bank is very bad. I am posting my story here now, hoping to make a reference for those friends who want to become their customers. I was very excited when I saw Blue Ridge Bank, N.A. on Google beca... Read More Reviews (1)
Pendleton Community Bank, Inc. Harrisonburg Branch	0.05%	$2,500	Learn More Add Review
Citizens And Farmers Bank Wellesley Branch	0.05%	$2,500	Learn More Add Review
The Old Point National Bank Of Phoebus Fort Monroe Branch	0.05%	$2,500	Learn More Add Review
Old Dominion National Bank Old Dominion National Bank Branch	0.05%	$2,500	Learn More Add Review
First Community Bank Salem Branch	0.05%	$10,000	Learn More Add Review
Cornerstone Bank, National Association College Square Branch	0.05%	$10,000	Learn More Add Review
Farmers And Miners Bank Rose Hill Branch	0.05%	$2,500	Learn More Add Review
The Bank Of Marion Washington Avenue Branch	0.05%	$10,000	Learn More Add Review
Pinnacle Bank Salem Branch	0.05%	$2,500	Learn More
jchitt@comcast.nrt \| Mar 5, 2019 Pinnacle has not had a 3% CD since Oct of 2018. Read More Reviews (3)
Martinsville First Savings Bank Martinsville First Savings Bank Branch	0.05%	$2,500	Learn More Add Review
The Fidelity Bank Rocky Mount Branch	0.05%	$25,000	Learn More Add Review
Southern Bank And Trust Company Lynnhaven Branch	0.05%	$25,000	Learn More Add Review
Amg National Trust Bank Virginia Beach Branch	0.05%	$2,500	Learn More Add Review
Bank Of America, National Association Mathews 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)
Chain Bridge Bank, National Association Chain Bridge Bank, National Association Branch	0.04%	$2,500	Learn More Add Review
Shore United Bank Onley, Va Branch	0.03%	$1	Learn More Add Review
The National Bank Of Blacksburg Us Route 11 Branch	0.03%	$1	Learn More Add Review
Chain Bridge Bank, National Association Chain Bridge Bank, National Association Branch	0.03%	$2,500	Learn More Add Review
Pioneer Bank Harrisonburg Branch	0.03%	$25,000	Learn More
Charla M \| Jan 12, 2021 We are a commercial customer that have been with Pioneer Bank since 2014 when they were privately held in Dripping Springs. Since they were sold we have been through 3 bank managers and the Manager servic... Read More Reviews (1)
Blue Ridge Bank, National Association Stuart Branch	0.03%	$2,500	Learn More
Jack \| Jul 20, 2020 This bank is very bad. I am posting my story here now, hoping to make a reference for those friends who want to become their customers. I was very excited when I saw Blue Ridge Bank, N.A. on Google beca... Read More Reviews (1)
Towne Bank First Colonial Branch	0.03%	$25,000	Learn More Add Review
First Community Bank Salem Branch	0.03%	$2,500	Learn More Add Review
The Bank Of Marion Washington Avenue Branch	0.03%	$2,500	Learn More Add Review
Pinnacle Bank Salem Branch	0.03%	$2,500	Learn More
jchitt@comcast.nrt \| Mar 5, 2019 Pinnacle has not had a 3% CD since Oct of 2018. Read More Reviews (3)
Pnc Bank, National Association Herndon Branch	0.02%	$50,000	Learn More
Rate History: 1.00% → 0.05% → 0.02%
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Fulton Bank, National Association Stony Point Branch	0.02%	$0	Learn More Add Review
Jpmorgan Chase Bank, National Association	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)
The National Bank Of Blacksburg Us Route 11 Branch	0.02%	$1	Learn More Add Review
Pioneer Bank Harrisonburg Branch	0.02%	$2,500	Learn More
Charla M \| Jan 12, 2021 We are a commercial customer that have been with Pioneer Bank since 2014 when they were privately held in Dripping Springs. Since they were sold we have been through 3 bank managers and the Manager servic... Read More Reviews (1)
Towne Bank First Colonial Branch	0.02%	$2,500	Learn More Add Review
Cornerstone Bank, National Association College Square Branch	0.02%	$2,500	Learn More Add Review
The Fidelity Bank Rocky Mount Branch	0.02%	$2,500	Learn More Add Review
Southern Bank And Trust Company Lynnhaven Branch	0.02%	$2,500	Learn More Add Review
Pnc Bank, National Association Herndon Branch	0.01%	$2,500	Learn More
Rate History: 0.03% → 0.01%
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Keybank National Association	0.01%	$1	Learn More
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
Manufacturers And Traders Trust Company Fairfax Circle Branch	0.01%	$1	Learn More
Claire blankinship \| Aug 5, 2020 I used to go to M&T when it was still Provident Bank. M&T has been very responsive to my needs and I have been pleased with the banking experience. Read More Reviews (3)
City National Bank	0.01%	$0	Learn More Add Review
First Bank South Woodstock Branch	0.01%	$200	Learn More Add Review
Mvb Bank, Inc Reston Branch	0.01%	$2,500	Learn More Add Review
Pioneer Bank Harrisonburg Branch	0.01%	$2,500	Learn More
Charla M \| Jan 12, 2021 We are a commercial customer that have been with Pioneer Bank since 2014 when they were privately held in Dripping Springs. Since they were sold we have been through 3 bank managers and the Manager servic... Read More Reviews (1)
Blue Ridge Bank, National Association Stuart Branch	0.01%	$2,500	Learn More
Jack \| Jul 20, 2020 This bank is very bad. I am posting my story here now, hoping to make a reference for those friends who want to become their customers. I was very excited when I saw Blue Ridge Bank, N.A. on Google beca... Read More Reviews (1)
Towne Bank First Colonial Branch	0.01%	$2,500	Learn More Add Review
The Bank Of Marion Washington Avenue Branch	0.01%	$2,500	Learn More Add Review
Southern Bank And Trust Company Lynnhaven Branch	0.01%	$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.

See rates for Credit Unions →

Branches Info across Virginia

Branch	Street	City	State
EagleBank Tysons Branch	8245 Boone Boulevard	Vienna	VA
Presidential Bank, FSB Arlington Branch	901 N. Stuart Street	Arlington	VA
Citibank, National Association Tysons Corner Branch	8516 Leesburg Pike	Vienna	VA
Forbright Bank Herndon Branch	150 Elden Street Suite 170	Herndon	VA
Citizens Glen Allen Colleague Branch	10561 Telegraph Road	Glen Allen	VA
TD Bank, National Association Manassas/Liberia Branch	9800 Liberia Avenue	Manassas	VA
Truist Bank Tazewell Branch	100 Hillsboro Drive	North Tazewell	VA
Capital One, National Association Capital One, National Association Branch	2401 Smith Boulevard, Room B2518	Arlington	VA
HSBC Bank USA, National Association Carlyle Place Branch	415 John Carlyle Street	Alexandria	VA
Sandy Spring Bank Great Falls Branch	9851 Georgetown Pike	Great Falls	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Chesapeake Bank Irvington Branch	98 King Carter Drive	Irvington	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
Citizens Glen Allen Colleague Branch	10561 Telegraph Road	Glen Allen	VA
EagleBank Tysons Branch	8245 Boone Boulevard	Vienna	VA
Citizens Glen Allen Colleague Branch	10561 Telegraph Road	Glen Allen	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
EagleBank Tysons Branch	8245 Boone Boulevard	Vienna	VA
EagleBank Tysons Branch	8245 Boone Boulevard	Vienna	VA
Capital One, National Association Capital One, National Association Branch	2401 Smith Boulevard, Room B2518	Arlington	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
TD Bank, National Association Manassas/Liberia Branch	9800 Liberia Avenue	Manassas	VA
EagleBank Tysons Branch	8245 Boone Boulevard	Vienna	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Farmers & Merchants Bank Broadway Branch	126 North Timber Way	Broadway	VA
The Farmers Bank of Appomattox The Farmers Bank Of Appomattox Branch	223 Main Street	Appomattox	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
Wells Fargo Bank, National Association Southpoint Branch	9906 Southpoint Parkway	Fredericksburg	VA
First Horizon Bank State Street Branch	901 West State Street	Bristol	VA
Benchmark Community Bank Benchmark Community Bank Branch	Fifth Avenue And Commerce Street	Kenbridge	VA
Chesapeake Bank Irvington Branch	98 King Carter Drive	Irvington	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
Chesapeake Bank Irvington Branch	98 King Carter Drive	Irvington	VA
Chesapeake Bank Irvington Branch	98 King Carter Drive	Irvington	VA
MainStreet Bank Mainstreet Bank Branch	10089 Fairfax Blvd	Fairfax	VA
First Horizon Bank State Street Branch	901 West State Street	Bristol	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
The Farmers Bank of Appomattox The Farmers Bank Of Appomattox Branch	223 Main Street	Appomattox	VA
Farmers & Merchants Bank Broadway Branch	126 North Timber Way	Broadway	VA
New Horizon Bank, National Association New Horizon Bank, National Association Branch	2501 Anderson Highway	Powhatan	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
Benchmark Community Bank Benchmark Community Bank Branch	Fifth Avenue And Commerce Street	Kenbridge	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Presidential Bank, FSB Arlington Branch	901 N. Stuart Street	Arlington	VA
The Blue Grass Valley Bank Monterey Branch	East Main Street	Monterey	VA
Old Dominion National Bank Old Dominion National Bank Branch	4916 Plank Road, Suite 216	North Garden	VA
Presidential Bank, FSB Arlington Branch	901 N. Stuart Street	Arlington	VA
FVCbank Manassas Branch	7900 Sudley Road, Suite 100	Manassas	VA
Locus Bank, Inc. Vcc Bank Branch	110 Peppers Ferry Road Nw	Christiansburg	VA
Woodforest National Bank 0927 Martinsville Wal-Mart Branch	976 Commonwealth Blvd	Martinsville	VA
Sandy Spring Bank Great Falls Branch	9851 Georgetown Pike	Great Falls	VA
First Horizon Bank State Street Branch	901 West State Street	Bristol	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
Benchmark Community Bank Benchmark Community Bank Branch	Fifth Avenue And Commerce Street	Kenbridge	VA
Legacy Bank Hurley Branch	10073 Hurley Road	Hurley	VA
Oak View National Bank Marshall Office Branch	4174 D Old Stockyard Road	Marshall	VA
MVB Bank, Inc Reston Branch	1801 Old Reston Avenue, Suite 103	Reston	VA
FVCbank Manassas Branch	7900 Sudley Road, Suite 100	Manassas	VA
Farmers & Merchants Bank Broadway Branch	126 North Timber Way	Broadway	VA
The Blue Grass Valley Bank Monterey Branch	East Main Street	Monterey	VA
Highlands Community Bank Highlands Community Bank Branch	307 Thacker Avenue	Covington	VA
Village Bank Mechanicsville Branch	8051 Mechanicsville Turnpike	Mechanicsville	VA
New Horizon Bank, National Association New Horizon Bank, National Association Branch	2501 Anderson Highway	Powhatan	VA
Locus Bank, Inc. Vcc Bank Branch	110 Peppers Ferry Road Nw	Christiansburg	VA
Martinsville First Savings Bank Martinsville First Savings Bank Branch	25 W Church Street	Martinsville	VA
Legacy Bank Hurley Branch	10073 Hurley Road	Hurley	VA
Citibank, National Association Tysons Corner Branch	8516 Leesburg Pike	Vienna	VA
Citizens Bank and Trust Company Blackstone Shopping Center Branch	1575 South Main Street	Blackstone	VA
MainStreet Bank Mainstreet Bank Branch	10089 Fairfax Blvd	Fairfax	VA
Capon Valley Bank Western Frederick Branch	6701 Northwestern Pike	Gore	VA
John Marshall Bank Leesburg Branch	842 S King St	Leesburg	VA
Bank of Charles Town Middleburg Branch	115 The Plains Road, Suite 150	Middleburg	VA
FVCbank Manassas Branch	7900 Sudley Road, Suite 100	Manassas	VA
Carter Bank & Trust Memorial Drive Branch	998 Memorial Drive	Pulaski	VA
Citizens and Farmers Bank Wellesley Branch	3490 Lauderdale Drive	Richmond	VA
The Old Point National Bank of Phoebus Fort Monroe Branch	100 Griffith Street	Fort Monroe	VA
Highlands Community Bank Highlands Community Bank Branch	307 Thacker Avenue	Covington	VA
First National Bank First National Bank Branch	622 Broad Street	Altavista	VA
Farmers and Miners Bank Rose Hill Branch	6489 Dr. Thomas Walker Rd	Rose Hill	VA
New Peoples Bank, Inc. Castlewood Office Branch	87 Miners Drive	Castlewood	VA
Movement Bank Movement Bank Branch	201 N. Union Street	Danville	VA
The Farmers Bank of Appomattox The Farmers Bank Of Appomattox Branch	223 Main Street	Appomattox	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
SKYLINE NATIONAL BANK Fairlawn Branch	7349 Perpper Ferry Boulevard	Radford	VA
Citizens Bank and Trust Company Blackstone Shopping Center Branch	1575 South Main Street	Blackstone	VA
First Sentinel Bank Bluefield Branch	801 S. College Ave., Ste. 5	Bluefield	VA
Miners Exchange Bank Miners Exchange Bank Branch	483 Front Street	Coeburn	VA
The First Bank and Trust Company East Abingdon Branch	933 East Main Street	Abingdon	VA
Armed Forces Bank, National Association Fort Myer Branch	108 Mcnair Road, Building 451	Fort Myer	VA
The Freedom Bank of Virginia The Freedom Bank Of Virginia Branch	10555 Main Street	Fairfax	VA
Bank of Botetourt Natural Bridge Station Branch	9 Lloyd Tolley Road	Natural Bridge Station	VA
Citizens and Farmers Bank Wellesley Branch	3490 Lauderdale Drive	Richmond	VA
The Old Point National Bank of Phoebus Fort Monroe Branch	100 Griffith Street	Fort Monroe	VA
The Blue Grass Valley Bank Monterey Branch	East Main Street	Monterey	VA
Highlands Community Bank Highlands Community Bank Branch	307 Thacker Avenue	Covington	VA
Village Bank Mechanicsville Branch	8051 Mechanicsville Turnpike	Mechanicsville	VA
The Bank of Southside Virginia Colonial Heights Branch	764 East Ellerslie Avenue	Colonial Heights	VA
The Bank of Charlotte County Brookneal Branch	308 Lynchburg Avenue	Brookneal	VA
First National Bank First National Bank Branch	622 Broad Street	Altavista	VA
Lee Bank and Trust Company Bristol Branch	707 Gate City Highway	Bristol	VA
New Peoples Bank, Inc. Castlewood Office Branch	87 Miners Drive	Castlewood	VA
Movement Bank Movement Bank Branch	201 N. Union Street	Danville	VA
AMG National Trust Bank Virginia Beach Branch	708 Lynnhaven Parkway, Suite 140	Virginia Beach	VA
Oak View National Bank Marshall Office Branch	4174 D Old Stockyard Road	Marshall	VA
First-Citizens Bank & Trust Company First-Citizens Bank & Trust Company Branch	906 Branchway Road	Richmond	VA
The Farmers Bank of Appomattox The Farmers Bank Of Appomattox Branch	223 Main Street	Appomattox	VA
Atlantic Union Bank Court House Branch	6720 Sutton Road	Gloucester	VA
Benchmark Community Bank Benchmark Community Bank Branch	Fifth Avenue And Commerce Street	Kenbridge	VA
Chesapeake Bank Irvington Branch	98 King Carter Drive	Irvington	VA
First Bank South Woodstock Branch	860 South Main Street	Woodstock	VA
TruPoint Bank West Abingdon Branch	914 West Main Street	Abingdon	VA
MainStreet Bank Mainstreet Bank Branch	10089 Fairfax Blvd	Fairfax	VA
First Sentinel Bank Bluefield Branch	801 S. College Ave., Ste. 5	Bluefield	VA
Shore United Bank, National Association Onley, Va Branch	25306 Lankford Hwy	Onley	VA
Miners Exchange Bank Miners Exchange Bank Branch	483 Front Street	Coeburn	VA
Capon Valley Bank Western Frederick Branch	6701 Northwestern Pike	Gore	VA
John Marshall Bank Leesburg Branch	842 S King St	Leesburg	VA
The First Bank and Trust Company East Abingdon Branch	933 East Main Street	Abingdon	VA
Armed Forces Bank, National Association Fort Myer Branch	108 Mcnair Road, Building 451	Fort Myer	VA
Burke & Herbert Bank & Trust Company Burke Town Plaza Branch	9516 Old Keene Mill Road	Burke	VA
The Freedom Bank of Virginia The Freedom Bank Of Virginia Branch	10555 Main Street	Fairfax	VA
Bank of Botetourt Natural Bridge Station Branch	9 Lloyd Tolley Road	Natural Bridge Station	VA
Hanmi Bank Annandale Branch	7140 Little River Turnpike, Suite 749	Annandale	VA
Carter Bank & Trust Memorial Drive Branch	998 Memorial Drive	Pulaski	VA
Pendleton Community Bank, Inc. Harrisonburg Branch	41 Monte Vista Dr	Harrisonburg	VA
The Old Point National Bank of Phoebus Fort Monroe Branch	100 Griffith Street	Fort Monroe	VA
Village Bank Mechanicsville Branch	8051 Mechanicsville Turnpike	Mechanicsville	VA
The Bank of Southside Virginia Colonial Heights Branch	764 East Ellerslie Avenue	Colonial Heights	VA
New Horizon Bank, National Association New Horizon Bank, National Association Branch	2501 Anderson Highway	Powhatan	VA
First National Bank First National Bank Branch	622 Broad Street	Altavista	VA
CornerStone Bank College Square Branch	744 North Lee Highway	Lexington	VA
Lee Bank and Trust Company Bristol Branch	707 Gate City Highway	Bristol	VA
Powell Valley National Bank Wise Branch	540 West Main Street	Wise	VA
The National Bank of Blacksburg Us Route 11 Branch	U.S.route 11	Dublin	VA
Pinnacle Bank Salem Branch	8 East Main Street	Salem	VA
Movement Bank Movement Bank Branch	201 N. Union Street	Danville	VA
First-Citizens Bank & Trust Company First-Citizens Bank & Trust Company Branch	906 Branchway Road	Richmond	VA
First Community Bank Salem Branch	1406 S. Colorado Street	Salem	VA
Southern Bank and Trust Company Lynnhaven Branch	601 Lynnhaven Parkway	Virginia Beach	VA
The National Bank of Blacksburg Us Route 11 Branch	U.S.route 11	Dublin	VA
First Community Bank Salem Branch	1406 S. Colorado Street	Salem	VA
First Bank South Woodstock Branch	860 South Main Street	Woodstock	VA
Bank of the James Main Street Branch	828 Main Street	Lynchburg	VA
Oak View National Bank Marshall Office Branch	4174 D Old Stockyard Road	Marshall	VA
Bank of Charles Town Middleburg Branch	115 The Plains Road, Suite 150	Middleburg	VA
The First Bank and Trust Company East Abingdon Branch	933 East Main Street	Abingdon	VA
Armed Forces Bank, National Association Fort Myer Branch	108 Mcnair Road, Building 451	Fort Myer	VA
Burke & Herbert Bank & Trust Company Burke Town Plaza Branch	9516 Old Keene Mill Road	Burke	VA
The Freedom Bank of Virginia The Freedom Bank Of Virginia Branch	10555 Main Street	Fairfax	VA
Hanmi Bank Annandale Branch	7140 Little River Turnpike, Suite 749	Annandale	VA
Blue Ridge Bank, National Association Stuart Branch	48 Animal Clinic Road	Stuart	VA
Pendleton Community Bank, Inc. Harrisonburg Branch	41 Monte Vista Dr	Harrisonburg	VA
Citizens and Farmers Bank Wellesley Branch	3490 Lauderdale Drive	Richmond	VA
The Old Point National Bank of Phoebus Fort Monroe Branch	100 Griffith Street	Fort Monroe	VA
Old Dominion National Bank Old Dominion National Bank Branch	4916 Plank Road, Suite 216	North Garden	VA
First Community Bank Salem Branch	1406 S. Colorado Street	Salem	VA
CornerStone Bank College Square Branch	744 North Lee Highway	Lexington	VA
Farmers and Miners Bank Rose Hill Branch	6489 Dr. Thomas Walker Rd	Rose Hill	VA
The Bank of Marion Washington Avenue Branch	1026 South Main Street	Marion	VA
Pinnacle Bank Salem Branch	8 East Main Street	Salem	VA
Martinsville First Savings Bank Martinsville First Savings Bank Branch	25 W Church Street	Martinsville	VA
The Fidelity Bank Rocky Mount Branch	77 Powder Creek Lane	Rocky Mount	VA
Southern Bank and Trust Company Lynnhaven Branch	601 Lynnhaven Parkway	Virginia Beach	VA
AMG National Trust Bank Virginia Beach Branch	708 Lynnhaven Parkway, Suite 140	Virginia Beach	VA
Bank of America, National Association Mathews Branch	10458 Buckley Hall Road	Mathews	VA
Chain Bridge Bank, National Association Chain Bridge Bank, National Association Branch	1445-A Laughlin Avenue	Mclean	VA
Shore United Bank, National Association Onley, Va Branch	25306 Lankford Hwy	Onley	VA
The National Bank of Blacksburg Us Route 11 Branch	U.S.route 11	Dublin	VA
Chain Bridge Bank, National Association Chain Bridge Bank, National Association Branch	1445-A Laughlin Avenue	Mclean	VA
Pioneer Bank Harrisonburg Branch	890 West Market Street	Harrisonburg	VA
Blue Ridge Bank, National Association Stuart Branch	48 Animal Clinic Road	Stuart	VA
TowneBank First Colonial Branch	984 First Colonial Road	Virginia Beach	VA
First Community Bank Salem Branch	1406 S. Colorado Street	Salem	VA
The Bank of Marion Washington Avenue Branch	1026 South Main Street	Marion	VA
Pinnacle Bank Salem Branch	8 East Main Street	Salem	VA
PNC Bank, National Association Herndon Branch	950 Herndon Parkway	Herndon	VA
Fulton Bank, National Association Stony Point Branch	9030 Stony Point Parkway	Richmond	VA
The National Bank of Blacksburg Us Route 11 Branch	U.S.route 11	Dublin	VA
Pioneer Bank Harrisonburg Branch	890 West Market Street	Harrisonburg	VA
TowneBank First Colonial Branch	984 First Colonial Road	Virginia Beach	VA
CornerStone Bank College Square Branch	744 North Lee Highway	Lexington	VA
The Fidelity Bank Rocky Mount Branch	77 Powder Creek Lane	Rocky Mount	VA
Southern Bank and Trust Company Lynnhaven Branch	601 Lynnhaven Parkway	Virginia Beach	VA
Wells Fargo Bank, National Association Southpoint Branch	9906 Southpoint Parkway	Fredericksburg	VA
HSBC Bank USA, National Association Carlyle Place Branch	415 John Carlyle Street	Alexandria	VA
PNC Bank, National Association Herndon Branch	950 Herndon Parkway	Herndon	VA
Truist Bank Tazewell Branch	100 Hillsboro Drive	North Tazewell	VA
Manufacturers and Traders Trust Company Fairfax Circle Branch	9720 Lee Highway	Fairfax	VA
First Bank South Woodstock Branch	860 South Main Street	Woodstock	VA
MVB Bank, Inc Reston Branch	1801 Old Reston Avenue, Suite 103	Reston	VA
Pioneer Bank Harrisonburg Branch	890 West Market Street	Harrisonburg	VA
Blue Ridge Bank, National Association Stuart Branch	48 Animal Clinic Road	Stuart	VA
TowneBank First Colonial Branch	984 First Colonial Road	Virginia Beach	VA
The Bank of Marion Washington Avenue Branch	1026 South Main Street	Marion	VA
Southern Bank and Trust Company Lynnhaven Branch	601 Lynnhaven Parkway	Virginia Beach	VA

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

VIRGINIA SAVINGS ACCOUNT ENVIRONMENT

Virginia is generally considered a competitive consumer market for deposit products. There are numerous banks and financial institutions operating in the state, offering a wide range of deposit products such as savings accounts, checking accounts, certificates of deposit (CDs), and other options. Consumers in Virginia have access to various options and can compare and choose from different financial institutions based on factors such as interest rates, fees, account features, customer service, and convenience.

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.