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Best Banks in America for Savings

FDIC Insured up to $250,000  •  National rate is 0.06%  •  Updated February 6th, 2016

Bank Account Type APY Rate Minimum Changed
Applied Bank MMA 0.02% 0.02% $500.00 02/5/2016
Citizens Trust Bank Savings 0.05% 0.05% $1,000.00 02/5/2016
Citizens Trust Bank MMA 0.05% 0.05% $100.00 02/5/2016
Astoria Bank Savings 0.05% 0.05% $500.00 02/5/2016
Astoria Bank MMA 0.05% 0.05% $2,500.00 02/5/2016
USAA Savings 0.05% 0.05% $25.00 02/5/2016
USAA MMA 0.05% 0.05% $10,000.00 02/5/2016
Applied Bank Savings 0.10% 0.10% $100.00 02/5/2016
American Bank MMA 0.10% 0.10% $100.00 02/5/2016
5 Star Bank MMA 0.10% 0.10% $1,000.00 02/5/2016
State Farm Bank Savings 0.10% 0.10% $100.00 02/2/2016
American Bank Savings 0.10% 0.10% $100.00 02/5/2016
NewDominion Bank MMA 0.15% 0.15% $500.00 02/5/2016
5 Star Bank Savings 0.20% 0.20% $100.00 02/5/2016
Third Federal Savings and Loan Savings 0.20% 0.20% $25,000.00 02/5/2016
Heritage Bank Savings 0.25% 0.25% $1,000.00 02/5/2016
Goldwater Bank MMA 0.26% 0.26% $1,000.00 02/5/2016
State Farm Bank MMA 0.30% 0.30% $1,000.00 02/2/2016
giantbank.com MMA 0.45% 0.45% $1,000.00 02/5/2016
AloStar Bank of Commerce MMA 0.50% 0.50% $1,000.00 02/5/2016
AloStar Bank of Commerce Savings 0.50% 0.50% $50.00 02/5/2016
Lone Star Bank Savings 0.50% 0.50% $200.00 02/5/2016
EH National Bank Savings 0.55% 0.55% $1,000.00 02/5/2016
Lone Star Bank MMA 0.60% 0.60% $2,500.00 02/5/2016
First Internet Bank of Indiana Savings 0.60% 0.60% $100.00 02/5/2016
VirtualBank MMA 0.65% 0.65% $100.00 02/5/2016
Capital One 360 Savings 0.75% 0.75% $0.00 02/5/2016
Discover Bank MMA 0.80% 0.80% $2,500.00 02/5/2016
EH National Bank MMA 0.80% 0.80% $1,000.00 02/5/2016
First Internet Bank of Indiana MMA 0.80% 0.80% $100.00 02/5/2016
MyCBB MMA 0.83% 0.83% $100.00 02/5/2016
Synchrony Bank MMA 0.85% 0.85% $0.00 02/5/2016
Colorado Federal Savings Bank Savings 0.85% 0.85% $2,500.00 02/5/2016
Mutual of Omaha Bank MMA 0.85% 0.85% $1,000.00 02/5/2016
Discover Bank Savings 0.95% 0.95% $500.00 02/5/2016
FNBO Direct Savings 0.95% 0.95% $1.00 02/5/2016
My Savings Direct Savings 1.00% 1.00% $1.00 02/5/2016
CIT Bank Savings 1.00% 0.99% $100.00 02/5/2016
iGObanking.com Savings 1.00% 1.00% $1.00 02/5/2016
ableBanking, a division of Northeast Bank MMA 1.00% 1.00% $250.00 02/5/2016
Synchrony Bank Savings 1.05% 1.04% $0.00 02/5/2016
GE Capital Bank Savings 1.05% 1.04% $0.00 02/5/2016
Northeast Bank MMA 1.10% 1.09% $5,000.00 02/5/2016
iGObanking.com MMA 1.10% 1.09% $25,000.00 02/5/2016
Silvergate Bank MMA 1.11% 1.10% $1,000.00 02/5/2016
North American Savings Bank, FSB Savings 1.12% 1.11% $100.00 02/5/2016

Compared to Top Banks

The National average on savings accounts is 0.06%. Compare our rates to the most well known banks.

Select a bank below to compare

Our Rates

Largest Banks

Ally Bank

1.00

% APY

0.01

% APY

Ally Bank

To Open $0.00 Review
APY 1.00% Updated 02/5/2016
Rate 1.00% Type Savings

Learn more about this bank!

Bank of America

To Open $25.00 Review
APY 0.01% Updated 02/6/2016
Rate 0.01% Type Savings
EverBank

1.11

% APY

0.01

% APY

EverBank

To Open $1,500.00 Review
APY 1.11% Updated 01/29/2016
Rate 0.61% Type MMA

Learn more about this bank!

Chase Bank

To Open $25.00 Review
APY 0.01% Updated 02/6/2016
Rate 0.01% Type Savings
Dime Savings Bank of Williamsburgh

1.10

% APY

0.01

% APY

Dime Savings Bank of Williamsburgh

To Open $1,000.00 Review
APY 1.10% Updated 02/5/2016
Rate 1.09% Type MMA

Learn more about this bank!

citibank

To Open $0.00 Review
APY 0.01% Updated 02/6/2016
Rate 0.01% Type Savings
Barclays

1.00

% APY

0.01

% APY

Barclays

To Open $0.00 Review
APY 1.00% Updated 02/5/2016
Rate 1.00% Type Savings

Learn more about this bank!

USBank

To Open $25.00 Review
APY 0.01% Updated 02/6/2016
Rate 0.01% Type Savings
Sallie Mae

0.90

% APY

0.01

% APY

Sallie Mae

To Open $0.00 Review
APY 0.90% Updated 02/5/2016
Rate 0.90% Type MMA

Learn more about this bank!

Wells Fargo

To Open $25.00 Review
APY 0.01% Updated 02/6/2016
Rate 0.01% Type Savings
American Express Bank, FSB

0.90

% APY

0.05

% APY

American Express Bank, FSB

To Open $0.00 Review
APY 0.90% Updated 02/5/2016
Rate 0.90% Type Savings

Learn more about this bank!

USAA

To Open $25.00 Review
APY 0.05% Updated 02/6/2016
Rate 0.05% Type Savings
Capital One 360

0.75

% APY

0.10

% APY

Capital One 360

To Open $1.00 Review
APY 0.75% Updated 02/5/2016
Rate 0.75% Type Savings

Learn more about this bank!

State Farm Bank

To Open $100.00 Review
APY 0.10% Updated 02/6/2016
Rate 0.10% Type Savings

PLEASE NOTE: Some of the banks in the Largest Banks column provide bonus APY up to 0.15% depending on type of account and your daily balance. For instance, USBank offers a 0.10% APY with a daily balance of $50,000. USAA offers a 0.15% APY with a daily balance over $25,000.

Frequently Asked Questions

What is the National average on savings?

The National average is 0.06%.

Online banks have a lower operating cost and can offer a more competitive interest rate, which is currently up to 16.7 times higher than the national average.

1.00% doesn't seem that high, is it worth it?

Absolutely! It may not seem that much, though with $2,000 in the bank for emergencies or other savings, you'll earn $20.00 a year. For a 15 minute investment, that's making the equivalent of $80.00 an hour. Your money will now work for you forever. Invest more and the return just gets better.

What is an online bank?

All banks we represent are online banks. This means you interact with the bank via your browser or smart phone. Most online banks don't have physical locations they staff for members. They offer support via phone, email, or instant message. The benefit of this is that online banks offer higher interest rates, earning you more money over time.

I like my current local bank, why should I change?

You shouldn't. There's no reason to drop your local bank, just as there's no reason you can't have more than one bank. Each bank has different benefits. Local banks offer physical locations you can go for a number of useful services. Online banks offer the most interest on deposit accounts.

The banks we represent are a perfect choice for your savings. Keep your rainy day fund, emergency fund, vacation fund, etc. in an online high yield interest account and have your money work for you.

What is the FDIC? And what is no-risk investment?

The FDIC (Federal Deposit Insurance Corporation) is a US government corporation that insures the money in your accounts up to $250,000. This doesn't cost you anything!

All of the banks on our list are FDIC insured. This means there's no risk, unless you invest more than $250,000 with a bank. If you need to invest more, use our list to find a third bank. Each bank is insured up to the full amount, so saving your money in multiple banks is the best way to ensure a no-risk gain on your money.

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