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Best Banks in America for Savings

FDIC Insured up to $250,000  •  National rate is 0.06%  •  Updated February 12th, 2016

Bank Account TypeAPYRateMinimumChanged
Applied Bank MMA0.02%0.02%$500.0002/12/2016
Astoria Bank MMA0.05%0.05%$2,500.0002/12/2016
USAA Savings0.05%0.05%$25.0002/12/2016
USAA MMA0.05%0.05%$10,000.0002/12/2016
Citizens Trust Bank MMA0.05%0.05%$100.0002/12/2016
Citizens Trust Bank Savings0.05%0.05%$1,000.0002/12/2016
Astoria Bank Savings0.05%0.05%$500.0002/12/2016
State Farm Bank Savings0.10%0.10%$100.0002/12/2016
American Bank Savings0.10%0.10%$100.0002/10/2016
5 Star Bank MMA0.10%0.10%$1,000.0002/12/2016
Applied Bank Savings0.10%0.10%$100.0002/12/2016
American Bank MMA0.10%0.10%$100.0002/10/2016
NewDominion Bank MMA0.15%0.15%$500.0002/12/2016
5 Star Bank Savings0.20%0.20%$100.0002/12/2016
Third Federal Savings and Loan Savings0.20%0.20%$25,000.0002/12/2016
Heritage Bank Savings0.25%0.25%$1,000.0002/12/2016
Goldwater Bank MMA0.26%0.26%$1,000.0002/12/2016
State Farm Bank MMA0.30%0.30%$1,000.0002/12/2016
giantbank.com MMA0.45%0.45%$1,000.0002/12/2016
AloStar Bank of Commerce Savings0.50%0.50%$50.0002/12/2016
AloStar Bank of Commerce MMA0.50%0.50%$1,000.0002/12/2016
Lone Star Bank Savings0.50%0.50%$200.0002/12/2016
EH National Bank Savings0.55%0.55%$1,000.0002/12/2016
First Internet Bank of Indiana Savings0.60%0.60%$100.0002/12/2016
VirtualBank MMA0.65%0.65%$100.0002/12/2016
Capital One 360 Savings0.75%0.75%$0.0002/12/2016
EH National Bank MMA0.80%0.80%$1,000.0002/12/2016
Discover Bank MMA0.80%0.80%$2,500.0002/12/2016
Lone Star Bank MMA0.80%0.80%$2,500.0002/12/2016
First Internet Bank of Indiana MMA0.80%0.80%$100.0002/12/2016
MyCBB MMA0.83%0.83%$100.0002/12/2016
Synchrony Bank MMA0.85%0.85%$0.0002/12/2016
Mutual of Omaha Bank MMA0.85%0.85%$1,000.0002/12/2016
Colorado Federal Savings Bank Savings0.85%0.85%$2,500.0002/12/2016
FNBO Direct Savings0.95%0.95%$1.0002/12/2016
Discover Bank Savings0.95%0.95%$500.0002/12/2016
iGObanking.com Savings1.00%1.00%$1.0002/12/2016
Barclays Savings1.00%1.00%$0.0002/12/2016
My Savings Direct Savings1.00%1.00%$1.0002/12/2016
CIT Bank Savings1.00%0.99%$100.0002/12/2016
ableBanking, a division of Northeast Bank MMA1.00%1.00%$250.0002/12/2016
GE Capital Bank Savings1.05%1.04%$0.0002/12/2016
Synchrony Bank Savings1.05%1.04%$0.0002/12/2016
Dime Savings Bank of Williamsburgh MMA1.10%1.09%$1,000.0002/12/2016
iGObanking.com MMA1.10%1.09%$25,000.0002/12/2016
Northeast Bank MMA1.10%1.09%$5,000.0002/12/2016
Silvergate Bank MMA1.11%1.10%$1,000.0002/12/2016
North American Savings Bank, FSB Savings1.12%1.11%$100.0002/10/2016

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

EverBank

1.11

%APY

0.01

%APY

EverBank

To Open$1,500.00Review
APY1.11%Updated02/12/2016
Rate0.61%TypeMMA

Learn more about this bank!

Bank of America

To Open$25.00Review
APY0.01%Updated02/12/2016
Rate0.01%TypeSavings
Ally Bank

1.00

%APY

0.01

%APY

Ally Bank

To Open$0.00Review
APY1.00%Updated02/12/2016
Rate1.00%TypeSavings

Learn more about this bank!

Chase Bank

To Open$25.00Review
APY0.01%Updated02/12/2016
Rate0.01%TypeSavings
Fultdirect.com

0.10

%APY

0.01

%APY

Fultdirect.com

To Open$10,000.00Review
APY0.10%Updated02/12/2016
Rate0.10%TypeMMA

Learn more about this bank!

citibank

To Open$0.00Review
APY0.01%Updated02/12/2016
Rate0.01%TypeSavings
American Express Bank, FSB

0.90

%APY

0.01

%APY

American Express Bank, FSB

To Open$0.00Review
APY0.90%Updated02/12/2016
Rate0.90%TypeSavings

Learn more about this bank!

USBank

To Open$25.00Review
APY0.01%Updated02/12/2016
Rate0.01%TypeSavings
Sallie Mae

0.90

%APY

0.01

%APY

Sallie Mae

To Open$0.00Review
APY0.90%Updated02/12/2016
Rate0.90%TypeMMA

Learn more about this bank!

Wells Fargo

To Open$25.00Review
APY0.01%Updated02/12/2016
Rate0.01%TypeSavings
Capital One 360

0.75

%APY

0.05

%APY

Capital One 360

To Open$1.00Review
APY0.75%Updated02/12/2016
Rate0.75%TypeSavings

Learn more about this bank!

USAA

To Open$25.00Review
APY0.05%Updated02/12/2016
Rate0.05%TypeSavings

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 18.5 times higher than the national average.

1.11% 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 $22.20 a year. For a 15 minute investment, that's making the equivalent of $88.80 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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