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Banks & Reviews | APY | Rate | Min to Earn APY |
---|---|---|---|
City National Bank (Savings) | 0.01% | 0.01% | $50 |
Tri Counties Bank (MMA) | 0.01% | 0.01% | $0 |
chase (Savings) | 0.01% | 0.01% | $0 |
First Technology Credit Union (Savings) | 0.01% | 0.01% | $5 |
US Bank (Savings) | 0.01% | 0.01% | $25 |
US Bank (Savings) | 0.01% | 0.01% | $25 |
Wells Fargo Bank (Savings) | 0.01% | 0.01% | $0 |
Wells Fargo Bank (MMA) | 0.01% | 0.01% | $0 |
USAA iCrossing ED (Savings) | 0.01% | 0.01% | $0 |
BMO Bank (Savings) | 0.01% | 0.01% | $0 |
US Bank (MMA) | 0.01% | 0.01% | $0 |
US Bank (MMA) | 0.01% | 0.01% | $0 |
Bank of America NA (Savings) | 0.01% | 0.01% | $0 |
The Park National Bank (Savings) | 0.01% | 0.01% | $300 |
Bank of Hope (Savings) | 0.01% | 0.01% | $0 |
Bank of Hope (MMA) | 0.01% | 0.01% | $0 |
Provident Savings Bank FSB (MMA) | 0.01% | 0.01% | $2,500 |
Banc of California NA (MMA) | 0.01% | 0.01% | $2,500 |
US Bank (MMA $10k) | 0.01% | 0.01% | $0 |
Tri Counties Bank (MMA $10k) | 0.01% | 0.01% | $0 |
US Bank (MMA $10k) | 0.01% | 0.01% | $0 |
Wells Fargo Bank (MMA $10k) | 0.01% | 0.01% | $0 |
Banc of California NA (MMA $10k) | 0.01% | 0.01% | $2,500 |
Mechanics Bank CA (MMA) | 0.02% | 0.02% | $100 |
Comerica Bank (MMA) | 0.02% | 0.02% | $1 |
Connexus Credit Union (Savings) | 0.02% | 0.02% | $100 |
Applied Bank (MMA) | 0.02% | 0.02% | $500 |
Citizens Business Bank (MMA) | 0.02% | 0.02% | $5,000 |
Comerica Bank (MMA $10k) | 0.02% | 0.02% | $1 |
Mechanics Bank CA (MMA $10k) | 0.02% | 0.02% | $100 |
Westamerica Bank (MMA) | 0.03% | 0.03% | $1,000 |
Citibank (Savings) | 0.03% | 0.03% | $0 |
Armed Forces Bank (Savings) | 0.03% | 0.03% | $0 |
Farmers and Merchants Bank of Long Beach (MMA) | 0.03% | 0.03% | $0 |
Provident Savings Bank FSB (MMA $10k) | 0.03% | 0.03% | $10,000 |
El Dorado Savings Bank (MMA $10k) | 0.03% | 0.03% | $5,000 |
El Dorado Savings Bank (MMA) | 0.03% | 0.03% | $5,000 |
Bank of the Sierra (MMA) | 0.04% | 0.04% | $2,500 |
Universal Bank (Savings) | 0.04% | 0.04% | $0 |
Bank of the Sierra (MMA $10k) | 0.04% | 0.04% | $2,500 |
Fremont Bank (MMA) | 0.05% | 0.05% | $2,500 |
Citizens Trust Bank (Savings) | 0.05% | 0.05% | $100 |
The Golden 1 CU (MMA) | 0.05% | 0.05% | $0 |
Malaga Bank FSB (MMA) | 0.05% | 0.05% | $100 |
Malaga Bank FSB (Savings) | 0.05% | 0.05% | $100 |
Oak Valley Community Bank (Savings) | 0.05% | 0.05% | $0 |
Applied Bank (Savings) | 0.05% | 0.05% | $100 |
Luana Savings Bank (Savings) | 0.05% | 0.05% | $100 |
San Diego County CU - editorial (Savings) | 0.05% | 0.05% | $100 |
Pacific Premier Bank (MMA) | 0.05% | 0.05% | $1 |
Union Bank (Savings) | 0.05% | 0.05% | $0 |
Washington Savings Bank (Savings) | 0.05% | 0.05% | $10 |
America First FCU (Savings) | 0.05% | 0.05% | $1 |
The Golden 1 CU (Savings) | 0.05% | 0.05% | $0 |
Montecito Bank and Trust (MMA) | 0.05% | 0.05% | $0 |
United Fidelity Bank (Savings) | 0.05% | 0.05% | $250 |
Oak Valley Community Bank (MMA) | 0.05% | 0.05% | $0 |
The Park National Bank (MMA) | 0.05% | 0.05% | $2,500 |
OneUnited Bank (MMA) | 0.05% | 0.05% | $500 |
Montecito Bank and Trust (MMA $10k) | 0.05% | 0.05% | $0 |
Fremont Bank (MMA $10k) | 0.05% | 0.05% | $2,500 |
First Citizens Bank (MMA $10k) | 0.05% | 0.05% | $0 |
Malaga Bank FSB (MMA $10k) | 0.05% | 0.05% | $100 |
Citizens Business Bank (MMA $10k) | 0.05% | 0.05% | $5,000 |
Cathay Bank (MMA $10k) | 0.05% | 0.05% | $0 |
FirstBank (MMA $10k) | 0.05% | 0.05% | $0 |
Farmers and Merchants Bank of Long Beach (MMA $10k) | 0.05% | 0.05% | $10,000 |
Pacific Premier Bank (MMA $10k) | 0.05% | 0.05% | $1 |
San Diego County CU - editorial (MMA $10k) | 0.05% | 0.05% | $100 |
Cathay Bank (MMA) | 0.05% | 0.05% | $0 |
San Diego County CU - editorial (MMA) | 0.05% | 0.05% | $100 |
HCN Bank (MMA) | 0.05% | 0.05% | $0 |
United Fidelity Bank (MMA) | 0.05% | 0.05% | $1,000 |
Washington Savings Bank (MMA) | 0.05% | 0.05% | $10 |
Universal Bank (MMA) | 0.05% | 0.05% | $1,000 |
FirstBank (MMA) | 0.05% | 0.05% | $0 |
First Citizens Bank (MMA) | 0.05% | 0.05% | $0 |
Westamerica Bank (MMA $10k) | 0.06% | 0.06% | $1,000 |
Sterling Bank and Trust FSB (Savings) | 0.10% | 0.10% | $0 |
Schools First Federal Credit Union (Savings) | 0.10% | 0.10% | $5 |
Global Credit Union (Savings) | 0.10% | 0.10% | $50 |
First Federal Savings and Loan Association of San Rafael (Savings) | 0.10% | 0.10% | $0 |
First Citizens Bank (Savings) | 0.10% | 0.10% | $50 |
Gateway Bank FSB (Savings) | 0.10% | 0.10% | $500 |
First Foundation Bank (MMA) | 0.10% | 0.10% | $500 |
First Foundation Bank (MMA $10k) | 0.10% | 0.10% | $500 |
United Fidelity Bank (MMA $10k) | 0.10% | 0.10% | $10,000 |
HCN Bank (MMA $10k) | 0.10% | 0.10% | $0 |
Citizens Trust Bank (MMA) | 0.10% | 0.10% | $1,000 |
Universal Bank (MMA $10k) | 0.10% | 0.10% | $2,500 |
CIBC Bank USA (MMA) | 0.15% | 0.15% | $1 |
Charles Schwab Bank (Savings) | 0.15% | 0.15% | $0 |
Charles Schwab Bank (savings_jumbo 0) | 0.15% | 0.15% | $0 |
First Technology Credit Union (MMA) | 0.15% | 0.15% | $0 |
Presidential Bank FSB (MMA) | 0.15% | 0.15% | $1,000 |
Sterling Bank and Trust FSB (MMA $10k) | 0.15% | 0.15% | $0 |
First Technology Credit Union (MMA $10k) | 0.15% | 0.15% | $0 |
Sterling Bank and Trust FSB (MMA) | 0.15% | 0.15% | $0 |
Global Credit Union (MMA) | 0.20% | 0.20% | $5,000 |
First Northern Bank of Dixon (MMA) | 0.20% | 0.20% | $2,500 |
Connexus Credit Union (MMA) | 0.25% | 0.25% | $1,000 |
Northpointe Bank (Savings) | 0.25% | 0.25% | $100 |
Lone Star Bank (MMA) | 0.25% | 0.25% | $0 |
WebBank (Savings) | 0.25% | 0.25% | $1,000 |
AxosBank (MMA) | 0.25% | 0.25% | $0 |
Global Credit Union (MMA $10k) | 0.25% | 0.25% | $10,000 |
Gateway Bank FSB (MMA) | 0.25% | 0.25% | $2,500 |
Northpointe Bank (MMA) | 0.25% | 0.25% | $2,500 |
CIBC Bank USA (MMA $10k) | 0.25% | 0.25% | $10,000 |
WebBank (Savings $10k) | 0.25% | 0.25% | $1,000 |
AxosBank (MMA $10k) | 0.25% | 0.25% | $0 |
TABBank (MMA) | 0.25% | 0.25% | $0 |
First Northern Bank of Dixon (MMA $10k) | 0.30% | 0.30% | $2,500 |
Royal Business Bank (MMA) | 0.30% | 0.30% | $2,500 |
BECU (Savings) | 0.30% | 0.30% | $1 |
Lone Star Bank (Savings) | 0.30% | 0.30% | $0 |
Northpointe Bank (MMA $10k) | 0.35% | 0.34% | $5,000 |
River Valley Community Bank (MMA) | 0.38% | 0.38% | $1,000 |
5 Star Bank (MMA) | 0.40% | 0.40% | $1,000 |
OneUnited Bank (Savings) | 0.40% | 0.40% | $200 |
GTEFinancial (MMA) | 0.40% | 0.40% | $0 |
Amalgamated Bank (Savings) | 0.41% | 0.41% | $0 |
Royal Business Bank (MMA $10k) | 0.45% | 0.45% | $10,000 |
BECU (MMA) | 0.45% | 0.45% | $0 |
River Valley Community Bank (MMA $10k) | 0.47% | 0.47% | $10,000 |
Bank of Marin (MMA) | 0.50% | 0.50% | $1,000 |
Presidential Bank FSB (Savings) | 0.50% | 0.50% | $500 |
Redwood Capital Bank (MMA) | 0.50% | 0.50% | $1 |
Bank of Marin (MMA $10k) | 0.50% | 0.50% | $1,000 |
City National Bank (MMA) | 0.50% | 0.50% | $2,500 |
City National Bank (MMA $10k) | 0.50% | 0.50% | $2,500 |
Amalgamated Bank (MMA $10k) | 0.60% | 0.60% | $0 |
Amalgamated Bank (MMA) | 0.60% | 0.60% | $0 |
AxosBank (Savings) | 0.61% | 0.61% | $0 |
GTEFinancial (MMA $10k) | 0.65% | 0.65% | $10,000 |
GTEFinancial (Savings) | 0.75% | 0.75% | $100 |
5 Star Bank (Savings) | 0.75% | 0.75% | $0 |
Schools First Federal Credit Union (MMA) | 0.75% | 0.75% | $2,000 |
Bank of Stockton (MMA) | 0.75% | 0.75% | $100 |
Redwood Capital Bank (MMA $10k) | 0.75% | 0.75% | $1 |
Bank of Stockton (MMA $10k) | 0.75% | 0.75% | $100 |
BMO Bank (MMA $10k) | 0.80% | 0.80% | $0 |
BMO Bank (MMA) | 0.80% | 0.80% | $0 |
First Internet Bank of Indiana (Savings) | 0.81% | 0.80% | $0 |
Goldwater Bank (MMA) | 1.00% | 1.00% | $0 |
Armed Forces Bank (MMA) | 1.00% | 1.00% | $0 |
Goldwater Bank (Savings) | 1.00% | 1.00% | $0 |
America First FCU (MMA) | 1.00% | 1.00% | $0 |
KS StateBank (MMA) | 1.00% | 1.00% | $2,500 |
West Coast Community Bank (MMA) | 1.00% | 1.00% | $5,000 |
KS StateBank (MMA $10k) | 1.00% | 1.00% | $2,500 |
West Coast Community Bank (MMA $10k) | 1.00% | 1.00% | $5,000 |
The Golden 1 CU (MMA $10k) | 1.00% | 1.00% | $10,000 |
BECU (MMA $10k) | 1.00% | 1.00% | $10,000 |
Gateway Bank FSB (MMA $10k) | 1.10% | 1.09% | $10,000 |
VioBank (Savings) | 1.10% | 1.09% | $0 |
America First FCU (MMA $10k) | 1.30% | 1.29% | $10,000 |
BanescoUSA (Savings) | 1.35% | 1.34% | $300 |
BankFive (Savings) | 1.50% | 1.49% | $100 |
BankPurely (Savings) | 1.50% | 1.49% | $100 |
CIT Bank (MMA) | 1.55% | 1.54% | $100 |
Stride Bank (Savings) | 2.00% | 1.98% | $0 |
Synchrony Bank (MMA) | 2.00% | 1.98% | $0 |
EverBank (MMA) | 2.02% | 2.00% | $0 |
Luana Savings Bank (MMA) | 2.48% | 2.45% | $0 |
Varo Bank (Savings) | 2.50% | 2.47% | $0 |
First National Bank of America (Savings) | 2.51% | 2.48% | $1,000 |
NBKC Bank (MMA) | 3.00% | 2.96% | $0 |
Star One Credit Union (Savings) | 3.25% | 3.20% | $5 |
Star One Credit Union (MMA) | 3.25% | 3.20% | $50 |
Beal Bank (MMA) | 3.25% | 3.20% | $1,000 |
Star One Credit Union (MMA $10k) | 3.25% | 3.20% | $50 |
Beal Bank (MMA $10k) | 3.25% | 3.20% | $1,000 |
FNBO (Savings) | 3.35% | 3.30% | $0 |
LendingClub (Savings) | 3.40% | 3.35% | $0 |
Discover Bank (MMA) | 3.50% | 3.44% | $0 |
BMO Alto (Savings) | 3.60% | 3.54% | $0 |
FNBO (MMA) | 3.60% | 3.54% | $0 |
Discover Bank (Savings) | 3.60% | 3.54% | $0 |
Ally (Savings) | 3.60% | 3.54% | $0 |
Ally (MMA) | 3.60% | 3.54% | $0 |
First Internet Bank of Indiana (MMA) | 3.61% | 3.55% | $0 |
American Express National (Savings) | 3.70% | 3.63% | $0 |
CitizensAccess (Savings) | 3.70% | 3.63% | $0 |
Northern Bank and Trust Company (MMA) | 3.75% | 3.68% | $5,000 |
WesternStateBank (MMA) | 3.75% | 3.68% | $0 |
Beal Bank (Savings) | 3.75% | 3.70% | $500 |
MySavingsDirect (Savings) | 3.75% | 3.68% | $0 |
DollarSavingsDirect (Savings) | 3.75% | 3.68% | $0 |
Quorum Federal Credit Union (Savings) | 3.75% | 3.69% | $0 |
Valley Bank (Savings) | 3.75% | 3.68% | $0 |
QuonticBank (Savings) | 3.85% | 3.78% | $1 |
Sallie Mae (MMA) | 3.90% | 3.83% | $0 |
PNC Bank (Savings) | 3.95% | 3.95% | $0 |
iGObanking (MMA $25k) | 4.00% | 3.92% | $25,000 |
BankPurely (MMA $25k) | 4.00% | 3.92% | $25,000 |
BanescoUSA (MMA) | 4.00% | 3.92% | $2,500 |
VirtualBank, a division of First Horizon Bank (MMA) | 4.00% | 3.93% | $0 |
Morgan Stanley Private Bank (Savings) | 4.00% | 3.92% | $0 |
Synchrony Bank (Savings) | 4.00% | 3.92% | $0 |
Salem Five Direct (Savings) | 4.01% | 3.94% | $0 |
UFBDirect (MMA) | 4.01% | 3.93% | $0 |
UFBDirect (Savings) | 4.01% | 3.93% | $0 |
Popular Direct (Savings) | 4.05% | 3.97% | $0 |
CIT Bank (Savings) | 4.10% | 4.10% | $5,000 |
Berkshire Bank (MMA) | 4.10% | 4.10% | $0 |
Barclays (Savings) | 4.10% | 4.02% | $0 |
Barclays (Savings) | 4.15% | 4.15% | $0 |
Bask Bank (Savings) | 4.20% | 4.11% | $0 |
Jenius Bank (Savings) | 4.20% | 4.11% | $0 |
Live Oak Bank (Savings) | 4.20% | 4.11% | $0 |
CIBC Bank USA (Savings) | 4.21% | 4.13% | $1 |
MYSafra Bank FSB (MMA) | 4.25% | 4.16% | $5,000 |
Western Alliance Bank (Savings) | 4.25% | 4.16% | $0 |
QuonticBank (MMA) | 4.25% | 4.16% | $1 |
Forbright Bank (Savings) | 4.25% | 4.25% | $0 |
TABBank (Savings) | 4.26% | 4.17% | $0 |
Rising Bank (Savings) | 4.30% | 4.22% | $1,000 |
CFGCommunityBank (MMA) | 4.32% | 4.23% | $1,000 |
Primis Bank (Savings) | 4.35% | 4.26% | $0 |
VioBank (MMA) | 4.36% | 4.36% | $0 |
LendingClub (Savings) | 4.40% | 4.31% | $0 |
My Banking Direct (Savings) | 4.40% | 4.40% | $1 |
Openbank (Savings) | 4.40% | 4.31% | $500 |
Bread Savings (Savings) | 4.40% | 4.31% | $0 |
BrioDirect (Savings) | 4.45% | 4.35% | $25 |
Peak Bank (Savings) | 4.54% | 4.44% | $0 |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.
Investing your money in the right type of account is important. Banks offer a variety of different accounts. These accounts vary in fees, interest rates, and opening balance requirements. Some accounts also limit the number of times you can access your money. To find the best account for your needs, know the difference between accounts offered.
A checking account allows for multiple daily access to your money. Some checking accounts earn interest, but not all. Checks and debit cards are available to use the money in checking accounts.
A savings account is the most basic savings option offered by a financial institution. Most banks offer at least one savings account. Federal regulations only allow six withdrawals each month from a savings account. You cannot write checks from a savings account.
A money market account is similar to a savings account. You can write checks just like a checking account but are limited to six withdrawals per month.
A certificate of deposit is a long-term savings strategy. CDs are created to earn higher interest rates based on their term length. Terms range from one week to many years. Breaking a term by withdrawing the investment early—before term maturity—will result in a fee that is different per bank. Jumbo CDs earn higher interest, though require a large investment.
High yield saving, checking, MMA, and CD accounts offer considerably higher interest rates. Local brick-and-mortar banks often do not offer competitive rates. These institutions offer other benefits to draw new members. Online banks, however, offer high yield interest to attract members. The banks that BankTruth represents are high yield interest accounts. Some of these will require a larger account balance to earn the interest, though just as many do not require anything special.
Different banks offer different interest rates on all account types. The higher the interest rates, the more money you earn. For example, high yield savings accounts generally earn more than 1.00%. Typical savings accounts only earn 0.01%. If you have $1,000 invested in both accounts, the account with 0.01% interest will earn $0.10 in one year. The high yield account offering 1.00% will earn $10 in one year.
Fees for these accounts depend on the bank and the account type. The monthly fees for accounts should offer ways to waive the monthly fees. Keeping a certain amount in the account or signing up for direct deposit are two common ways to waive fees. Be sure you know the account fees, and the ways to waive the fees before you open an account. Some accounts do not have any fees.
Most banks offer some online and mobile banking, allowing you to see account balances and make transfers or deposits. You can pay bills, turn your debit card on and off, and set up account alerts. Some online banking allows you to make a budget to better track your spending habits.
Where most banks offer some form of online banking, some banks are online only. These banks have no local branches. Online only banks generally have high-interest rates and few to no fees. Since they are not paying for buildings, they pass the savings onto the customer. Everything for your account is online, including opening the account and making transfers. Online only banks generally require you to set up the account with an external bank. This enables you to make transfers to and from the online-only account.
When opening an online account, choose between opening the account in your name or a joint account. Typically you open a joint account with another family member or your spouse. If a person is not 18 years or older, a parent or guardian will have to cosign to open the account with them. You can open these accounts as joint accounts or custodial accounts. A custodial account means the parent controls the account until the child is 18.
To open an account online, you will need the following information:
Some banks might ask about your other bank accounts, employment, and income. If you are opening a joint account, you will need the above information for both names listed on the account.
Banks allow you to open more than one of a specific type of account. A beneficial feature if you are saving for some specific, such as a vacation or large purchase. Most banks have specific accounts for college, retirement funds, children, and teens.
When opening an account, be sure the bank is FDIC insured. FDIC stands for the Federal Deposit Insurance Corporation. It is a government corporation of the United States of America. Investing your money in a bank that is FDIC insured means your money is protected up to $250,000 per bank. If the bank were to fail, you will not lose your investment. The NCUA protects credit unions the same way the FDIC protects banks.
To find the best account depends on the access you need to your money. If you have money you can set aside for a long time, a CD will earn the best interest rates. If you need more access to your money, consider one of the other accounts. The more you can invest and leave alone, the more interest you will earn.
Online only accounts generally have higher interest rates than typical banks. Look into all the different bank options to find the bank and account that best fits your needs. Be sure to know the interest rate on the account as well as the fees.
Promoted offer: It only takes about 5 minutes to open a fee-free account.