Savings & Money Market Rates 2024

FDIC Insured up to $250,000  •  National rate is 0.06%  •  October 15th, 2024

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Savings (Rate as of 10/15/2024)
4.10%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.02%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
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Member FDIC
Savings (Rate as of 10/15/2024)
5.25%APY
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  • Min to Open: $500
  • Min to Earn APY: $500
  • Rate: 5.25%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC
Savings (Rate as of 10/15/2024)
4.10%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.10%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
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Member FDIC It only takes about 5 minutes to open a fee-free account.
Savings (Rate as of 10/15/2024)
5.05%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.92%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC No monthly maintenance fee, $0 to open, easily grow your money
Savings (Rate as of 10/15/2024)
4.96%APY
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  • Min to Open: $500
  • Min to Earn APY: $0
  • Rate: 4.96%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC
Savings (Rate as of 10/15/2024)
4.50%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.50%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
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Member FDIC
Savings (Rate as of 10/15/2024)
4.60%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.50%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC
MMA (Rate as of 10/15/2024)
4.20%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.11%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: Yes
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Member FDIC
Savings (Rate as of 10/15/2024)
5.00%APY
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  • Min to Open: $1,000
  • Min to Earn APY: $1,000
  • Rate: 4.88%
  • Monthly Fee: $5.00
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC
Savings (Rate as of 10/15/2024)
5.07%APY
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  • Min to Open: $100
  • Min to Earn APY: $100
  • Rate: 5.07%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC
Savings (Rate as of 10/15/2024)
5.00%APY
Star Icon Star Icon Star Icon Star Icon Star Icon
  • Min to Open: $10
  • Min to Earn APY: $0
  • Rate: 5.00%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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FDIC insured at program banks† var. APY a/o 9/20/24. New customers only. Betterment LLC, not a bank
Savings (Rate as of 10/15/2024)
4.73%APY
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  • Min to Open: $25,000
  • Min to Earn APY: $25,000
  • Rate: 4.63%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC
Savings (Rate as of 10/15/2024)
4.50%APY
Star Icon Star Icon Star Icon Star Icon Star Icon
  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.50%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
No Review
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Member FDIC In App
Savings (Rate as of 10/15/2024)
4.20%APY
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  • Min to Open: $0
  • Min to Earn APY: $0
  • Rate: 4.11%
  • No Monthly Fees
  • Min to Avoid Fee: $0
  • Write Checks: No
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Member FDIC
Other Banks
Rates as of October 15th, 2024
Banks & Reviews APY Rate Min to Earn APY
Truist (MMA $10k) 0.01% 0.01% $0
Amerant Bank (MMA $10k) 0.01% 0.01% $0
Bank of Hope (MMA) 0.01% 0.01% $0
Bank of Hope (Savings) 0.01% 0.01% $0
Bank of America (Savings) 0.01% 0.01% $0
Amerant Bank (MMA) 0.01% 0.01% $0
Union Bank (Michigan) (Savings) 0.01% 0.01% $0
Truist (Savings) 0.01% 0.01% $0
Truist (MMA) 0.01% 0.01% $0
Wells Fargo (Savings) 0.01% 0.01% $0
USAA Federal Savings Bank (Savings) 0.01% 0.01% $0
TD Bank, NA (Savings) 0.02% 0.02% $0
Applied Bank (MMA) 0.02% 0.02% $0
TD Bank, NA (Savings $10k) 0.02% 0.02% $0
TD Bank, NA (Savings $25k) 0.02% 0.02% $0
Armed Forces Bank, N.A. (Savings $25k) 0.03% 0.03% $0
Armed Forces Bank, N.A. (Savings $10k) 0.03% 0.03% $0
Armed Forces Bank, N.A. (Savings) 0.03% 0.03% $0
Langley FCU (MMA) 0.05% 0.05% $0
America First FCU (Savings) 0.05% 0.05% $0
Northwest Federal Credit Union (Savings) 0.05% 0.05% $0
State Department Federal Credit Union (Savings) 0.05% 0.05% $0
Wells Fargo (MMA) 0.05% 0.05% $0
Washington Savings Bank (Savings) 0.05% 0.05% $0
Amerant Bank (Savings) 0.05% 0.05% $0
Wells Fargo (MMA) 0.05% 0.05% $0
United Bank (Savings) 0.05% 0.05% $0
Pendleton Community Bank, Inc. (Savings) 0.05% 0.05% $0
Applied Bank (Savings) 0.05% 0.05% $0
Pendleton Community Bank, Inc. (Savings $10k) 0.05% 0.05% $0
Langley FCU (Savings) 0.05% 0.05% $0
Old Dominion National Bank (Savings) 0.05% 0.05% $0
Pendleton Community Bank, Inc. (Savings $25k) 0.05% 0.05% $0
State Department Federal Credit Union (Savings $25k) 0.05% 0.05% $0
Langley FCU (Savings $25k) 0.05% 0.05% $0
Northwest Federal Credit Union (Savings $25k) 0.05% 0.05% $0
State Department Federal Credit Union (Savings $10k) 0.05% 0.05% $0
Langley FCU (Savings $10k) 0.05% 0.05% $0
Northwest Federal Credit Union (Savings $10k) 0.05% 0.05% $0
Wells Fargo (MMA $10k) 0.05% 0.05% $0
Washington Savings Bank (MMA) 0.05% 0.05% $0
Bethpage Federal Credit Union (Savings $10k) 0.10% 0.10% $0
Schools First FCU (Savings) 0.10% 0.10% $0
Bethpage Federal Credit Union (Savings) 0.10% 0.10% $0
Apple Federal Credit Union (Savings) 0.10% 0.10% $0
Connexus Credit Union (Savings) 0.10% 0.10% $0
Schools First FCU (Savings $10k) 0.10% 0.10% $0
Old Dominion National Bank (Savings $10k) 0.10% 0.10% $0
Apple Federal Credit Union (Savings $10k) 0.10% 0.10% $0
Union Bank (Michigan) (Savings $10k) 0.10% 0.10% $0
Schools First FCU (Savings $25k) 0.10% 0.10% $0
Bethpage Federal Credit Union (Savings $25k) 0.10% 0.10% $0
Apple Federal Credit Union (Savings $25k) 0.10% 0.10% $0
Old Dominion National Bank (Savings $25k) 0.10% 0.10% $0
Langley FCU (MMA $10k) 0.15% 0.15% $0
CIBC Bank USA (MMA) 0.15% 0.15% $0
Union Bank (Michigan) (Savings $25k) 0.15% 0.15% $0
Sandy Spring Bank (MMA) 0.25% 0.25% $0
Charles Schwab Bank (Savings) 0.25% 0.25% $0
TAB Bank (MMA) 0.25% 0.25% $0
Sandy Spring Bank (Savings) 0.25% 0.25% $0
Northpointe Bank (Savings) 0.25% 0.25% $0
Lone Star Bank (MMA) 0.25% 0.25% $0
Presidential Bank, FSB (MMA) 0.25% 0.25% $0
Axos Bank (MMA) 0.25% 0.25% $0
WebBank (Savings) 0.25% 0.25% $0
Connexus Credit Union (MMA) 0.25% 0.25% $0
Northpointe Bank (MMA) 0.25% 0.25% $0
Union Bank (Michigan) (MMA) 0.25% 0.25% $0
Axos Bank (MMA $10k) 0.25% 0.25% $0
CIBC Bank USA (MMA $10k) 0.25% 0.25% $0
Sandy Spring Bank (MMA $10k) 0.25% 0.25% $0
Sandy Spring Bank (Savings $10k) 0.25% 0.25% $0
Union Bank (Michigan) (MMA $10k) 0.25% 0.25% $0
Sandy Spring Bank (MMA $25k) 0.25% 0.25% $0
Sandy Spring Bank (Savings $25k) 0.25% 0.25% $0
Union Bank (Michigan) (MMA $25k) 0.25% 0.25% $0
First Horizon Bank (Savings) 0.30% 0.30% $0
Lone Star Bank (Savings) 0.30% 0.30% $0
Presidential Bank, FSB (MMA $10k) 0.30% 0.30% $0
First Horizon Bank (Savings $10k) 0.30% 0.30% $0
First Horizon Bank (Savings $25k) 0.30% 0.30% $0
Woodforest National Bank (MMA $25k) 0.35% 0.35% $0
Northpointe Bank (Savings $10k) 0.35% 0.34% $0
Northpointe Bank (MMA $10k) 0.35% 0.34% $0
Woodforest National Bank (MMA $10k) 0.35% 0.35% $0
Woodforest National Bank (Savings) 0.35% 0.35% $0
Woodforest National Bank (MMA) 0.35% 0.35% $0
First Horizon Bank (MMA $25k) 0.40% 0.40% $0
First Horizon Bank (MMA $10k) 0.40% 0.40% $0
First Horizon Bank (MMA) 0.40% 0.40% $0
GTE Financial Credit Union (MMA) 0.40% 0.40% $0
Boeing Employees Credit Union (Savings) 0.40% 0.40% $0
Langley FCU (MMA $25k) 0.45% 0.45% $0
Woodforest National Bank (Savings $25k) 0.50% 0.50% $0
Bethpage Federal Credit Union (MMA $25k) 0.50% 0.50% $0
Woodforest National Bank (Savings $10k) 0.50% 0.50% $0
Bethpage Federal Credit Union (MMA $10k) 0.50% 0.50% $0
Bethpage Federal Credit Union (MMA) 0.50% 0.50% $0
Presidential Bank, FSB (Savings) 0.50% 0.50% $0
Apple Federal Credit Union (MMA) 0.50% 0.50% $0
Amalgamated Bank (Savings) 0.56% 0.56% $0
Fulton Bank, NA (MMA) 0.60% 0.60% $0
Axos Bank (Savings) 0.61% 0.61% $0
Northwest Federal Credit Union (MMA) 0.64% 0.64% $0
Northwest Federal Credit Union (MMA $10k) 0.64% 0.64% $0
GTE Financial Credit Union (MMA $10k) 0.65% 0.65% $0
Northwest Federal Credit Union (MMA $25k) 0.72% 0.72% $0
Amalgamated Bank (MMA $10k) 0.75% 0.75% $0
Schools First FCU (MMA) 0.75% 0.75% $0
FinWise Bank (MMA) 0.75% 0.75% $0
FinWise Bank (Savings) 0.75% 0.75% $0
Amalgamated Bank (MMA) 0.75% 0.75% $0
GTE Financial Credit Union (Savings) 0.75% 0.75% $0
Boeing Employees Credit Union (MMA) 0.75% 0.75% $0
First Internet Bank of Indiana (Savings) 0.81% 0.80% $0
Fulton Bank, NA (MMA $10k) 0.94% 0.94% $0
Schools First FCU (MMA $10k) 1.00% 0.99% $0
Old Dominion National Bank (MMA) 1.00% 1.00% $0
Old Dominion National Bank (MMA $25k) 1.00% 1.00% $0
Old Dominion National Bank (MMA $10k) 1.00% 1.00% $0
Schools First FCU (MMA $25k) 1.00% 0.99% $0
Armed Forces Bank, N.A. (MMA) 1.06% 1.05% $0
Vio Bank (Savings) 1.10% 1.09% $0
Fulton Bank, NA (MMA $25k) 1.15% 1.14% $0
Armed Forces Bank, N.A. (MMA $10k) 1.15% 1.14% $0
State Department Federal Credit Union (MMA) 1.21% 1.20% $0
State Department Federal Credit Union (MMA $10k) 1.21% 1.20% $0
Armed Forces Bank, N.A. (MMA $25k) 1.25% 1.24% $0
State Department Federal Credit Union (MMA $25k) 1.26% 1.25% $0
Banesco USA (Savings) 1.35% 1.34% $0
BankPurely, a division of Flushing Bank (Savings) 1.50% 1.49% $0
Bank5 Connect (Savings) 1.50% 1.49% $0
America First FCU (MMA) 1.50% 1.49% $0
Boeing Employees Credit Union (MMA $10k) 1.51% 1.50% $0
Amalgamated Bank (Savings $25k) 1.51% 1.50% $0
Amalgamated Bank (Savings $10k) 1.51% 1.50% $0
FinWise Bank (MMA $10k) 1.51% 1.50% $0
CIT Bank, N.A (MMA) 1.55% 1.54% $0
Apple Federal Credit Union (MMA $10k) 1.55% 1.54% $0
Apple Federal Credit Union (MMA $25k) 1.60% 1.59% $0
America First FCU (MMA $10k) 1.70% 1.69% $0
Virginia Credit Union (MMA $10k) 1.75% 1.74% $0
Virginia Credit Union (MMA $25k) 2.25% 2.23% $0
Synchrony Bank (MMA) 2.25% 2.22% $0
Pendleton Community Bank, Inc. (MMA $25k) 2.75% 2.75% $0
Varo Bank (Savings) 3.00% 2.96% $0
Northpointe Bank (Savings $25k) 3.25% 3.20% $0
Northpointe Bank (MMA $25k) 3.25% 3.20% $0
EverBank (MMA) 3.75% 3.68% $0
EverBank (MMA) 3.75% 3.68% $0
EverBank (MMA) 3.75% 3.68% $0
EverBank (MMA) 3.75% 3.68% $0
First Internet Bank of Indiana (MMA) 3.77% 3.70% $0
Discover Bank (MMA) 3.90% 3.83% $0
Quorum Federal Credit Union (Savings) 4.00% 3.93% $0
Ally Bank (MMA) 4.00% 3.92% $0
Ally Bank (Savings) 4.00% 3.92% $0
Discover Bank (Savings) 4.10% 4.02% $0
Citizens Access (Savings) 4.15% 4.07% $0
Morgan Stanley Private Bank (Savings) 4.25% 4.16% $0
FNBO Direct (Savings) 4.25% 4.17% $0
Valley Direct (Savings) 4.25% 4.16% $0
BankPurely, a division of Flushing Bank (MMA) 4.25% 4.16% $0
Synchrony Bank (Savings) 4.30% 4.21% $0
Synchrony Bank (Savings) 4.30% 4.30% $0
Live Oak Bank (Savings) 4.30% 4.21% $0
Western State Bank (MMA) 4.50% 4.40% $0
Rising Bank (Savings) 4.50% 4.41% $0
Quontic Bank (Savings) 4.50% 4.40% $0
TAB Bank (Savings) 4.52% 4.42% $0
UFB Direct (Savings) 4.57% 4.47% $0
UFB Direct (MMA) 4.57% 4.47% $0
CIBC Bank USA (Savings) 4.61% 4.52% $0
CIT Bank, N.A (Savings) 4.70% 4.59% $0
Banesco USA (MMA) 4.75% 4.64% $0
VirtualBank, a division of First Horizon Bank (MMA) 4.75% 4.65% $0
Bread Savings (Savings) 4.75% 4.75% $0
Primis Bank (Savings) 4.75% 4.64% $0
Northern Bank Direct, a div of Northern Bank & Trust Company (MMA) 4.85% 4.74% $0
Popular Direct (Savings) 4.85% 4.74% $0
Forbright Bank (Savings) 5.00% 5.00% $0
CFG Community Bank (MMA) 5.00% 4.88% $0
Quontic Bank (MMA) 5.00% 4.88% $0
Jenius Bank (Savings) 5.05% 4.93% $0
BrioDirect (Savings) 5.05% 4.93% $0
Vio Bank (MMA) 5.05% 4.93% $0
Patriot Bank (Savings) 5.25% 5.25% $1
MyBankingDirect, a service of Flagstar Bank, N.A. (Savings) 5.25% 5.25% $1
LendingClub (Savings) 5.30% 5.18% $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.

What are you looking for?

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.

Types of Accounts

Checking Account

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.

Savings Account

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.

Money Market Account (MMA)

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.

Certificate of Deposit (CD)

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 Accounts

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.

Rates and Fees

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.

Online Banking

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.

Opening an Online 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:

  • Address
  • Date of birth
  • Social Security Number
  • Driver license number or other government-issued ID
  • External bank routing number or debit card information
  • Email address

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.

FDIC Insured

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.

What Account Is Best?

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.