Savings Rates and Money Market Account RatesSavings account rates: Search and compare the best savings account rates and the best money market account rates from banks and credit unions. You can search for the highest interest savings rates and MMA rates in the state you live in or by the zip you live in. Once you have entered your search criteria a list of the top savings accounts rates and money market account rates will be displayed. Most savings account interest rates displayed are for regular savings accounts or for Individual Retirement Account (IRA) savings accounts.Long term bond rates have fallen the past two weeks because of the uncertainty in the equity markets worldwide. The markets first reacted negatively to the Federal Reserve tapering their monthly purchases and have also fallen on a very weak manufacturing report released this past Monday. The Fed provided so much liquidity to the equity markets the past several years that changing these policies sent stock market prices lower across the globe. Now that the Fed is “taking the punch bowl away,” investors are selling equities and heading for the exits. The Dow fell more than 5 percent in January, its worst performance in several years. A safer place right now for your money is in good old fashioned deposit accounts. Don’t expect much of a return since rates are low but at least your principal is safe with the FDIC’s protection as long as you keep your deposits below $250,000. The best money market account rates and savings account rates are unchanged this week as long term bond yields fell. The best money market rates this week are at 0.90 percent and the best savings rates are at 1.00 percent this week. The best CD rates this week are slightly above those rates at 1.04 percent with an APY of 1.05 percent. Savings rates, money market rates, and CD rates are currently low and will remain near current levels until the Federal Reserve increases the fed funds rate. The new Fed “Chairperson,” Janet Yellen, took over the reins from Ben Bernanke this past Monday. Janet Yellen and Ben Bernanke’s policies are pretty much aligned, so analysts don’t expect any change in the Fed’s current policies. We don’t expect any across-the-board changes in deposit rates until sometime in 2015, which is when the Fed is expected to increase the fed funds rate. There will be some banks and credit unions increasing rates sometime in 2014, but don’t expect any large increases from current rate levels. Best Savings Rates at 1.00% APYThe best savings rate in our national rate database this week is from First Trade Union Bank at 1.00 percent with an APY of 1.00 percent. First Trade Union Bank has a minimum opening deposit of $2,500 for a savings account. This bank’s savings rate is considerably higher than the average savings rates this week, including the national average jumbo savings rate. We have several banks in our database offering savings rates at 0.90 percent, just below First Trade Union Bank’s rate. Barclays Bank, GE Capital Retail Bank, CIT Bank, and The Palladian PrivateBank are all offering a rate of 0.90 percent. Barclays Bank has no minimum opening balance for a savings account, GE Capital Retail Bank’s minimum opening deposit is $500, The Palladian PrivateBank has a minimum of $10,000, and CIT Bank’s minimum is $25,000.
|
Recent Savings Rate ArticlesCurrent Savings Rates Stable as Hiring Soars and Unemployment Rate Tumbles2014 Interest Rate Forecast: Low Rates for Savers, Higher Rates on MortgagesBest Money Market and Savings Rates February 6, 2014: Top Savings Rates at 1.00 PercentJanuary 2014 Savings Rates and Money Market Rate ListsTop Bank Deposit Rates This Week: Top Savings Rate at 1.00%, Top MMA at 0.90%Highest Bank Savings Rates and Money Market Rates November 2013Savings Rates and Money Market Rates Poised to Move Higher in 2014Future Direction of Savings Rates Depends on Debt Ceiling and Budget TalksWhen Will Savings Rates and Money Market Rates Move Higher?Best Credit Union Savings Rates in California at 1.50 APY with Caps and RestrictionsBond Yields Continue to Move Higher as Deposit Rates Languish Near Record LowsU.S. Bond Yields Soar in June as Savings Rates and Money Market Rates Remain LowWeekly Rundown of the Top Savings and Money Market RatesSavings Rates, Money Market Rates Will Increase in 2014Best Savings Rates This Week Remain Unchanged as Bond Yields DeclineCredit Union and Bank Savings Rates March 28, 2013FOMC Statement Points to Savings Account Rates Remaing Low for NowBest Savings Rates Unchanged as Sequestration Cuts Government SpendingCurrent Savings Rates Will Rise in 2014 Along With Bond YieldsAmerica Saves Week 2013: February 25 to March 3Savings AccountsBank Savings Account RatesCredit Union Savings RatesMortgage RatesMortgage RatesCD RatesBank CD RatesSavings Rate ArchivesSavings RateBank Savings RateCredit Union Savings RateSavings ResourcesCD RatesHistorical Savings RatesCapital One Bank Savings AccountBest Savings Account Rates & Money Market Account Rates Bank of Internet USA Savings Accounts HSBC Advance Online Savings Account Top Savings Account Rates & Money Market Account Rates |