Best Bank Savings Rates in New York: 1.05% APY Highest Savings Rate

The best bank savings rates on our savings rates/money market rates in New York right now are almost 11 times the Federal Deposit Insurance Corporation's (FDIC) average rate of 0.09 percent. Current CIT Bank savings rates right now are at 1.04 percent with an APY of 1.05 percent. Union Federal Savings Bank's current money market rate is also at 1.04 percent with an APY of 1.05 percent.

Those rates are the highest savings rates and money market rates on our list for New York. Those interest rates are almost double Bankrate's national average savings account rate of 0.55 percent for account balances of $10k. Those rates also are better than average jumbo savings rates at 0.71 percent in Bankrate's survey and better than the FDIC's jumbo savings rate of 0.09 percent.

We have many other online savings rates and money market account rates on our New York savings rates list that are much higher than the national average rates. The second highest interest rate on our list is on EverBank's money market account. EverBank's current first year money market account APY is 1.01 percent. EverBank is offering a 6 month promotional money market rate of 1.25 percent with an ongoing rate of 0.76 percent which makes the overall APY 1.01 percent.

The third best rate on our New York rate list is on Barclays Bank online savings account. Current Barclays Bank savings account rates are at 1.00 percent with an APY of 1.00 percent. Barclays Bank's entry to the U.S. savings account market happened earlier this year and since then Barclays Bank's savings rate has been in the top 5 savings rates available in New York and across the U.S..

New York Savings Rates and Money Market Rates

  1. CIT Bank Savings Interest Rates 1.04% APY 1.05%

  2. Union Federal Savings Bank Money Account Rates 1.04% APY 1.05%

  3. EverBank Money Market APY 1.01%

  4. Barclays Online Savings Account Rates 1.00% APY 1.00%

  5. Sallie Mae Bank Money Market Interest Rates 0.90% APY 0.90%

  6. American Express Bank Savings Account Rates 0.90% APY 0.90%

  7. Ally Bank Savings Rates 0.89% APY 0.89%

  8. Ally Bank Money Market Rates 0.89% APY 0.89%

  9. MetLife Bank Savings Account Rates 0.85% APY 0.85%

  10. Able Banking Money Market Rates 0.85% APY 0.85%

  11. Colorado Federal Savings Bank Savings Rates 0.85% APY 0.85%

  12. Discover Bank Savings Account Rates 0.80% APY 0.80%

All the savings accounts and money market accounts listed above are insured by the FDIC for up to $250,000. You can search for and compare the best savings rates and money market rates by using our rate lists.
Author: Lisa Graham
August 31st, 2012