Highest Bank Savings Rates and Money Market Rates November 2013

Below is a list of the highest bank savings account rates and money market account rates for the month of November. As you can see the best rates haven't changed over last month's best rates. We won't see higher interest rates until the Federal Reserve Open Market Committee (FOMC) votes to increase the federal funds rate.

A higher federal funds rate will happen when the unemployment rate falls from the current level of 7.2 percent down to 6.5 percent. October's employment report will be released this morning at 8:30 AM. Thanks to the government shutdown and debt ceiling fight the unemployment rate is expected to increase to 7.4 percent.




The unemployment rate won't fall to 6.5 percent until April or May of 2014 so we won't see higher savings rates, money market rates and CD rates until next year. We will have to wait until the summer of 2014 for higher bank interest rates, but for now here is a list of the highest rates available.

Highest Savings Account Rates November 2013



  • The Palladian PrivateBank Savings Rate 1.00%

  • GE Capital Retail Bank Savings Rate 0.90%

  • CIT Bank Savings Rate 0.90%

  • Barclays Bank Savings Rate 0.90%

  • Ally Bank Savings Rate 0.86%

  • American Express Bank Savings Rate 0.85%

  • FNBO Direct Savings Rate 0.85%

  • Colorado FSB Savings Rate 0.85%

  • Discover Bank Savings Rate 0.75%

  • Capital One 360 Savings Rate 0.70%

  • First Trade Union Bank Savings Rate 0.70%

  • Heartland Bank Direct Savings Rate 0.70%

  • Bank of Internet USA Savings Rate 0.61%

  • First Internet Bank of Indiana Savings Rate 0.60%


Highest Money Market Account Rates November 2013



  • Sallie Mae Bank Money Market Account Rate 0.90%

  • EverBank Money Market Account Rate 0.86%

  • Ally Bank Money Market Rate 0.86%

  • GE Capital Retail Bank Optimizer Plus Rate 0.85%

  • Mutual of Omaha Bank Money Market Rate 0.85%

  • First Internet Bank of Indiana Money Market Rate 0.80%

  • ableBanking, a division of Northeast Bank Rate 0.80%

  • Bank of Internet USA Money Market Rate 0.75%

  • Discover Bank Money Market Account Rate 0.70%

  • VirtualBank Money Market Rate 0.65%

  • giantbank.com Money Market Rate 0.60%

  • AloStar Bank of Commerce Rate 0.60%


You can always find a list of the best savings rates, money market rates or CD rates by searching our database of rates at MonitorBankRates.com.
 
Author: Brian McKay
December 3rd, 2013