Best Savings Account Rates 10/8: Best National APY 1.05%

Savings account rates are near historic lows right now. The current national average savings account rate/money market account rate our on average rate survey is at 0.205%. The FDIC's national rate average survey is even lower at 0.12%. You can find savings rates considerably higher than the national average rates.  

You can compare a list of both local savings account rates and national savings account rates by using our rate tables here: Savings Account Rates.

Right now Discover Bank's money market account rate is at the top of our national list of rates. Discover Bank's money market account rate is 1.04% with a money market account yield of 1.05%. Discover's MMA rate is more than 5 times MBR's national average and almost nine times the FDIC's average rate.

Right behind Discover's rate is American Express Bank's online savings account rate. Amex Bank's savings account rate is currently at 1.00% with a savings account yield of 1.00%. Amex's rate is almost five times MBR'snational average rate. Eariler this year American Express Bank's savings account rate was slightly higher at 1.29% but like most banks their rate has been lowered.

Here are a list of more banks offering savings account rates and yields at 1.00%.

  • Salem Five Direct

  • First Internet Bank of IN

  • Nationwide Bank

  • ING Direct

  • Sallie Mae Bank

Ally Bank's savings account rate and yield is just below 1.00% at 0.99%. Behind Ally Bank is Aurora Bank with a money market account rate of 0.92% with a yield of 0.92%. Aurora Bank also offers savings accounts with a rate and yield of 0.87%.
Author: Robert Till
October 8th, 2011
Posted in: Savings Accounts