Highest Savings Rates and Money Market Rates Still at 1.05 Percent This Week

The highest savings rates and money market rates available are still at 1.04 percent with an APY of 1.05 percent this week. Average savings account rates declined 1 basis point in the FDIC's national average rate survey. Jumbo savings rates have also declined 1 basis point in this week's FDIC survey.

The best savings rates on our national rate list are at 1.04 percent with an APY of 1.05 percent is from one bank. Current CIT Bank savings rates are currently at 1.04 percent with an APY of 1.05 percent. That savings rate is more than 12 times the FDIC’s national average savings account rate of 0.08 percent. That rate is also 12 times the FDIC's average jumbo savings account rate of 0.08 percent.  average.




The highest money market rates on our national savings/money market rate list are also paying 1.04 percent with an APY of 1.05 percent. Union Federal Savings Bank tops our money market rate list with an rate of 1.04 percent with an APY of 1.05 percent.

Our best money market account rate is also higher than the FDIC's national average money market rate. In this week’s FDIC survey the national average money market rate is at 0.12 percent and jumbo money market rates are averaging 0.19 percent so you can see that our highest rate is more than 8 times the FDIC average.

The second best savings account rate on our rate list is from one bank and also much higher than the FDIC average. Barclays Bank savings account rates are at 1.00 percent with an APY of 1.00 percent. Barclays savings rate is more than 11 times the FDIC national average rate.

The second best money market rate is 1 basis point higher than the second best savings interest rate on our list. EverBank’s money market account is currently paying a promotional 1.01 percent APY. The promo money market rate is 1.25 percent for six months and the regular onging money market rate of 0.76. When you combine these two rates the first year APY is 1.01 percent making that rate the second best money rate on our list.

The third best savings interest rate on our list is from a well known national bank. Current Ally Bank savings account rates are at 0.95 percent with an APY of 0.95 percent. You don't have to have a minimum opening balance or a minimum balance to maintain for an Ally Bank online savings account at this rate and yield.

Sallie Mae Bank has the third highest money market rate on our list. Sallie Mae Bank is offering money market account rates at 1.00 percent with an APY of 1.00 percent. There is also no minimum opening deposit or balance to maintain to earn the rate and yield on Sallie Mae’s money market account.

The fourth highest online savings account rate on our list is from American Express Bank. Current American Express Bank savings account rates are currently offered at 0.90 percent with an APY of 0.90 percent. There is no minimum opening balance or account minimums on the American Express Bank savings account to earn that rate and yield.

The fourth best money market rate on our list is from Ally Bank. Today's Ally Bank money market rates are also at 0.95 percent with an APY of 0.95 percent.  There is no minimum opening balance or balance to maintain on Ally Bank’s money market account.

Another well known bank, Discover Bank, is offering the fifth highest savings account rate on our rate list. Today's Discover Bank savings account rates are at 0.90 percent with an APY of 0.90 percent. Discover Bank online savings accounts have a minimum opening deposit of $500.

Rounding out the top 5 money market account rates is ablebanking. Today's Able Banking money market account rates are at 0.90 percent with an APY of 0.90 percent. There is a $1,000 minimum opening balance on Able Banking’s money market account.

You can search for and compare savings rates and money market rates by using our rate lists. Interest rates are updated all the time so check back on a regular basis to make sure you get the best rates today!
 
Author: Lisa Graham
September 8th, 2012
Posted in: Savings Accounts