Savings Account Rates/Money Market Rates October 17, 2012
Average savings account rates and money market account rates remain stable for the week ending October 17, 2012. The FDIC's national average savings rate remained unchanged at 0.08 percent. The FDIC's average jumbo savings rate also remained unchanged at 0.08 percent. Average money market rates in the FDIC weekly survey were at 0.12 percent and 0.18 percent for jumbo money market rates, unchanged from last week's average.
The best savings account rates on our rate list are still many times above the FDIC national average. The best savings rate on our rate list this week is 13 times the national average at 1.04 percent. The lone bank offering that savings rate is CIT Bank with a rate of 1.04 percent and an APY of 1.05 percent for account balances of $25,000 or more on deposit.
The highest money market rates also remain several times above the national average rates. The highest money market account rates on our list is from Sallie Mae Bank and Colorado Federal Savings Bank. Both banks are offering money market rates at 1.04 percent with an APY of 1.05 percent. Sallie Mae Bank doesn't have a minimum balance while Colorado FSB has a minimum balance of $2,500. Below are the top 5 savings rates and top 5 money market rates for the week ending October 17, 2012.
Best Savings Account Rates October 17, 2012
Best Money Market Account Rates October 17, 2012
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