January 8, 2025 - The best online savings account rates and money market rates on United States FDIC-insured accounts. Learn about the offering banks and compare accounts by APR, minimum balance, highest interest rates and more.
June 14, 2023 / 10:49 AM EDT / CBS News Online high-yield savings accounts often offer higher interest rates than banks with physical locations. Camille Wesser/Getty Images High inflation not only makes everyday purchases more expensive; it can also mean that your cash effectively loses ...
Best for yield/interest rate: Bread Financial Bread Financial offers annual percentage yields (APYs) as high as 5.25% for a 1-year CD. Rates as of June 2023 are as follows: 1-year CD — 5.25% 2-year CD — 5.00% 3-year CD — 4.50% 4-year CD — 4.35% 5-year CD — 4.25% ...
Putting aside interest rates, another main factor in deciding which one to have is how you’ll access your funds. For example, MMAs have more options. Many consider MMAs to be more of a hybrid between a checking & savings account due to its limited checking capabilities. Be mindful that ma...
Maximize your savings with the best online banks offering high-interest rates, security, and flexibility. Uncover your options.Are you tired of your savings barely earning any cash? It's time to switch to an online savings account. They offer much higher interest rates than traditional brick-and...
Why savings rates change The Fed doesn’t directly impact savings rates, but its decisions have ripple effects on the everyday consumer. When the Fed raises the federal funds rate -- the interest rate US banks use to lend or borrow money to each other overnight -- banks tend to increase...
Ally Bank also offers CDs with terms between three months and five years, and interest rates ranging from 0.50% and 2.75% APY. Products Offered: Online savings, checking account, money market, and CDs Minimum Balance Required: None APY on Best Account: 3.60% APY on online savings account...
Use this chart to find the best interest rates for your needs: Featured Rates How to Open an Online Savings Account Opening a savings account online is easy. Visit the bank’s website and begin the online application process. Depending on the institution, it can take as little as 15 minute...
Offers checking and savings accounts in addition to CDs Cons No physical branches INOVA Federal Credit Union – 5.50% APY (6 months) & 5.40% APY (8 months) Minimum deposit:$200 Early withdrawal penalty:3 months of interest Overview:Anyone can join INOVA with a $5 donation to the nonprofit...
Instead, a more prudent strategy is to stick with savings accounts with variable APYs (which should increase if the Fed raises interest rates) and consider a CD or MMC in 2023. Pros: Pentagon Federal offers a competitive APY, and the credit union has roughly 50 branches in 13 states. Cons...