As featured in The Wall Street Journal, Money Magazine, and more!
     

Current and Historical Checking and Savings Account Rates

This article was written by in Banking. 4 comments.

Since many banks are constantly updating their interest rates offered on savings, money market and checking accounts, this chart should come in handy. On the 1st of every month, this page is updated to show the most accurate rate information available.

Deal of the Day: Earn 1.15% APY on an FDIC-insured savings account and up to a $400 cash bonus at CIT Bank.

This list is organized in two sections. The first section includes FDIC-insured savings or money market accounts and the second includes FDIC-insured checking accounts. Each list is sorted alphabetically and unless there is a notation listed, the APY rate applies to all amounts.

New for June 2017: Over the past 30 days Synchrony Bank made a big move, increasing the APY on its online savings account to 1.15%. That is one of the best rates available nationally.

Current rates

Use the table below to search for current interest rates available on money market accounts, savings accounts, and certificates of deposit. For historical rates, scroll down.

Historical interest rates

Bank Account Name Tier Notes 6/1/2017 1/1/2017 1/1/2016 1/1/2015
Synchrony Bank Online Savings All No minimum balance 1.15% 1.05% 1.05% 1.05%
Ally Online Savings All No minimum balance 1.05% 1.00% 1.00% 0.99%
Ally Money Market All No minimum balance 0.85% 0.85% 0.85% 0.85%
American Express Bank High Yield Savings All 0.95% 0.90% 0.90% 0.80%
Barclays Online Savings All 1.05% 1.00% 1.00% 0.90%
Capital One 360 Online Savings All Formerly ING Direct 0.75% 0.75% 0.75% 0.75%
Discover Bank Online Savings All 1.01% 0.95% 0.95% 0.90%
GS Bank Online Savings All No minimum deposit 1.05% 1.05% N/A N/A
Everbank Money Market $5k to $10k Includes 1st year intro rate 1.11% 1.11% 1.11% 1.11%

Here’s a complete list of the banks and interest rates we track dating back to 2008:

Savings Account Rates

As you review the current and historical rates for savings accounts and money market accounts, keep the following in mind:

  • Fees: The best offers come with no monthly maintenance fees. Even a small fee can wipe out much of the yield, particularly in the current low rate environment. Before opening an account, make sure you understand what if any fees you’ll pay. The best savings accounts don’t charge fees.
  • Minimum Deposit: Many bank accounts require either a minimum deposit or a minimum balance going forward, or both. Be sure you know these requirements as you shop for the highest yield.
  • Tiered Rates: Some, but not all, banks offer tiered rates based on the amount of your balance. While one might assume that the rates go up as the balance goes up, that’s not always the case. Some banks actually lower the rate for balances over a certain limit.
  • Online Banks vs Traditional Banks: As a general rule, online banks offer the highest rates. Many brick and mortar banks offer yields as low as 0.01%. It’s as if they don’t want your money. In contrast, online banks offer yields of 1.00% APY or more.

Checking Account Rates

With checking accounts, the interest rates tend to be lower. That’s generally fine because most people don’t keep a lot of money in a checking account. Any extra money one has should be moved over to a high-yield savings product. That being said, many banks do offer interest checking accounts. Here it’s critical to consider fees, which are more common than on savings and money market accounts.

Finally, if you know of ther bank accounts or deals we should include in our list, please leave a comment below.

Updated June 21, 2017 and originally published June 3, 2017.

Email Email Print Print
avatar
About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

avatar 1 Anonymous

Where can this chart be found each month?

avatar 2 qixx

I think this may just be a spreadsheet Flexo has been keeping for a while.

avatar 3 Rob Berger

It is. It hadn’t been updated for several years, and we decided to bring it back!

avatar 4 Rob Berger

Right here. We updated it monthly.