The Best Current and Historical Bank Interest Rates -- June 2021
We’ve tracked bank rates since 2008. The latest list shows the best bank interest rates available nationwide as of June 2021 (with daily updates).
Since many banks are constantly updating their interest rates offered on savings, money market and checking accounts, the charts below should come in handy. On the 1st of every month, this page is updated to show the most accurate rate information available.Steal of the day: Chime’s Savings Account now offers a 0.50% APY! With this FREE service you don't need to worry about minimum balance requirements or maximums on interest earned
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
Use the scroll bar below the table to view January interest rates and rates from previous years.
|CIT Bank||Money Market||$100 minimum opening deposit||All||0.45%||0.50%||1.85%||1.85%|
|GS Bank||Online Savings||No minimum deposit||All||0.50%||0.50%||1.70%||2.05%||1.40%||1.05%||N/A||N/A|
|Synchrony Bank||High Yield Savings||No minimum balance||All||0.50%||0.55%||1.70%||2.20%||1.30%||1.05%||1.05%||1.05%|
|Ally||Online Savings||No minimum balance||All||0.50%||0.50%||1.60%||2.00%||1.25%||1.00%||1.00%||0.99%|
|American Express Bank Personal Savings||High Yield Savings||All||0.40%||0.50%||1.70%||2.10%||1.35%||0.90%||0.90%||0.80%|
|Discover Bank||Online Savings||All||0.40%||0.45%||1.60%||2.00%||1.30%||0.95%||0.95%||0.90%|
|TIAA||Money Market||1st year intro rate||Up to $250k||0.40%||0.40%||1.75%||2.15%||1.31%||1.11%||1.11%||1.11%|
|Capital One 360||Online Savings||Formerly ING Direct||All||0.40%||0.40%||1.70%||1.00%||1.00%||0.75%||0.75%||0.75%|
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 other bank accounts or deals we should include in our list, please leave a comment below.