bank rates

Best National Savings Accounts for October 2017

Hand grabbing money out of a jar

After months of stagnation, we’re finally starting to see a rise in savings rates. Three banks are at the top of the list of the best national savings accounts for October 2017 — Dollar Savings Direct, Popular Direct and Live Oak Bank.

All are offering 1.40% APY, but Popular Direct is the only bank that requires a minimum deposit to open ($5,000).

Palladian PrivateBank had been at the top of our list for months with its current bonus offer, paying 1.30% APY for the first six months after you open your account.

But after the promotional period ends, the rate returns to the regular rate, which currently is 0.90% APY. That gives you a combined annual return of 1.10%.

Now there are 11 banks in total offering 1.30% APY or better on a savings account. Other than Palladian’s offer, none of the deals are promotional — you earn a straight 1.30% APY or better on your balance.


11 banks pay at least 1.30% APY on savings accounts:

You’ll also find great deals from CIT Bank, Salem Five Direct, and SFGI Direct, all with varying minimums.

And PurePoint Financial has been on our radar for a while. It consistently has some great deals, and right now it’s offering 1.30% APY on its savings account. But that requires a hefty $10,000 minimum deposit.

Savings Account Leaders

Bank APY Min Deposit Min Balance
DollarSavingsDirect 1.40% $None $1
Popular Direct 1.40% $5,000 $500
Live Oak Bank 1.40% $0 None
CIT Bank 1.35% $100 $100
Salem Five Direct 1.35% $100 None
SFGI Direct 1.31% $500 None
Palladian Private Bank 1.30%* $1,000 None
BankPurely 1.30% $1 None
Synchrony Bank 1.30% $30 $30
Pure Point Financial 1.30% $10,000 $10,000
Barclays 1.30% None None
Incredible Bank 1.21% $2,500 $2,500
GS Bank 1.20% $50 None
Ally Bank 1.20% None None
Radius Bank 1.20% $10 $2,500
*Palladian Private Bank guarantees this rate for six months. After the six month period the rate returns to 0.90%, giving a combined annual return of 1.10%.

Finding the best savings account deals

The above deals are all nationally available, open to all savers regardless of where they live.

But you must remember that, unless your rate is guaranteed for a certain period of time, banks can raise or lower savings account rates anytime they wish.

You might be able to find a better deal by searching locally at credit unions or regional banks.

Can you find a higher return only available in your area? Search our database of the best money market and savings account rates offered by dozens of banks and thrifts near you.

This list of the best national savings accounts is updated monthly. 

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