bank rates

Best National Savings Accounts for December 2017

Hand grabbing money out of a jar

After months of stagnation, we’re finally starting to see a rise in savings rates. One bank is at the top of the list of the best national savings accounts for December 2017 — Incredible Bank.

It’s offering 1.55% APY. But that’s with a hefty minimum balance of $25,000.

If you can’t swing that minimum, there are three other banks offering a slightly lower rate.

DollarSavingsBank, Salem Five Direct and Live Oak Bank are all offering 1.50% — DollarSavingsDirect requires a $1 minimum balance while Salem Five Direct and Live Oak don’t require a minimum.

In total, you’ll now find six banks all offering 1.40% APY or above on savings accounts. That’s quite a change from this time last year.

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

It wasn’t long ago that you would have been hard-pressed to find a savings account paying above just 1.00% APY. But now there are 15 paying 1.30% APY or above.

Savings Account Leaders

Bank APY Min Deposit Min Balance
Incredible Bank 1.55% $2,500 $25,500
DollarSavingsDirect 1.50% $None $1
Salem Five Direct 1.50% $100 None
Live Oak Bank 1.50% $0 None
Popular Direct 1.40% $5,000 $500
Pure Point Financial 1.40% $10,000 $10,000
SFGI Direct 1.36% $500 None
CIT Bank 1.35% $100 $100
Nationwide  1.30% $25 $300
Palladian Private Bank 1.30%* $1,000 None
BankPurely 1.30% $1 None
Synchrony Bank 1.30% $30 $30
Barclays 1.30% None None
GS Bank 1.30% $50 None
Radius Bank 1.30% $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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