At the top of the list of the best national savings account for March 2017 is Palladian PrivateBank with a bonus offer, which is paying 1.30% APY for the first six months after you open your account. 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%.
After that, you can pick up a cool 1.25% from Pure Point Financial. But you’ll have to fork out a hefty $10,000 upfront to earn that rate.
Six other banks pay at least 1.05% APY on savings accounts:
Incredible Bank, which places third in our rankings by paying 1.17% APY on balances to $249,999.
You need to deposit at least $2,500 to open an account. While you don’t need to keep that much in your account to earn interest, you’ll pay a $15 monthly service fee if your balance drops below $2,500. Balances of $250,000 or more earn just 0.05% APY.
Incredible Bank is the online division of River Valley Bank, which has 16 branches in Wisconsin and Michigan.
Salem Five Direct, which is paying 1.10% APY, and the rate is guaranteed through Jan. 1. You earn 1.10% APY on your entire balance.
You only need to deposit $100 to open an eOneSavings account. There are no monthly fees. You’re eligible to open an account if you don’t already have a savings account with Salem Five Direct or a checking or savings account with its parent, Salem Five Cent Saving Bank in Salem, Massachusetts. The brick-and-mortar bank has about 30 locations around Boston.
SFGI Direct, which is paying 1.06% APY on your entire balance. You need to deposit at least $500 to open an account, but you don’t need to maintain a minimum balance in your account to earn interest.
There are no monthly service fees. SFGI Direct is the online division of Summit Community Bank in Moorefield, West Virginia.
Synchrony Bank, which is paying 1.05% APY on your entire balance. You don’t need to deposit a certain amount to open an account, and there’s no minimum balance required to earn interest. And you don’t pay any monthly service fees. The predominantly online bank has a single branch in Bridgewater, New Jersey.
GS Bank, which is also paying 1.05% APY. This is the former GE Capital Bank, which was purchased by Goldman Sachs. You don’t need to deposit a certain amount to open an account, and you earn interest on your entire balance. There are no monthly fees. The bank is based in New York.
AloStar Bank of Commerce is the third bank paying 1.05% APY. AloStar is an online bank based in Birmingham, Alabama. It takes just $50 to open an account with AloStar. There is no minimum balance required to earn interest, and you pay no monthly fees.
Finding the best savings account deals
These are all nationally available deals, 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.
Can you find a higher return only available in your area? Search Bankrate’s database of the best money market and savings account rates offered by dozens of banks and thrifts near you.
Savings Account Leaders
|Bank||APY||Min Deposit||Min Balance|
|Palladian Private Bank||1.30%*||$1,000||None|
|Pure Point Financial||1.25%||$10,000||$10,000|
|Salem Five Direct||1.10%||$100||None|
|Alostar Bank of Commerce||1.05%||None||None|