bank rates

Best National Savings Accounts for July 2018

Hand grabbing money out of a jar

After years of stagnation, we’re finally starting to see a rise in savings rates. One bank is at the top of our list of the best national savings accounts for July 2018 — Salem Five Direct.

It’s offering 2.05% APY. That’s with a $100 minimum deposit.

 

16 banks pay at least 1.30% APY or better on savings accounts:

In total, you’ll now find 16 banks all offering 1.30% APY or above on savings accounts, and 10 of those banks are offering rates of 1.80% APY or above. That’s quite a change from this time last year.

It wasn’t long ago that you would have been hard-pressed to find a savings account paying above just 1.00% APY.

Below you’ll find those 16 savings account leaders and their requirements.

Savings Account Leaders

Bank APY Min Deposit Min Balance
Salem Five Direct 2.05% $100 $0
Citizens Access  2.00% $5,000 $5,000
Northpointe Bank 1.95% $0 $25,000
Pure Point Financial 1.90% $10,000 $10,000
Radius Bank 1.86% $100 $25,000
Popular Direct 1.85% $5,000 $500
IncredibleBank 1.88% $2,500 $25,000
SFGI Direct 1.81% $500 None
DollarSavingsDirect 1.80% $None $1
Marcus 1.80% $50 None
Synchrony Bank 1.75% $30 $30
Live Oak Bank 1.70% $0 None
Barclays 1.75% None None
CIT Bank 1.55% $100 $100
Nationwide  1.30% $25 $300
BankPurely 1.30% $1 None

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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