bank rates

Best Savings Accounts Top Short-Term CDs

If you're looking for somewhere safe and easy to park your money a high-yield savings account may be a better bet than short-term certificates of deposit.
If you’re looking for somewhere safe and easy to park your money, a high-yield savings account may be a better bet than short-term certificates of deposit.

While it may not make you rich, SFGI Direct is offering the top national rate on a savings account, at 1.21% APY.

That’s more than the best nationally available 3- and 6-month CD rates.

Nexity, for example, tops our most recent CD Rates Leaderboard — which is still up-to-date.

The online bank based in Birmingham, Ala., is paying 0.81% APY on 3-month CDs and 1.13% on 6-month CDs. Both require a $1,000 minimum deposit.

Granted, savings account rates aren’t locked in, but SFGI Direct has led or come in second place in the rankings since the beginning of the year.

SFGI Direct is the online division of Summit Community Bank, which has 15 branches in Virginia and West Virginia and requires a $500 minimum deposit to open an account.

The next-best deal on savings account is being offered by four banks that are all paying 1.15% APY:

American Express Bank is the online bank owned by the credit card company. It requires no minimum deposit.

Discover Bank is another online bank owned by a major credit card company and requires a $500 minimum deposit.

Clear Sky Accounts is the online division of Chesapeake Bank, which has 11 branches in eastern Virginia and has no minimum deposit.

CNB Bank Direct is the online division of Citizens National Bank, which had eight branches in Ohio and requires no minimum deposit.

You can compare these savings rates with the best CD rates from our extensive database of banks.

Or see how they stack up against the best money market and savings account rates from scores of banks in our database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
Loading...
One Existing Comment
  1. Kathy at Bankaholic said:
    on June 22nd at 10:58 am

    American Express Bank’s savings rate has dropped to 1.00% APY, and Clear Sky Accounts is now 1.10% APY. The rest of these savings rates are still available as of today.