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Earn 1.7% With The Best Savings Account

Posted in Savings Accounts by DealMaven
February 5, 2010 09:45 AM - 2 Comments

You can earn far more from a top-paying savings account than you can from most short-term CDs.

You can earn far more from a top-paying savings account than you can from most short-term CDs.

The average return on 12-month certificates of deposit has fallen to a measly 0.77% APY, and the average return on 24-month CDs has plunged to 1.19% APY.

But Colorado Federal Savings Bank is paying 1.70% APY on its savings account and we’ve found four others paying at least 1.50% APY.

The downside of savings accounts is that their rates are always variable, so they can drop at any time.

But there’s no long-term commitment, so if you become disenchanted with your rate, you can always withdraw your money and move on.

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  1. DealMaven said:
    on February 11th at 08:49 am

    Today Colorado Savings Bank lowered its rate on savings accounts to 1.50% APY from 1.70%. Most of the other banks listed dropped their rates as well. Read the entire post for current rates.

  2. Jack said:
    on February 12th at 12:37 pm

    Beware that some banks have policies on supposed liquid accounts – charging a fee if the account is closed before a certain date, forfeiting the entire month’s interest unless the account is closed at the end of month. Some don’t tell customers up front

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