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Earn A Top Rate of 2.0% On Your Savings

Posted in Savings Accounts by DealMaven
March 5, 2010 12:22 PM - 5 Comments

Two weeks ago we updated the best savings account rates because three of the top five banks in our previous rankings lowered their rates.

two weeks ago we updated our savings rates and we're doing it again

We have to update again. But this time we found a great savings rate for residents of every state except North Carolina.

Southern Community Bank and Trust, located in Winston-Salem, N.C. with more than 20 branches throughout the state, pays a top rate of 2.00% APY (that’s right) on savings accounts that require no minimum balance and charge no fees.

The other top nationally available savings rates are:

1.75% APY with a $25,000 minimum deposit from Franklin Synergy Bank, which has two branches in Franklin, Tenn.

1.60% APY with no minimum deposit or balanced required from balance from Newtown Savings Bank, which has multiple branches in Southwestern Connecticut.

1.55% APY with a $10,000 minimum deposit from The Palladian Private Bank, which is based in Chicago and has 34 locations in 10 states.

1.51% APY with a $1,500 minimum deposit from EverBank, based in Jacksonville, Fla.

Most money markets currently pay less than savings accounts, with one notable exception: the Mega Money Market Account pays 2.00% APY and is available from three jointly owned banks in Oklahoma.

Click here to see how much you can earn with these rates using our certificate of deposit calculator.

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Comments (5)
1 Star2 Stars3 Stars4 Stars5 Stars (9 votes, average: 3.33 out of 5)
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5 Existing Comments

  1. S. Dixon said:
    on March 5th at 02:14 pm

    I inquired about the readysaver.com account and they are offering it to residents of North Carolina.

  2. DealMaven said:
    on March 8th at 04:19 pm

    Thanks for the heads up!

    When we spoke to Southern Community Bank on Friday they said ReadySaver wasn’t available to North Carolina residents. So we called to see what was going on and they said they changed the rules over the weekend. So now everyone can take advantage of that top rate.

  3. alan said:
    on March 10th at 11:43 am

    According to the bank’s website, they have a four star (“excellent”) rating from Bauer Financial. I just checked the Bauer Financial website, which gives them a three star ((“adequate”) rating.

    Bankrate.com gives them a one star (“lowest rated”) rating.

    I’m not all that concerned about the low ratings. But I am very concerned about the discrepancy between what I read on the bank’s website, and what I found on the Bauer Financial website. I think I’ll pass on this one. I’ll stick with Bank of Internet’s High-Yield Savings Account (1.50%). I’ve had accounts at Bank of Internet for years — generally, their rates are good and their customer service is excellent.

  4. DealMaven said:
    on March 19th at 09:52 am

    Newtown Savings Bank dropped its rate to 1.40% APY from 1.60% APY. But the others are still accurate, as of today!

  5. DealMaven said:
    on March 30th at 11:52 am

    The Palladian Private Bank’s Web site is currently “under construction.” At least that’s what it says when you try to link to it. We’ll keep checking and let you know when it becomes available again.

    March 31: The site is back up again — rates haven’t changed.

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