bank rates

Few Banks Pay Above 1% On Savings

Top paying savings account offers 1.30% APYWe’ve found just seven banks that have nationally available savings rates that pay more than 1.00% APY.

The best of the bunch is UFB Direct (, which pays 1.30% APY on its Airline Rewards Savings Account.

UFB Direct also throws in 500 airline miles 90 days after you open your account, and another 500 miles if you keep your account open for a year.

To open an account you need to make a $100 minimum deposit. The bank is a division of Bank of Internet USA, with headquarters in San Diego.

The next best national available savings account rates belong to:

Discover Bank (, an online bank owned by the credit card company, which pays 1.10% APY with a $500 minimum deposit.

CNBBankDirect (, an online division of Citizens National Bank in Bluffton, Ohio, which pays 1.05% APY with a $1 minimum deposit. Citizens National Bank has seven branches in northwest and central Ohio.

First Trade Union Bank (, a Boston bank with a single location, which pays 1.05% APY with a $2,500 minimum deposit to earn that rate. Balances below that amount earn 0.50% APY.

Clear Sky Accounts (, an online division of Chesapeake Bank of Williamsburg, which pays 1.04% APY with no minimum deposit requirement. Chesapeake Bank has 11 branches in Virginia.

Capital One Bank (, a McLean, Va.-based bank with 1,000 branches, which pays 1.01% APY with a $1,000 minimum deposit.

Sallie Mae Bank (, an online bank run by the big student loan provider, which pays 1.01% APY and has no minimum deposit requirement.

If you’re looking for a higher yield on your savings, some local banks and credit unions pay a higher interest rate.

We’ve written about several local deals on savings rates recently that are better than the best nationally avaialble deals.

You can see how these offerings compare to the best money market and savings account rates from scores of banks in our database.

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Comments (3)
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3 Existing Comments
  1. Kathy at Bankaholic said:
    on September 26th at 08:03 am

    You can still get all of these rates except Discover Bank’s, which is now 1.00% APY and Capital One’s, which is 0.85% APY.

  2. Kathy at Bankaholic said:
    on October 3rd at 07:59 am

    Sallie Mae has lowered its high-yield savings rate a hair, to 1.00% APY.
    You can still get the rates quoted here at UFB Direct, CNBBankDirect, First Trade Union Bank and Clear Sky Accounts.

    The lower rates mentioned for Discover and Capital One in the previous comment are still in effect.

  3. Kathy at Bankaholic said:
    on October 11th at 09:11 am

    UFB Direct, CNBBankDirect, First Trade Union Bank and Clear Sky Accounts are still offering these rates, with one exception: On balances below $2,500, First Trade Union now pays 0.25% APY.