bank rates

Former Savings Leader Back In The Race

SFGI Direct is accepting new depositors for the first time since July.There’s such a big rate difference between the best nationally available savings account and everyone else that it’s hardly worth mentioning the competition.

But we will, if only because one of the top banks is back on our list of best nationally available deals for the first time since July.

SFGI Direct, ( had offered the best nationally available savings rate for much of the year before it simultaneously cut rates and stopped accepting new accounts.

Today, the online division of Summit Community Bank in Moorefield, W.Va., is again opening new accounts. It pays 1.01% APY with a $500 minimum deposit.

That yield is good enough for fourth on our list of top nationally available deals, but it’s much less than this bank was paying earlier this year.

Of course, UFB Direct ( continues to fly higher than other banks in the country, paying 1.30% APY on its Airline Rewards Savings Account.

Along with its noteworthy rate, the account gives you 500 airline miles after you’ve had it open for 90 days and 500 miles more if you keep your account open for a year.

The bank also offers an Airline Rewards Checking Account, which earns you airline points for debit card usage and direct deposits.

You’ll get 1 mile or point for every $2 in debit card purchases, and you can get an extra 1,000 miles or points one time if you have a direct deposit of $1,000 or more. The account has no minimum balance or monthly maintenance fees.

Both the savings and checking accounts require a $100 minimum deposit to open. UFB Direct is a division of Bank of Internet USA, based in San Diego.

The other top accounts belong to:

CNB Bank Direct (, the online division of Citizens National Bank of Bluffton, Ohio, which pays 1.05% APY with no minimum deposit requirement.

Clear Sky Accounts (, the online division of Chesapeake Bank of Williamsburg, Va., which pays 1.04% APY on balances up to $249,000. Any portion of your balance above that earns 0.25% APY. There is no minimum deposit requirement.

See how these offers compare to the best money market and savings account rates from scores of banks in our database.

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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on November 22nd at 03:45 pm

    CNB Bank Direct has cut its savings rate to 1.00% APY.