bank rates

KeySource Has Good Savings Rates, Too

We’ve been writing all year about the top CD rates at Keysource Commercial Bank, but we’ve failed to mention the competitive savings rates this one-branch, North Carolina bank also offers.

It pays 1.00% APY on its Blue Savings Account, which is available to savers in all 50 states.

To open an account, you must deposit at least $100 in person or $5,000 online. You’ll pay no monthly fee if you keep your minimum daily balance above $300.

That 1% yield might not look very good, but it’s one of the best nationally available deals.

Just two other banks have a higher rate than Keysource:

TIAA Direct (www.tiaadirect.com) pays 1.25% APY on its High Yield Savings account.

It only takes a $25 minimum deposit to open an account, and the rate applies to all balances. TIAA Direct is a division of TIAA-CREF Trust Co., the large financial firm largely known for its retirement services for teachers.

CIT Bank (www.bankoncit.com) pays 1.05% APY on balances of at least $25,000. The bank previously paid 0.90% APY. Balances below $25,000 now earn 0.90% APY, up from 0.85% APY.

There’s no minimum deposit requirement to open an account with CIT Bank or to earn interest. Its parent, CIT Group based in New York, provides lending, leasing and advisory services to small and midsize businesses.

About those CD rates I mentioned at the beginning of this post — KeySource cut its rates earlier this month, dropping it from the top of our CD Rates Leaderboard.

But a number of its short-term rates remain competitive.

Keysource Commercial Bank has a single branch in Durham, N.C. Learn more about this bank at www.keysourcebank.com or call 919-383-4200.

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

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  1. Kathy at Bankaholic said:
    on June 22nd at 12:52 pm

    These rates are all still available.