bank rates

New Addition To Savings Account Leaders

Man pulling money out of a suit coat.For the first time in months, we’ve been able to add a new bank to our list of nationally available savings rate leaders.

CSBdirect ( joined the savings leaderboard with its offer of 1.01% APY on account balances of at least $1,000.

While it falls short of the 1.25% APY offered by Salem Five Direct (, it’s nice to find another bank that pays at least 1.00% APY.

Even with CSBdirect’s addition, that still makes only four banks offering a nationally available rate of 1% or better.

Salem Five Direct, the online division of Salem Five Cents Saving Bank, in Salem, Mass., continues to lead the list with its eOne Savings account, which pays 1.25% APY on balances to $500,000.

The account is only available if you don’t already have a savings account with Salem Five Direct, or a savings or checking account with Salem Five Cents Saving Bank.

You can open an account with a $100 minimum deposit. There’s no minimum balance requirement to earn interest on this fee-free account.

At CSBdirect, you can earn 1.01% APY on any balance of $1,000 or more. Balances below that earn 0.55% APY.

You need to make a $100 minimum deposit to open the account and keep that much in the account to earn interest and not pay fees. Otherwise your monthly fee is $2.

CSBdirect is the online division of Citizens State Bank in Perry, Fla. The bank has four Florida branches.

Two other banks pay 1.00% APY:

Barclays ( has no minimum deposit requirement or fees. The bank is part of Barclays Bank PLC of London and has its U.S. headquarters in Wilmington, Del.

CIT Bank ( pays its top rate on balances of $25,000 or more. Lower balances earn 0.90% APY. It takes a $100 minimum deposit to open an account. The account has no fees. CIT Bank is a division of New York-based CIT Group, which offers lending, leasing and advisory services to small and medium-size businesses.

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

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