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New York Savings Account Beats Top Deals

blue piggy bankNew York City residents: Are you looking for a new savings account?

Atlas Bank might be the place for you.

While its once shining CD rates (we featured this bank in early 2012) are now pretty dull, Atlas Bank offers a Statement Savings Account that pays more than the top nationally available deal.

While 1.01% APY is anemic, that’s a higher rate than any bank currently offers to savers in all U.S. states.

Many of the savings accounts available nationwide have been plagued by rate cuts in recent weeks. Barclays (www.banking.barclaysus.com) and Salem Five Direct (www.salemfivedirect.com) are the current savings leaders, offering a lowly 0.90% APY.

At Atlas Bank, you’ll earn 1.01% APY if you have $100 or more in your savings account, and there are no special conditions attached to the account.

You just need to make a minimum deposit of $100 to open an account, and you’ll need to keep at least that much in your account to earn interest and avoid a $4 monthly service fee.

A branch visit is required to open a savings account. There are two branches: in Brooklyn at 689 Fifth Ave. and in Staten Island at 339 Sand Lane.

For more information, visit www.atlasbank.com or call 718-768-4800.

This offer is slightly less than the best nationally available money market accounts.

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