bank rates

Top Savings Account Rate Drops To 1.16%

Earn 1.21% with a minimum deposit of $500.Three of the banks offering the best nationally available savings account rates have cut their yields over the past two weeks.

SFGI Direct reduced its return from 1.21% APY to 1.16% APY just today, but continues to lead our rankings.

The online division of Summit Community Bank, which has 15 branches in Virginia and West Virginia, requires a $500 minimum deposit to open an account.

Clear Sky Accounts is down but not out of the rankings. American Express Bank is down and out, having dropped its rate to 1.00% APY.

After SFGI Direct (www.sfgidirect.com), here are the banks now offering the best nationally available savings account rates:

Discover Bank (www.discoverbank.com), the online bank owned by the credit card company, which pays 1.15% APY with a $500 minimum deposit to open.

CNB Bank Direct (www.cnbbankdirect.com), the online division of Citizens National Bank of Bluffton, Ohio, which pays 1.15% APY and has no minimum deposit requirement.

Clear Sky Accounts (www.clearskyaccounts.com), the online division of Chesapeake Bank of Williamsburg, Va., which pays 1.10% APY and has no minimum deposit requirement.

Capital One Bank (www.capitalone.com), which has 1,000 branches in the east and south. It pays 1.10% APY with a $1,000 minimum balance.

Sallie Mae Bank (www.salliemae.com), which is owned by the student loan company. It pays 1.10% APY and has no minimum deposit requirement.

Colorado Federal Savings Bank (www.coloradofederalbank.com), which pays 1.10% APY and requires a $2,500 minimum deposit. The online bank is headquartered in Greenwood Village, Colo.

Banks qualify for our rankings by allowing anyone to open an account, regardless of where they live, either online or through the mail.

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

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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on July 11th at 06:23 am

    All of these rates are still available today.

  2. Kathy at Bankaholic said:
    on July 25th at 10:51 am

    You can still get all of these rates as of today.