bank rates

Southern Deal: 1.29% Savings Rate

Randolph Bank pays this rate with no minimum balance required.Southerners can earn one of the best savings account rates in the country from Asheboro, N.C.-based Randolph Bank.

It’s paying 1.29% APY on its Extra-Mile Smart Savings Account, available to residents of Florida, Georgia, North and South Carolina, Tennessee and Virginia.

That rate tops the best nationally available savings account rates of 1.21% offered by SFGI Direct.

Opening an account requires only a $50 minimum deposit. There are no monthly fees and no minimum balance requirement. Customers are required to sign up for eStatements, and can only make six withdrawals per month.

While Randolph Bank (www.randolphbank.com) has seven branches in North Carolina, the Extra-Mile Smart Savings Account must be opened online.

If you don’t live in one of the six states where the account is available, your best bet may be SFGI Direct, which is the online division of Summit Community Bank of Moorefield, W.Va. You need a minimum deposit of $500 to open an account.

You can compare these deals with the best money market and savings account rates in our extensive database.

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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on June 22nd at 10:44 am

    This savings rate is still available as of today.

  2. Kathy at Bankaholic said:
    on July 11th at 08:16 am

    You can still get the 1.29% APY rate as of today.