bank rates

Top Savings Account Back Near 1%

CIT Bank offers the top nationally available savings rate.For the first time in months, the best nationally available savings rate pays less than 1.25% APY, dropping to a lowly 1.05% APY — and that’s for balances of at least $25,000.

Back in February, the best rate was a sad 1.00% APY, and then TIAA Direct entered the market with a savings account that paid 1.25% APY.

The savings picture brightened.

But with TIAA Direct cutting off accounts from new customers, CIT Bank ( has been propelled into first place with its CIT Savings account, which pays 1.05% APY.

However, you need to keep at least $25,000 in your account to earn that rate. Smaller balances earn 0.90% APY.

The bank’s parent, CIT Group, is located in New York and provides lending, leasing and advisory services to small and midsize businesses.

If you don’t have $25,000 to set aside, two other banks pay 1.00% APY.

KeySource Commercial Bank (, with a single location in Durham, N.C., offers its savings account with a $100 minimum deposit for nearby residents who can open an account at a branch. An online account requires a $5,000 minimum deposit. You pay no monthly fees if you keep at least $300 in your account.

Barclays ( has no minimum balance requirement and no fees. Barclays is part of Barclays Bank PLC of London, and its U.S. operations are based in Wilmington, Del.

Of course, you can still earn 1.25% APY with one of two nationally available money market accounts.

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

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