bank rates

Top Savings Accounts: More Choices

Calculator on top of a pile of moneyWe’re adding two banks to our list of the best nationally available savings accounts.

Bank X ( pays 0.95% APY on its High X Savings account. The account has no minimum balance requirements to open an account or earn interest, and it carries no monthly fees. Bank X is a division of BofI Federal Bank, based in San Diego.

Bank5 Connect ( pays 0.90% APY on its savings account. You only need a $10 minimum deposit to open an account, but you need to have at least $100 in your account to earn interest. The account has no monthly fees. Bank5 Connect is the online division of BankFive, located in Fall River, Mass. It has a dozen locations in Massachusetts.

Those offers are topped only by the 1% APY offered by The Palladian PrivateBank (

The big challenge with Palladian PrivateBank has been its website, which was offline for a week recently, so you should keep that in mind if you plan to open an account there.

It also has stiffer requirements than the other leading banks. You need to make a minimum deposit of $10,000 to open an account, and if you don’t keep that much in your account, you’ll pay a $10 monthly fee. But even if your balance falls below $10,000, you’ll still earn 1.00% APY on your savings.

Palladian is the online division The PrivateBank and Trust Co., headquartered in Chicago. The bank has about three dozen locations in nine states, mostly in the Midwest.

Three other banks pay 0.90% APY:

GE Capital Bank ( has no minimum deposit requirement to open an Online Savings Account. All money in your account earns interest, and the account has no fees. GE Capital Bank is chartered in Utah and owned by General Electric Capital Corp.

Barclays ( also has no minimum deposit requirement to open an account, and the account has no fees. The bank is part of Barclays Bank PLC of London, with U.S. headquarters in Wilmington, Del.

Salem Five Direct ( requires a $100 minimum deposit on its eSavings Account. Like the others, you don’t need to keep a certain amount in your account to earn interest, and there are no fees. You can’t already have a savings account with Salem Five Direct to open this account, and you can’t have a checking or savings account with its parent company, Salem Five Cent Saving Bank in Salem, Mass. The bank has about two dozen branches in the Boston area.

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

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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on September 6th at 09:56 am

    Bank X has cut its savings rate to 0.60% APY, which is no longer competitive.