10 best savings account rates
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Here’s why you should never settle for just any savings account: The very best accounts pay more than 15 times higher than average.

Best savings account rates

  • DollarSavingsDirect: 1.50%
  • Salem Five Direct: 1.50%
  • Live Oak Bank: 1.40%
  • Popular Direct: 1.40%
  • PurePoint Financial: 1.40%
  • CIT Bank: 1.35%
  • SFGI Direct: 1.31%
  • Barclays: 1.30%
  • Synchrony Bank: 1.30%
  • Goldman Sachs Bank USA: 1.30%



Skip your corner bank and look to the best nationally available accounts, which could really boost your earning power.

The best savings account rate available to all savers is 1.5 percent APY. But there are more than two dozen banks that offer either savings or money market account rates as high as 1 percent APY.

Compare the best savings accounts and pick the one that offers the right minimum balance and interest rate for your financial situation.

Differences among the best savings accounts

Notice many of these top offers come from online banks. Without the brick-and-mortar overhead, these banks may be able to offer more competitive rates.

10 best savings account rates

Bank APY Minimum balance
DollarSavingsDirect 1.50% $1
Salem Five Direct 1.50% $100
Live Oak Bank 1.40% $0
Popular Direct 1.40% $5,000
PurePoint Financial 1.40% $10,000
CIT Bank 1.35% $100
SFGI Direct 1.31% $1
Barclays 1.30% $0
Synchrony Bank 1.30% $0
Goldman Sachs Bank USA 1.30% $1

At the top of the list is DollarSavingsDirect. Its Dollar Savings Account:

  • Pays 1.5 percent APY.
  • Charges no monthly maintenance fees.
  • Requires a $1 minimum balance to earn interest.

The bank is an online division of Emigrant Bank, which has served New Yorkers for more than a century. Emigrant Bank earned four out of five stars on Bankrate’s latest Safe & Sound Ratings, which measure the financial health of banks and credit unions throughout the United States.

Next is Salem Five Direct, whose eOne Savings Account:

  • Pays 1.5 percent APY.
  • Charges no monthly maintenance fees.
  • Requires no minimum balance.

The bank is the online division of Salem Five, a community bank founded in 1855. It earned four out of five stars from Safe & Sound.

Live Oak Bank pays a top rate, too. Its savings account:

  • Pays 1.4 percent APY.
  • Charges no monthly maintenance fees.
  • Requires a $0.01 minimum balance to earn interest.

The bank has supported small business owners since it opened in 2008. Live Oak Bank, which is based in Wilmington, North Carolina, earned five out of five stars from Safe & Sound.

Calculate how much you stand to make with all these offers using our simple savings calculator.

Watch for changing savings account rates

Some banks have been gradually increasing interest rates in response to the Federal Reserve, which has increased its benchmark interest rate three times in recent months. The Fed last hiked rates in June by a quarter percentage point. The central bank’s rate setting committee is still on track to increase rates one more time in 2017.

Though this could mean you’ll pay more interest on credit cards and auto loans, it also could mean higher interest rates on savings accounts. Keep an eye out for the ripple effects of the Fed’s decisions.

In the meantime, if you’re looking for a guaranteed return, compare the best savings rates with the top CD rates.

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