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Maximize Your Savings with High-Interest CDs and Savings Accounts
The average savings account rate in the US currently sits at a mere 0.42% Annual Percentage Yield (APY) according to the FDIC. However, there are opportunities to earn significantly higher interest on your savings. For instance, Western Alliance Bank, powered by Raisin, offers an impressive 5.15% APY, which is the best savings account rate available today.
When it comes to CDs, the Credit Union One of Oklahoma Promotional Share Certificate takes the lead with an exceptional 6.167% APY for 6-month, 1-year, or 18-month terms. Although these rates are limited to certain parts of Oklahoma, there are still competitive options like the 5.65% APY 9-month certificate from NASA Federal Credit Union available to the general public.
Whether you’re searching for high-yield savings accounts, CDs, checking accounts, or money market accounts, our comprehensive research has got you covered. Here are some of the top-rated options with their current rates:
Best High-Yield Savings Account Rates Today:
- Western Alliance High Yield Savings Account, powered by Raisin: 5.15% APY
- Popular Direct Savings: 5.05% APY
- Salem Five Direct eOne Savings: 5.01% APY
- ONE Account: Up to 5.00% APY
Best CD Rates Today:
- Credit Union One of Oklahoma 6 Month, 12 Month, and 18 Month Promotional Share Certificates: 6.167% APY (Limited to certain areas of Oklahoma)
- First Internet Bank of Indiana 6 Month CD: 5.33% APY
- NASA Federal Credit Union 9 Month Share Certificate: 5.65% APY
Best Checking Account Rates Today:
- Redneck Bank Rewards Checking Account: 0.25% APY to 5.30% APY
- Juno Metal Checking Account: 4.00% to 5.00% APY
- Consumers Credit Union Free Rewards Checking Account: 0.01% to 5.00% APY
Best Money Market Account Rates Today:
- First Internet Bank of Indiana Money Market Account: 3.66% APY on balances up to $1 million, 5.20% APY on balances over $1 million
- CFG Bank High Yield Money Market Account: 5.17% APY
- Pacific Western Bank Money Market Deposit Account, powered by Raisin: 5.15% APY
Discover Competitive Savings Account Options
While you may be familiar with popular national brands, it’s worth exploring lesser-known banks and online institutions that often offer higher savings rates. Here are a few institutions, including both national brands and online banks, that provide competitive rates:
- Synchrony High Yield Savings: 4.30% APY
- SoFi Checking and Savings: Up to 4.30% APY
- Discover Online Savings: 4.15% APY
- Capital One 360 Performance Savings: 4.15% APY
It’s important to note that traditional brick-and-mortar banks generally offer lower interest rates on regular savings accounts. To earn higher rates at these banks, you may need to consider premium savings accounts or money market accounts.
Trustworthy Institutions Insured by FDIC and NCUA
To ensure the safety of your deposits, all the banks and credit unions listed on our platform are FDIC-insured or federally insured by the NCUA. This means that up to $250,000 per depositor is protected, even if the institution were to face closure. In such cases, your insured funds would either be transferred to another insured institution or a check would be issued to you.
Stay Informed with SmartAsset
At SmartAsset, we stay up to date with the latest rate offerings from over three dozen financial institutions. Our goal is to provide you with accurate information to help you make the most of your money. Whether you’re looking for high-interest savings accounts, CDs, checking accounts, or money market accounts, we’ve got you covered. Start maximizing your financial potential today with SmartAsset’s trusted resources.