GOBankingRates Survey Finds the Best Savings Account Rates Today

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Jun 23, 2015, 10:15 ET

LOS ANGELES, June 23, 2015 /PRNewswire/ -- The highest savings account rate today is 33 times the national average at 6.00% APY and is offered by a Seattle-based credit union, according to GOBankingRates' latest survey of savings account interest rates. To help Americans identify the top savings account rates today, GOBankingRates rounded up the 10 best savings account rates in two different categories: online banks and local banks and credit unions.

For the full ranking and review of the best savings account rates today, visit: http://www.gobankingrates.com/savings-account/best-savings-account-rates-today/

"According to our data, the average savings account rate is only 0.18% APY nationwide. However, online banks and local financial institutions stand out as consistently offering the best returns," said Casey Bond, GOBankingRates editor-in-chief. "Credit unions and online-only banks also tend to charge fewer fees, making these great options for depositors looking to keep pace with inflation and boost savings."

The 10 Best Online Savings Account Rates Today:

1. MySavingsDirect MySavings Account
2. GE Capital Bank Online Savings Account (tie)
2. Synchrony Bank High Yield Savings Account (tie)
4. iGObanking.com High Interest Savings Account (tie)
4. Barclays Bank Online Savings Account (tie)
6. Ally Bank Online Savings Account
7. CIT Bank High Yield Savings Account
8. American Express Bank High-Yield Savings Account (tie)
8. Discover Bank Savings Account (tie)
8. Bank5 Connect High-Interest Savings Account (tie)

The 10 Best Local Bank and Credit Union Savings Account Rates Today:

1. School Employees Credit Union of Washington Savings Accounts
2. Guardian Credit Union RoundUp Savings Account
3. Darden Credit Union Savings Accounts
4. The Bank of Greene County e-Savings Account
5. Digital Federal Credit Union Primary Savings Account (tie)
5. First Commerce Credit Union EvenUp Savings Account (tie)
7. Avadian Credit Union Centsible Savings Account
8. Pioneer Mutual Federal Credit Union Share Savings Account
9. Community First Bank e-Savings Account
10. Houston Police Federal Credit Union Share Savings Account

Key Insights:

Best online rate: MySavingsDirect boasts the best online savings account rate today with a 1.25% APY on its MySavings Account, nearly four times the online average. The account also comes with no fees and no minimum deposit requirements.
Credit unions: Eight of the 10 best rates offered by brick-and-mortar institutions belong to credit unions.
Seattle's success: School Employees Credit Union of Washington, based in Seattle, is home to the highest savings account rate in the nation with a 6.00% APY on all of its savings account ― 33 times the national average.

Methodology

Data was compiled via the GOBankingRates interest rate database and verified against the individual institutions' websites. Annual percentage yield was based on the highest available for a personal account and on the minimum deposit required to open an account. For the complete methodology, visit GOBankingRates.com.

About GOBankingRates

GOBankingRates.com is a leading portal for personal finance and consumer banking information, offering visitors the latest on everything from finding a good interest rate to strategies on saving money, investing for retirement and getting a loan. Its editors are regularly featured on top-tier media outlets, including U.S. News & World Report, Forbes, Business Insider, Daily Finance, Huffington Post and more. It specializes in connecting consumers with the best financial institutions and banking products nationwide.

Contact:

Roxy Barghahn
GOBankingRates.com
[email protected]
310-297-9233 x 202

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SOURCE GOBankingRates