By popular demand, and since admin finally enabled HTML tables, see the wiki post below. I’ve taken the old FWF thread, cross referenced the PWF thread, updated most links and rates, and culled everything below 1.25% since one can hardly call it “best”.
Min = sometimes minimum $ to open, sometimes minimum $ for the rate.
MM, MMA = Money Market (Savings) Account
OSA = Online Savings Account
HYS = High Yield Savings (Account)
HYC = High Yield Checking (Account)
SA = Savings Account
Chk = Checks
Dbt = Debit Card (yes or no, A = ATM Card)
ACH = ACH Origin/Destination
Th = link to a discussion thread
Please keep the tables below sorted by APY (from highest to lowest), then SINCE date (from oldest to most recent).
Please Note: The table below hasn’t been updated since circa 2019. See the most recent posts in this thread for rates.
Most Reward Checking accounts have a cap on the balance that earns their high yield. Any balance above that cap will earn a much lower yield, typically 1.01% APY. They also have stringent requirements that must be met during each statement cycle, such as 10 debit card transactions, 1 direct deposit or other ACH transaction, receiving e-statements, and logging into on-line banking at least once. Not meeting the requirements for a statement cycle usually nullifies other features that might apply, such as ATM rebates, and drops the yield drastically, typically to 0.25% APY.
Thank you so much for this Scripta. I’m looking for a bank to push my float through to scrape some extra pennies. Hopeful some of these are ok with large deposits and then 3-4 large W/D a month.
Just be aware a typical savings account by federal law allows 6 “free” withdrawals a month where additional ones may incur fee’s or even get the account closed if done continually. You may come out ahead doing one or two even larger withdrawels into a checking account and then doing multiple smaller ones from the checking.
Should make $300+ next year just off of depositing my MO to the UFB MMA account, letting them sit for the float, and then paying CC bills. Thanks again @scripta.
Thank you for taking the effort to compile this! Hopefully we will see these rates continue to rise, especially after the FOMC’s federal funds target increase this week.
Added a new rate leader (1.65%). Make sure you read the notes for quirks.
I also earlier corrected the I-Bond and CD thread links as fragiledeal had changed them resulting in 404 errors. I’ve gone into the other threads and corrected THEIR links while I was at it.
Updated DollarSavingsDirect Savings to 1.60%. If you upgrade an interest rate please MOVE the entry to the appropriate place in the table. Just look for a starting
and an ending
around the bank info.
With DollarSavingsDirect Bank’s new rate it becomes THE place to park cash coming out of regular 12-15 month cd’s that have EWP. This gives you the time to research the best rate although Ally’s 1.75% for the no penalty 11 month and 2% for their normal 12 month cd (only 60 day interest EWP which is very small for this category) are still the best I know of for short term rates.
Sorry this blurs the lines between cd’s and liquid accounts. In my opinion a great rate for folks holding onto liquid capital for investing or rainy day emergency funds.
I’m not sure who this comment is directed at. The table was sorted correctly and I moved my previous entry.
It looks like you yourself made a mistake and moved one extra entry and gave it an incorrect APY (SalemFive). I still see the old rate, so I corrected the wiki.
Unless I read it wrong (and it appears to have been changed now) there was a 2nd bank that was showing 1.60% however it was down in the middle of the banks showing 1.50% rather than right below the 1.65%. I moved it up so it was listed by descending interest rate.
Interest is deposited monthly and was just paid out on 12/31/2017. I would assume it would be showing 1.60% before the next payout but it’s certainly worth asking customer service. With it showing right on their homepage 1.60% and no mention of “only new customers” or anything like that I would think everyone would be eligible.