Saving Account Interest Rate

These often earn higher interest rates than a traditional savings account but they work a bit differently.

Saving account interest rate. The higher the rate the more savings account interest you. Let s say you have 1 000 in the bank and the account earns 1 interest. The average interest rate for savings accounts is 0 1 percent. Interest rates for savings accounts and related savings vehicles varied widely from as low as 0 01 percent annual percentage yield to as high as 6 17 percent introductory apy good for up to.

Here are bankrate s selections for the best savings account rates from top online banks. Back in september 2019 the national rate was 0 09 according to the fdic. Discover 0 80 apy. Knowing how interest on savings accounts works can help investors earn as much as possible on the money they save.

Citibank 0 90 apy. Old dominion national bank has a cd with a minimum deposit of 500. And while they are still a less risky way to earn money national interest rates have been steadily dropping this year. The best savings interest rates can mean the difference between your savings account earning 100 or only a few dollars in a year.

American express national bank 0 80 apy. The highest interest rates are significantly better than the. With a cd you deposit a set amount of money with fixed withdrawal dates and a fixed interest rate. Ally bank 0 80 apy.