The Best Bank Rates: Interest Rates For Your Savings

Shawn Plummer

CEO, The Annuity Expert

There are many factors to consider when it comes to finding the best bank rates. Different banks offer different interest rates and account options, so it can be hard to know which one is right for you. This guide will discuss some of the best bank and credit union rates available and some of the factors you should consider when choosing a bank. We will also provide a few tips on how to get the most out of your banking experience!

First, compare banks across the United States, including high yield savings accounts, CD rates, money market accounts, and annuity rates. Second learn the difference between a bank, a credit union, and an insurance company. Finally, pick out the best interest-earning bank account to grow your money!

This guide is ideal for:

  • Conservative investors are seeking the best Certificate of Deposit (CD) today.
  • Retirees want the highest CD rates for a fixed income.
  • Savers are seeking the best high-yield savings account or money market account.
  • Investors want to compare certificates of deposit and fixed annuities to find the highest fixed interest rate.

Investors will be able to sort by:

  • Annual Percentage Yield (APY) to find the best rate.
  • Financial Institution, Credit Unions, and Online Banks
  • Term of the CD (Short-term and long-term)
  • Use our annuity calculator to solve your rate of return.
Table Of Contents
  1. The Best CD Rates At Banks and Credit Unions
  2. The Best High Yield Savings Account Rates At Banks and Credit Unions
  3. The Best Money Market Rates At Banks and Credit Unions
  4. Popular CD Rates Searches
  5. Popular Money Market Searches
  6. Best CD Rates By State
  7. Where Can I Put My Savings To Make Money?
  8. Where Can I Get The Highest Interest On My Money?
  9. Which Accounts Offers The Best Bank Rates?
  10. What Is The Safest Place To Keep Your Money?
  11. Where Do I Find The Best Bank And Credit Union Rates In The United States?
  12. What Is A Bank?
  13. Different Types Of Banks
  14. What Is A Credit Union?
  15. What Is A Federal Credit Union?
  16. What Is A State-Chartered Credit Union?
  17. How To Choose A Bank
  18. What Is A Bank Rate?
  19. What Are The Different Types Of Bank Savings Accounts?
  20. What Are The Different Types Of Bank Savings Rates?
  21. How To Find The Best Bank Rates
  22. What Are The Most Popular Banks Today?
  23. What Are The Most Popular Credit Unions Today?
  24. What Are The Most Popular Online Banks Today?
  25. What Are The Best Local Banks?
  26. What Are The Best National Banks?
  27. Who offers the best online savings account?
  28. Who Offers The Best Money Market Rates?
  29. Who offers the best CD rates?
  30. How often do bank interest rates change?
  31. Which Credit Unions Offer The Best Interest Rates?
  32. Who Are The Biggest Banks In America?
  33. What Are The Best Savings Accounts For Kids?
  34. Which Bank Offers The Best Student Loans?
  35. What Makes A Good Bank or Credit Union?
  36. How Do I Choose A Bank or Credit Union?
  37. What’s The Difference Between A Bank And A Credit Union?
  38. What Is APY In Banking?
  39. Which Bank Has The Highest APY?
  40. What Is The Difference Between A Savings Account, Money Market Account, Certificate Of Deposit, and Fixed Annuity?
  41. How Is Bank Interest Taxed?
  42. What Are The Pros And Cons Of Bank Accounts?
  43. When Is It Better To Keep Your Money In Cash?
  44. Conclusion
  45. Frequently Asked Questions About Banking

Earn The Highest Interest Rates On Savings Today

Fixed annuities are almost identical to Certificates of Deposit (CDs) accounts and provide higher interest rates and penalty-free withdrawals for income. Why settle for less than 1% on your money when you can earn 3% and liquidity?

TermInsurance CompanyInterest Rate
24 MonthsOceanview3.50%
36 MonthsCanvas Annuity4.30%
48 MonthsOceanview4.10%
60 MonthsAmerico4.20%
72 MonthsAmerico4.30%
*Fixed annuities are only for saving money to use in retirement.

Disclaimer: This is a review. The Annuity Expert is not associated with a bank or credit union. However, fixed annuities are sold at most financial institutions. Our goal is to help you find the highest interest rates for your retirement savings.

The Best CD Rates At Banks and Credit Unions

The Best High Yield Savings Account Rates At Banks and Credit Unions

Shop and compare the high-interest savings account across the United States.

High Yield Savings Account

The Best Money Market Rates At Banks and Credit Unions

Money Market Rates

Best CD Rates By State

Where Can I Put My Savings To Make Money?

Banks, credit unions, and insurance companies offer different types of accounts that can help you grow your money. The most common type of account is a savings account. Savings accounts typically have lower interest rates than other accounts, but they are still safe places to store your money. Many banks also offer special promotions for new customers, so it’s worth shopping around to see what offers are available.

If you are looking for a higher interest rate, you may want to consider a money market account or a certificate of deposit. Money market accounts typically have higher interest rates than savings accounts, but they also have higher minimum balance requirements. Certificates of deposit usually have the highest interest rates, but you will be required to keep your money in the account for a set period of time.

If you want your money to earn the highest rate on your savings, a fixed annuity will guarantee to grow the fastest.

When choosing a bank, credit union, or insurance company, you should also consider the fees they charge. Some banks charge monthly maintenance fees, ATM fees, or other charges. These fees can add up, so it’s important to find a bank that doesn’t charge them. Many credit unions offer free checking and savings accounts with no monthly fees.

Where Can I Get The Highest Interest On My Money?

Fixed annuities offer higher interest rates than other accounts, but they also typically have longer terms (starting at two years in length). Savings account rates will vary depending on the bank and the current market conditions. Money market account rates can also vary depending on the bank and the current market conditions. Certificates of deposit typically offer higher interest rates than savings and money market accounts. Still, they require you to keep your money in the account for a set period of time.

All of these types of accounts are sold in banks and credit unions.

Which Accounts Offers The Best Bank Rates?

Learn the benefits and advantages of CDs and fixed annuities with our guide, then compare the best fixed annuity rates.

Compare CD Rates From 423 Banks And Credit Unions

Find the highest interest rates for your savings ranging from 3 months to 5 years.

What Is The Safest Place To Keep Your Money?

The FDIC (Federal Deposit Insurance Corporation) and the NCUA (National Credit Union Administration) are government agencies that insure deposits in banks and credit unions. If your bank or credit union fails, you will still get your money back up to a certain amount. The FDIC insures deposits up to $250,000 per account, and the NCUA insures deposits up to $250,000 per account.

You can also choose to keep your money in a safe at home, but the government does not ensure this. If you are worried about losing your money, you may consider investing it in a CD or another type of FDIC or NCUA insured account.

Where Do I Find The Best Bank And Credit Union Rates In The United States?

The Annuity Expert website lists the best bank and credit union rates in the United States. This list of over 400 banks, credit unions, and financial institutions is updated regularly, so you can be sure you are getting the most up-to-date information.

What Is A Bank?

A bank is a financial institution that accepts deposits and offers loans. Banks are regulated by the government, ensuring they are safe and sound. When you deposit money in a bank, you essentially loan that money to the bank. The bank will use that money to offer other people or businesses loans. In return for loaning your money, the bank will pay you interest. The amount of interest you earn will depend on your account type and current market conditions.

Different Types Of Banks

There are many different types of banks, including commercial banks, savings and loan associations, credit unions, and investment banks. Each type of bank offers different services and products. Commercial banks are the most common type of bank. They offer checking and savings accounts, loans, and other financial products. Savings and loan associations are similar to commercial banks but often have higher interest rates. Credit unions are member-owned cooperatives that offer many of the same services as commercial banks. However, credit unions typically have lower fees and interest rates. Finally, investment banks provide services to companies and investors, such as underwriting, issuing securities, and providing financial advisory services.

What Is A Credit Union?

A credit union is a not-for-profit financial cooperative owned and controlled by its members. Credit unions offer many of the same services as banks, including savings accounts, checking accounts, loans, and credit cards. However, credit unions typically have lower fees and interest rates. One of the main benefits of belonging to a credit union is that you have a say in how the credit union is run. Credit unions are governed by a board of directors, which the members elect.

What Is A Federal Credit Union?

A federal credit union is a credit union regulated by the National Credit Union Administration (NCUA), a federal government agency. Federal credit unions must follow certain rules and regulations, such as having a minimum amount of capital, maintaining reserves, and being insured by the NCUA.

What Is A State-Chartered Credit Union?

A state-chartered credit union is a credit union regulated by the state government. State-chartered credit unions must follow certain rules and regulations, such as having a minimum amount of capital, maintaining reserves, and being insured by the FDIC or NCUA.

How To Choose A Bank

When choosing a bank, there are several factors you should consider. First, think about what type of services you need. Do you need a checking account, savings account, loan, or credit card? Each type of account has different features and benefits. Make sure to compare the fees, interest rates, and terms before you decide which account is right for you. Second, consider the location of the bank. Do you want a local bank or a national bank? Local banks typically have more personal service, while national banks often have more branches and ATMs. Third, think about the bank’s reputation. Research the bank’s history and read customer reviews to understand what other people think of the bank.

What Is A Bank Rate?

A bank rate is the interest rate that a bank charges on loans. The Federal Reserve determines the bank rate, which is usually higher than the Prime Rate. Banks use the bank rate to price their loans, so it’s important to compare rates before you choose a loan.

The best way to find the best bank rates is to shop around and compare rates from different banks. It’s also important to consider the type of account you need and the associated fees. When comparing rates, look at the Annual Percentage Rate (APR) rather than the interest rate. The APR includes all the fees associated with a loan, so it’s a better way to compare rates.

Shopping around and comparing rates from different banks is important to get the best bank rates. First, consider the type of account you need and the associated fees. Then, when comparing rates, look at the Annual Percentage Rate (APR) rather than just the interest rate. The APR includes all the fees associated with a loan, so it’s a better way to compare rates.

When you’re ready to choose a bank, consider the factors that are important to you. For example, some people prefer local banks, while others prefer national banks. It’s also important to consider the services you need and their fees. Once you’ve considered all of these factors, you’ll be able to choose the best bank for your needs.

What Are The Different Types Of Bank Savings Accounts?

There are several different bank savings accounts, including regular savings accounts, money market accounts, and certificates of deposit. Each type of account has different features and benefits.

A regular savings account is a basic savings account that doesn’t offer any special features. Money market accounts earn higher interest rates than regular savings accounts but typically have higher minimum balance requirements. Certificates of deposit earn higher interest rates than regular savings and money market accounts but require you to keep your money in the account for a set period of time.

When you’re ready to choose a bank, consider the factors that are important to you. For example, some people prefer local banks, while others prefer national banks. It’s also important to consider the services you need and their fees. Once you’ve considered all of these factors, you’ll be able to choose the best bank for your needs. Here’s an overview:

  • Checking accounts are a type of bank account that allows customers to write checks to withdraw cash or make payments.
  • Savings accounts are a type of bank account that allows customers to save money and earn interest on their deposits.
  • Money market accounts are a type of savings account that offers higher interest rates than regular savings accounts but typically have higher minimum balance requirements.
  • Certificates of deposit are bank accounts that earn higher interest rates than regular savings and money market accounts but require you to keep your money in the account for a set period.

What Are The Different Types Of Bank Savings Rates?

The three most common bank savings rates are fixed-rate, variable-rate, and tiered. Fixed-rate means that the interest rate will not change for the term of the account. Variable-rate means that the interest rate can change at any time. Tiered rates mean the interest rate goes up as your balance increases.

When you’re looking for the best bank rates, it’s important to compare the different types of rates. Fixed-rate accounts are typically more stable, but variable rate accounts can offer higher interest rates. Tiered accounts offer the potential for higher interest rates, but you need to have a high balance to qualify.

How To Find The Best Bank Rates

The best bank rates will vary depending on the type of account you have and the current market conditions. However, there are a few general tips you can follow to get the best rates:

  • Shop around: Don’t just open an account with the first bank you come across. Instead, compare rates from different banks to find the best deal.
  • Ask about deals and promotions: Many banks offer special deals and promotions to new customers. Ask about these when you are shopping around.
  • Know what you want: Make sure you know what type of account you need before you start shopping around. This will help you narrow down your options and find the best rates.
  • Read the fine print: Read all the terms and conditions before opening an account. This will help you avoid any hidden fees or charges.

What Are The Most Popular Banks Today?

The most popular banks today are Chase, Bank of America, and Wells Fargo. These banks offer a variety of products and services, including checking and savings accounts, loans, and credit cards. They also have branches in most states across the country.

What Are The Most Popular Credit Unions Today?

Today’s most popular credit unions are Navy Federal Credit Union, USAA, and PenFed Credit Union. These credit unions offer a variety of products and services, including checking and savings accounts, loans, and credit cards. They also have branches in most states across the country.

What Are The Most Popular Online Banks Today?

Today’s popular online banks are Ally Bank, Discover Bank, and Capital One 360. These banks offer a variety of products and services, including checking and savings accounts, loans, and credit cards. They also have branches in most states across the country.

What Are The Best Local Banks?

The best local banks will vary depending on your needs and the products and services you are looking for. However, some of the best local banks include BB&T, PNC, and TD Bank. These banks offer a variety of products and services, including checking and savings accounts, loans, and credit cards. They also have branches in most states across the country.

What Are The Best National Banks?

The best national banks will vary depending on your needs and the products and services you are looking for. However, some of the best national banks include Chase, Bank of America, and Wells Fargo. These banks offer a variety of products and services, including checking and savings accounts, loans, and credit cards. They also have branches in most states across the country.

Who offers the best online savings account?

CIT Bank offers the best online savings account with an annual percentage yield (APY) of 0.85%. This rate is subject to change at any time. Ally Bank and Discover Bank are also popular online banks that offer high-interest rates on their savings accounts.

Who Offers The Best Money Market Rates?

The best money market rates will vary depending on the bank and the current market conditions. However, some of the most popular banks that offer high-interest rates on their money market accounts include Ally Bank, Discover Bank, and Capital One 360.

Who offers the best CD rates?

The best CD rates will vary depending on the bank and the current market conditions. However, some of the most popular banks that offer high-interest rates on their CDs include Ally Bank, Discover Bank, and Capital One 360.

How often do bank interest rates change?

Bank interest rates can change at any time. However, they typically do not change very often. If you are concerned about interest rate changes, you may consider opening a fixed-rate account.

Which Credit Unions Offer The Best Interest Rates?

The best credit union interest rates will vary depending on the credit union and the current market conditions. However, some of the most popular credit unions that offer high-interest rates on their products include Navy Federal Credit Union, USAA, and PenFed Credit Union.

Who Are The Biggest Banks In America?

The three biggest banks in America are JPMorgan Chase, Bank of America, and Wells Fargo. These banks offer a variety of products and services, including checking and savings accounts, loans, and credit cards. They also have branches in most states across the country.

What Are The Best Savings Accounts For Kids?

One of the best savings accounts for kids is the Capital One Kids Savings Account. This account offers a variety of features, including no minimum balance, no monthly fees, and a high-interest rate. Another popular option for kids is the Discover Cashback Debit Account. This account also offers a variety of features, including no minimum balance and no monthly fees. Finally, the Ally Bank Interest Checking Account is a great option for kids interested in earning interest on their deposits.

The best college savings plan is with Gerber Life Insurance. Their plans offer a variety of features, including no monthly fees, high-interest rates, and flexible terms. gerberlife.com is a great resource for more information on these two college savings plans.

Which Bank Offers The Best Student Loans?

The best student loans will vary depending on the student’s needs and the current market conditions. However, some of the most popular banks that offer student loans include Sallie Mae, Discover, and Chase.

What Makes A Good Bank or Credit Union?

There are a few things that make a good bank or credit union. Some of these things include low fees, high-interest rates, and a wide variety of products and services. Additionally, good banks and credit unions typically have branches in most states.

How Do I Choose A Bank or Credit Union?

You should consider a few things when choosing a bank or credit union. Some of these things include the fees they charge, the interest rates they offer, and the products and services they provide. Additionally, you should ensure that the bank or credit union has branches in your state.

You can also check out our list of the best banks and credit unions.

What’s The Difference Between A Bank And A Credit Union?

The main difference between a bank and a credit union is that a credit union is a nonprofit organization while a bank is for-profit. In addition, credit unions typically have lower fees and interest rates than banks. Finally, credit unions are typically more localized than banks.

What Is APY In Banking?

APY stands for Annual Percentage Yield. It is the interest rate earned on an account over a year. The higher the APY, the more interest you will earn on your account.

Which Bank Has The Highest APY?

The bank with the highest APY will vary depending on market conditions. However, some of the most popular banks that offer high APYs include Ally Bank, Discover Bank, and Capital One 360.

What Is The Difference Between A Savings Account, Money Market Account, Certificate Of Deposit, and Fixed Annuity?

  • A savings account is a type of account that allows you to deposit money and earn interest on your balance.
  • A money market account is similar to a savings account but typically has higher interest rates and requires a higher minimum balance.
  • A certificate of deposit is an account that allows you to earn interest on your deposited funds for a set period of time.
  • A fixed annuity is an insurance policy for retirement savings that allows you to earn interest on your deposited funds for a set period of time.

How Is Bank Interest Taxed?

Bank interest is typically taxed at your marginal tax rate. For example, if you are in the 25% tax bracket, you will owe 25% in taxes on any interest you earn from your bank account. Savings, money market, and CD interest are taxed annually. Fixed annuities are tax-deferred, meaning you will not owe taxes on the interest you earn until you withdraw the money from your account.

What Are The Pros And Cons Of Bank Accounts?

The pros of bank accounts include earning interest on your deposited funds, the safety of your deposits, and the convenience of having a bank account. The cons of bank accounts include the fees banks charge, the interest rates they offer, and the limited number of products and services they provide.

When Is It Better To Keep Your Money In Cash?

There are a few instances when keeping your money in cash is better. These instances include when you need to make a large purchase, when traveling, and when you are worried about the stock market’s stability. Additionally, keeping your money in cash can help you avoid debt and save for emergencies.

Conclusion

You now have the information to decide on the best bank rates for your needs. Whether you are looking for a traditional bank or credit union, or if you want to explore your options with fixed annuity rates, our team is here to help. Contact us today for a free consultation and quote – we look forward to working with you!

The Best Bank Rates For Saving Money

Frequently Asked Questions About Banking

Where can I put my money to earn the most interest?

Fixed annuities will give you a higher interest rate than certificates of deposit, money market accounts, and high-yield savings accounts.

How Do I Transfer Money From One Bank To Another?

Transferring money from one bank to another is called a wire transfer. To do a wire transfer, you must provide the receiving bank’s routing and account numbers. You can typically wire transfer online or by visiting your local branch.

What Is A Routing Number?

A routing number is a nine-digit number used to identify a financial institution. The routing number can be found at the bottom of a check.

What Is An Account Number?

An account number is a unique identifier for your bank account. The account number can be found at the bottom of a check.

How Do I Open A Bank Account?

Opening a bank account will vary depending on your chosen bank. However, most banks will require you to provide personal information, such as your name, address, and proof of ID. You may also be required to make an initial deposit into your account.

How Do I Close A Bank Account?

The process of closing a bank account will vary depending on the bank that you choose. However, most banks will require that you provide written notice of your intent to close the account. You may also be required to withdraw all funds from your account and close any outstanding debts.

What Is A Bank Statement?

A bank statement is a document showing all the activity in your account for a given period. For example, the statement will show deposits, withdrawals, and any fees or interest charged to your account.

How Do I Get A Bank Statement?

You can typically get a bank statement by logging into your online banking account or visiting your local branch.

What Is Online Banking?

Online banking is a system that allows you to access your bank account and conduct transactions online. For example, online banking can view your account balance, transfer money between accounts, and pay bills.

How Do I Use Online Banking?

The online banking process will vary depending on the bank you choose. However, most banks require you to create an online account and log in with a username and password. Once logged in, you can view your account balance and conduct transactions.

Is Online Banking Safe?

Online banking is generally safe. However, you should take precautions to protect your account information, such as using a strong password and not sharing your login information with others. Additionally, you should only log into your account from a secure computer and network.

What Are The Benefits Of Online Banking?

The benefits of online banking include the ability to view your account balance, transfer money between accounts, and pay bills. Additionally, online banking is typically more convenient than visiting a branch.

What Do I Need To Open A Bank Account?

The requirements for opening a bank account will vary depending on your chosen bank. However, most banks will require you to provide personal information, such as your name, address, and proof of ID. You may also be required to make an initial deposit into your account.

Which Bank Account Is The Most Liquid?

The most liquid bank account is typically a checking account. This is because you can easily access the funds in your account, and there are no penalties for withdrawing money from your account.

How Do I Join A Credit Union?

Joining a credit union will vary depending on your chosen credit union. However, most credit unions will require you to provide personal information, such as your name, address, and proof of ID. You may also be required to make an initial deposit into your account.

What Are Early Withdrawal Penalties?

An Early Withdrawal Penalty is a fee you may charge if you withdraw money from your account before a certain date. The penalty will vary depending on the bank and the type of account.

What Is A Minimum Balance?

A minimum balance is the lowest amount of money you can have in your account without being charged a fee. The minimum balance will vary depending on the bank and the type of account.

What Is A Monthly Service Fee?

A monthly service fee is a fee that you may be charged for maintaining your account. The monthly service fee will vary depending on the bank and the type of account.

What Is An Overdraft Fee?

You may be charged an overdraft if you spend more money than you have in your account. The overdraft fee will vary depending on the bank and the type of account.

What Is A Wire Transfer Fee?

A wire transfer fee is a fee that you may be charged for transferring money between banks. The wire transfer fee will vary depending on the bank and the type of account.

Disclaimer: I may receive a small referral fee if you purchase something using a link in this article.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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