According to the FDIC, the national average interest rate on savings accounts currently stands at 0.09% APY.
What is the best bank for savings interest rate?
Best Savings Accounts & Rates of July 2019
- Best Rate: Vio Bank – 2.52% APY.
- Runner-up: WebBank – 2.50% APY.
- High Rate: Comenity Direct Bank – 2.45% APY.
- High Rate: MySavingsDirect – 2.40% APY.
- High Rate: CIBC Bank USA – 2.39% APY.
- High Rate: Citibank – 2.36% APY.
- High Rate: Popular Direct – 2.36% APY.
How much interest does Chase pay on savings accounts?
0.01% (effective 6/14/19; rates are variable and subject to change) for Chase SavingsSM. The average national rate for savings accounts is 0.09% APY. Chase Premier savings relationship rates are between 0.04% and 0.09% APY (effective 3/15/19; rates are variable and subject to change), depending on your balance.
What is the interest rate for a Bank of America savings account?
Bank of America has other savings options, but they don’t earn much interest, either. The bank offers certificates of deposit; you can open a Bank of America CD with $1,000, which is steep. Rates start at 0.03% APY and go up to 0.75% APY, depending on term length and deposit amount.