Collin Bank is offering a good deal on its Affinity Savings Account. It has an interest rate of 1.26% APY on all balances of $100 and above. This is listed in the bank's Affinity Savings page as of 2/10/2012. There is a $15 monthly service fee if a $2,500 minimum balance isn't maintained.
I last reported on this bank in July 2010 when it was offering some competitive CD rates. Its current CD rates are not competitive.
It appears that a branch visit is required to open an account. It's a small bank, but it's expanding. It recently added an office in Plano. Its main office is located in Frisco.
The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 19.70% (average) based on September 2011 data. Please refer to our financial overview of Collin Bank for more details. The bank has been a FDIC member since 2008 (FDIC Certificate # 58610).
How This Savings Account Rate Compares
This rate is 11 basis points higher than the best savings account rate that's nationally available. The best rate is 1.15% APY at Flagstar Bank (4-mo intro rate), at My Banking Direct and at AmTrustDirect. These rates are accurate as of 2/10/2012.
The one downside with savings accounts is that typically there is no rate guarantee. Rates can fall at anytime, and they can fall substantially. The latest example of this is the savings account at UFB Direct. For five months, this account had a top yield of 1.30%. In the last three weeks the rate has fallen 35 basis points. The yield is now 0.95% as of 2/10/2012.
Searching for The Highest Savings Account Rates
The best rates can be from savings accounts, money market accounts or checking accounts. You can use our tables to find the best rates: