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Best Bank Account Interest Rates - Summary For April 20, 2021


In the last two weeks, Synchrony was the only major online bank to lower its savings or money market rate. Its High Yield Savings account rate fell from 0.50% to 0.40%. I’m hoping that the other major online banks won’t follow Synchrony and other major online banks that have already cut their savings account rates to 0.40% (including Capital One, Barclays, American Express, Discover, PurePoint Financial, FNBO Direct, and Citizens Access). We’ll see how long Ally, Marcus, and a few other major online banks will hold on to their 0.50% rates.

In addition to Synchrony, a few of the smaller online banks lowered their savings, checking or money market rates in the last two weeks. Most continue to have rates that are above the average online savings account rate. Most of the smaller online banks often launch with above-average rates that last for a few months, but many will typically fall close to the average over the long run. The best ones like SFGI Direct, Vio Bank and Live Oak Bank will be able to maintain above-average rates for multiple years. However, even these will rarely maintain rates that are significantly above the average.

The average online savings account rate was 0.47% on April 1st. This is based on our online savings account index which is the average rate of ten well-established online savings accounts. The average has been falling since the start of the pandemic, but the decline has been slowing in the last few months.

I’ve listed the most noteworthy rate changes that have occurred in the last two weeks. I created two lists. The first list includes rate changes from the major online banks. The second includes rate changes from past rate leaders which are generally not well-known names. All percentages are APYs:

Rate changes from the major online banks:

  • Synchrony High Yield Savings (0.50% → 0.40%)

Rate changes from the less well-known CUs & online banks:

  • Paramount Bank Interest Checking (0.85% → 0.75%)
  • CFG Bank High Yield Money Market (0.66% → 0.62%)
  • Popular Direct Select Savings (0.55% → 0.50%)
  • MutualOne Bank Online Savings (0.45% → 0.40%)
  • ableBanking Money Market Savings (0.50% → 0.35%)

Current rate leaders

Only four liquid accounts remain in the 1% group. These are savings, money market or standard checking accounts that have at least a 1% APY without any small maximum balance limits.

There are two fintechs that partner with banks that offer 1.00% APY on their checking accounts. They have no balance limitations and no activity requirements to qualify for the high rate.

The other two accounts in the 1% group are from credit unions.

The latest fintech to be in the 1% group is M1 Finance. This is a brokerage firm and robo-advisor which also offers a checking account called M1 Spend. M1 Finance has partnered with Lincoln Savings Bank which holds the deposits and allows deposits to be FDIC insured. The Spend account has two options: basic and plus. The basic account offers no interest. The plus account offers 1% APY on all balances. The downside with M1 Plus is a $125-per-year maintenance fee that can’t be waived.

The other fintech that is still in the 1% group is T-Mobile Money. Like M1 Finance, T-Mobile Money offers a checking account that earns 1% APY on all balances without any activity requirements. Unlike M1 Finance, T-Mobile Money Checking Account has no monthly service fees. T-Mobile has partnered with BankMobile, which has partnered with Customers Bank, to hold the FDIC-insured deposits (As of January 4, 2021, BankMobile is no longer a division of Customers Bank.) The Checking Account can actually be considered a reward checking account since you can earn 4% APY on up to $3k if activity requirements are met. The requirements to earn 4% APY on up to $3k include: 1) enrolled in a qualifying T-Mobile postpaid wireless plan; 2) registered for perks with your T-Mobile ID; and 3) at least 10 qualifying purchases using your T-Mobile MONEY card (This requirement replaced direct deposit.) The portion of the balance above $3k earns 1.00% APY. Also, the entire balance earns 1.00% APY if the above requirements are not met. Since the 1.00% APY can be earned without meeting any activity requirements, I’ve included the account in the savings/money market category.

The other two institutions in the 1% group are credit unions with easy membership requirements that allow people in any state to join.

The first credit union is Advancial. Its Premium Money Market continues to offer 1.01% APY for balances of at least $100k. This isn’t a new account or rate. Advancial hadn’t been listed in past summaries due to uncertainties in its field of membership being open to people in any state. Those uncertainties have returned. Readers have recently reported that Advancial has gone back to adding roadblocks for people outside its local areas to join. Please see this blog post for more details.

For a non-promotional rate, the highest rate for a liquid account continues to be the money market account from Connexus Credit Union which has a 1.15% APY on balances of at least $100k. Lower tiers include 1.00% APY ($50k), 0.75% APY ($20k), 0.60% APY ($10k), and 0.50% APY ($1k). To qualify for these rates, the member must also maintain an active checking account. I have more details about the Connexus Money Market account in this post on finding 1%+ liquid accounts in 2021.

Paramount Bank’s Checking Account rate is no longer the highest rate for a non-promotional liquid account that’s directly available from a bank. The rate dropped from 0.85% to 0.75%.

The new leader in this category now goes to ZYNLO Bank’s money market account. This account has a rate of 0.80% for all balance, and the minimum opening deposit is only $10. ZYNLO Bank had offered a promotion with a 1.25% APY, but that promotion ended last month. Please refer to my ZYNLO Bank money market review for more details.

Rate guarantees without withdrawal penalties

When rates are falling, the best savings and money market deals are specials that guarantee a rate for a period of time. As you would expect in our current rate environment, these specials have dried up. TIAA Bank was the last one to offer a rate guarantee, but that has ended. TIAA Bank’s Yield Pledge Money Market account no longer has a 1-year intro rate for new customers. There’s now just the ongoing rate which remains at 0.40% for all balances under $10 million.

No-penalty CDs have some of the liquidity of savings and money market accounts, but like CDs, they offer a rate lock which can be useful when rates are falling. No-penalty CDs have become more common at online banks in the last year, and they are something to consider, especially if you already have a savings account at the bank.

Some banks like Marcus by Goldman Sachs make it easy to open and close the No Penalty CDs. You just lose access to the money in the No Penalty CD for the first six days from account funding. After that, you are free to close the CD without penalty

The main issue now is that their rates have been falling. Many now have rates lower than the bank’s savings account. The only reason to open a no-penalty CD with a rate that’s lower than the savings account rate is if you believe the savings account rate will fall below the no-penalty CD rate. Even if that occurs, you may earn more in the savings account if the rate falls slowly.

This was another two-week period without a rate cut on the no-penalty CDs. This has become common this year.

CFG Bank’s 13-month Penalty Free CD remains on top with a 0.62% APY. Rising Bank’s 15-month No Penalty CD is just a little behind with a rate of 0.60%. There is a potential issue with the Rising Bank No Penalty CD. According to the disclosure, interest is credited every three months, and if you close your account before interest is credited, you will not receive the accrued interest. I’m checking with Rising Bank to confirm this. More details are described in the post and in the comments of this Rising Bank No Penalty CD review.

  • 0.62% APY 13-month Penalty Free CD ($500 min) - CFG Bank
  • 0.60% APY 15-month No Penalty CD ($1k min) - Rising Bank (May have some penalties. See above.)
  • 0.55% APY 11-month No EWP CD ($500 min) - USALLIANCE Financial CU
  • 0.55% APY 8-mo No-Penalty CD for AARP members ($500 min) - Marcus by Goldman Sachs
  • 0.50% APY 11-month No Penalty CD (no min) - Ally Bank
  • 0.45% APY 11-month No Penalty CD ($1 min) - Continental Bank via
  • 0.45% APY 7-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
  • 0.45% APY 11-month No Penalty CD ($5k min) - Colorado Federal Savings Bank
  • 0.40% APY 11-month Flex Time Deposit ($100k min) - My eBanc
  • 0.40% APY 3-month No Penalty CD ($1 min) - Continental Bank via
  • 0.35% APY 11-month Flex Time Deposit ($10k min) - My eBanc
  • 0.35% APY 11-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
  • 0.30% APY 11-month No-Penalty CD ($1k min) - CIT Bank
  • 0.30% APY 9-month No Penalty CD ($1 min) - Central Bank of KC via
  • 0.25% APY 13-month No-Penalty CD ($500 min) - Marcus by Goldman Sachs
  • 0.25% APY 6-month No-Penalty CD ($500 min) - Investors eAccess
  • 0.15% APY 11-month No-Penalty CD ($10k min) - PurePoint Financial
  • 0.10% APY 13-month No-Penalty CD ($10k min) - PurePoint Financial
  • 0.10% APY 14-month No-Penalty CD ($10k min) - PurePoint Financial
  • 0.05% APY 11-month Liquid CD ($5k min) - Citizens Access

Remember that when talking about no-penalty CDs (that function like Ally’s No Penalty CD), a longer term is always better. Since you can close these types of no-penalty CDs at any time after the first six days, I can’t think of a reason to choose a shorter-term no-penalty CD if the rate is the same.

Money Market Funds

Another option for your cash instead of savings accounts and money market accounts are money market funds from brokerages. These don’t have FDIC coverage, but they can be reasonable alternatives to deposit accounts. Back when the Fed was holding rates near zero from 2008 to 2015, money market funds had yields of around 0.01%. Now that the Fed has cut rates back to zero, money market fund yields have fallen back to 0.01%.

The 7-day yield of both the Fidelity Money Market Fund and the Fidelity Municipal Money Market Fund remains at 0.01%. This has held steady now for the last several months.

The 7-day yield of the Vanguard Federal Money Market Fund is now at 0.01%. This had been 0.02% in January. The Vanguard Municipal Money Market Fund yield remains at 0.01%.

Reward Checking Accounts

Reward checking account rates have been falling but there haven’t been widespread cuts that we’ve seen with online savings accounts. There were no noteworthy rate cuts on any nationally available reward checking accounts in the last two weeks.

No nationally-available reward checking accounts had rate or balance cap reductions in the last two weeks. However, I just noticed a change to the Quontic Bank High Interest Checking Account that is scheduled to take effect on May 17, 2021. According to Quontic’s website, the following tiered rates will apply when activity qualifications are met:

  • 1.00% APY on up to $100k
  • 0.65% APY on $100k+ to $250k
  • 0.35% APY on $250k+ to $1 million

Overall, reward checking accounts have generally been more resistant to Fed rate cuts than online savings accounts. They’re not immune to cuts. History during the last zero bound period (2008 to 2015) has shown that reward checking accounts can sustain rates significantly higher than online savings account rates during a zero interest rate environment.

Most reward checking accounts have fairly small balance caps and won’t provide much earnings on large balances. However, there are a few nationally available ones in which you can earn high rates on fairly large balances. Here are four:

  • ECCU Kasasa Cash Checking: 3.00% APY on up to $10k and Kasasa Saver: 1.00% APY on up to $100k
  • Presidential Bank Advantage Checking: 2.25% APY up to $25K, 0.65% on portion above $25k
  • Axos Bank Rewards Checking: 1.25% APY up to $150k
  • Quontic Bank High Interest Checking: 1.00% APY up to $100k, 0.65% APY $100k+ to $250k, 0.35% APY $250k+ to $1 million (effective May 17, 2021)

To find the highest reward checking rates and balance caps in your state or nationwide, please refer to our reward checking rate table. If you're new to reward checking, please refer to my blog post, Overview of Reward Checking and Our Reward Checking Table.

Certificate of Deposit Rates

I’m now publishing my CD survey as a separate post. Please refer to my survey of the best CD rates. This recap focuses on liquid accounts.

CD Deals: NASA Federal Credit Union continues to offer a 49-month Special CD with a 1.50% APY for a minimum deposit of $10k. Its shorter-term CD Specials are also good deals (15-month at 0.80% APY and 9-month at 0.75% APY). Please refer to this blog post for more details.

When April began, Advancial Credit Union increased the rates of several of its long-term CDs. Its 5-year Jumbo CD rate is now almost 2% (1.94% APY for a $50k minimum deposit). The only problem with Advancial is that they don’t always offer an easy membership option (and that seems to be the case now.) Sometimes they allow people in any state to become a member by joining the Connex association.

Consumers Credit Union continues to offer top mid-term CD rates. For a $250k minimum deposit, its 20-month CD has a 1.00% APY. Other rates include 0.90% APY for a $100k minimum deposit and a 0.80% APY for a $250 minimum deposit.

This is my new weekly summary with the Fed review split off on a separate blog post. My weekly summaries will now be focused entirely on deposit rates and deals. Please keep all discussion about the Fed, the economy and politics to my Fed/Economy review blog post.

Rates as of April 20, 2021

Checking/Savings/Money Market Accounts:

Connexus Credit Union1.15% ($100k), 1.00% ($50k), 0.75% ($20k), 0.60% ($10k), 0.50% ($1k)Money Market Account (Active checking required)
Keesler Federal Credit Union1.05% ($25 min deposit, unlimited deposits) 1-year FirstStep CD (easy membership in AL, LA, MS) - Account review
Advancial1.01% ($100k min)Premium Money Market - Possible easy membership - membership eligibility has been restricted in the past.
M1 Finance1.00% (all balances, $125 annual fee) M1 Plus Checking (deposits held by a partner bank)
T-Mobile Money1.00% (4.00% up to $3k w/checking requirements)Checking Account (deposits held by a partner bank) - Account review
Security State Bank (KS)0.82% ($110k), 0.60%-0.82% ($100k+), 0.25% (under $100k)Investment Savings Account (linked Investment Checking required), APY is average of Savings and Checking, 0.60%+ APY assumes Savings balance of at least $100k - Account review
ZYNLO Bank0.80%Money Market - Account review
Freedom Northwest Credit Union0.80% ($15k+), 0.65% ($10k+), 0.50% ($5k+), 035% (up to $5k) Rise Money Market (checking account w/$15k min balance required, no online application, small credit union) - Account review
Paramount Bank0.75% (up to $100k), 0.10% APY ($100k+) ($100 min deposit) High-Yield Interest Checking (non-reward checking) - Account review, $100k cap only applies to accounts opened after 3/24/21
U.S. Postal Federal Credit Union0.75% (0.85% with relationship rewards) IRA Savings - See review
Merchants Bank of Indiana0.75% (up to $1m)Money Market Account
Blue Federal Credit Union0.75% ($100k), 0.65% ($50k), 0.55% ($2k) (unlimited additional deposits throughout term) 30-month Expandable CD See review
Nationwide by Axos Bank0.70% ($100 opening)My Savings (requires checking with minimum monthly $1k direct deposit)
FitnessBank0.65% ($250k max) (requires using step tracker app and averaging 12.5k steps/daily) Fitness Savings Account - Account review
Affirm0.65%Affirm Savings (deposits held by a partner bank)
ConnectOne Bank0.65% ($2.5k min)OneConnection Savings - Account review
CFG Bank0.62% ($500 min)13-month Penalty Free CD - Account review
CFG Bank0.62% ($25k min), 0.52% ($1k)High Yield Money Market Account - Account review
Axos Bank0.61% ($250 opening)High Yield Savings - Account review
CommunityWide Federal Credit Union0.60% (penalty-free withdrawals first 5 days of each calendar quarter)High Rate Quarterly Funds Account - Account review
BrioDirect0.60%Money Market - Account review
Live Oak Bank0.60% ($5 million max) Savings Account - Account review
Pen Air Federal Credit Union0.60% ($500 min)15-month Add-On CD - Account review
Prime Alliance Bank0.60% ($1+)Personal Savings - Account review
National Cooperative Bank0.60% ($100 min deposit)Impact Money Market
Marcus by Goldman Sachs0.60% ($500 min)High-Yield Online Savings Account (additional 10 bps for AARP members) - Account review
First Foundation Bank0.60% ($1k min)Online Savings - Account review
Rising Bank0.60% ($1k min)15-month No Penalty CD - (Potential issues, see account review)
Customers Bank0.60% ($25k min)Ascent Money Market Savings
INSBANK Online0.60% ($500k), 0.45% ($250), 0.35% ($75k), 0.15% ($10k), 0.05% (less than $10k)High Yield Personal Money Market
Vio Bank0.57% Online High Yield Savings - Account review
SFGI Direct0.56%SGFI Direct Savings Account - Account review
Comenity Direct0.55% ($100 min)High-Yield Savings - Account review
Alliant Credit Union0.55% ($100 min)High-Rate Savings - Account review
USALLIANCE Financial0.55% ($500)High Dividend Savings - Account review
USALLIANCE Financial0.55% ($500)11-month No Penalty CD Special - Account review
Marcus by Goldman Sachs0.55% ($500)8-month No Penalty CD (AARP members only) - Account review
Quontic Bank0.55% ($5k)High Yield Savings - Account review
CIBC USA (formerly The Palladin PrivateBank)0.52%Agility Savings Account - Account review
SaveBetter.com0.51% ($1 min) High Yield Savings Account (deposits held by Ponce Bank) - Account review
Western State Bank0.50% (up to $3m)High Yield Money Market - Account review
Salem Five Direct0.50% (up to $1m)eOne Savings, new customers only - Account review
Chime0.50% (no min/max, active checking required)Chime Savings Account (deposits held by a partner bank) - Account review
Ally Bank0.50%Online Savings - Account review
Ally Bank0.50% (no min)No-Penalty 11-month CD - Account review
First Internet Bank0.50% (no min) Money Market Savings
Citi0.50%Citi Accelerate Savings Account (Not available in all states, chk relationship required)
Nationwide by Axos Bank0.50%Money Market Plus
TAB Bank0.50% ($1 min)High Yield Savings - Account review
Rising Bank0.50% ($1k min)High Yield Savings - Account review
Spectrum Credit Union0.50% ($2.5k min)Market Edge Savings - Account review
Popular Direct0.50% ($5k min opening deposit) Select Savings - Account review
TotalDirectBank0.50% ($5k min)Direct Money Market Deposit Account (not available in CA or FL) - Account review
Nationwide by Axos Bank0.50% ($300 opening)Regular Savings
Northern Bank Direct0.50% ($5k min)Money Market - Account review
CFSB (Colorado Federal Savings Bank)0.50% ($50k+) Premier Savings (New customers) - Account review
iGObanking.com0.50% ($25k min) iGOmoneymarket, new accounts and new money only - Account review
BankPurely0.50% ($25k min) PurelyMoneyMarket - Account review
TIAA Bank0.50% ($25 min)Basic Savings
PenFed Credit Union0.45% (up to $250k)Premium Online Savings
SaveBetter.com0.45% ($1 min) 11-month No Penalty CD (deposits held by Continental Bank) - Account review
CIT Bank0.45% ($100 min)Money Market - Account review
Marcus by Goldman Sachs0.45% ($500 min)7-month No Penalty CD - Account review
UmbrellaBank.com0.41% ($25k min), 0.25% ($1k)Money Market
Synchrony Bank0.40%High Yield Savings - Account review
MutualOne Bank0.40% ($1m max)Online Statement Savings - Account review
Virtual Bank0.40% eMoney Market Special - Account review
American Express National Bank0.40%High Yield Savings - Account review
CFSB (Colorado Federal Savings Bank)0.40% High Yield Savings - Account review
Discover Bank0.40%Online Savings - Account review
Sallie Mae Bank0.40%Money Market Account - Account review
TIAA Bank0.40%Yield Pledge Money Market - Account review
Barclays0.40%Online Savings - Account review
FNBO Direct0.40%Online Savings
Capital One0.40%360 Performance Savings - Account review
SaveBetter.com0.40% ($1 min) 3-month No Penalty CD (deposits held by Continental Bank)- Account review
Bank5 Connect0.40% ($100 min)High Interest Savings - Account review
Nationwide by Axos Bank0.40% ($100 opening)My Savings w/o checking
Bethpage Federal Credit Union0.40% ($500 min)Money Market
Amboy Direct0.40% ($3k min/$100k max)Personal eSavings - Account review
WauBank0.40% ($5k min) High-Yield Savings (only available in AZ, CT, FL, MA, RI, TN, VA) - Account review
Citizens Access0.40% ($5k min)Online Savings Account - Account review
PurePoint Financial0.40 ($10k min)Online Savings - Account review
CIT Bank0.40% ($25k min)Savings Builder - Account review
Bellco Credit Union0.40% ($50k) 0.25% ($10k) 0.10% (up to $10k)Premier Money Market Account
My eBanc0.40% ($100k), 0.35% ($10k)11-month Online Flex Time Deposit - Account review
Quontic Bank0.40% ($150k), 0.35% ($5k), 0.30% (up to $5k)Personal Money Market - Account review
DollarSavingsDirect0.35%Dollar Savings Account - Account review
Quorum Federal Credit Union0.35%HighQ Savings Account
Sallie Mae Bank0.35%High Yield Savings - Account review
SaveBetter.com0.35% ($1 min) High Yield Savings Account (deposits held by Continental Bank) - Account review
ableBanking0.35% ($250 min)Money Market Savings - Account review
Marcus by Goldman Sachs0.35% ($500 min)11-month No Penalty CD - Account review
Northpointe Bank0.35% ($5k+), 0.30% ($2m+), 0.25% ($100) Ultimate Savings - Account review
American Heritage Credit Union0.35% ($10k min)High Yield Savings
Discover Bank0.35% ($100k min), 0.30% ($2.5k) Money Market - Account review
Latino Community Credit Union0.30% ($500 min)Money Market - Account review
SaveBetter.com0.30% ($1 min) High Yield Savings Account (deposits held by Central Bank of Kansas City) - Account review
SaveBetter.com0.30% ($1 min) 9-month No Penalty CD (deposits held by Central Bank of Kansas City)- Account review
State Bank of India (IL)0.30% ($5k min) Money Market
MySavingsDirect0.25%MySavings Account - Account review
BankUnitedDirect0.25%Online Money Market - Account review
Marcus by Goldman Sachs0.25% ($500)13-month No Penalty CD - Account review
Northfield Bank0.20% ($225k max) Online Platinum Savings - Account review
State Bank of India (IL)0.20% ($500 min) Savings
Varo0.20% (3.00% up to $5k w/chk requirements)Varo Savings - Account review
EBSB Direct0.19% ($10k+), 0.10% ($10+), 0.10% ($2m+)Money Market Special 3 - Account review
HSBC Direct0.15%HSBC Direct Savings
Citizens Access0.05% ($5k)11-month Liquid CD - Account review

Reverse Tier Savings/Money Market Accounts/Checking:

Porte3.00% (up to $15k), 0.50% ($15k+)Savings Account, Checking with one-time direct deposit required (deposits held by a partner bank) (*NTS) - Account review
Patelco Credit Union2.00% (up to $2k), 1.00% ($2k-$5k), 0.40% ($5k-$10k), 0.30% ($10k-$50k), 0.20% ($50k-$100k), 0.15% ($100k-$100m)Money Market Select Account - Account review
Affinity Plus Federal Credit Union1.00% (up to $25k), 0.15% ($25k+)Superior Money Market (min $500 direct deposit into any account)
Smarty Pig0.70% (up to $10k), 0.45% ($10k+)SmartyPig Savings - Account review
All America Bank0.50% (up to $50k), 0.25% ($50k+)Mega Money Market Account) - Account review
Redneck Bank0.50% (up to $50k), 0.25% ($50k+)Mega Money Market Account
La Capitol Federal Credit Union4.25% (up to $3k), 2.00% ($3k-10k), 0.10% ($10k+)Choice Checking

Reward Checking Accounts:

  • Noteworthy Accounts Available Nationwide:
Consumers Credit Union4.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+) Rewards Checking Tier A- debit card and $1k credit card requirements (Changes effective May 2020)
Evansville Teachers Federal Credit Union3.30% (up to $20k), 0.00% ($20k+)Vertical Checking - Account review
Consumers Credit Union3.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)Rewards Checking Tier B- debit card and $500 credit card requirements (Changes effective May 2020)
Market USA Federal Credit Union3.01% (up to $15k), 0.05% ($15k+)VIP Checking Platinum Tier - Account review
Sullivan Bank3.00% (up to $10k), 0.30% ($10k+) (2 accounts per SS#)Kasasa Cash - Account review
ECCU3.00% (up to $10k), 0.25% ($10k+) (Cap fell from $35k to $10k on Sept 1st)Free Kasasa Cash Checking - Account review
Lake Michigan Credit Union3.00% (up to $15k), 0.00% ($15k+)Max Checking
INOVA Federal Credit Union3.00% (up to $15k), 0.07% ($15k+)Shield Checking - Account review
Western Vista Federal Credit Union2.53% (up to $15k), 0.01% ($15k+)Panorama Checking - Account review
Cap Ed Federal Credit Union2.50% (up to $10k), 0.20% ($10k+)High Yield Checking
Great Lakes Credit Union2.50% (up to $10k), 0.05% ($10k+)Free Checking
Campus Federal2.31% (up to $10k), 0.05% ($10k+)Lagniappe Checking
Bellco Credit Union2.25% (up to $25k), 0.25% ($25k+)Boost Interest Checking - Account review
Presidential Bank2.25% (up to $25k), 0.65% ($25k+)Advantage Checking - Account review
Garden Savings Federal Credit Union2.25% (up to $15k), 0.15% ($15k+)Platinum Checking
Consumers Credit Union2.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)Rewards Checking Tier C - debit card with NO credit card requirements (Changes effective May 2020)
Union Bank2.07% (blended APY up to $25k), 0.03% ($25k+)1-2-3 Rewards Checking Account review
TruStone Financial Credit Union2.02% (up to $20k), 0.10% ($20k+)TruRate Checking - Account review
Hiway Federal Credit Union2.02% ($1k-$25k), 0.01% ($25k+)Hi Yield Checking - Account review
Elements Financial2.00% (up to $20k), 0.10% ($20k+)High Interest Checking - Account review
Signature Federal Credit Union2.00% (up to $20k), 0.10% ($20k+)High-Yield Checking
Ideal Credit Union2.00% (up to $20k), 0.05% ($20k+)High Yield Checking - Account review
First State Bank (OH)2.00% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review
Southwest National Bank2.00% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review
Wings Financial Credit Union1.76% (up to $25k), 0.05% ($25k+)High Yield Checking - Account review
Connexus Credit Union1.75% (up to $25k), 0.25% ($25k+)Xtraordinary Checking
Partner Colorado Credit Union1.75% (up to $10k), 0.25% ($10k-$25k), 0.05% ($25k+)High Interest Checking
Finex1.50% (up to $25k), 0.10% ($25k+)Axcess Rewards Checking, Premier Account (formerly First New England Federal Credit Union)
One American Bank1.50% (up to $10k), 0.25% ($10k+)Kasasa Cash - Account review
Industrial Bank1.47% (up to $15k), 0.20% ($15k+)Kasasa Cash
Axos Bank1.25% (up to $150k), 0.00% ($150k+)Rewards Checking
United Educators Credit Union1.25% (up to $10k), 0.25% ($10k+)High Yield Checking
BankFirst1.25% (up to $10k), 0.15% ($10k+)Kasasa Cash
Heritage Bank1.02% (up to $25k), 0.19% ($25k+)eCentive Account
Quontic Bank1.01% (up to $1m)High Interest Checking - Account review
First Flight Federal Credit Union1.01% (up to $10k)High Interest Checking
Bay State Savings Bank1.00% (up to $20k), 0.25% ($20k+)Kasasa Cash - Account review
Northwest Federal Credit Union1.00% (up to $25k), 0.25% ($25k+)Kasasa Cash - Account review
Blue Federal Credit Union1.00% (up to $15k), 0.10% ($15k+)Extreme Checking (up to 3.00% w/account relationships) - Account review
Hanscom Federal Credit Union1.00% (up to $15k), 0.10% ($15k+)Kasasa Cash Checking - Account review
Orion Federal Credit Union1.00% (up to $10k), 0.25% ($10k-$100k), 0.05% ($100k-$250k), 0.01% ($250k+)Premium Checking - Account review
First Tech Federal Credit Union1.00% (up to $10k), 0.10% ($10k+)Dividend Rewards Checking
First Security Bank & Trust0.80% (up to $15k), 0.10% ($15k+)Kasasa Cash - Account review
All America Bank0.70% (up to $10k), 0.25% ($10k+)Ultimate Rewards Checking
Redneck Bank0.70% (up to $10k), 0.25% ($10k+)Redneck Rewards Checking
MainStreet Bank0.25% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review

*New to Summary as of April 20, 2021

Certificates of Deposit:

Bank Account Alternatives - May Not Be FDIC Insured

GM Financial Right Notes1.50% ($500+)
Aspiration1.00% ($10k max) Save Account Cash Management Account
Ford Interest Advantage0.65% ($50k+), 0.50% ($15k+), 0.45% (less than $15k)Ford Interest Advantage review
Duke Energy PremierNotes065% ($50k+), 0.50% ($10k+), 0.45% (less than $10k)Duke Energy PremierNotes review
SoFi0.25% SoFi Money Cash Management Account
Wealthfront0.10% Cash Account Cash Management Account
Vanguard Federal Money Market Fund0.01% 7-day yield
Vanguard Municipal Money Market Fund0.01% 7-day yield
Fidelity Municipal Money Market Fund0.01% 7-day yield
Fidelity Money Market Fund0.01% 7-day yield

Accounts Removed, No Longer Available Nationwide

CFBank0.70% ($20k min deposit) Platinum Money Market Promo, 90 day rate guarantee - Account review
Bank of Hope0.40% ($1k min)Money Market Account (Not available in AL, CA, IL, NJ, NY, TX, VA, WA)

Related Pages: savings accounts, money market accounts, checking accounts, reward checking accounts, 1-year CD rates, nationwide deals, Internet banks
  |     |   Comment #1
one of the credit unions that i've done business with in the past is now pitching short term (up to 5 years) fixed annuities as alternatives to low rate CDs. offering up to 2.7% for new money or a penalty-free conversion from existing CD funds. wondering if others are seeing a shift in focus by financial institutions toward these or other "substitute" investment products in this low savings rate environment
  |     |   Comment #2
How exactly does a 5 year annuity work in this case, and how much of that 2.7% is merely return of capital?
  |     |   Comment #3
gregk -- the product described in Comment #1 sounds like a Multi-Year Guaranteed Annuity (MYGA). If so, none of the 2.7% represents a return of capital.
  |     |   Comment #4
Annuities appear to be the devil's workshop, or is it it takes a devil of a time to figure them out. Nevertheless, have not been able to get myself to buy one yet.
  |     |   Comment #5
Don’t lose sight of the role of qualified SPIA (single premium immediate annuity) for purposes of qualifying for Medicaid/Medi-Cal for nursing home care where “excess” assets are otherwise an issue

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