The Top Savings Account Rates for October 2020

Interest rates on savings accounts vary greatly. That is why we check rates daily at more than 5,000 U.S. banks and credit unions ... so that it is easy for you to find the top savings account and help your money grow faster.

The vast majority of Americans have savings accounts at one of the top 4 "big" banks that only pay around 0.01%. Most local hometown banks don't do much better - the FDIC's national average savings account rate is only a bit higher at 0.6%, which is why it's best to shop around.

The top accounts out there offer perks like no minimum balance, ATM access and interest rates that are often 20x the average savings account, and we've rounded them up for you. Here are the top online savings accounts to help you supercharge your savings.

The vast majority of Americans have savings accounts at one of the top 4 "big" banks that only pay around 0.01%. Most local hometown banks don't do much better - the FDIC's national average savings account rate is only a bit higher at 0.6%, which is why it's best to shop around.

The best accounts out there offer perks like no minimum balance, ATM access and interest rates that are often 20x the average savings account, and we've rounded them up for you. here are the best online savings accounts to help you supercharge your savings.

This Week's Top Accounts

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Savings Account Rate History

Average APY (%) Rate Trend over Time

Use the history chart tool on the right to examine the history of rates for savings account, CDs and more.

Bank Health by State

The global financial crisis of 2008 has prompted many to take a second look at the health of their financial institutions. Many banks and credit unions were not as financially healthy as many believed. Have things improved?

The banks and credit unions in some states are riskier than others. Click on the map to the left to see how your state compares.

*How we calculate bank health

The rates and promotions displayed are gathered from various financial institutions and may not reflect all of the products available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate data or to request rates or promotions be included in this chart. We are not affiliated with the financial institutions listed here.

* The APY shown is based on the deposit amount selected. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

** Health Rating: The FDIC and NCUA each maintain a watch list of banks and credit unions they believe are at risk of failing, but they keep these lists secret in order to prevent panic among customers at those institutions, resulting in more failures. They do, however, publish the raw financial numbers for each institution every quarter. It is possible to use different formulas with this data to determine the financial health of banks and credit unions. DepositAccounts uses its own proprietary formula to assess the financial health of all federally insured banks and credit unions in the US.

**The national averages include all institutions (banks and credit unions) in the United States for whom DepositAccounts has collected rate data in that particular product category. DepositAccounts does not do any weighting for these averages.

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