Deposit Diary Daily #119
Best Nationally Available Savings/Money Market Accounts, 20 September 2024
Fed Rate Drop Aftermath
Following the Federal Reserve’s half-point rate cut on Wednesday, 30% of the liquid accounts in this summary experienced rate decreases, ranging from 4 bps to 57 bps.
FYI - 60% of the savings and Money Market accounts in the Raisin product line had rate drops.
Recent Removals/Rate Changes
REMOVED (rate too low)
Citizens State Bank (Raisin) • High Yield Savings • 4.35% (↓60 bps)
Valley Direct • Online Savings • 4.25% (↓50 bps)
RATE DECREASES
Vio Bank • Cornerstone Money Market • 5.20% (↓10 bps)
CFG Bank • High Yield Money Market Account • 5.19% (↓4 bps)
UFB Direct • UFB Portfolio Money Market • 5.15% (↓32 bps)
UFB Direct • UFB Portfolio Savings • 5.15% (↓32 bps)
Bread Savings • High-Yield Savings • 5.10% (↓5 bps)
Jenius Bank • Jenius Savings Account • 5.05% (↓20 bps)
Republic Bank of Chicago • Digital Money Market • 5.01% (↓20 bps)
Mission Valley Bank (Raisin) • Money Market Deposit • 5.00% (↓15 bps)
FVCbank (Raisin) • High Yield Savings • 4.96% (↓25 bps)
Western Alliance Bank (Raisin) • High Yield Savings • 4.95% (↓25 bps)
Hanover Bank (Raisin) • Money Market Deposit • 4.95% (↓26 bps)
First Internet Bank • Money Market Savings • 4.95% (↓53 bps)
AVB Bank (Raisin) • High Yield Savings • 4.92% (↓26 bps)
SkyOne Credit Union (Raisin) • Money Market Deposit • 4.87% (↓31 bps)
Brilliant Bank • Surge Money Market Account • 4.85% (↓50 bps)
Credit One Bank, N.A. • Jumbo High Yield Savings • 4.85% (↓10 bps)
Paprika Capital Bank (Raisin) • High Yield Savings • 4.81% (↓37 bps)
Generations Bank (Raisin) • Money Market Deposit • 4.81% (↓37 bps)
American First Credit Union (Raisin) • Money Market Deposit • 4.76% (↓42 bps)
Virtual Bank • eMoney Market Special • 4.75% (↓50 bps)
Merchants Bank of Indiana • Money Market Account • 4.75% (↓25 bps)
Evergreen Bank Group • High-Yield Online Savings • 4.75% (↓50 bps)
Climate First Bank • Choice Personal Money Market • 4.72% (↓52 bps)
Dayspring Bank (Raisin) • Money Market Deposit • 4.71% (↓42 bps)
Dayspring Bank (Raisin) • High Yield Savings • 4.71% (↓42 bps)
United Republic Bank (Raisin) • Money Market Deposit • 4.70% (↓48 bps)
DR bank (Raisin) • High Yield Savings • 4.65% (↓50 bps)
CloudBank 24/7 (Raisin) • High Yield Savings • 4.70% (↓48 bps)
First State Bank (Raisin) • Money Market Deposit • 4.60% (↓50 bps)
CFBank (Raisin) • High Yield Savings • 4.60% (↓47 bps)
Grand Bank (Raisin) • Money Market Deposit • 4.57% (↓58 bps)
The State Exchange Bank (Raisin) • High Yield Savings • 4.55% (↓50 bps)
Harborstone Credit Union (Raisin) • Money Market Deposit • 4.55% (↓50 bps)
Rising Bank • High Yield Savings • 4.50% (↓25 bps)
Current Top Rates
Listed below are the 30 highest-rate nationally available savings accounts and Money Market accounts from banks and credit unions as of September 20, 2024.
The links go to either the product’s landing page or the financial institution’s rate page.
Pibank • Pibank Savings • 5.50% (no min or min opening deposit) (no rate guarantee)
Poppy Bank • Poppy Premier Online Savings • 5.50% ($1k min) (no rate guarantee)
Veritex Community Bank • Max Savings • 5.38% (no min or min opening deposit)
Fieldpoint Private • Max Savings • 5.37% (no min or min opening deposit)
Peak Bank • Envision High-Yield Savings • 5.33% ($0.01-$10m) (no min opening deposit)
Customers Bank • Max Savings • 5.31% (↓8 bps) (no min or min opening deposit)
Western Alliance Bank • High-Yield Savings Premier • 5.31% ($0.01 min), ($500 min opening deposit)
BrioDirect • Max Savings • 5.30% (no min or min opening deposit)
Forbright Bank • Growth Savings • 5.30% (no min or min opening deposit)
BrioDirect • High-Yield Savings • 5.30% ($25 min) ($5k min opening deposit)
Ivy Bank • High-Yield Savings • 5.30% ($2.5k - $1m), 0.05% ($10), ($2.5k min opening deposit) • rate guaranteed through 9/30/2024 for existing accounts
LendingClub • LevelUp Savings • 5.30% (no min or min opening deposit) • requires minimum deposit(s) of $250 each month
TotalDirectBank • Direct Money Market Deposit Account • 5.26% ($2.5k min), ($25k min opening deposit)
Newtek Bank • Personal High Yield Savings • 5.25% (no min or min opening deposit)
My Banking Direct • High Yield Savings • 5.25% ($1 min)
Banesco USA • Money Market Promo • 5.25% ($300 min), ($100 min opening deposit)
TIMBR • TIMBR High Yield Savings • 5.25% (no min), ($1k min opening deposit)
SBT (State Bank of Texas) • Jumbo Money Market • 5.22% ($100k min, new money only)
Quontic Bank • Max Savings • 5.20% (no min or min opening deposit)
Vio Bank • Cornerstone Money Market • 5.20% (↓10 bps) ($100 min opening deposit)
CFG Bank • High Yield Money Market Account • 5.19% (↓4 bps) ($1k min), ($1k min opening deposit)
BankProv • Max Savings • 5.16% (no min or min opening deposit)
UFB Direct • UFB Portfolio Money Market • 5.15% (↓32 bps) (no min)
UFB Direct • UFB Portfolio Savings • 5.15% (↓32 bps) (no min)
RBMAX • Max Interest Savings • 5.15% ($250k max) ($10 min opening deposit)
Uncle Credit Union (Raisin) • Money Market Deposit Account • 5.13% ($1 min)
Bask Bank • Bask Interest Savings Account • 5.10%
BMO Alto • Online Savings Account • 5.10% (no min)
Bread Savings • High-Yield Savings • 5.10% (↓5 bps) (up to $1m) ($100 min opening)
Bank 5 Connect • Jumbo Savings • 5.10% ($25k min) ($25k min opening deposit)
Spreadsheet
The attached spreadsheet lists the 113 current best rates offered on nationally available savings accounts and Money Market accounts as of this writing.
