Deposit Diary Daily #266
Best Nationally Available Savings/Money Market Accounts (14 February 2025)
What’s Happening
Rate changes slowed down this week, with only six rate decreases (four on Raisin products) and a single rate increase.
Roger Bank has imposed a new restriction on its Savings account: the 5% APY applies to balances up to $250k, but balances above $250k now earn no interest. This balance limitation applies to both new accounts and accounts opened prior to the implementation of the $250k cap. There is also a limit of one Savings account per Social Security number. If you have a Roger Bank Savings account with a balance of more $250k, you might want to move the excess balance to an interest bearing account.
Current Top Rates
Listed below are the 20 highest-rate nationally available savings accounts and Money Market accounts as of February 14, 2025. The links go to either the product’s landing page or the financial institution’s rate page.
Roger Bank • Savings • 5.00% (no min or min opening deposit, but an active Roger checking account is required)
Evergreen Wealth • High Yield Savings • 5.00% ($25k min)
Patriot Bank • Online Money Market • 4.75% (no min or min opening deposit)
Quontic Bank • Personal Money Market • 4.75% (all balances)
Openbank • High Yield Savings Account • 4.75% (all balances), ($500 min opening deposit)
Modern Bank • High Yield Money Market • 4.75% ($100k min, new money only)
Brilliant Bank • Surge Money Market Account • 4.70% ($1k min opening deposit)
SBT (State Bank of Texas) • Jumbo Money Market • 4.65% (↓10 bps) ($100k min, new money only)
Pibank • Pibank Savings • 4.60% (↓15 bps) (no min or min opening deposit) (no rate guarantee)
OMB Bank • High Interest Online Savings • 4.56% ($5k min opening deposit)
Newtek Bank • Personal High Yield Savings • 4.55% (no min or min opening deposit)
FitnessBank • Fitness Savings Account • 4.55% (↓20 bps) ($250k max), ($100 min opening deposit)
TIMBR • TIMBR High Yield Savings • 4.55% (no min) ($1k min opening deposit)
BrioDirect • High-Yield Savings • 4.55% ($5k min opening deposit)
TotalDirectBank • Direct Money Market Deposit Account • 4.51% (↓16 bps) ($2.5k min), ($25k min opening deposit)
LendingClub • LevelUp Savings • 4.50% (no min or min opening deposit) • requires minimum deposit(s) of $250 each month
Jenius Bank • Jenius Savings Account • 4.50% (no min)
Poppy Bank • Poppy Premier Online Savings • 4.50% ($1k min)
First Foundation Bank • Online Money Market Account • 4.50% ($1k min opening)
First Foundation Bank Online Savings • 4.50% ($1k min opening)
RECENT RATE CHANGES
Rate Increases
Citizens State Bank (Raisin) • High Yield Savings Account • 4.35% (↑35 bps)
Rate Decreases
Generations Bank (Raisin) • Money Market Deposit Account • 4.35% (↓11 bps)
drbank (Raisin) • High Yield Savings Account • 4.33% (↓2 bps)
American First Credit Union (Raisin) • Money Market Deposit Account • 4.30% (↓5 bps)
Colorado Federal Savings Bank • Premier Savings • 4.25% (↓20 bps)
Colorado Federal Savings Bank • High Yield Savings • 4.20% (↓20 bps)
Removal, Rate Decrease
The State Exchange Bank (Raisin) • High Yield Savings Account • 3.80% (↓25 bps)
Removal, Uncompetitive Rate
UNCLE Credit Union (Raisin) • Money Market Deposit Account • 3.99%
SPREADSHEET
The attached spreadsheet lists the 100 current best rates offered on nationally available savings accounts and Money Market accounts as of February 14, 2025.
