Deposit Diary Daily #288

Best Nationally Available Savings/Money Market Accounts (7 March 2025)

What’s Happening

Neighbors Bank

It’s been a few years since Neighbors Bank was accepting new applications for its savings account. Apparently the wait is over and new Neighbors Savings Accounts are being opened.

• 4.75% APY on balances less than or equal to $250,000. 0.05% APY for balances over $250,000.

• Limited to one Neighbors Savings or Online Savings account per primary owner.

• Not available in Delaware.

FYI - Neighbors Bank first offered a nationally available savings account (1.75% APY) in May 2020, and within a matter of weeks, applications were no longer being accepted.

FVCbank

This week’s Summary also includes a new product from a new online bank: the Advantage Direct Savings Account (4.55%) offered by FVCbank. Established in 2007 as First Virginia Community Bank, FVCbank is headquartered in Fairfax, Virginia. FVCbank being offering nationally available accounts on Raisin in April 2023, but severed the relationship at the beginning of 2025.

FVCbank has a decent FAQ page for the Advantage Direct Saving Account:

• There are no service or monthly maintenance fees associated with the Advantage Direct Savings account.

• The minimum deposit required in order to open a Advantage Direct Savings account is $500.

• Your Advantage Direct Savings must have a balance of at least $.01 for it to remain open.

• Funds received by ACH transfer initiated from the designated linked account to your account will generally be available five (5) business days after you initiate the ACH transfer.

• Transactions may take five (5) business days to complete.

• [Funding a Advantage Direct Saving Account can be done through] a checking or savings account maintained at a U.S. financial institution that is either owned by you individually or jointly with another person as long as you maintain control over such account.

• Only one linked account may be used to make deposits to and receive withdrawals from your Advantage Direct Savings account.

• The Advantage Direct Savings account is a single ownership account [no joint accounts]; however, you can designate one beneficiary [a trust cannot be a beneficiary].

Current Top Rates

Listed below are the 20 highest-rate nationally available savings accounts and Money Market accounts as of March 7, 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)

Neighbors Bank • Neighbors Savings Account • 4.75% (up to $250k) (no min opening deposit)

AlumniFi Credit Union • AlumniFi Savings • 4.75% ($100k+), 4.50% ($25k), 4.25% (no min)

Modern Bank • High Yield Money Market • 4.75% ($100k min, new money only)

SBT (State Bank of Texas) • Jumbo Money Market • 4.65% ($100k min, new money only)

Pibank • Pibank Savings • 4.60% (no min or min opening deposit) (no rate guarantee)

OMB Bank • High Interest Online Savings • 4.56% ($5k min opening deposit)

FitnessBank • Fitness Savings Account • 4.55% ($250k max), ($100 min opening deposit)

FVCbank • Advantage Direct Savings Account • 4.55% ($250k max), ($100 min opening deposit) • New accounts only

TIMBR • TIMBR High Yield Savings • 4.55% (no min) ($1k min opening deposit)

BrioDirect • High-Yield Savings • 4.55% ($5k min opening deposit)

Peak Bank • Envision High-Yield Savings • 4.54% (▲19 bps) (up to $10m), 2.02% ($10m+) (no min opening deposit)

TotalDirectBank • Direct Money Market Deposit Account • 4.51% ($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)

Brilliant Bank • Surge Money Market Account • 4.50% ($1k min opening deposit)

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 CHANGES

Newly Added

• Neighbors Bank • Neighbors Savings Account • 4.75% (up to $250k)

• FVCbank • Advantage Direct Savings Account • 4.55%

Rate Increases

• Peak Bank • Envision High-Yield Savings • 4.54% (▲19 bps)

• Credit One Bank, N.A. • Jumbo High Yield Savings Account • 4.25% (▲5 bps)

Rate Decreases

• My Banking Direct • High Yield Savings • 4.40% (▼5 bps)

• Openbank • High Yield Savings Account • 4.40% (▼35 bps)

• drbank (Raisin) • High Yield Savings Account • 4.30% (▼3 bps)

• Paprika Capital Bank (Raisin) • High Yield Savings Account • 4.28% (▼2 bps)

• Quontic Bank • Personal Money Market • 4.25% (▼25 bps)

• Republic Bank of Chicago • Digital Money Market • 4.25% (▼5 bps)

• Popular Direct • Popular Direct Select Savings • 4.20% (▼10 bps)

• First Community Bank (Raisin) • High Yield Savings Account • 4.15% (▼8 bps)

• Northern Bank Direct • Money Market Premier • 4.00% (▼25 bps)

Removal, No Longer Offered

• Citizens State Bank (Raisin) • High Yield Savings Account • 4.35%

Removal, Uncompetitive Rate

• Sallie Mae Bank • High Yield Savings • 3.90%

• Sallie Mae Bank • Money Market Account • 3.90%

• BMO Alto • Online Savings Account •3.70% (▼30 bps)

SPREADSHEET

The attached spreadsheet lists the 100 current best rates offered on nationally available savings accounts and Money Market accounts as of March 7, 2025.

Dq Liquid Rates 7 March 2025

27.2KB ∙ XLSX file

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