A few months ago, we reported on savings account rates that had lowered considerably - now we've found that they've lowered their rates even further. Since many banks offer variable savings account rates, it's a good idea to check your rate to see if it has dropped. You can also check other bank rates to see if theirs are higher than yours. You never know, you may be able to increase your returns by switching banks.
Here are some banks that have continued to drop their savings account rates:
- Amegy Bank MMA - now 1.20% $100K+; was 1.50% $1K+
- BofA Savings - now 1.06% $50K; was 1.40% $10K-$50K
- iGObanking Savings - now 1.56%; was 1.91%
- Intervest MMA - now 1.65% $2.5K+; was 1.72%
- Newtown Savings - now 1.25%; was 1.80%
- Everbank - now 2.51% 3-month introductory rate; was 3.01%
- Zions Bank MMA - now 1.40%; was 1.87%
- ADB Bank Direct MMA - now 1.60%; was 2.05%
- AIG Bank MMA - now 1.16% $2.5K; was 1.96% $50K-$100K
- Ally Bank Savings - now 1.80%; was 2.00%
- EBSB Direct Savings - now 1.00% $50K; was 2.02%
- OneWest - now 1.75% $10K+; was 2.00% $100K+
- ProvidentNJ Direct Savings 3mo promo - now 2.00%; was 2.75%
- SmartyPig Savings - now 2.01%; was 2.75%
Virtual Bank Savings had lowered its savings account rate to 0.80% APY and has since increased to 1.01%. Corus Bank was listed on our previous list and has since been seized by federal regulators.
Are you satisfied with your savings account interest rates? Please share your thoughts with the Go Banking Rates community.