HIGH INTEREST SAVINGS ACCOUNTS

Among our database of banks in Texas, the average savings rate is only .44% APY, but Prestige Community Credit Union blows that number away with a special high interest savings account providing a rate of .75% APY.

Only members of the credit union can open a high interest savings account. The minimum balance to open and earn interest is $100 and the maximum deposit amount is $100,000. You are permitted three free withdrawals per month and you must also hold an Ultra Free Checking account with Prestige Community CU.

Make more by saving more at Gateway Bank. This commercial bank offers excellent savings products for individuals as well as business, like the high interest savings account option that provides a 1.10% APY.

There is no minimum deposit requirement to open the Charter Savings account, but a balance of at least $500 is needed to avoid the monthly service charge and earn the above savings interest rate. You are allowed three withdrawals per statement cycle.

SmartyPig is an online savings account offering one of the most competitive savings account interest rates in the nation. The current offer available is for a high interest savings account rate of 1.75% APY.

The best part of this account is that it’s free. SmartyPig allows you to set savings goals and then provide a high interest account to keep your money in until you need it–all you need is a $25 minimum deposit. This account also enhances your savings with cash boosts that make your money go further and is FDIC-insured up to the maximum amount allowed by law. Accounts are held at BBVA Compass.

If you are dissatisfied with big banks–perhaps the interest rates are low, loans are expensive or you’re just looking for friendlier and more personalized service –a savings and loan association may be perfect for you. S&Ls aren’t the same as banks and don’t always provide the same services, when one does offer the financial product you need, joining could result in huge benefits.

What is a Savings and Loan Association?

Teaching your children about saving money is something you can’t begin too early. If you would like to help the young person in your life get started, Provident Bank offers a special Young Investors savings account just for this purpose. In fact, this high interest savings account provides an interest rate of 2.00% APY.

Only minors are eligible to earn the highest savings account rate. A $5 deposit is all you need to open an account and the account holder will receive a savings passbook to track their progress. Minors 16 and older can have ATM access with parent or guardian permission.

Bay Cities Bank gives customers plenty of options when it comes to saving money. Whether you’re looking for a simple savings account or a high interest savings account for your large deposit, this bank has you covered. Right now, you can earn a savings rate of .90% APY with a Premium Savings account.

The minimum balance required to earn this interest rate is $10,000. The account features a free ATM card, free online banking with bill pay, free eVue online statements and 24-hour telephone banking.

If you can’t seem to find a high interest savings account anywhere, link a checking and savings account at FirstMerit bank and earn higher rates. Customers who link the Reality Savings account to an existing checking account will earn a savings account rate of 1.05% APY.

As long as you have a checking account with FirstMerit Bank, you can open the Reality Savings account with as little as $1. You will earn interest on any balance and you can waive the monthly service charge of $10.00 if you have a FirstMerit checking account with at least two debit or credit transactions in a statement cycle.

If you’ve built up your savings to a sizable balance, you can be eligible to earn higher interest rates with a high interest savings account. The Advantage Savings account from Commonwealth Community Bank, Inc. is one such account offering a savings account interest rate of 1.26% APY.

You can begin earning this savings account rate by depositing at least $10,000. If your balance falls below the minimum, you will incur a service charge of $25. You are also allowed six free withdrawals per quarter and any additional withdrawals result in a fee of $2 each.

It isn’t always easy to find a high interest savings account, but credit unions are a good place to begin looking. For instance, Covenant Credit Union offers members a savings rate of 1.01% APY.

If you’re a member of this credit union, you can obtain the advertised savings account rate with any balance above $25 and are allowed 9 free transactions every month. However, you should note that rates are subject to change without notice.

Savings accounts tend to offer higher interest rates when they are linked to another account. At Telhio Credit Union, linking your checking and savings accounts will allow you to accomplish this. This credit union is currently offering a high interest savings account rate of 1.40% APY when you link your accounts.

To earn the high yield savings account rate, you must maintain a minimum daily balance of $5,000, sign up for e-statements and have 25 or more debit card transactions posted to the share draft checking account per month.