Usually, banks offer attractive rates on savings accounts only up to a certain amount (usually $10,000). This is because banks try to attract customers by taking a small loss on the interest paid above the market rates. However, if you deposit too much money (say $100,000), the bank would lose too much.
Royal Banks of Missouri, by contrast, offers a very good rate for savings account only when you deposit more than $50,000. The APY of 1.30% such an account is comparable to many banks’ 1-year CD rate – of course, with a savings account you can take your money out at any time.
If your deposit falls below $50,000, you still get interest, but your rate drops to 0.25%.
Top US Banks, CD Rates and Savings Account Rates
Other Terms and Conditions may apply. Additionally, rates may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.
