Here Are the 11 Best Bank Account Rates in St. Louis

With interest rates set low by the Federal Reserve, St. Louis residents might be wondering whether local deposit accounts can help increase their savings.

GOBankingRates investigated all CDs, checking, savings and money market accounts in St. Louis, finding that average local rates for checking and money market accounts top national averages.

Account TypeSt. Louis AverageNational Average
CD: 2-Year0.409%0.538%
CD: 1-Year0.257%0.352%
CD: 6-Month0.170%0.223%
Checking0.292%0.220%
Savings0.086%0.118%
Money Market0.237%0.162%

Less favorable were the lower-than-average savings and CD rates in St. Louis. The two-year CD fared the worst, with an average rate nearly 13 basis points below the national average.

Nevertheless, local banks and credit unions are providing residents with better opportunities to save by offering great deposit rates, particularly for checking, money market and two-year CD accounts.

At an impressive 1.75% APY, Eagle Bank & Trust’s Smart Money Checking account is almost eight times higher than similar accounts across the nation.

Related: 8 Best CD Rates Available in St. Louis

11 Best Interest Rates in St. Louis

RankFinancial InstitutionProduct Description – Minimum DepositAPY
1Eagle Bank & TrustSmart Money Checking – $11.75%
2First Community Credit UnionFirst Rate Checking – $11.51%
3PNC BankPremium Money Market Special – $10,0001.01%
4PNC BankPerformance Select Relationship Money Market – $10.80%
5Laclede Family Savings Credit Union2-Year CD – $10,0000.75%
5Century Credit Union2-Year CD with Premier Checking – $2,5000.75%
7Alliance Credit Union2-Year CD – $1,0000.71%
8APEX Financial Credit Union2-Year CD – $5000.70%
8Arsenal Credit Union2-Year CD – $5000.70%
8Health Care Family Credit Union2-Year CD – $1,0000.70%
8St. Louis Community Credit Union2-Year CD – $3000.70%

Survey Methodology

The GOBankingRates study considered savings, checking, CD and money market accounts available at banks and credit unions in St. Louis.

Criteria included promotions, specials and base rates, as well as six-month, one-year and two-year CDs with an assumed $10,000 deposit. Interest rates were pulled between March 26 and April 1, 2014.

GOBankingRates compiled rate information from the GOBankingRates interest rate database, in partnership with Informa Research Services Inc., aggregating bank account and interest rate information from more than 6,000 financial institutions.