The difference with saving account rates is their ability to go down at any time, they are variable based on the bank. Most CD rates are locked at the specific interest rate for the specified time and cannot go down within that time frame.

With a savings account your money is never locked up. You have no early withdrawal penalties and can take your money out at any time. You can always move your money to a more lucrative investment if one comes around, but for the time being it’s a good time to take advantage of these top savings accounts.

Here is a list of the highest Savings Accounts Nationally:

• 1.50% APY with a minimum deposit of $1 from Readysaver.com. Southern Community Bank and Trust operates the website.
• Sallie Mae Bank is offering 1.40% APY savings account with no minimum deposit. This is an online bank owned by the leader in student loans.
• NewDominon Bank is also offering 1.40% APY savings account with a minimum deposit of $1,500. NewDominon Bank is located in Charlotte and Mooresville, NC. They have a $10 monthly service fee for any savings account under $1,000.
• Capital One Bank is offering 1.35% APY with a minimum deposit of $1,000. They have 700 branches in New York, New Jersey, Connecticut, Louisiana and Texas. They have an InterestPlus Online Savings that also pays a 10% bonus on ‘interest earned’ for qualifying accounts.
• Discover Bank is also offering 1.35% APY with a minimum deposit of $500.

Capture these returns or learn more about savings rates and CD rates from our database of CDs.