The current national average savings rate/money market rate as reported by Bankrate is at 0.54 percent for account balances of $10,000 or more. The average national savings rate is actually up from last week's average of 0.51 percent.
Account balances of $25,000 more had an average rate of 0.56 percent and account balances of $50,000 had an average rate of 0.65 percent. These rate are only the averages, there are many banks and credit unions offering rates above the national averages.
The highest savings rates on our list right now is from CIT Bank and Union Federal Savings Bank at 1.04 percent with an annual percentage yield (APY) of 1.05 percent. To earn this rate and yield you have to open a CIT Savings Account with a minimum balance of $25,000. Union Federal Savings Bank's minmum is $2,500.
The second best rate on our list is a promotional money market account rate from EverBank. The bank is offering a 6 month promotional money market tours to egypt from united kingdom rate of 1.25% and an ongoing rate of 0.76 percent. This makes the first year APY 1.01 percent.
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