Study: Best Bank Interest Rates on Savings and CD Accounts Revealed by Go Banking Rates


Premier interest rate aggregating website evaluates its database of over 4,000 banks and credit unions in the U.S. and territories of the United States to identify the financial institutions offering the best bank interest rates on savings accounts and certificates of deposit in its 2012 yearend rates study.

(PRWEB) January 03, 2013

As 2013 begins, many people are setting New Year's resolutions to make smart choices for the year that will improve their lives. Many of these resolutions will center around saving more money – leading online personal finance resource, Go Banking Rates, seeks to assist readers in reaching that goal by identifying the U.S. financial institutions offering the best bank interest rates today in its most recent study of deposit account rates offered by local banks and credit unions.

Go Banking Rates performed a study of the interest rates offered by the more than 4,000 banks and credit unions in its interest rate database to determine where the top savings account and certificate of deposit rates in the U.S. can be found. Below are the national averages for interest rates on savings accounts, 6-month CDs, 1-year CDs and 2-year CDs, as well as the top ten financial institutions currently offering the best bank interest rates in each category.

"For consumers whose goal is to save more money in 2013, it's important they maximize deposits by earning competitive interest rates," explains Go Banking Rates managing editor, Casey Bond. She advises, "A higher interest rate means more money with no extra work, so failing to take advantage of high-yield savings options is essentially like throwing money away."

Interest Rates Today: National Averages

According to all of the interest rate information in the Go Banking Rates database, it was determined that the average savings account rate in the U.S. is currently .21% APY.

As for certificate of deposit accounts, the average interest rate on 6-month CDs is presently .32%, while 1-year CD rates average .47% APY, and 2-year CDs fare a bit better with an average rate of .70% APY.

Top 10 Savings Account Rates in U.S.

Of all the financial institutions in the Go Banking Rates database, Twinstar Credit Union is currently offering the highest savings account rate of 1.60% APY. This is followed by the Houston Police Credit Union with a savings account rate of 1.15% APY. Third place is taken by Corps of Engineers Credit Union, which is presently offering members a savings interest rate of 1.26% APY.

Two banks fell into the top 10 savings account rates in the nation: Salem Five Direct, a community bank in Massachusetts offering the fourth-highest rate of 1.25% APY, and Biscayne Bank of Miami, Florida, rounding out the top 10 with 1.00% APY.

The full database of local interest rates collected by Go Banking Rates can be viewed by visiting the site's Interest Rates Table.


Note that the savings and CD rates used in this study are as of November 30, 2012, based on institutions' online published rates, and may have changed since this date. It is advised that before opening an account, depositors verify rates with financial institutions and review all terms and conditions of individual accounts.

Click here to see the full study.

About Go Banking Rates is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. Go Banking Rates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.

Additionally, partners with a number of major media outlets such as Business Insider and US News & World Report to provide compelling and edifying personal finance content, and its expert editors have been featured and quoted on several premier finance websites like Yahoo! Finance, Forbes, The Street, Huffington Post and more. belongs to a network of more than 1500 finance websites, including and These sites receive more than 2 million visits each month.

For questions or comments, please contact Jaime Catmull, Director of Public Relations, at JaimeC(@)GoBankingRates(dot)com, or 310.297.9233 x261.


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