What were savings interest rates in 2016?

Top 10 Best Savings Account Rates

  1. Synchrony Bank. Average APY: 1.036%
  2. Barclays Bank. Average APY: 1%
  3. Ally Bank. Average APY: 0.992%
  4. CIT Bank. Average APY: 0.99%
  5. Discover Bank. Average APY: 0.926%
  6. American Express National Bank. Average APY: 0.897%
  7. Sallie Mae Bank. Average APY: 0.80%
  8. FNBO Direct. Average APY: 0.75%

What was the interest rate on a savings account in 2010?

Savings Account Rate Trends To cover those home loans they needed cash. Reluctant to lend their excess reserves, they offered higher interest rates on savings accounts to increase their reserves. Savings account interest rates have declined since 2010 when the national savings account interest rate was 0.19.

What year was the highest interest rates?

Interest rates reached their highest point in modern history in 1981 when the annual average was 16.63%, according to the Freddie Mac data.

What were savings interest rates in 2006?

Money Market Interest Rates and Mortgage Rates, 2003–2006

Type 2003 2006
Federal funds, effective rate 1.13% 4.97%
Prime rate charged by banks 4.12 7.96
Discount rate 1 2.12 5.96
Eurodollar deposits, 3-month 1.14 5.19

What were savings account interest rates in 2018?

Ally Bank. 1.45% $0. Bank of America. 0.01% $0. Barclays. 1.00%-1.05% $0. Capital One. 0.75%

  • Radius. 0.05% $50. Regions. 0.01% $0. SunTrust. 0.01% $0. Synchrony. 1.05%
  • Chase Bank. 0.08% $1,000,000. Citizens Bank. 0.05% $25,000. 0.07% $250,000. Fi h Third Bank. 0.02%
  • Chase Bank. 0.03% $0. 0.08% $250,000. Citibank. 0.04% $10,000. 0.08% $500,000.
  • What was the CD rate in 2016?

    One Year CD: 1.25% APY Even with a $100,000 deposit, the best available national rate was only 1.26%.

    What is the average interest rate for a high-yield savings account?

    So if the national average is 0.05%, a high-yield savings account may offer rates around 1%. For comparison, interest rates for traditional savings accounts usually match the national average.

    What are the benefits of opening a high-interest savings account?

    Opening a high-interest savings account can help you take advantage of getting the highest return on your money even when the market rates shift. They’re also a good option if you’re looking to earn more money without losing easy access to your savings in case of an emergency.

    How do I find the best high-interest savings accounts?

    Comparing the best high-interest savings accounts. Some banks offer tiered interest rates. To earn the highest yield, you may have to keep a large amount of money in your account. For example, Customers Bank offers a high yield, but you have to deposit at least $25,000 to take advantage of it.

    What is the historical interest rate for savings accounts?

    Historical savings account interest rates Date Interest rate July 2014 0.06% January 2015 0.06% July 2015 0.06% January 2016 0.06%