MoneyRates.com releases America’s Best Rates for first quarter 2011
Category: Bank Deals, Money Market Rates, News and Notes, Savings Account Rates- fhuff- 11:15 am/ April 20, 2011With U.S. savings rates currently averaging just 0.15 percent it’s important to shop around for the best deals from banks that consistenly offer competitive rates. To find the banks with the best interest rates MoneyRates.com has done an analysis of what was offered for the first quarter of 2011 in its America’s Best Rates feature.
MoneyRates.com found 7 banks that had savings rates that were above 1 percent on average during the first quarter. American Express topped the list with an average savings rate of 1.269 percent. Discover Bank came in second with 1.224 percent, followed by Capital One Bank with 1.221 percent.
Banks that made the list consistently have more competitive rates. But overall they all saw savings account rates slip in the quarter, reflecting a national trend. Eight of the ten banks listed for the first quarter were also on the list in the previous period.
The analysis also found three money market rates that averaged over 1 percent during the quarter. OneWest had the highest money money market rate at 1.100 percent, followed by Discover Bank (1.079 percent) and Ally Bank (1.070 percent ).
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- 30-year Fixed Mortgage 3.57 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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