Best Banks With Consistently High Interest Rates – 2013 Edition

Will the rate on your high-yield savings account stay high? It’s always hard to tell. Some do, and some banks seem to just give up. The NY Times Bucks blog shared a list of the top 10 banks offering high savings accounts rates over time for the 1st quarter of 2013 as compiled by MoneyRates, of which nine banks that have made the list for three quarters in a row. I’ve looked up their current APYs as well.

Bank Name
Historical Rate
(for ranking purposes)
Current Savings Account Rate (APY)
Discover Bank
0.85% APY
0.85% APY
0.75% APY
0.85% APY


  1. I never see Sallie Mae on any list like this one, even though their rates would easily put them on this list. Are they not considered a “bank” b/c of their connection to student loans and their former GSE status? Their rates are consistently high and I have had good luck with them. I split my online savings between Ally and Sallie Mae.

  2. Survivorship bias is not the problem with these lists. The real problem is that the best banks are only offering 1-1.5%. Back in 2005, I was getting over 6% at many credit unions and internet banks. It’s worth the hassle of yield chasing at different institutions when you can get multiple percent-arbitrage. Not so much for tenths of a percent difference. Better off finding “alternative” investments that provide real asset diversification.

  3. I don’t know why Smarty Pig isn’t on this list either. Their current rate is 1.10% which puts many of those to shame.

  4. it’s good to know which banks have a consistent track record of high interest rates (as opposed to initial promotional rate).

  5. I think the key here is that these are high-yield savings accounts, this is not such a good mesure as most of the time the checking account gives you a better yeild.

    I have been with everbank since 2002 and they have very comptative checking rate and excelent customer service. There current rate is .85 which is up these with these guys.

    And my rewards checking is getting 3.5 % at Arizona Bank And Trust.

    A matter of face ever bank even garauntees that there rate is in the top
    Our pledge for a higher yield—since 2004
    With a Yield Pledge® Checking Account, your rate will always be in the top 5% of competitive accounts offered by leading banks

  6. @Jacob, how many hoops do you have to jump through to qualify for those rates, particularly with the checking accts? An acct with a good rate that’s achievable without much hassle is ideal.

  7. I noticed Well Fargo’s High Yield continues to plummet. It was .5% a year ago, and now it’s like .25%. I believe Chase is somewhere around .3 down from .35

    I wonder why the major banks don’t even attempt to match the internet banks.

    The only way to try to match at the major banks is to lock up money for a long length of time, which I’m reluctant to do.

  8. What about Smartypig and Evantagebank?

  9. @Jacob, do you have to jump through a lot of hoops to achieve the higher rates, particularly on checking accts? The ideal is an acct with good rates and a minimal amount of hassles.

  10. This list also omits credit unions, like Alliant. My Alliant savings account has an APY of 1.15 and my HSA has an APY of 2.00%. The savings APY would tie it with Discover at the top of the list.

    I agree with K – chasing yields when they are so low is not worth the hassle.

  11. Debbie M says:

    I’m with K. When 1% is considered high yield (while inflation is positive), that’s crazy. Heck, even the current I-bonds, with their 0% fixed rate (so you’re earning inflation only), look good compared to these.

    Almost makes me wish I had more debt to pay off.

  12. Why wouldn’t Danversbank be on the list? I’m getting 2.9% to jump through some easy hoops.

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