As with most bank interest bearing accounts, saving accounts are continuing to see yields fall.  The average bank savings account rate from the top ten highest savings accounts available nationally is currently at 1.59 percent, down two basis points or 2/100 of a percent from the prior week’s average rate of 1.61 percent.

The highest yielding bank savings account remained at 1.80%.  The best bank savings account rate is available at The Palladian Private Bank.  This bank rate leads the next best rate by a full ten basis points.  The next best rate comes from Colorado Federal Savings Bank which has a savings account that yields 1.70%.  Running behind Colorado Fed by five basis points is Bank of Internet which promotes a savings account rate at 1.65%.

The fourth highest bank savings account rate available nationally stands at 1.60%.  This rate can be found with an online savings account at Discover Bank.  Capital One Bank, which recently stepped up the rates on its money market and savings account, and UFB Direct offer savings account rates 1.55%.  Choice Financial follows these offers with a savings account that yields 1.51% for balances in excess of $25,000.00.  The savings account also has an introductory rate of 2.26% that is good for 30 days.

Three banks remain on the list for the top ten best savings account rates and all three banks offer the same savings rate of 1.50%.  Ultima Bank Minnesota, Dollar Savings Direct and American Express Bank promote savings account with interest rates at 1.50%.

For week over week rate changes, two banks reduced their savings rates and their were no bank rate increases.  A regular participant on the list, Shore Bank, dropped their rate after holding one of the top three rates for several months.  The rate drop was low enough to prevent the bank from making this weeks cut off.  The Shore Bank loss made room for Ultima Bank Minnesota to squeeze in the number 10 spot.

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