While most bank rates were lower for the third week of the year, bank savings account rates held steady.  For the week ending January 22, 2010 the top best bank savings account rates available nationally were unchanged.  The average of the highest savings account rates remained at 1.59%.

The highest savings account rate was also unchanged at 1.80%.  The best savings account rate is available at The Palladian Private Bank.  Immediately following The Palladian Private Bank is the savings account of Colorado Federal Savings Bank which has an interest rate of 1.70%.  Five basis points lower is the savings account of Bank of Internet that yields 1.65%. 

The fourth high savings rate comes from Discover Bank.  Discover Bank offers savings account that currently has an interest rate of 1.60%.  Running five basis points behind Discover, two banks share the fifth highest rate available nationally.  Both, UFB Direct and Capital One Bank continue offer online savings account that earn a rate of 1.55%.

Choice Financial Bank follows the duo ion fifth place with a bank savings account that yields 1.51%.  To wrap up the list of the top ten best savings accounts rates, three banks offer savings accounts at 1.50%.  American Express Bank, Dollar Savings Direct and Ultima Bank of Minnesota, all have savings account with rate at 1.50%.

This week’s list of the top ten best bank savings account rates was unchanged from the previous week.  The average rate remained unchanged as did the highest rate available.  Week over week there were no rate change rate changes or new banks added or removed from the list.

In a week when Treasury rates headed lower along with bank CD rates, interest rates remaining in neutral is not necessarily bad news.  Since economic news has remained weak, the outlook for interest rate increases by the Fed and interest rate increases on savings investment vehicles in the near future looks slim.  It is not likely that rates will rise within the first two quarters of 2010 with the slow economy keeping a firm lid on rates.

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