The available rate list does not establish which savings accounts paid the highest APYs on March 27, 2024. Bankrate’s named offers are dated March 6, while its March 27 press release reports a 4.74% average for a selected group of savings and money market accounts as of March 20. Those dates and populations are not interchangeable.
What the dated rate figures show
Bankrate’s roundup, updated March 4, listed these savings-account APYs as of March 6, 2024. The page cautioned that rates could change and might vary by region.
| Institution | APY in Bankrate’s March 6 snapshot |
|---|---|
| BrioDirect | 5.35% |
| TAB Bank | 5.27% |
| UFB Direct | 5.25% |
| Popular Direct | 5.20% |
| EverBank | 5.15% |
| Bread Savings | 5.15% |
| Bask Bank | 5.10% |
| CIT Bank | 5.05% |
| Salem Five Direct | 5.01% |
| CIBC Bank USA | 5.01% |
These are historical figures, not verified March 27 offers. Bankrate put the national average savings APY at 0.57% on March 6, far below the selected offers in its roundup. The average and the named high-yield accounts describe different parts of the market. Bankrate’s roundup
How to interpret Bankrate’s March 27 release
In a press release published March 27, Bankrate reported that 67% of surveyed savers earned less than 4%, down from 79% in the prior year’s survey. Separately, it said its 50 highest-yielding savings and money market accounts averaged 4.74% APY as of March 20. That 4.74% is an average for a selected top-account group, including money market accounts; it is not a March 27 rate, a savings-only average, or the national average. Bankrate’s press releases
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Why a top rate differs from a national average
A roundup of leading offers selects accounts with comparatively high yields. A national rate benchmark reflects a broader set of deposit accounts and uses a defined methodology. The FDIC’s national-rate methodology includes product tiers, including a $2,500 tier for savings accounts; the benchmark therefore should not be read as a ranking of the best offers available. FDIC national rates
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare a savings account offer
When reviewing any offer, compare its APY and the date it was checked alongside the account terms that determine whether the rate works for you.
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- Rate date and availability: Confirm the current APY directly with the institution. Rates can change, and Bankrate noted that some offers may vary by region.
- Eligibility and balance rules: Check who can open the account, any opening deposit or minimum balance, and whether the advertised APY applies to your balance.
- Fees: Review monthly maintenance and other charges that could reduce the return.
- Access: Understand how deposits, withdrawals, and transfers work, including any limits or delays that matter for your needs.
- Deposit insurance: Verify the institution and how your deposits are covered. Bankrate said the accounts in its roundup were at FDIC-insured banks or NCUA-insured credit unions; check the specific institution and insurance arrangement for an account you are considering.
For an explanation of the insurance framework, consult the FDIC’s deposit-insurance information and the NCUA’s share-insurance information.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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