The closest supported account-by-account snapshot to March 28, 2024, is dated March 21: it lists PNC at 4.65% APY, Marcus by Goldman Sachs at 4.50%, Citi at 4.45%, and Ally Bank and Capital One at 4.35% each. These are not confirmed March 28 rates or a complete ranking for that day. Bankrate’s separate average for its 50 highest-yielding savings and money-market accounts was 4.74% APY as of March 20. Savings rates vary, so check a bank’s current rate and account terms before opening an account.
What were the best-supported savings rates near March 28, 2024?
The available account-level comparison reports rates as of March 21, 2024. Its authors say they drew the figures from Bankrate and their survey of bank webpages. The snapshot includes:
| Bank or account provider | APY as of March 21, 2024 | Minimum opening deposit |
|---|---|---|
| PNC | 4.65% | $0 |
| Marcus by Goldman Sachs | 4.50% | $0 |
| Citi | 4.45% | $0 |
| Ally Bank | 4.35% | $0 |
| Capital One | 4.35% | $0 |
| TD | 0.02% | $0 |
| JPMorgan Chase | 0.01% | $0 |
| U.S. Bank | 0.01% | $25 |
| Wells Fargo | 0.01% | $25 |
| Bank of America | 0.01% | $100 |
The opening-deposit figures are not the same as any ongoing minimum balance or conditions for earning the listed APY. The snapshot does not establish current fees, geographic eligibility, access rules, or ongoing qualification requirements; verify those details with the bank before applying. Rates are variable, and the March 21 figures should not be treated as current offers.
How should the rates be interpreted?
There is no verified complete leaderboard for March 28 in the available sources. The account comparison is dated March 21, while Bankrate’s market statistic is dated March 20; neither is a confirmed March 28 ranking. Bankrate reported that its 50 highest-yielding savings and money-market accounts averaged 4.74% APY as of March 20. That is an average for a selected group of high-yield accounts, not the APY of a single account or the average across all banks.
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For broader context, the FDIC’s national savings deposit rate was 0.46% as of February 20, 2024, based on its $2,500 product tier. The FDIC also reported a 6.08% national rate cap on that date. These are broad deposit-market measures, not a list of leading offers; the national rate cap is not a consumer account rate. See the FDIC’s National Rates and Rate Caps materials for methodology and rate data.
Why were many savers earning less than the leading rates?
In a survey released March 27, 2024, Bankrate reported that 67% of surveyed savers with short-term savings earned less than 4%, while 22% earned at least 4%. The latter share was 7% the prior year. Bankrate Chief Financial Analyst Greg McBride, CFA, said: “Despite widespread availability of higher returns on federally-insured accounts with little or no minimum deposit requirement, two-thirds of savers are earning less than 4% on their emergency savings,”
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These figures describe the survey, not every U.S. saver. Bankrate commissioned YouGov Plc to survey 3,581 U.S. adults, including 2,418 people with short-term savings. Online fieldwork took place February 20–23, 2024, using a non-probability sample with quotas and a weighting scheme intended to provide nationally representative results. Bankrate also reported that 51% of Americans with savings had an online-bank savings or money-market account, compared with 40% the prior year. Details appear in Bankrate’s March 27, 2024 survey release.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to compare before opening a savings account
A headline APY alone does not determine whether an account suits your needs. Compare the dated rate with the bank’s current terms, including:
Do these 3 things before closing this tab:
1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitches- Minimums: Distinguish the opening deposit from any balance needed to earn the advertised APY.
- Fees and eligibility: Check applicable fees and whether the account is available where you live.
- Access to money: Review withdrawal, transfer, and funding options against how quickly you may need your savings.
- Deposit insurance: Confirm the account and institution’s applicable federal deposit-insurance coverage.
- Rate changes: Savings APYs are variable; confirm the rate shown when you apply rather than relying on a historical comparison.
The rate and opening-deposit snapshot comes from the table in “Diverging Paths in Banks’ Business Models: New Facts and Macro Implications”, which identifies March 21, 2024 as its data date and Bankrate and the authors’ bank-webpage survey as sources.
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