There is no verified, complete ranking showing the single highest nationally available savings-account APY on March 18, 2024. The dated examples available around that day include advertised rates from 5.25% to 5.35%, while the FDIC’s national savings deposit rate was 0.46% as of February 20. These figures come from different dates and sources, so they are historical context—not a current rate list or a like-for-like ranking.
What savings rates looked like around March 18, 2024
Published examples near the date show savings accounts advertising rates above 5% APY, but they do not establish which account paid the most on March 18 itself. APYs are variable, and the comparisons below were published or captured on different dates.
| Source and date | Account examples | What the figure represents |
|---|---|---|
| CBS News, February 16, 2024 | Ivy Bank: 5.30% APY; Western Alliance Bank: 5.28%; TAB Bank: 5.27%; Newtek Bank and UFB Direct: 5.25% | Rates listed in a comparison published two days before the title date. Account minimum details were included in the comparison; check its terms and the bank’s current terms before relying on them. |
| Business Insider, surfaced March rate page; exact capture date not established | BrioDirect: 5.35% APY; Customers Bank via Raisin: 5.30%; UFB Direct: 5.25% | Dated examples from a March rate page, not a confirmed March 18 snapshot. |
| Bankrate, March 20, 2024 | 4.74% average APY | Average among the 50 highest-yielding savings and money market accounts listed on Bankrate’s site as of March 20. This is a later snapshot and combines two account types. |
| Authors’ survey of bank webpages, reported in a 2024 paper; comparison dated March 21 | Bask Bank: 5.1% APY; Wealthfront Cash Account: 5.0% yield | A March 21 comparison reported by the paper’s authors, not a March 18 rate table. The Wealthfront figure is a cash-account yield, not an advertised bank savings-account APY. |
For a broader benchmark, the FDIC reported a 0.46% national savings deposit rate as of February 20, 2024. The FDIC calculates its savings and interest-checking national rate using the $2,500 product tier. It also reported a 6.08% national rate cap for February; that is a regulatory cap, not a consumer offer. Neither figure is the highest advertised APY available from banks.
Why the highest listed APY is not automatically the best account
An APY reflects the effect of compounding, but the advertised figure alone does not tell you whether the account fits your needs or whether you qualify for the rate. Before opening an account, compare the terms that determine what you can earn and how you can use the money:
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- Rate and eligibility: Confirm the APY, whether it is variable, and any balance tier or eligibility condition required to earn it.
- Opening and ongoing balance: Check the minimum deposit to open and any minimum balance needed to avoid fees or earn the advertised rate. Requirements varied among the historical examples.
- Fees: Review monthly maintenance charges and other fees that could offset interest.
- Access: Check how deposits and withdrawals work, including transfer timing and any ATM or cash-access features.
- Deposit insurance: Identify the bank holding the deposit and, where a platform or marketplace is involved, how its partner-bank arrangement works. Verify coverage and account ownership details directly.
Because these quoted rates are from 2024, they should not be used to choose an account now. Verify current APY and terms with the bank or platform before applying.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.The nearby Federal Reserve rate decision was not a savings-rate guarantee
On March 20, two days after the title date, the Federal Open Market Committee kept the federal funds target range at 5-1/4 to 5-1/2 percent. That decision describes the policy-rate environment; it is not a savings-account APY and does not guarantee how or when a bank will change its deposit rates. The Federal Reserve’s March 20 implementation note provides the official policy implementation details.
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