♍🐻 The full article follows below this list of offers from our partners.

Big vs. Small, Bank vs. Credi🍒t Union — The Key Is Shopping Around

The best rates you can earn on nationwide savings accounts and 澳洲幸运5开奖号码历史查询:certificates of deposit (CDs) are typically available from small to medi﷽um-sized banks and credit unions. Because these institutions have names you may not recognize, they have to work harder to attract customer deposits.🧸 One way they do this is by offering more competitive interest rates.

Some of the very biggest U.S. banks, on the other hand—like Chase, Bank of America, and Wells Fargo—aren't hungry for deposits in the same way smaller institutions are. That's why some of them have savings account rates that are very close to zero—and most of their CDs also pay a pittance. So you could be making a big financial mistake if you move money to a savings account or CD at one of these banking giants without doing your homework.

The good news is that we make it extremely easy to do your research. Every business day, we publish the topꦯ nat♓ionwide rates on high-yield savings accounts and the 澳洲幸运5开奖号码历史查询:best nationally available CD rates in every majไor term. Each list provides at least 15 top-paying options that anyone in the country can open.

If you find you'd still rather deposit your savings with a brand-name bank that feels more familiar, it's not impossible to earn a respectable rate. You just have to choose carefully. While you won't earn the highest rate in the country, you can still earn many times the national average if you take a little time to shop around.

Earn at Least 4% From These Big U.S. Banks

Of the 30 largest U.S. banks (ranked by total domestic deposits), a baker's dozen currently offer at least one savings or CD rate of 4.00% APY or higher. A few even pay 5% or more for select products. You can see what each bank currently of🐎fers below.

Just beware that rates can go up or down on any given day, so what you see here may or may not still be available when you're shopping around. Also note that some of these banks offer different rates in different ZIP codes, so your mileage may vary depending on where you live.

To Earn 🌞a Tip-Top Rate, Consider a Smaller Institution

Want to earn more than a 4% rate and score one of the highest rates in the nation? Simply loosen your criteria on how big or recognizable the bank needs to be. More than 100 banks and credit unions offer 澳洲幸运5开奖号码历史查询:high-yield savings accounts to customers nationwide, 💯and over 200 offer nationally available CDs. By being willing to bank at a medium-sized or even small institution—after ensuring it is federally insured—you can ♏earn the highest rates available.

Our daily ranking of the ꦓ澳洲幸运5开奖号码历史查询:best high-yield savin🅘gs account rates currently includes 18 options that pay 5.15% APY or better, including the nation-leading rate of 5.50% APY.

Our 澳洲幸运5开奖号码历史查询:daily ranking of the best CD rates, meanwhile, includes five leading CDs that pay🌳 between 5.50% and 5.65%༺, with terms ranging from 3 to 7 months. For terms of 1 to 2 years, the top nationwide rates range from 5.20% to 5.40% APY, while you can earn from the upper 4% range to 5.00% APY in terms of 3–5 years.

If it feels less safe to deposit your money in one of these smaller institutions, let us assure you that the size of these institutions doesn't pose any risk. That's because 澳洲幸运5开奖号码历史查询:FDIC insurance applies equally to all⛎ member banks, regardless of size. So if the smaller bank you're considering is an FDIC member, your deposits are just as safe at that bank as at an exceptionally large one.

The same holds true for credit unions—if they're a member of the 澳洲幸运5开奖♈号码历史查询:National C𝔉redit Union Administration (NCUA), they too offer the♉ same federal insurance protection on your deposits that FDIC coverage provides, and the credit union's size has no bearing on your cove꧑rage.

Why CDs Are So Easy to Hold at Another Bank

You may already have a long history with your primary banking institution, and making a change in where you hold your checking account could involve a significant disruption to your daily financial life. That's why it's nice to stick with one primary bank or 澳洲幸运5开奖号码历史查询:credit union for most of your banking business.

But putting money in a CD isn't "everyday banking." By definition, CDs are a place to stash your money and not touch it for months or years. While it's true there will be monthly statements and interest payments, these are not transactions that require your attention or action. If you're like most CD buyers, you'll interact with your CD account twice in its lifetime: once when you open it, and a second and final time when you cash out and close it.

That makes CDs very easy to hold at institutions other than your primary bank. So if you decide to shop around in hopes of scoring a higher rate, know that a CD's "park it and forget it" nature will make things very simple for you.

How We Find the Best Savings and CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for🎉 credit unions), and the account's minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, 澳洲幸运5开奖号码历史查询:read our full methodology.