Typical interest rate for traditional savings account
Contact any of our Traditional Bank locations for information on current and special CD rates. $1,000 minimum investment; Interest rates vary according to term of CD. Access and Interest Earnings-receive your interest by check (quarterly, semi annually) or by direct deposit into a Traditional Bank checking or savings account. Average Savings Account Interest Rates 2020: Statistics and Key Findings National average savings and money market rates increased by a spread of 0.01% over the last month. Continuing their upward trend, both savings products exhibited interest rate growth after staying roughly flat from 2013-2017. The average interest rate on savings accounts is a 0.08% APY, but many of the largest financial institutions in the U.S. pay low rates, around just 0.01% APY. If your current savings account interest rate is as low as 0.01 percent, it might be time to switch banks.