Fewer major online banks have been cutting their online savings account rates. I only list three with rate cuts in the last two weeks. One is a repeat from the last summary. Discover Bank had its second 5-bp rate cut in the last month. Its Online Savings Account rate is now 0.40%. Synchrony Bank also had its second 5-bp rate cut in the last month. This is a simple savings account that allows customers to earn a 1.5% interest rate on their savings. An additional 2% p.a will be paid on behalf of the customer by the Bank to a charitable cause. Customers can deposit in bands of N5,000, N10,000 and N20,000. The Unionkorrect account is a tenured savings targeted at a future expense. With a tenor of 4 years and a minimum monthly savings of N5000, customers receive 1.5% interest rate and stand a chance to win cash prices in the bi-annually draws.

IDFC Bank offers one of the highest interest rates of up to 7% interest on your savings account. The balance required for earning 7% is Rs. Balance below Rs. 1 Lac will earn you 6% interest which is 2.5% higher than the interest rate offered by other banks. Looking at historical savings account rates in terms of their movement alongside the national rate can help you make an informed decision when choosing a bank. Historical savings account interest rates. The FDIC has only kept track of savings account interest rates from the beginning of 2010.

Grow your balance over time

Choose from a range of interest-earning savings options to fit your needs, timeline, and risk tolerance.

Simply Savings

A basic savings account that offers the flexibility to easily deposit and withdraw money.

Simply Savings Student

An account specially designed for those 25 and under, with no maintenance fee.

Union Money Fund

A savings account with the opportunity to earn higher interest and write checks.

What Is The Current Interest Rate On Saving Bank Account

Value Edge Money Market

Earn higher interest on balances over $10,000 with easy account access.

**Available to persons age 25 and younger. Annual Percentage Yield (APY) accurate as of the effective date in the deposit account rates. Rate may change after account opening and fees may reduce earnings. Requires enrollment in RoundUp, we will match up to $10 of your RoundUp deposits posted within 60 days enrollment.

15-Month Access CD

Get 0.50% APY* on new money to UBT

If rates rise or you just need to access your money, you can do it as often as once a week. Only new money to UBT eligible with a $10,000 minimum to open.

*Annual Percentage Yield (APY) is based on quarterly compounding. $10,000 minimum initial deposit with $1,000 minimum balance required. Minimum withdrawal of $1,000. Withdrawals may be made without penalty every 7 days. Withdrawals made within 6 days of opening or following a withdrawal will be assessed a penalty, which may reduce earnings. Not available for Public Funds.

UBT HSA

Start saving for tomorrow’s healthcare expenses today

Our health savings accounts offer a triple tax advantage — and room to grow.

Your Money Has People

Real people who really care

Our people take pride in going the extra mile to help our customers, so you can relax knowing we have your best interests in mind. Beyond savings accounts, you’ll find a full range of services to help you grow your wealth — backed by real people, like Lauren.

Fee Relief

With $10,000 in combined personal accounts (HSAs excluded), your debit activity fees and return deposited item fees are waived on your personal checking accounts.

ATM freedom

Enjoy free, unlimited use of all non-Union Bank ATMs as well as Union Bank ATMs.
(Note: This does not waive surcharges some ATM owners may assess.)

It’s automatic

Each month, we automatically check to see if you qualify — you don’t have to sign up. Applies where the primary account holder is the same on the qualifying deposit accounts and checking account.

RoundUp

An easy way to save

Automatically round your debit card purchases to the next dollar (or an amount you choose) into your savings account. It's easy and free! Sign up at any UBT location.

The fastest way to add someone to your account would be to stop into any branch location with them.

We are not able to remove an account owner; a new account would need to be opened.

We require a signature from an account owner to close an account. The fastest and simplest way is to stop into any branch location.

Savings account statements are rendered quarterly. If you have a checking account and have elected for combined statements then you will receive a statement monthly.

A checking or Savings account will become inactive after 12 months of no credit or debit activity.

Regulation D (Reg D) is a Federal Reserve Board rule that puts a limit of six transactions per month on certain transfers and withdrawals from your savings or money market account. If you go over the limit, UBT can charge you a fee and/or close your account or restrict transactions. Reg D is the federal government's way of encouraging people to use saving accounts as they are intended---to save money---and ensures that banks have the proper amount of reserves on hand.

Which transactions are limited under Reg D?

• Online transfers from savings or Money Market accounts to a different account either at the same institution or a different one
• Transfers processed over the phone
• Automatic or preauthorized transfers, such as bill payments or any other recurring transfers
• Overdraft transfers from your savings account to your checking account
• Transfers made by check or debit card.

Which transactions don't count under the limit?

• Withdrawals or transfers made at ATMs
• Transactions made in person at a bank

Quick tips on avoiding Reg D fees/violations

• Make transfers count; do fewer transfers with larger sums of money
• Link any automatic transfers, such as bill payments, to your checking account instead of savings
• If you hit the transaction limit and need to make another transfer or withdrawal from your savings account, do it at an ATM or bank. Even if the bank charges a fee, you won't risk your account being closed.
• If your checking account has overdraft protection linked to a savings account try to avoid overdrafts. Set up low-balance alerts on your checking account.

At Union Bank, we notify our customers by letter each time the violate the regulation in hopes they will explore other ways to avoid going over the transaction restriction but if this is not done our only option is to restrict the transfers and/or close the acct.

For more information regarding Regulation D, please click HERE to view a document from the Federal Reserve regarding this regulation. The information as it relates to Savings accounts begins on page 3.

Savings Accounts benefits

• Free Online eStatements
• Free automatic transfers

Share Savings Account

Secondary Savings Account

Central Cents Savings Account

Union Bank Savings Account Interest Rate

Choice Savings Account

Youth Savings Account

Money Market Savings Account

Health Savings Account

Medical Savings Account

Coverdell Education Savings Account

Idaho First-Time Home Buyer Savings