Best savings account still paying 2.0%

Money sticking out of bank book

Southern Community Bank and Trust leads our rankings of the best nationally available savings accounts for the third straight month.

It continues to pay 2.00% APY, with no minimum balance, through its Web site.

That's more than the 1.80% APY you can earn with the best, nationally available 12-month CD.

But be careful. You'll find Southern Community is only offering 0.15% APY if you open a savings account through its own Web site or one of the bank's 20 North Carolina branches.

Franklin Synergy Bank, with two offices in Franklin, Tenn., lowered its rate to 1.65% APY to 1.70% APY this week.

Although that's still good enough to hold onto second place, although you'll need a hefty $25,000 minimum deposit to buy a certificate of deposit there.

The next best deals as of May 4 all pay 1.50% APY. They're from:

Chesapeake Bank, which has 11 locations in eastern Virginia and requires a $1 minimum deposit., an online bank based in Charlotte, N.C., that requires a $1,500 minimum deposit and a $1,000 average balance to avoid a $10 monthly service fee.

First Trade Union Bank, which has four branches in the Boston area, requires a $2,500 minimum deposit and a minimum daily balance of $250 to avoid a monthly $2.50 service charge.

Compare these rates with the best savings rates from scores of other banks in our extensive database.

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