Doral Bank Has New York City’s Best Savings Account Interest Rates
A careful examination of interest rates offered by savings accounts in different banks in New York City reveals that Puerto Rican-based Doral Bank offers the highest rates of any other. Savings customers can earn interest rates of 0.94% APY on their deposits, the best rate by a full 0.10% more than the bank in second place. All customers have to do to accrue such a favorable rate is to open a Statement Savings account with a minimum deposit of $50. In order to be exempt from a $4 monthly service fee account owners must maintain a $250 minimum balance.
Not only do Doral customers get New York’s best interest rates in a savings account, they also have access to free online banking. The following is the ranking of the ten best of New York City’s banks for savings accounts, according to GoBankingRates.com
10 Best New York City Savings Account Rates
| Institution | Savings Account Type | Rate (APY) |
| Doral Bank | Statement Savings |
0.94% |
| Spring Bank | Savings |
0.85% |
| BNB Hana Bank | USA Savings |
0.50% |
| Habib American Bank | Statement Savings |
0.50% |
| Mercantil Commercebank | MCB Savings |
0.50% |
| Eastbank, N.A. | Passbook Savings |
0.40% |
| Emigrant Bank | Passbook Savings |
0.40% |
| Savoy Bank | Savings |
0.40% |
| BankUnited, N.A. | Value Savings |
0.35% |
| Community Federal Savings Bank | Passbook/Statement Savings |
0.30% |
The above information is accurate as of November 20, 2013
