Deposit Rates by State

Why some states have their own page and others do not

Nearly every institution in our database accepts deposits nationwide. When the best savings account in one state is the same account as the best in every other state, a page per state would be fifty copies of one comparison table with the place name swapped — which helps nobody and is exactly what search engines penalise.

So we publish a state page only where the state genuinely changes the answer: a credit union with a residency requirement, a bank operating in a limited footprint, or a state tax rule that alters the after-tax return. 51 states currently have no rate that is restricted to them, so their best options are simply the national list.

What actually varies by state

• Income tax on interest. Savings and CD interest is taxable by most states. In the nine states with no income tax on wages and interest, a 4.50% APY is worth more than the same 4.50% in a state taxing it at 9%. This is also why Treasury bills, whose interest is exempt from state and local tax, can beat a higher-yielding CD on an after-tax basis.
• Credit union eligibility. Many credit unions restrict membership to residents of specific counties or states. Those rates are real but only reachable by people who qualify.
• Branch-limited banks. Some of the strongest rates come from regional banks that only open accounts in the states they serve.
• Mortgage pricing. Property taxes, title and recording fees, and insurance costs vary enormously by state and change the real cost of a loan far more than small differences in the quoted rate.

Start here instead

If your state is not listed above, the national comparison is your best available answer: high-yield savings, CD rates, money market accounts and mortgage rates. Every account listed there is available to residents of all 50 states unless the listing says otherwise.