That’s because many big banks have been playing a ‘do as I say, not as I do’ game with customers. Many large bricks-and-mortar banks pay even less—Wells Fargo, for example, pays 0.15% on its standard savings account while JP Morgan Chase pays 0.01%. Evergreen Bank—a locally-owned bank serving the Chicago suburbs—is currently offering a 5.25% APY on savings accounts, one of the best savings account rates for October. Compare that to what big banks offer and you can see the appeal of looking for alternatives to the big banks. For some of the current best interest rate deals, check out our list of the best savings accounts and CD rates.

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Persons: Mallika Mitra, they’ve, ”, Mayra Rodriguez Valladares, Morgan Chase, Adam Stockton, you’ve, Susan Mitcheltree, ” Mitcheltree, Andrew Herzog, Herzog, Banks Organizations: Federal Reserve, JPMorgan Chase, MRV Associates, Wells Fargo, Evergreen Bank, Valley Bank, Signature Bank, First Locations: U.S, Wells Fargo, New York, Stockton, “, Baltimore, Plano , Texas, Chicago, —