Actual interest rates on Savings Account?

So the official web site for USAA basic Savings Accounts says the interest rate is “.03%”. Customer service chat said it’s “.01%”.

Is it actually .01% , or is this “mainframe math” of $1 x .01 , which would be 1%?
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Ally Bank has 0.5% for savings accounts. My husband and I moved essentially all of our money from USAA to Ally. There is absolutely no longer any reason to have savings accounts with USAA, unless you enjoy endless waiting on the phone and incompetent customer service.

@pkh, Moved to NFCU for the same reason after banking with USAA for over 30yrs. No real advantage to use USAA Banking except for maybe their free checks, assuming you meet the requirements to get them. Also closed credit credit cards and investment accounts before USAA sold their investment business. Much happier all around. Better returns on everything.

@DumpsterFire, Thanks for reach out to us. The following are the Variable Annual Percentage (APYs) for the USAA Savings and Performance First Savings Accounts are current as of 06/11/2021.


Daily Balance        USAA Savings APY     USAA Performance First Savings    APY

Less than $1,000         0.03%                                             0.05%

$1,000 to $4,999          0.03%                                            0.05%

$5,000 to $9,999          0.03%                                            0.05%

$10,000 to $24,999      0.03%                                            0.05%

$25,000 to $49,999       0.03%                                            0.05%

$50,000 to $99,999       0.03%                                            0.06%

$100,000 to $249,999    0.03%                                         0.08%

$250,000 to $499,999    0.03%                                         0.11%

$500,000 to $999,999     0.03%                                         0.25%

$1,000,000 or More         0.03%                                        0.25%


You can also view these rates on


  1. Select Products at the top of the page.
  2. Select the Deposit Product you are interested in.
  3. Select View Rates.


The above is the actual APY not based on "mainframe math". - Ben