USAA -- why have you kept savings rates in the basement still?  The Fed has bumped it twice, but ya'll have left it to sit at the lowest level on record.

What's worse about this situation is that now generation of kids have grown up thinking that rates like these are normal, and they don't want to trust banks at all.


Shredder - To better serve our members, we regularly review our rates to ensure they're competitive and based on current market data.


Our deposit accounts offer the following benefits:


ATM rebates (1)

Competitive savings rates

Eligibility for free Web BillPay® services with your checking account

No monthly service fees, regardless of your balance

Online and mobile banking, which may include USAA Deposit@Home® and Deposit@Mobile® (2). (Eligibility requirements and other qualifications based on your account history with USAA Bank must be met.)


Thanks for voicing your opinion today. We rely on member feedback to improve our products and services. - Jason​​​​​​​

Why don't you tell me what your savings account interest is?

@Nichevo, Thank you for your inquiry about savings account interest. We offer two different types of savings accounts. The USAA Savings account is best for those starting to save. The Performance First Savings account has higher interest rates for those with savings account balances of $10,000 or more. You can review the rates for both account types here: ~DC

I agree that the .30% interest rate on their best savings account offer is not right. If you look elsewhere banks provide up to 1.3% interest. The ATM rebates, bill pay and low service fees, etc. don't come close to making up for what you would make if you have close to $100,000 in a savings account. Trying to establish a balanced portfolio with cash as part of it is difficult at USAA with such a low interest rate on the savings accounts. This and the dramatic increase in insurance over the past two years is bringing in big profits for USAA at the cost of its members. Has anyone else noticed that USAA's best saving account interest is .30% and other banks provide as much as 1.30% interest on their savings accounts? Why is this? I've asked USAA and they won't give me an honest answer. Has anyone else inquired?

Jim, I have been an advocate for USAA to review their rates, but as Jason said, they are "competitive", USAA has no interest in investing in the membership base, the atm reimbursements are because they have no physical locations, which they should do. Their products as a whole in the banking department are lackluster, not just savings rates. Best of luck trying to get them to reverse course, been with them for four or five years and their rates are and have been "bottom of the barrel".

jimmyb84, I appreciate your feedback regarding the competitive rates we offer. Your concerns have been recorded and will be reviewed when consideration of rate changes are being discussed. Thank you again for providing us with your concerns. -Marisa

In my experience USAA has never been competitive with market leading saving rates. I agree as it will be beneficial to have the higher savings rate so members can keep all funds in house. I personally move savings money to a different bank/credit union so I can maximize the benefit for my family.

Now on the other hand usaa has made movement to offer Cashback Checking to return some value. But I do believe it falls short compared what others are offering. For example, one offers 1% cash back on the first * debits while maintaining the atm rebates. That potentially is a 30 value per month plus atm rebates if needed.

So USAA, please pass back two suggestions one for better savings rates and second to enhance your current Cashback Checking

Batman23, Thank you for your feedback. Please note, due to the volume of feedback received from members we are unable to notify each member individually if an idea or comment results in a direct change; however your concerns and feedback have been shared for assistance in future updates. ~JM

Jim, You're not alone. Many have inquired and many have received the same response: "USAA regularly reviews its rates to ensure they're competitive and based on current market data." I ended up closing/moving all my bank/investment acounts elsewhere and managed to get at least double what USAA was offering with as low as $50k.  My other financial institution regularly offers short term CDs/Certificates at 2% and in some cases beyond that. The best you get with USAA is 1.56%, 4yrs (min $175K). Tie up that much for a modest return? It might work well for some people, but I think there are other alternatives. You just need to see what you think will work with you and go for it.