Frost Bank's savings account lineup does not include a dedicated high yield savings product
Frost Bank, a regional bank based in Texas with branches across the state, offers standard savings accounts but not a high yield savings account (HYSA). Their savings products carry rates that track with traditional brick-and-mortar banking — typically lower than what online banks or credit unions advertise for high yield products.
If you bank with Frost and want to know what rates they currently offer on savings, you need to check their website or visit a branch, because rates change and vary by account type and balance tier. The bank does offer money market accounts and certificates of deposit (CDs), which sometimes carry higher rates than savings accounts, but these are different products with different terms.
The practical difference matters: a high yield savings account at an online bank might pay 4.5% APY on balances of any size, while a traditional savings account at Frost might pay 0.01% to 0.05%. Over a year, that gap compounds significantly on larger balances.
Key Takeaways
- Frost Bank does not market a high yield savings account; their savings products are standard-rate accounts typical of regional banks with physical branches.
- Rates at Frost change over time and may vary by account balance, so the current APY on their savings accounts should be verified directly with the bank.
- If you want high yield rates, you would need to open an account at a different institution — typically an online bank or credit union — while keeping your Frost checking account if you prefer.
- Frost does offer money market accounts and CDs, which sometimes pay higher rates than savings accounts, though these come with different rules and lock-in periods.
Why regional banks like Frost typically don't offer high yield products
High yield savings accounts became common at online banks because those banks have lower overhead — no branch staff, no real estate, no teller windows. They pass those savings to customers through higher rates. Frost, like most banks with physical locations across Texas, carries the cost of maintaining branches, which means their rates stay lower to remain profitable.
This is not a flaw in Frost's business model; it reflects a different choice. Some customers prefer having a local branch to walk into, even if it means accepting lower rates. Others prioritize rate and are willing to bank entirely online. Neither choice is wrong — it depends on what you value.
What Frost Bank savings products actually offer
Frost's standard savings account is designed for basic saving, not for maximizing interest. You can open one with a low minimum deposit, make withdrawals without penalty, and earn whatever rate the bank sets. The tradeoff is that the rate stays low.
Their money market account typically requires a higher minimum balance and may offer a slightly better rate in exchange. CDs lock your money for a set term (3 months, 6 months, 1 year, 5 years, and so on) and pay a fixed rate for that period. If you withdraw early, you pay a penalty. The longer the term, the higher the rate usually is, but rates depend on what the Federal Reserve is doing and what Frost decides to offer.
None of these are high yield products by current standards, but they may fit if you need the convenience of a Frost branch or already have other accounts there.
How to find the actual rates Frost is offering right now
Frost publishes current rates on their website under the savings or deposit section. You can also call a local branch or visit in person to ask. Rates change when the Federal Reserve adjusts its benchmark rate, and banks adjust their own rates in response — sometimes quickly, sometimes slowly.
When you check, note the minimum balance required to earn the stated rate. Some banks offer one rate on balances under $10,000 and a different rate above that. Frost's structure may vary, so read the account terms carefully.
Your options if you want high yield rates
You do not have to close your Frost account to get high yield rates elsewhere. Many people keep a checking account at their local bank for convenience and direct deposit, then open a high yield savings account at an online bank for the rate. You can transfer money between them as needed.
Online banks that offer high yield savings include Marcus by Goldman Sachs, Ally Bank, American Express Personal Savings, and others. Credit unions sometimes offer competitive rates too, especially if you are a member. The rates these institutions offer change frequently, so compare current offers before opening an account.
The downside of online-only accounts is that deposits and withdrawals happen by transfer, not in person. If you need cash when ready or prefer face-to-face banking, that matters. If you are comfortable with digital banking and transfers, the rate difference usually outweighs the inconvenience.
When Frost's other products might make sense
If you have money you will not need for a specific period — say, 12 months — a Frost CD might pay more than their savings account, and you would know the exact rate upfront. This works well for money earmarked for a specific goal with a known timeline.
Money market accounts can be useful if you want slightly higher rates than savings but need more flexibility than a CD. The tradeoff is usually a higher minimum balance and limits on how many withdrawals you can make per month.
Neither of these replaces a high yield savings account for general emergency funds or money you want to access without penalty, but they are worth comparing if you are already banking with Frost and want to optimize what you earn.
Frequently Asked Questions
Does Frost Bank have any account that pays high yield rates?
No. Frost's savings accounts, money market accounts, and CDs all pay rates typical of regional banks with branches, which are lower than what online banks call high yield. If high rates are your priority, you would need to open an account at a different institution.
Can I keep my Frost checking account and open a high yield savings account somewhere else?
Yes. Many people do this. You can keep your Frost checking for direct deposit and local branch access, then open a high yield savings account at an online bank for better rates. Transfers between them take one to two business days.
What is the difference between Frost's savings account and their money market account?
Money market accounts usually require a higher minimum balance and may pay a slightly better rate. They sometimes limit how many withdrawals you can make per month. Savings accounts are more flexible but pay less. Check Frost's current terms for exact rates and minimums.
If I open a CD at Frost, can I withdraw the money early?
Yes, but you will pay an early withdrawal penalty. The penalty amount depends on the CD term — longer terms usually have larger penalties. Ask Frost what the penalty is before you open the CD so you know the cost if you need the money sooner.
How often do Frost's savings rates change?
Rates can change whenever the Federal Reserve adjusts its benchmark rate or when Frost decides to change their own rates. There is no fixed schedule. Check Frost's website or call your branch to see current rates.