There’s no reason to settle for a tiny interest rate with your savings account, when with a couple of clicks of your computer mouse you can find you the best rates available out there that are insured by the FDIC through bankrate.com.
All you have to do to do this is to go to go to the website by writing http://www.bankrate.com in to your web browser. Once there you can check out a large number of options to get the information on which bank is offering the highest yield in their savings account.
Once you get to the web page, just go to the Checking & Savings tab near the top of the web page and click on it.
When you do that you’ll see a square box in the middle of the page which offers a checking or savings option to click on. Click on the savings option and you can search for national or local yields. On the national option it offers the highest yields available.
When the results of the various banks are revealed, you can then make it really easy by clicking on the APY (Annual Percentage Yield) column at the top of the results, and the results will be re-displayed in descending order according to the highest savings rate available.
Of course this is only the first step in the process, as then the real work of sorting through the information offered is just beginning.
Now you want to look at other info like their introductory rates, minimum balances, monthly fees, and minimum balance to avoid monthly fees.
You can click on each individual institution you’re interested in and find out their ratings and things like that to help you with deciding on the best option for you.
Some things to make sure you know before opening a savings account are: whether they’re FDIC insured or not, balance availability (how soon can you withdraw after electronic deposits) service fees and strength of bank.
