Find Savings Accounts With The Best Savings & Bank Rates

There are many options that can allow you to build up your savings with minimal to no risk. The best options have good rates of return, low fees and great customer service. Decide whether you’ll go for more liquid accounts such as standard or online savings accounts and money market accounts, or whether you need something less liquid, but with potentially higher returns, such as certificate of deposit accounts or other time deposit accounts. If you’re looking for reputable banks and financial institutions that offer such products, then do check out our list. These savings rates are updated dynamically.

To use the rate table below, enter the type of savings account you need, as well as the amount you intend to use to open your balance:

These are our favorite savings vehicles and checking accounts:

Online Account
Min. Balance
EverBank Money Market $1,500
EverBank Freenet Checking None / $1,500
Ally Bank $0
FNBO Direct $1
ING Direct Savings $1
ING Direct Checking $1
Aurora Savings $1
Aurora Checking $1

Setting Up A Savings Plan With The Best Savings Accounts

Okay so how many high interest savings accounts do you have? If you only have one, you could be missing a strategy when it comes to getting the most out of your money. This is especially true if you have a significant amount of savings to do something with. We offer some ideas that could help you to formulate a different savings plan you can use for the months and years ahead.

Build Short & Long Term Savings With The Best Interest Rates

The most important thing to focus on is to build up an easy access cushion of cash to fall back on if you need to use it. If you lost your job or suddenly needed to buy a new car for instance, you would feel a lot better if you knew you had that cushion ready to soften the blow.

Once this is in place –- in an instant access account for obvious reasons –- you need to think about longer term savings as well. Think about how much you want to tie up and for how long, and then look for a suitable account or investment opportunity that will provide you with a better rate for the longer term.

Liquidity And Instant Access To Your Money

Your immediate savings should always be easy to get, if necessary. If something urgent comes up, you don’t want to be told that you’ve already made the one withdrawal you are allowed to make in a calendar month (without penalty), or that you aren’t allowed to make any withdrawals at all in a calendar year.

Always read the small print whenever you have a new account to open. It will enable you to know exactly where you stand before you get started.

Where To Earn Tax Free Savings

No one wants to pay more tax than they have to, so you may want to jump at the chance if you can put some of your money away legally without it being subjected to tax.

Different Purposes For Different Accounts

Do you have any major goals you are trying to reach in your life? A good example would be to save up for next year’s holiday, for example. Another possibility could be saving for a new car.

Whatever it is, if you have a major goal like this you should think about getting a dedicated account just for that purpose. It is much easier to save towards that goal when you can see the amount building up and you know all the cash is destined to help you reach your goal.

Most people would benefit from having more than one high yield savings account set up. Explore and determine the reasoning behind setting up a savings account, and you can look forward to making the most out of every single one of them.