well I just opened one at a traditional bank (wells fargo) and the interest is like 0.32something… really crappy…. but I opened one online… with my paypal account and they are paying a yearly interest of something like 4.9 to 5.2.. i thought that was good
Brett H says:
April 20th, 2010 at
1:19 pm
The rate from the your regular bank is next to nothing. If your looking to make money, I would look else where.
Uncle Leo says:
April 24th, 2010 at
12:03 am
It will depend on a variety of factors, such as local competition, the bank’s needs for funds, and the type of financial institution. Regular bricks and mortar banks are likely to have the lowest rates, credit unions may do a little better, and online banks are likely to have the highest rates. But remember that bricks and mortar banks and credit unions may offer convenience and services that online banks don’t offer.
You may also want to consider money market funds offered by mutual fund companies. Money market funds are not federally insured, but if they invest safely, such as in U.S. Treasury securities, they will be essentially as safe as bank accounts. Their rates are usually quite competitive.
Ovelia says:
April 24th, 2010 at
1:56 pm
Recently the prime rate was lowered which means that the savings accts rates are going to lower as well. In most cases the larger the bank the lower the interest rate. If you’re looking for something that is local and accessable by actually going up to tellers and talking with someone in person. You’re best option is usually a Credit Union. If you’re comfortable with banking online and never actually seeing someone in person. You’re better off with going to one of the online Savings acct places like or But if you wanna do a little research go to
from there you can choose your local area and find local banks with the best rates. That may not include Credit Unions sometimes it does and sometimes it doesn’t. But right now Online savings accounts are at the highest rates with around 5.05% APY
missy says:
April 25th, 2010 at
11:08 am
if its strictly for savings may I suggest a mutual fund… they pay better than your average savings account at a bank and you can still access your money at any point like you would with a savings account… the only diff is that it requires your discipline to put in a certain amount of money per month… but that only means you’ll really be saving… I may be able to help you out if you’re really serious you can email me
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babygirl21ntx says:
April 19th, 2010 at 7:21 am
well I just opened one at a traditional bank (wells fargo) and the interest is like 0.32something… really crappy…. but I opened one online… with my paypal account and they are paying a yearly interest of something like 4.9 to 5.2.. i thought that was good
Brett H says:
April 20th, 2010 at 1:19 pm
The rate from the your regular bank is next to nothing. If your looking to make money, I would look else where.
Uncle Leo says:
April 24th, 2010 at 12:03 am
It will depend on a variety of factors, such as local competition, the bank’s needs for funds, and the type of financial institution. Regular bricks and mortar banks are likely to have the lowest rates, credit unions may do a little better, and online banks are likely to have the highest rates. But remember that bricks and mortar banks and credit unions may offer convenience and services that online banks don’t offer.
You may also want to consider money market funds offered by mutual fund companies. Money market funds are not federally insured, but if they invest safely, such as in U.S. Treasury securities, they will be essentially as safe as bank accounts. Their rates are usually quite competitive.
Ovelia says:
April 24th, 2010 at 1:56 pm
Recently the prime rate was lowered which means that the savings accts rates are going to lower as well. In most cases the larger the bank the lower the interest rate. If you’re looking for something that is local and accessable by actually going up to tellers and talking with someone in person. You’re best option is usually a Credit Union. If you’re comfortable with banking online and never actually seeing someone in person. You’re better off with going to one of the online Savings acct places like or But if you wanna do a little research go to
from there you can choose your local area and find local banks with the best rates. That may not include Credit Unions sometimes it does and sometimes it doesn’t. But right now Online savings accounts are at the highest rates with around 5.05% APY
missy says:
April 25th, 2010 at 11:08 am
if its strictly for savings may I suggest a mutual fund… they pay better than your average savings account at a bank and you can still access your money at any point like you would with a savings account… the only diff is that it requires your discipline to put in a certain amount of money per month… but that only means you’ll really be saving… I may be able to help you out if you’re really serious you can email me