Which bank has the best interest rate?I noticed a few banks have decreased the interest rate for savings and checking accounts recently.Can anyone tell me the best bank as far as that goes?Thanks a lot. | |
Which bank has the best interest rate?I noticed a few banks have decreased the interest rate for savings and checking accounts recently.Can anyone tell me the best bank as far as that goes?Thanks a lot. | |
Yes! There is an excellent website called http://bankrate.com. This website keeps daily track of rates banks are giving on money market accounts, savings accounts, certificates of deposit, mortgage rates, credit cards, and a whole host of other information. It tracks banks all over the US (even small ones). Because most banks have online banking, you don't even necessarily have to be located geographically near a bank to have your money making interest there. I learned this from personal experience -- I used bankrate it to find the best paying money market account for my needs, and it was at a bank in NJ, even though I'm in CA!
Also, while we're on the topic, another great tool is http://mint.com. This website is a great budgeting & financial planning tool. Basically, you input your credit cards, bank accounts, investment accounts, etc. It tracks your spending, breaks it down by category with easy to understand graphs, and makes suggestions on how you could save money (on everything from where you buy groceries to the credit card you're using).
In these tough economic times, everybody should be using these readily available and free tools. Good luck!
They all the same as they follow the bank of England, the difference will be in the amount of money and the length of time you keeping the money with them.