Find the Best Savings Rates Available
Savings accounts are interest-bearing deposit accounts insured by the Federal Deposit Insurance Corporation (FDIC). They are liquid, low-risk accounts that allow your money to grow while remaining relatively accessible. Federal rules impose a limit of six withdrawals per month (excessive withdrawals may result in fees). Also, monthly or lower savings rates may apply if you don't meet minimum balances.
Latest Savings Rates Averages
Savings Average*
0.34% +0.01%
* Average is based on banks tracked on MyBankTracker.com.
Start Saving Early
A solid savings rate and compounding interest will accelerate your savings.
Automate Your Savings
Schedule recurring transfers for simple, out-of-mind savings.
Establish an Emergency Fund
Be prepared with backup funds to pay for unexpected expenses.
Select type of the Savings
Savings in the News
ING Direct Tool Helps Set Savings Goals 
Could Banks Have Paid Out Higher APYs in 2011? 
Fifth Third Bank to Overhaul Fees, Streamline Savings Accounts Quick Check List
1.
How to Save Money
One of the most important decisions you make with your money is how to allocate your savings. Should you lock money into long-term fixed accounts for higher rates? Accept lower yields for the sake of liquidity? What is an appropriate amount for an emergency account?
Whatever your answers to these questions, learning to save money usually begins with the opening of a savings account.
2.
Why should I open a savings account?
You may want to start saving for a new TV in a few months, a new car in a few years or to send your kids to college further down the road. All of them require some sort of savings plan.
An emergency savings account is another vital part of your overall financial health. Some experts advise setting aside $1,000. Others recommend holding the equivalent of three months salary in savings. Some insist that up to one year’s salary is crucial -- particularly to protect against unemployment.
3.
How do I choose the right savings account?
Begin your search at your current bank. Even if you already have a savings account with them, ask about other products that may better suit your needs. Do not assume that the accounts you have now are best for your situation.
You should also compare rates for a high-yield savings account using our savings calculator. Some products may beat your current bank’s rates, but do not assume the highest rate is the best option. You have to make sure you choose the bank that will best fit your banking habits. You may be comfortable with your own bank and not want to start a new relationship, even if you do find a slightly higher interest rate.
Basics of Savings
-
Add to Your Emergency Savings Account
It's important to maintain an emergency savings account to fall back on. Find out some tips to keep your emergency fund filled.
-
Finding High-Yield Savings Accounts
Average savings rates may be low, but it's possible to find high-yield savings accounts with better interest rates.
-
Start Your Child's Savings Early
Studies show kids who open a savings account early on have more success paying for college.
Savings vs Other Type of Investments
-
CDs vs. Savings Accounts
Savings accounts and CDs are two of the most popular banking options. Find out which one offers the best rates and right experience for you.
-
Health Savings Accounts vs. Standard Savings Accounts
Find out how Health Savings Accounts can help you pay for medical expenses and how their interest compares to standard savings rates.
-
Savings Accounts vs. Money Market Accounts
If you're looking for a good place to keep your money safe, you'll want to evaluate the differences between CDs and MMAs.
