5 easy ways to pump up your savings
Bigger balances, higher rates
Balances of more than $25,000 usually earn you higher rates.
For example, Citibank's Ultimate Savings Account has rates that reward higher balances. If you stash at least $25,000, your interest rate is triple that of deposits under $10,000 (rates from May 2011).
And Wells Fargo's High Yield Savings Account pays four times more for balances of more than $25,000 than for deposits of less than $10,000 in New York; it may vary in other states. If you link to a PMA Premier Checking Account, the bank adds a bonus of 0.1 percent (also in New York).
Compare rates for other kinds of accounts like money markets via search engines to find the best yields, McBride says. "Higher-yield accounts may not automatically be the best return on your money," he says.
Also, Shevlin says consumers have more leverage to negotiate higher rates at smaller banks, especially if you have multiple accounts and big balances. "Negotiate better rates where you are," he says.