savings

5 low-risk ways to earn higher interest

Go for bank incentives
Go for bank incentives | pixdeluxe/Getty Images

Go for bank incentives

Opening a new account? Check out bank incentives, such as cash bonuses.

But you'll have to meet requirements, such as maintaining a minimum balance to avoid a monthly fee, using direct deposit and keeping the account open for a certain length of time.

Less commonly, you'll find banks that offer referral bonuses. But be careful about making a long-term commitment with a bank that offers a bonus. You may find that standard interest rates are puny.

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