Follow Us: Google+
 
Bankrate.com

2011 High-Yield Checking Survey
High-yield checking
savings
5 low-risk ways to earn higher interest

Don't accept a low rate
Next
6 of 7
Back
Don't accept a low rate

Don't just depend on big, brick banks. Credit unions or community banks can offer rates worth chasing.

The amount of money kept in low-yielding money market funds is staggering. But there is lots of competition for that money, which can be easily moved out of a savings account.

According to McBride, the average savings account nationwide earns just 0.17 percent in interest; the highest-yielding one pays 1.25 percent. That's a big spread. "You want to cast a wide net," he says.

That means you can't park your money and forget it. Plan to move your money frequently. "Few banks stay rate leaders for over a year," Tumin says. "They end up dropping their rate."


 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Checking Rates



advertisement
Most Read
  1. 8 eerie ghost towns
  2. Headlight requirements by state
  3. Nick Nolte's house for sale
  4. 6 tips for successful yard sale
  5. Social Security traps to avoid
  6. 7 sedans for the young at heart
  7. 10 cars for a midlife crisis
  8. Ali Landry's house for sale
  9. 7 Social Security benefits
  10. 5 car models that lose value
Savings Overnight Averages
Product Yield +/- Last week
MMA
0.48% 0.49%
$10K MMA
0.47% 0.48%
MMA jumbo
0.61% 0.62%
Interest checking
0.51% 0.51%
Compare rates:
Don Taylorsavings
You've matured, but maybe not those savings bonds you received as a kid.
advertisement
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.