How to Find a High-Interest Savings Account

In today's economy, opening an FDIC insured high interest rate savings account is the safest way to save money for the short term. The resources below provide a good step to your research, selection, and opening the savings account for you.

TAKE TIME TO RESEARCH

BankRate.com is one of the best places to find the current interest rates for savings accounts and CDs. As these interest rates frequently change, it is good to check back every 3 - 6 months to see if you can find a better deal. Typically, the online savings accounts to have a higher interest rate, so don't count them out. Some resources for your research included HSBC Direct Online Savings and ING Direct Online Savings (two well known online savings accounts), and Guide to FDIC Insurance, .

OPEN YOUR ACCOUNT

Once you have chosen the account with the highest interest rate, that is also FDIC insured, follow the instructions by the bank or institution to open your new savings account.

CONTINUE TO ADD

Each day, week, or month try to add more to your account to keep increasing your balance. Any small amount you can spare will add up in the long run.