How to Compare National Saving Account Rates
- 1). Visit Bankrate.com (see Resources).
- 2). Click "Checking & Savings" near the top of the home page.
- 3). Locate the box titled "Find a Money Market Account/Savings rate" and select "National" under number 1. Under number 2, in the drop-down list select "See all MMA/Savings products" or select the size of account you want. Click "Search" to go to the bank comparison chart.
- 4). Find the accounts titled "Savings" in the left-hand column. Read the bank names and rates in the appropriate columns. Use the APY, for annual percentage yield, column to compare the rates offered.
- 5). Compare other information before you choose your bank. Make sure the bank or credit union has FDIC insurance. Many banks advertise this insurance in the comments column. Or check for FDIC or NCUA (credit union) insurance online (see Resources). Compare minimum balance requirements to open an account and to avoid fees. If you have to pay a monthly fee, this will reduce your effective rate of interest.
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Find the best savings account for your money.dollars image by Mikhail Olykainen from Fotolia.com
Complete your investigation into the banks that interest you. Click on the bank names to go to their websites, or click on the blue telephone symbols for phone numbers. Compare bank safety, shown by the number of blue stars under the bank address. To read Bankrate's explanation of the system, click on the stars under a bank's name. Once you have all this information, you can choose the savings account that best meets your needs.
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