Compare Banking and Savings Rates

Why Compare Rates?

Your savings account is a great place to store your emergency fund. Linked to your checking account, you’ve got nearly instant access to your cash if you need it.   But your savings probably aren’t earning you as much as you could.   Adding an interest-earning machine — like a certificate of deposit, money market account or high-yield savings account — to your financial lineup can help you grow your personal wealth faster.   Make your money work hard for you.

What Account Is Right For Me?

When it comes to interest-bearing accounts, you’ve got options.

Certificates of deposit

A Certificate of Deposit (CD) allows you to deposit a specific amount of money for a fixed period — typically ranging from a few months to several years. In return for keeping the funds untouched for the agreed-upon term, you earn a higher interest rate than regular savings accounts. CDs are considered low-risk investments as they are insured by the FDIC (or NCUA for credit unions) and provide a predictable return on investment. However, early withdrawals from CDs may result in penalties, making them suitable for individuals with a longer-term savings goal.

High-yield savings accounts

Provides a higher interest rate compared to traditional savings accounts. Thanks to the competitive interest rates, these accounts are designed to help individuals grow their savings quicker. High-yield savings accounts often provide easy access to funds when needed. They are a safe and flexible option for individuals looking to earn a higher return on their savings without the risks associated with investments.

Money market accounts

Combines features of both savings and checking accounts. It typically offers a higher interest rate than regular savings accounts while allowing you to write checks and access funds through ATM withdrawals or a debit card. They are a popular choice for individuals who want to earn a competitive interest rate on their savings while maintaining easy access to their funds for everyday expenses or emergencies.