-
Step 1
Contact the bank where you currently have an account. Ask for their savings interest rate, and what types of savings account they have available. You can also get this information from your bank's website.
-
Step 2
Increase your search to look for most of the available rates across the country by logging onto Bankrate.com (see Resources). You are able to search either by state or by the 100 highest-yield accounts in the country.
-
Step 3
If you are only interested in the savings accounts available in your state, click on your state on the Bakrate page. The banks that provide savings accounts will be listed. You can compare the interest rates, as well as the bank fees and minimum-balance requirements.
-
Step 4
Search by highest savings rates available. If you do not care for geographic proximity but are more interested in finding the highest rate, click on the the "100 Highest-Yield Accounts" search button. Dollar Savings Direct and the ING Orange Savings Account are among the highest-interest-rate accounts in the country.
-
Step 5
Open an account. Once you have compared the online savings accounts across the country with your local bank's, you are ready to make a decision and open an account. If you decide on an online savings account, you will need to link it to your existing checking account to get it funded.
