Featured Savings Rates
New York Savings Accounts
If you have your savings dollars in a big bank or a bank with low savings rates, then you are losing money. We've found FDIC insured banks that will pay you more. Take a few minutes to explore the options below and see how you can boost your savings by more than 6X the national average rate. There is competition for your money. Take advantage of it!
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Local Savings Rates
Savings accounts offer depositors flexibility along with the stability of FDIC insurance (when deposit amounts are within FDIC limits). Savings accounts are a good place for money that is needed in the next 6-18 months and that the depositor wants to keep safe. Individuals often use savings accounts for a home downpayment, a vacation, a wedding, a car, an emergency fund, or other near-term expenditures.
While online savings account have grown in popularity over the past ten years, some consumers prefer opening an account in a branch and having a personal relationship with the people who safeguard their money. Physical branches also provide an easy way to get cash instantly, to deposit checks and access to notaries and coffee and donuts.
You will find a map with all banks that are close to you here.
· Higher interest rate than a checking account, usually.
· Personal service and interaction. Unlike an online account you are building a relationship with your banker by opening it in a branch.
· Online access. Often, depending on the size of the bank, good online banking functionality.
· Liquidity. Depositors can withdraw their money at any time.
· A variable interest rate. Rates can change at any time. In a falling rate environment, this is a negative. In a rising rate environment, this is a positive.
· A lower rate than an online bank. Branches are expensive and non-online banks often can't afford to pay as much interest as an online bank.
BestCashCow strongly recommends that when depositing money, you stay within FDIC insured limits. If you are considering depositing over $250,000 at a single bank across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should visit the FDIC's website to determine your coverage limits based on your circumstances.
Products by State
BestCashCow is the most comprehensive bank rate site on the Internet. We scan rates from over 6,000 banks and 4,000 credit unions to find and display the best deals for those looking to earn and save more. You can learn more about the company here.
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