Best Bank Rates and Deals

The silver lining in the cloud of the recession is that most Americans are recognizing the need for an emergency fund to cover at least three months of expenses. For many, opening a traditional savings account is the best way to begin building an emergency fund.

Financial experts suggest that consumers ease into a regular savings pattern by transferring money automatically from each paycheck into a savings account.

Choice Financial, a community bank in North Dakota, is offering several online FDIC-insured “RateBuilder” accounts, including a RateBuilder Savings Account that pays 2.06% APY for the first 30 days. Consumers must open the account with a minimum balance of $5,000. After the introductory period, savings accounts with $5,000 to $24,999 will earn 1.26% APY; with $25,000 to $99,999 will earn 1.41% APY and those with $100,000 or more will earn 1.51% APY.

Comparing savings accounts online is the easiest way to find the account with the best interest rates that meets your requirements.

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