Let’s face it, the economy just isn’t doing so hot. Many workers are finding themselves unemployed or undermployed, foreclosures are up and consumer debt is rising to new record highs. At times like this, it’s increasingly important to have a well-funded savings account to pay for your living expenses when an emergency comes around, and it’s always a good idea to have money in savings in the event you want to splurge on a major purchase.
Unfortunately, most of the major banks are offering dismal interest rates on their savings accounts for individuals. Some of them are offering rates as low as 0.20% for a typical personal savings account. Individuals who save at these banks are actually earning negative interest rates after factoring in inflation. That’s a problem.
This website is all about helping you find the best deals on savings accounts, checking accounts, and other savings vehicles. We’ll be reviewing a number of different online banks and their online savings offerings. We’ll look at the interest rates they’re offering, how financially stable the bank is, what features each account has, and how any given account compares to the rest of the field. We’ll give you the most comprehensive information available about any given online savings or online checking account. That’s our promise.
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