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Get the Best Bank Rates Online


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For some of the best rates on savings accounts and CDs, head to cyberspace. Internet banks, such as ING DIRECT and NetBank, where you conduct all your banking online, typically pay 1-2% higher interest than brick-and-mortar banks because they don't have the expense of maintaining branches, says Jim Bruene, editor of Online Banking Report.

Your money is safe; it's insured by the FDIC. There are no fees or, at least, lower ones and occasionally no minimum deposits. Some of these banks even offer lower-rate mortgages and loans. So what's the catch?

Deposits typically are mailed in or transferred from an account at another bank (usually for free). Not all Internet banks have ATMs, so money may have to be transferred back to your checking account before you can access it, which can take a few days. "Still, for a serious saver, Internet banks are a great deal," says Bruene.

Read here for more ideas on where to stash your cash.

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