How to choose a bank for saving money (best, deal, online)

[xiaoyuemojie]

I need to open an account for saving money, but it seems there are many choices among different banks. I just came to America a couple of months ago and don't have much experience on how to choose a bank.

I already have a checking account(and debit card) for daily use.The main purpose of this new account is for saving, so I think higher saving rate is good. Are there any other features should I foucus on?

I heard there is a kind of website which lists different banks rate on it, but I can't find it...

Thanks for your advice!

[hiknapster]

I think this is what you are looking for.

Checking Account | High Yield Savings Accounts | Best Money Market Account Online

[ylisa7]

Originally Posted by hiknapster

I think this is what you are looking for.

Checking Account | High Yield Savings Accounts | Best Money Market Account Online

That's the first one to check.

You can also check bank ratings at:

Bank Ratings

Lisa

[swagger]

Unless you have a lot of money to sock away, the interest rate isn't going to matter much. I'd go to the bank you already have an account with and open it there.

[xiaoyuemojie]

Hiknapster and Younglisa7, thanks very much, that are very helpful!

[xiaoyuemojie]

Originally Posted by swagger

Unless you have a lot of money to sock away, the interest rate isn't going to matter much. I'd go to the bank you already have an account with and open it there.

You are right, a friend always told me that " you cannot make more money depend on saving in the bank, but to have a better way to earn more!"

In fact, the first account uses my husband's name, and I need to open another account with my name, so we consider a different bank.

Thank you!

[california-jewel]

That is not true, I took out a large sum of money not making money on it at WELLS FARGO, and put it into ING, and the MONEY, i am making, upsets me i did not do this sooner.Wells Fargo i did have the high yield account, and it still does not compare to what i am making at ING.But this also depends on how much money you are going to be putting into an account.

[NCN]

Best deal in North Carolina is the employees credit union. You can save as little as $250 for 60 months and as of December 18, 2009 the rate for the CD was 3.25%. Now this is for employees only, but if you are a child or a grandchild of a working or retired employee, you may qualify to bank with them. Call and check to see if you have a connection. I don't know where this connection stops. It may include parents, siblings?? I am sure they would be glad to inform you if you can be in the "family."

[NCN]

Originally Posted by younglisa7

That's the first one to check.

You can also check bank ratings at:

Bank Ratings

Lisa

Lisa, you are a good girl to know. You have so much information about living. It is not how much you make, it is how you manage what you make.