Online Banks Dominate Top Savings Interest Rates Available
The largest U.S. bank holding companies (by assets) by far offer the lowest rates over regional banks, local banks, and of course, online banks. For example, below is a list of savings rates by the top 4 largest banks.
Savings rates are low these days but the rates offered by the big banks are pathetic. The next set of rates are online savings rates from online banks.
The rates from online banks are about 100 times higher than the big brick and mortar banks. Its a good thing people are a lot more comfortable banking online these days. That wasn't always the case since online banking and online banks are (comparatively speaking) relatively new, having come about in the past 15 years or so.
If you're still not comfortable with online banking, most banks give you the ability to print an account application and submit it and any deposits via regular mail. You can still get a better return on your savings accounts without having to deal with banking online.
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