Acquiring the best online savings account rates 2012 is different than it used to be as the interest rates are quite low. People that chase around savings account rates often find that it is difficult to find one single bank that they can stick with for a long time as the rates are always fluctuating. While the rate is important to help your investment goals it is also vital that you look at some other features of the account.
Chapter 1. Account Fees
The best savings account rates will be higher but you have to watch out for the account fees. The account fees could pertain to the balance requirement needed to maintain the account. Other accounts charge fees for things like withdrawals or just a fee to maintain the account. It is important that you look at the balance requirements for the account and then add the interest rate to this to see if you truly are getting the best online savings account rates.
Chapter 2. Competing Banks
When you are comparing savings account interest rates one of the other things that you need to watch for includes the rates with competing banks. The best banks are going to be backed by the FDIC, which means your investment is secured. You do need to be leery of the banks that have higher interest rates and don’t seem to match what all the others are offering. There is a good chance they are not secured by the FDIC, which means your money is at risk. Banks not only compete to give you the best rates they may waive account fees and could offer you an incentive just to open an account with them. Consider these items when you are looking for the best banks to work with.
Chapter 3. Customer Service
How easy will it be for you to access your online savings account? This is another thing to consider as you need to seek out an account that can provide you with quality customer service and not always the best savings account interest rates.
Chapter 4. Alternative Investments
If you are dealing with a larger amount of money online savings account rates 2012 might not be the best option for you to consider. There are other investment options that could help you to grow your money quickly like a CD account. Check on the current CD rates and consider using a tiered approach to your investments in order to make the most out of your investment.