Times have changed and most savings rates are under 1% APY. However, there are things that you can do to ensure your savings account is earning as much as possible.
Research Saving Account Comparison Sites There are many websites that pull in data from banks to give you a quick snapshot of the savings rate offered by different institutions. Bankrate.com is an excellent source for this research as well as nerdwallet.com.
Ask bank employees about offers for select customers. Some banks offer unique savings account with different rates based on account balance, age, or personal preference.
Check the interest rates offered by your local banks regularly before making a decision. Visit local banks websites to compare rates. Be patient before making a deposit. You should get a feel for the local market before making a decision.
Scrutinize fees. Some accounts impose fees based on balance or withdrawal transactions. Investigate these fees before you select a rate as once fee could cost you your interest for the month.