How Do I Know I'm Getting The Best Interest Rate On My Savings?

Advice from Stretch Your Dollar coach Mary Hunt

Q: Where can I earn the best interest on my savings?

A: These days online-only banks like GMACBank.com, FNBODirect.com and OnBank.com, are paying the highest rates of interest on traditional savings accounts, money market accounts and Certificates of Deposit (CDs).

In this current economy, you can expect to earn 2 to 3 percent better online than at a standard bank. And even those rates are likely to change before I finish this sentence.

Excerpted from Can I Pay My Credit Card Bill with a Credit Card? And Other Financial Questions We're Too Embarrassed to Ask! (DPL Press, Inc., 2009)

Join the Stretch Your Dollar Community Challenge to start saving money and getting more for less.

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