High Yield Savings Account Interest Rates – Checking Accounts from Ally Bank and Discover Bank Offer Incentives

Posted on | August 24, 2010 | No Comments

High yield savings account interest rates have remained attractive for quite some time as there are many local community banks offering rates as high as 5%. When it comes to national bank checking accounts some of the more impressive bank offers come from Ally Bank and Discover Bank. Unfortunately, it is very hard for national banks to compete with local community banks.


It is very important to remember that these local community banks usually restrict applicants to individuals with residency in a specific area. Without having residency within a specific county or region it will likely be the case that applications are not accepted. This is a great reason to start research locally when it comes to high yield savings account.

It is also important to remember that most of these local community banks do not have locations spread throughout the country. If a customer is a traveler and likes to have access to his or her bank throughout the United States that it probably would not be a wise decision to have one checking account with a local community bank.

Author: Heather Best

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