High Yield Savings Account – Checking Interest Rates Marketed by Ally Bank and SunTrust in October 2010
Posted on | October 18, 2010 | No Comments
A high yield savings account has grown in interest over the last several years as millions of Americans have learned the mistake of the credit crisis. Some of the major banks that are marketing their checking and savings interest rates very hard include Ally Bank and SunTrust. Remember that these are not the only options as there are many bank spread throughout the United States.
It tends to be the case that local community banks offer some of the best interest rates on a new checking account. There are community banks spread throughout the country that are currently offering interest rates as high as 5% for applications that are submitted from a specific county or area. Without having residency in a specific area or area it is very hard to gain access to these local community banks.
Taking the time and effort to do research on interest rates and checking accounts could prove to be greatly beneficial when it comes to locking in the highest possible rates. Remember that this income will be taxed at the end of the year but by compounding interest rates of 5% or more it could prove to be greatly beneficial when it comes to building wealth over time.
Author: Heather Best
Tags: ally bank checking account > community bank checking accout > community bank savings account > high yield checking account > high yield savings account > suntrust checking account
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