← Online vs. Traditional Savings: Which Account Has Your Best ‘Interests’ in Mind?

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By Anslem Samuel | Published April 12, 2011 | Full size is 620 × 434 pixels

INTEREST RATES Online Savings Since overhead is low, interest rates tend to hover well above the national average of 15%. HSBC, American Express and Ally Bank are some of the institutions offering high-yielding accounts without fees or a minimum balance. Traditional Savings Depending on the bank and the type of account, you may be more likely to get stuck with an interest rate closer to the national average. Higher rates tend to be available for a minimum required initial deposit, or a required monthly balance, which can make it difficult to optimize savings for those just starting out.

INTEREST RATES Online Savings Since overhead is low, interest rates tend to hover well…

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