Many people don’t really think about the interest on their savings and checking account, but there are many high interest options for these accounts both online, and more than likely, in your community. There are countless banks outside of the big financial institutions that are offering better rates on checking and savings accounts, so you might want to take the time to seek them out.
Online banks typically offer better rates in checking and savings accounts and there is no shortage of online financial institutions. Many people worry about online banks and feel they are not secure, but online banks are not only backed by the FDIC, they also are very highly secured against any online attacker.
Also, checking in your local area may bring some surprising results as well. Many small or community banks are able to offer higher rate on checking and savings accounts because they don’t have shareholders to worry about and they simply want the business they may be losing to big banks.
A savings and checking account can be valuable to your personal finances, so you may want to look at your current interest rate on your accounts and see if you can get a better deal somewhere else. At the very least, you may switch banks and actually profit from doing so.