It never fails: Online bank savings account rates always beat out those at traditional brick-and-mortar banks. This time, it’s HSBC Bank USA, N.A. that is offering the best savings rate. The HSBCAdvance Online Savings Account is now providing customers with a 1.10% APY.

In order to earn the best savings rate, you only need $1 to start and you don’t even have to open a checking account with HSBC. There are no monthly fees and no minimum balance requirements. Of course, the more you save, the more you earn.

In an effort to improve the online banking experience for customers, Arvest Bank has upgraded to a new system as of July 25, 2010. It not only improves the overall look, navigation speed and ease of use of Arvest online banking, but also adds several new features never before offered to Arvest Bank customers.

New Arvest Bank Online Features

When you’re having trouble finding a high savings interest rate, try looking online instead. The Internet Savings Account from Zions Bank can offer you a much higher interest rate than if you were to open a traditional savings account in a branch. Right now, they are offering one of the best savings rates at 1.11% APY.

The best savings rate is offered to internet savings account holders who maintain a minimum balance of $1,000 and the rate can change after account opening. Fees may reduce earnings. This account includes 24/7 online access and no monthly fee.

Finding the highest CD rates isn’t easy these days, which is why we do the comparison shopping for you. Currently, consumers can earn a two year CD rate of 1.50% APY from FNBO Direct.

There are a few things you must know in order to obtain the advertised CD rate. A minimum deposit of $500 is required and account will automatically renew at maturity. You will have 10 calendar days after the date of maturity to withdraw funds without incurring fees. Early withdrawal from this CD account results in a penalty.

If you have savings set aside in a traditional savings account that barely earns any interest, why not take advantage of best CD rates online instead? Everbank is currently offering one of the highest CD rates of 1.75% APY for a two year CD.

In order to earn the highest CD rates, you must note the following important points: there is a $1,500 minimum opening balance and the account automatically renews at maturity. The APY assumes interest remains on deposit until maturity, there are penalties for early withdrawal and rates are subject to change.

If there were a savings account that offered an interest rate five times higher than average savings accounts rates, you would probably want to open one. Luckily, this account exists! At FNBO Direct, consumers can obtain a savings interest rate of 1.10% APY with the online savings account.

To obtain this savings interest rate, all you need is $1. Additionally, benefits of this online savings account include no monthly fees and no minimum balance. Additionally, you’ll be able to enjoy online banking via their safe and secure network.

Usually, the highest interest rates aren’t found in traditional brick-and-mortar banks. If you want the best CD rates, try an online bank instead. For example, Ally is offering a one year CD rate of 1.50% APY on their High Yield Certificate of Deposit account.

In addition to this excellent CD rate, there are many other benefits associated with this CD account. There is no minimum balance, so you don’t have to worry about months where you are short on funds. There are no monthly fees either, meaning your account will never be charged needlessly. The Ally Bank certificate of deposit is FDIC insured, and your money gains each day as your interest is compounded daily.

Sallie Mae Bank is providing consumers another reason to switch to online banks. They are offering a high interest savings account with a 1.40% APY to help you reach your financial goals sooner.

Earning the best savings rates with the Sallie Mae Online High Yield savings accounts also comes with these additional benefits:

Money magazine called Ally Bank’s online savings account the “best savings account” in May of 2010. One reason is because this bank offers highly competitive savings interest rates, like their savings account rate of 1.29% APY. Other great benefits include:

• Open with $0
• No minimum balance
• No monthly fees

This is a guest article from MoneyNing, a personal finance blog that arms you with the knowledge necessary for a prosperous future.

Online savings accounts are a great money saving tool, but since they may not be for everyone it is important to know who should apply for one. With their higher interest rates and generally lower costs, online savings accounts can really help you to maximize the value of your savings. However, these accounts may not be an ideal choice for people in certain situations. There are a number of different factors to consider when determining who should apply, so let’s take a look.