GOBankingRates tackles personal finance at both the local and national level. When it comes to opening a savings account or certificate of deposit (CD) account, it can be challenging comparing interest rates in your hometown.
Using GOBankingRates’ rate table search tool you can explore local rates nationwide, including Omaha, Neb.
Why Choose a Local Bank?
Local banks tend to offer competitive products and services, and better customer service compared to national or online banks. Local banks and financial institutions can also provide better interest rates and lower or no monthly fees. Meanwhile by banking locally, you are helping support your local economy.
Finding a Banking Account for Your Needs
The interest rate you receive on your savings account, home loan and vehicle loan can have a huge impact on your finances. When saving money, you want your interest rates to be high. While a savings account can help you grow your money, CDs generally have higher interest rates. The downside to a CD however, is in the fact that you cannot access your money during the term of your account without risking high penalty fees.
Understanding Loan Interest Rates
With loans, you want to strive for the lowest interest rate possible. Interest rates on loans can be determined by a variety of factors, including the current state of the economy, the terms of the loan, your history with the lender and your credit score.
The higher your credit score, the more likely you are to receive a lower interest rate. If your credit score is low, GOBankingRates can help you learn how to better manage your financial accounts. With expert advice, articles and tips, you can start building your credit score.