With hundreds of online banks competing for your business, it can be difficult to find good online banking interest rates. There are a variety of websites which provide updated information about current interest rates. Use these three sites to find good rates for your online accounts.
Bankaholic
Bankaholic has convenient menu tabs that allow you to quickly search for online interest rates for CDs, money market accounts, and savings accounts. Rates are updated daily and the site includes an integrated blog which provides up-to-date financial information. The strength of the site is in its frequency of updating and streamlined interface.
Bankaholic appears to cover less online banks than some other sites, so you may miss good online banking interest rates offered by smaller institutions. Bankaholic does include all major online banks and all of the listed institutions are FDIC insured. The blog on Bankaholic can be a good source of information and personal finance ideas as well.
MoneyRates
MoneyRates features a convenient display window on its home page which lists the best interest rates for a variety of savings accounts. These rates are updated daily and MoneyRates also offers a database-driven interface which allows consumers to sort banks by desired features.
MoneyRates offers interest rates on mortgages and consumer loans in addition to savings rates. As there is slightly less information on mortgage terms and fees than on sites focused exclusively on home loans, MoneyRates works better as an initial start for your loan search rather than the last site you visit.
Bankrate
Bankrate is the largest information site on online banking interest rates. With a deep database covering virtually every internet bank and rates that are updated daily, Bankrate is the best source for comparing online banking accounts. Bankrate includes a detailed search feature that allows consumers to differentiate similar accounts by personalized features.
Note that Bankrate does highlight certain online banks (which appear to be advertisers) in the search results. Be sure to view all the results for any online interest rate search rather than simply selecting the top bank listed. Bankrate also includes tabs for auto loans, credit cards, insurance, and other personal finance tools. While some of these sections are not as complete as the online banking information, Bankrate remains a great choice for information about online accounts.
The market for online banks is large and competitive. These sites can help you decide where to find good online banking interest rates for your new account.