What Banks Have the Best Interest Rates?


Quick Answer

As of 2015, several banks with the highest interest rates include GE Capital Bank, MySavingsDirect, iGoBanking.com and Barclays Bank Delaware, according to U.S. News Money. To anyone looking for a high-interest savings account, Ally Bank, Bank 5 Connect and Synchrony Bank are recommended as well.

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Full Answer

The idea of high interest rates on checking and savings accounts is usually good, but it's important to evaluate different options prior to making a decision. Things to take into account include the reputation of an institution, restrictions on access to money, potential fees and Federal Deposit Insurance Corporation (FDIC) coverage. Online banks often offer the best rates because they don't maintain an expansive branch system, as stated by Forbes.

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