Q:

How do you compare bank deposit rates?

A:

Quick Answer

Bankrate.com is one of many financial websites that compare current bank deposit rates for certificates of deposit, savings, checking and money market accounts. Other websites that offer bank deposit rate comparison include NerdWallet.com and BestCashCow.com.

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Full Answer

Bank deposit rates vary based on the type of account (CD, savings or checking), on the type of institution (local bank, national bank or online bank), on the geographical location of the institution and on the amount of the deposit. Bankrate.com, NerdWallet.com and BestCashCow.com allow you to compare the current rates for similar deposits at a range of financial institutions. Bankrate.com and BestCashCow.com provide current national average rates for all the financial institutions that they cover.

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