Obtain the highest interest rates on a deposit by using online tools to compare rates from different banks, focusing on long-term accounts such as CDs, and researching alternative banking institutions. It may also be possible to speak with a banking agent in-person to negotiate the higher interest rates depending on the size and term of the deposit.
Research is an important aspect of finding the highest interest rates on savings deposit accounts, as each financial institution offers different account types and rates across different regions and times of the year. Sites such as NerdWallet.com and Bankrate.com offer tools that allow you to specify the type of account and deposit amount to compare interest rates as of 2015. It may be helpful to compare account types within an institution, as well as compare the same account across multiple institutions to identify the highest interest rates and the most robust selection of benefits, including low penalty fees for early withdrawals.
Certificate of Deposit accounts also typically carry the highest interest rates, as they require you to make one initial deposit that you may not withdraw for a period of time ranging from a few months to multiple years. You should also look into the savings options from online banks, which also frequently offer higher interest rates in exchange for the lack of physical branch locations. Many banks also offer higher interest rates on fixed deposit accounts when you deposit a larger amount.