As of 2015, the average savings account rate is 0.17 percent, according to U.S. News and World Reports. However, consumers who shop around are often able to find opportunities to earn more on their savings.
Online banks tend to offer a higher interest rate, U.S. News and World Reports states. GE Capital Bank and MySavingsDirect offer 1.05 percent interest. Many online banks have a low or no minimum opening amount for a savings account, but there may be monthly service fees or no interest earned if the account balance falls below a minimum level. Once established as an existing customer, consumers may find the bank offers other ways to save including high-interest certificates of deposit.