The Savings Trick to Earn 10x Returns

In this economy, earning interest and keeping your excess cash safe is very important. America's biggest banks have been cheating US consumers with ridiculously low interest rates, paying on average .01% interest hoping that you won't notice.

Unlike a checking account, you don't need to access your savings on a day-to-day basis, so choose a bank based on the highest return on your money, rather than the most convenient location. For GoBankingRates readers, our team found a trustworthy bank that pays 10x interest than other banks taking advantage of you. Read more to find out.

Currently, many consumers are frustrated with minuscule interest rates with their bank. According to the FDIC, the average savings account is around .06%. For an account that you access every day, with the constant deposits and withdrawals, interest rates aren't a big factor. However, for consumers with excess cash; people with emergency funds of at least $25,000, it not wise to keep that money in an account with such low interest rates.

For example, if you kept your $25,000 in savings with a traditional Wall Street bank after five years, your account would have only grown $12.50! After tons of research looking for a trustworthy bank with a high interest rate, we found several banks.

For the same exact savings account, at 1.05%, over the same period of time, your account would have grown $1,346.96! Why give that money to Wall Street, when you can be paying yourself now? We totally love banks with high interest rates, and totally encourage any of our readers with to open an account with them.

However, before you make this decision, there are other important points you need to consider before opening a savings account:

Monthly Minimums & Fees

This is really important – major banks charge monthly fees if you don't meet ridiculously high minimum deposits! We're trying to SAVE money, not get rid of it! Some banks have an exceptionally low minimum deposit: just $30! This is much lower than the minimum required at other traditional banks ($300!).


Trust is a big deal, especially in today's day and age. I confirmed that our recommended banks below use the highest levels of encryption and is FDIC insured. That means that the US Government insures your savings up to $250,000!

Customer Experience

We've had nothing but positive experiences with these banks below. They're extremely polite, very attentive, and easy to speak with. Members of our team personally opened an account and noticed that these banks websites are state of the art and easy to use. If you need to withdraw money, online banks have as many ATM options as traditional banks.


As you can see, our recommended banks are the place to keep your excess cash or your emergency fund. You'll be making much more money on your savings (again, high interest rates such as 1.05% instead of 0.01% in most cases). Also, you've got low minimum opening deposit amounts and zero monthly fees! With a great reputation and customer service,we highly recommend opening a new bank account now.

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