What is a good interest rate on a savings account?

I want to start up a savings account of some form, but I'm not sure how or what to look for. A high interest rate is something important, but I don't know what a high interest rate is. Is there anything else I need to look for in a savings account?|||You sent me the same question for an answer through e-mail! The question itself drew me to your profile here at Y! Answers. I can make out that your question is related in a different country than mine. In my country in India, currently the interests on savings bank accounts are administered and we get 3.5% annual simple rate of interest on daily product basis i.e. considering the lowest of the balance we maintain each day in our savings bank accounts. In the absence of any variations or different product mix for savings accounts, we advice to retain only bare minimum balance in savings accounts to meet just day-to-day needs and put surplus money in better banking products or other investment options for better returns.|||savings account dont usually give u alot of interest. there is something call a CD (certificate of deposit), which works like a savings account but will return alot more interest (some can be as high as 5%) The only catch about CDs is the fact that there is a minimum amount that u have to deposit (this varies for each bank or financial institution) and atleast a minimum of 3 months to keep ur funds in there, untouched. The longer the minimum time required is the higher rate offered. Look into that if u feel like 1% returns is nothing to u.








check me out at blog.greensherpa.com|||The most you will find for a savings account is less then 1%


some online banks are offering 1.5%