The Interest Bank Find the Highest Interest Rates

Welcome to the Interest Bank site, where you can find the highest interest rates around and get financial news to help improve your financial future.  This site will be updated on a regular bases with financial information regarding:

• Interest Accounts
• Interest CD Rates
• Monthly Interest Forecasting
• High Interest Savings
• Interest Charts
• Current Interest Rates
• Interest Yields 

What Is An Interest Account - An interest accountis an account that accrues money on an interest schedule.  An interest schedule can be -- daily, monthly, yearly.  An interest account can be in the form of a saving account, checking account, money market account, CD - Certificated of Deposit, or Bonds.

Typically, an interest savings account or an interest account with less risk will accrue less interest.   Meaning the interest rate will be lower than another interest accountwith some risk.  Also interest accounts with restrictions have higher interest rates because of the limitations imposed on the account.

Below we will be looking at 3 (three) banks and their Interest rates. The three banks will be TD Bank, Bank Of America, and ING.

TD Bank Interest On Savings Accounts as of 6/17/09

• Premier Savings Account Interest Rates ($25K - $99K) = .35%
• Premier Savings Account Interest Rates ($100K - $249K) = .75%
• Premier Savings Account Interest Rates ($250K and up) = .75%

Bank of America Interest Rates For Savings Accounts as of 6/17/09

• Regular Savings Account Interest Rates = .10%

ING Interest Rates For Savings Accounts as of 6/17/09

• Orange Savings Account Interest Rates = 1.5%

As you can see, ING is currently offering the best interest rates for a savings account. If you opened an ING savings account with a principle balance of $10,000 you will make $12.50 per/month in interest. If you roll the interest back into the account (do not withdraw the interest) every month you will receive increased accrued interest.

Again, the 3 banks used for this site are ING, Bank of America, and TD Bank.

TD Bank Interest Rates On Money Market Accounts as of 6/17/09

• Ultra Money Market Plus Account Interest Rates ($25k - $99K) = 1%
• Ultra Money Market Plus Account Interest Rates ($100k - $249K) = 1.3%

Bank Of America Interest Rates for Money Market Accounts as of 6/17/09

• Growth Money Market Account Interest Rates ($50K - $99K) = 1.05%

ING Interest Rates For Money Market Accounts as of 6/17/09

Electric Orange Intrest Rates = 1.65%

Again, ING offers the highest interest rate. ING is an online bank with some ING cafes but no branches. Because of the structure of ING, it is common for them to offer higher interest rates on common bank products.

 We are still discussing the same 3 (three) banks -- ING, Bank of America, and TD Bank.

TD Bank Interest Rates On CD's as of 6/17/09

• Three Year CD Interest Rates = 2.25%
• Four Year CD Interest Rates = 2.75%
• Five Year CD Interest Rates = 3.00%

Bank of America Interest Rates On CD's as of 6/17/09

• High Yield CD Interest Rates (12 months) = 1.65%

ING Interest Rates On CD's as of 6/17/09

• Orange CD Interest Rates (12 months) = 1.50%

As you can see, it's best to shop around for the best interest rate at the time.  Managing your finances can be tricky if you are not informed.

Let your money work for you with High Yield Interest Rate products.   The historical interest theory is "the higher the interest rate the more money you can make off of your own money".  Here is an example: Using TD Bank 5 year CD.

If you invested $15.000 dollars (principle amount) into TD Bank 5 year CD at 3% interest (interest rate), at the end (your maturity date) you will have earned $2250 dollars (maturity amount). 

Interest formula -- principle amount (x) interest rate (x) duration = maturity amount.

The historical interest rates have been falling over the past few years mainly because of the economy crises.  Whenever, the Feds (Federal Government) cuts interest rates it has a far reaching effect.  When the Feds cuts rates mortgage loans usually become more affordable, but bank interest (interest rates paid to your by the bank) usually decreases. 

Not long ago, I remember getting 4.9 % interest on a money market account from ING.  That same account current interest rate is 1.65%