It’s easy to compare savings rates from different banks and credit unions if you go online. There are many sites that specialize in delivering news regarding savings rates to consumers. You can find the best rates if you do a little research.

Analyze the APY
When you’re looking online, be sure to analyze interest rates as well as the Annual Percentage Yield.  The APY calculates your interest rate and includes the compounding effect. It’s basically the same thing as the APR, except the APR is used for loans.

Also, you should only compare interest rates at reputable sites. Many sites are sponsored by financial institutions that have a stake in displaying their interest rates most prominently. Be sure to find an objective website. You can often detect sponsored sites, because certain interest rates are highlighted and there’s advertising copy displayed next to bank icons.

Do Extra Research
You can also find other information about savings accounts online. Balance minimums, account fees, and special benefits will all show up on most websites. This way, you can find exactly the right account for you.

Look for money market accounts as well as savings accounts. Money market accounts often have a higher interest rate than savings accounts. Some websites include money market accounts in the same page as savings accounts. This way you can compare account minimums and interest rates.
If you employ a comprehensive research strategy when you’re looking for the best rates, you’ll probably find them.