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If you're looking for an online savings account, you're not alone. A lot of people are moving toward these accounts today, instead of the traditional accounts that brick-and-mortar banks offer. That's because online savings account rates are usually higher than those of more standard banks. That isn't always true, but it's proving to be the case most of the time. When you're trying to decide which online savings account to pick, look at more than the interest rate. Are there any fees you'll have to pay.
Online savings account rates that are high but that get essentially canceled out because of fees aren't doing anyone any good. Don't let that happen to you. Choose an online savings account that offers a good interest rate and that's free. Yes, they're out there. Finding them is worth the time it takes, since they can really help you earn a lot of money over time. Also, make sure you're getting an online savings account through an FDIC-insured bank. Great online savings account rates won't do you any good if the bank folds up and takes your money with it.