Nowadays, ordinary savings accounts don’t give the best yields as they are typically used simply as a cash repository. In most instances, interest rates can be as low as half a percent of one percent. This can mean only a few cents per one hundred dollars saved. While prospects are small, there are good ways to earn back a few dollars more than a typical account.

First of all, not all banks give small yields. It’s always best to do some research beforehand. Even a difference of a quarter of a percentage can mean the difference between one or ten dollars in the future. Many account holders have found that online banking rates are much better since these companies usually have less overhead costs.

The interest rate is one thing, the banking fees is another. Many banks have hidden charges that add up over time and take away a big portion of the account’s earnings. There are new regulations concerning these hidden fees, so it’s not unusual to find a new type of savings account without these needles expenses.

Regardless of whether or not the interest rate is low or high, the account won’t earn any money without regular deposits. A monthly deposit made right after a paycheck receipt is the best way to increase the savings account’s earnings without too much hassle.