From Get Rich Slowly – High Interest: How to Choose Between Checking, Savings, and CDs

In a rocky economy, high interest rates are the holy grail of conservative investors, especially those who don’t want to to invest in bonds. But in this rocky economy, “high interest” hasn’t really meant much: High-interest savings accounts are returning below two percent! Get Rich Slowly readers are just like everybody else. A couple of times a week, I get e-mail from somebody looking for higher interest rates, but puzzled about where to find them. So, inspired by a recent article in Consumer Reports Money Adviser, I’m going to run down the top choices for finding high interest rates. First, I want to remind you all of one thing: Interest rates aren’t likely to rise until the economy improves. ING Direct doesn’t hate you. Ally Bank isn’t trying to rip you off. We’re just not in a high-interest rate environment right now. The government is keeping rates low because they don’t want you to save — they [...]