[syl]

The interest my bank is paying is pitiful. I have heard that there are online banks which give a much higher percentage than what I am receiving locally. How does one find a reliable bank like that and how would I get started?

We invested in a Federal Agency step up note<?> which is paying 3+% and it is tied up for 4 years. I understand that some online banks pay higher and it is not locked up for a specific time. We are too old to do long term investing.

Regards, Syl

[manutd4eva]

If you are from the uk try http://www.smile.co.uk/ they give you a good rate. I've seen the adverts but can't remember what the rate is and I can't see it on there site - you have to fill in your details.

Good luck

[Lotta]

See www.bankrate.com for rates.

[Fr_Chuck]

Also, please don't tell how much on here, but the more you have to invest the better yield you can get.

If you have a larger sum, never accept what the bank offers you, negotiate with them, just like you were borrowing money. I never accept what the sign on the bank says it is paying, if I can't get .2 percent higher I would merely drive to the next bank. And sometimes you can get a little more than that.

You did not say how much more than 3 you were getting, there is hardly any bank payinig over 4 right now with my guess that 3.5 is about average.

And always check to see that they are FDIC insured, so that you can't lose your money either.