Simple Debt-Free Finance

Look no further than Rate Brain.

Let’s face it, interest rates on savings accounts, CDs and checking accounts are near historic (if not historic) lows. With interest rates so low, it’s almost not worth the inconvenience of keeping your money in a bank instead of under the mattress. Almost.

There are a lot of great deals to be had on CDs and checking accounts, but the best have strings attached. For example, a high yielding CD is likely to be a 5-year maturity, in which case you run the risk of locking your money up at today’s low rates and missing the bandwagon should rates begin to rise before your CD matures. In the case of high yielding checking accounts, you often have to have direct deposit on the account, or make a certain number of purchases on your debit card per month to qualify for the high rate.

But with sites like Rate Brain, you can peruse hundreds of banks for the highest rates, and the terms that suit your situation. All results are available nationwide and federally insured by the FDIC.

There database is updated daily, so you can always get the latest rates.

You can subscribe to get email alerts on the 5 highest rates of the day, or on a specific bank or CD. There’s also a cool past rate graph option, so you can get a visual indication of the direction of the rates, and the speed at which they’re heading in that direction. This could be helpful in avoiding banks that lower rates too frequently.

The results page shows the bank name, type, and current rate as well as the trend – whether it’s above or below yesterday’s rate, and what that rate was. This is helpful to get a quick idea of whether the bank raises or lowers its rates in small or large increments.

The results link directly to the page describing the offer on the bank site, so there’s no run around to some affiliate site.

If you’re looking for a quick and easy way to check the latest rates, and keep aware of changes check them out. Hey, it’s free so why not?!

• Pay your bills using Electric Orange Bill Pay and you could win $1,000
• Person2Person Payment at ING Direct
• Where Should You Keep Your Emergency Fund?
• New Debit Card Fees Got You Angry? Switch to a Local Bank.

• Stashing Your Cash
• What Are the Advantages of Investing In A 401k?
• Leveraged Finance Defined
• Discover Bank Review