Lots of people do not think to check the interest rates on their checking accounts, both when they open it and periodically (remember, banks can change their rates so you should be sure to monitor your account). If you regularly keep a balance in your account, and your Fairbanks bank does not offer a high interest rate, you could be missing out on a great money-making opportunity. You don’t want to be the person that is being left out in the cold while everyone is taking advantage of great rates on their accounts.

When you choose a Fairbanks savings account, you want to find a bank that will best meet your savings needs. Look for a bank that offers the highest interest rates at your minimum balance with the lowest fees. Many Fairbanks banks require you to keep a certain balance to earn the quoted APY and to avoid fees. Banks requiring a higher minimum balance typically offer larger interest rates.

When you’ve found a high interest savings account through Fairbanks Banking Rates, you’ll still need the funds to put in it.

Consider these five ways to save money in Fairbanks so you can take advantage of your savings account interest rates and build your nest egg.