Savings account interest rates can vary greatly based on the bank and the nation.
Since they have reduced overhead expenses and can pass those savings on to their consumers, online banks and smaller regional banks often offer the highest interest rates. High interest rates alone, however, are not always the best indicator of a successful savings account; other elements like fees, account minimums, and withdrawal restrictions should also be taken into account. A smart tip is always to check for the most recent interest rate before creating an account because interest rates change over time.