Michigan Drive – also known as the Magnificent Mile – is home to several bank branch offices, all of them offering checking accounts and savings accounts. But which one offers free checking accounts? Which one offers the best savings interest rates? Chicago Banking Rates will help you find the answer.

About 70% of the entire United States economy is made up of consumer spending, according to the New York Times.

There is nothing better than being able to buy what you want, when you want it, and also getting a great deal. Now more and more people are going online to do most of their shopping – not just for the convenience but also because online is where you can find better deals. And in this hard economic time, shopping online is even more attractive than ever because it allows you put additional money in your savings account.

Generally speaking, people want to save money but don’t think about the little ways in which they and save. For instance, 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).

When you choose a Chicago savings account, you want to find a bank that will best meet your savings account needs, whether it’s low fees, high interest rates, or whatever you require. Many Chicago banks require you to keep a certain balance to earn the quoted APY and to avoid fees. Chicago banks requiring a higher minimum balance typically offer larger interest rates.

At Chicago Banking Rates, you can compare checking and savings account rates in Chicago. Our data is always current and up-to-date to ensure that you get the best rates in Chicago.

As you make this decision to choose a Chicago bank, we can also help you:

If you need to get serious about saving, it’s best to take a proactive approach and let your bank account deduct into your savings for you. One of the best ways to grow your savings in Chicago, beyond getting the best interest rates from your bank, is to set-up an automatic savings plan. You can work with your bank to automatically take any amount from a checking account or a pay check that is direct deposited or from other accounts and add to your savings account each month. This way, you know your savings account is growing every month no matter what with the automatic amount plus the interest payments from your bank based on the bank rate.