These types of accounts often earn more than traditional savings accounts: High-yield savings account Certificate of deposit account Money market account Even among these types of accounts, you will find a wide range of interest rates offered. Generally, the highest interest rates are found at credit unions and online-only banks. Some banks and credit unions offer tiered interest rates. For example, you might earn a relatively high rate on your first $1,000, and then a smaller rate on the amount above that. Or your bank might pay a modest rate on the first $25,000 and a higher rate on the amount above that. Beginner savers will definitely do better with the first type of account. Once you start building your savings, you can use an online savings calculator to figure out where you'll earn more.