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Home >> Accounts >> Savings Accounts
Negotiating a Savings Account Rate
Are banks ever willing to renegotiate higher interest rates for savings accounts, if other competing banks offer higher rates? Is so, how do I go about negotiating new rates?
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 It would be presumptuous to make a general statement on behalf of all banks, but many banks do, in fact, adjust rates on time deposits (certificates of deposit), when circumstances warrant it. Rate negotiation on savings accounts is not something that is done, however.
Of course you are able to select the best combination of rate, fees and customer service from those available in your area, and, in the case of some banks accepting deposits over the internet, outside your area. Assure yourself that you are dealing with a bank or credit union that is federally insured, and get information on competing offerings before deciding where to place your funds.
Published on BankingQuestions.com 10/21/08
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