Of course you need to check the figures for yourself don't go making assumptions as everyone is different. You need to calculate how much paying your credit cards off at the minimum rate will cost you. There are a number of internet based sites that will allow you to put in your figures and will then spit out the answer for you. There s no human person you can hold responsible for a discrepancy in the account. Some people still like the old-fashioned way of banking in which they can interact with human cashiers and tellers. For them, the online banking accounts could be quite uneasy to work with. Though technologically these accounts are quite advanced and secure, there are a lot of people who are still quite apprehensive about their ways of working and would not like to trust them with their money. (ii) The second thing you need to check is the amount that the bank needs you to deposit so that you can open the account. Different financial institutions have different limits here and hence you need to ask them personally or check their written brochures. (iii) Since these are savings accounts, you will need to keep some amount in the bank each month. Play them off against each other. No matter how good their offer sounds always tell them that you will need to think about it. That not only does that make you sound financially responsible but it allows you to go back to other lenders and say hey I've been offered this by ABC Bank can you beat it? Of course if they do tell them you will get back to them and go back to ABC Bank and say I've been offered this by XYZ Bank can you beat it? Since you are going to get your savings here in the form of interests, the concept of high CD rates becomes important. It does not take a lot of genius to understand that if you make Certificates of Deposit with high CD rates, you stand to save an appreciable amount. So, the main question here is how you can get high CD rates. " is one of the most common questions that new investors ask. They know having investments for a better future is a good idea but what they really want answered is "how do I start?". Investing like anything else is a skill which has to be learned and the good news is that there are plenty of opportunities to learn it.