Across the nation, the interest rate for a simple savings account is around a half a percent. But some Internet only banks are offering much higher rates. ING Direct is offering 2.3% on savings accounts, and Emigrantdirect.com is offering 3% for a simple savings account. Better yet, there are no fees or games invovled. Your account will also be insured up to $100,000 by the FDIC. This is great for a rainy day account!