Earn more on your savings

A one-year bank CD is paying an average of 1 measly percent, and interest on checking accounts is hardly more interesting.

Want to earn more on your money, safely? Try these tips:

Compare rates online. Websites such as bankrate.com and depositaccounts.com let you find the best rates for savings accounts and CDs and then apply online.

Check Web-based banks. Federally insured online banks such as Ally Bank (ally.com), ING Direct (ingdirect.com) and Discover Bank (discoverbank.com) often pay more on CDs than brick-and-mortar institutions. Recently, Ally's two-year CD offered nearly double the national average, with a one-time rate increase if Ally's rates rise during the CD's term.

Beef up your accounts. Some banks offer higher yields to bigger savers. Bank of America's Growth Money Market Savings recently paid 0.15% on balances of less than $10,000 but 0.5% on accounts of $50,000 to $500,000.

Lock in a longer-term CD. You could earn nearly 3% on a five-year CD (a six-month CD may earn 0.15%). But watch for stiff penalties for early withdrawal.

Don't forget about checking. Many community banks and credit unions offer free, high-interest rewards checking accounts. Visit Checkingfinder.com for a state-by-state list and compare.