text: Where to Find Savings Account Interest Rates Your Bank Can't Touch - AOL Finance
  According to DepositAccounts.com, June marked the second straight month of increases in the average rate of Internet savings accounts. Intense competition for deposits has big names such as ING and Ally pitching higher returns.Why Banks Are Backing Off
  Meanwhile, ratings agency Moody's last month downgraded its credit assessments of 15 of the world's largest banks. Five American banks were targeted: Citigroup (C), Bank of America (BAC), Morgan Stanley (MS), Goldman Sachs (GS), and -- surprise! -- JPMorgan Chase. Bad loans, poor investments, European worries, interest rate woes, and related worries factor into how creditworthy a bank is deemed to be.The Internet to the Rescue ... Sort Of
  Why have a savings account at all in this environment? Liquidity. Cash can be transferred between accounts with a few clicks or withdrawn any time of the day or night at most automated teller machines.Three of Better Deals Right Now
  For those who insist on having that flexibility but who also don't want to give too much away to the inflation monster, here's a closer look at three of the best deals identified by DepositAccounts.com.Ally Bank Online Savings. Pays a rate of 0.84% as of this writing -- rates vary according to market conditions -- and requires no minimum deposit to open. Nor are there any monthly maintenance fees and interest is compounded daily. The downside? As with all online banks, your best bet for building a balance is to electronically transfer funds from an external checking account.ING Direct Orange Savings. Pays 0.80% as of this writing with interest accrued daily and compounded and credited monthly. ING also demands no minimum balance, though deposits are subject to a five-day hold before funds can be withdrawn. The initial account deposit remains on hold for 10 days. As with Ally, ING prefers savers use an external checking account for electronic deposits and withdrawals.SmartyPig Savings Account. Pays 1.00% annually as of this writing. SmartyPig isn't typical in that the name refers to a program rather than a bank. BBVA Compass is the financier behind the account. SmartyPig itself is a system that rewards automatic saving toward specific goals. Retail partnerships provide cash back bonuses for trading in savings for gift cards.
  BACK TO SLIDE Motley Fool contributor Tim did not own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and past columns. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Citigroup. Motley Fool newsletter services have recommended buying shares of Goldman Sachs.