There is a bit more welcome competition for your savings accounts. For years, ING Direct has been offering a savings account that offers a very good interest rate with no fees. Now, ICICI Bank, a large Indian bank is also offering CDIC-insured high interest savings accounts. Set up an account with any of the following banks and start saving money:
ING Direct: 2.40%
American Express: 2.40%
ICICI Bank: 2.75%