Why are the interests rates for bank accounts in Bradenton ,FL down?

Interest rates are down all over the country because the Federal Reserve has been lowering interest rates for the past several months. Lower interest rates allow people to borrow money cheaply, and hopefully spend more money, which should help the economy grow. However, that also means savings account rates go down as well.

If you are looking for the best savings rates in the country (why limit yourself to one town?), go to www.bankrate.com and do some research. Then pick a bank and open an account online.

I probably wouldn't expect rates to start going back up until late 2008 or early 2009, depending on the economy and inflation, and they may even go down a little bit more before that.

Interest rate vary greatly between banks. If you are not going to use an on line bank, then you can expect an interest rate on a savings account not to be any greater then 3%. You may be able to buy a CD for a better rate but if you are looking for a liquid savings account 3% would be a very good rate in the current market .