How to Grow the Interest on Your Savings?

Investing Guides

Last Updated: January 5, 2023

How to Grow the Interest on Your Savings?

If you have some extra savings set aside, there is a way to utilize them and make more. There are plenty of options allowing you to grow the interest on your savings.

Don’t let your assets sit idle — put them to work.

Here’s what you can do to make more from your savings.

1. Bank bonuses

If you want to earn interest on your savings very easily take advantage of bonuses offered by the bank. Some banks offer bonuses for new customers signing up for an account.

There usually are some requirements you’d have to meet, usually — making a certain number of transactions each statement period for a checking account or transferring a certain amount of money to an account, and keeping it there for a certain amount of time for a savings account.

If you have some savings already set aside, this is an easy way to earn more by barely doing anything.

Please make sure to read before you sign — some banks charge a fee if you don’t meet some of the requirements or if you close the account too soon.

2. Certificate of deposits (CD)

Certificates of deposits are a good way to earn good interest, however, they allow less flexibility to withdraw the money.

To put money in a CD, you’d have to leave the funds in the account for a set time period (one year CD requires keeping the money for a full year) and you can’t withdraw it unless you pay a fine.

CDs are a good way to earn a stable interest rate — when you sign on a CD, you lock in the interest rate, so you’ll be certain about what you’ll earn even if market rates drop.

3. CD ladder

CD ladder is a way to invest in CDs and still have some flexibility of withdrawing your funds. CD ladder building includes opening a number of CDs each having a different lock-up period — you could open 12 different CDs that would unlock each month.

This way you would get stable and pretty high interest rates but would still be able to access some of your money in case you need it.

4. Credit union

How credit unions differ from banks is that they center around the people holding accounts at the credit union. They own the credit union.

So, it’d only be logical that they would work in order to benefit the account holders and not the shareholders.

Usually, credit unions offer lower fees and higher interest rates. If you are interested in this investment option — make sure to check for credit unions around you.

5. Bonds

If you don’t mind taking a little risk, then buying bonds might be the right option for you.

You could understand bonds as making a loan to a company — when the bond period ends, you get what you loaned plus the interest you’ve made.

There are many different bonds — you can buy bonds from the government or a major company, and you can buy bonds with different interest rates and bond periods.

Bonds with a higher risk or longer-term bonds tend to offer higher interest rates. However, these are only traditional finance investment options. There are plenty of ways to grow your savings offered by DeFi.


HODL is a strategy for buying and holding cryptocurrencies. It’s one of the easiest ways to earn from the crypto world — buy some crypto, Bitcoin, for example, and sell it when you think the token price is high enough for you.

The name HODL itself doesn’t come from an acronym of some type of financial procedure, it originated in 2013 when a typo of the word “hold” became a meme in the crypto world. Now, the crypto community uses HODL as their slogan "Hold On For Dear Life".

However, HODL doesn’t come without its drawbacks — while it is the easiest way to earn benefits, it might not be the smartest. It directly relies on the value of the crypto token which is not really predictable.

7. Borrowing and lending crypto (liquidity pools)

Liquidity pools are an important part of the crypto ecosystem. It’s a process when liquidity providers (people who invest) put their crypto coins in a pool. The tokens inside the pool are used for exchanges, loans, and other purposes by other users who pay fees for using these tokens. The fees are later distributed among liquidity providers as interest.

Liquidity pools are a great way to earn passive income in crypto because they usually offer significantly high interest rates and don’t require doing much.

8. Staking

Another way of investing in crypto, pretty similar to liquidity pools, is staking. Staking is a way to put your crypto to work — lock up your assets for a required time period and earn interest for it. Just like with traditional saving, the longer you stake your token, the more you earn.

9. Yield farming

Yield farming is a more complex investment strategy that combines liquidity pools and staking. Yield farmers hop from investment option to investment option to get the highest possible interest.


Bitlocus offers a way for you to take advantage of high DeFi interest rates but in a smooth and headache-free way.

No need to go through the regular hassle related to crypto — earn decent interest rates with the Bitlocus platform.

And, with the Bitlocus Loyalty Program, you can earn interest even higher than standard.

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