Not all have unfavorable terms. My credit union, Northeast Credit Union, offers an account with a 4.00% APY plus divident rate of 0.50%. The requirements are plainly stated: "member must have an open checking account or open a checking account to be eligible for a Silver Lining Savings Account." Minimum opening balance: $5.00. These variable rates may change after the account is opened. The only fee listed is an Inactive Fee of $3 "charged on a share account starting the 13th month of inactivity and continuing until there is no balance or money is escheated to the state". however, "This fee does not apply to members under 18, members with loans or IRA's or any member with aggregated deposits over $200." I couldnt find any reason not to open the account. But I am aware that the rate only applies to the first $500 on deposit. It's a nice way to gain a little interest on money I would put away for emergencies anyway.