The holidays are coming up quickly and it’s imperative your finances can withstand all the expenses that go along with this time of year. If you’re not sure you can handle the extra expenses, it’s a good idea to take advantage of the best California savings rates available today so you can build a safety net of extra cash for 2012.

Everyone has a preference when it comes to where they like to bank. Some prefer the convenience of national chains, while others may actually belong to a credit union. A growing number of local residents happen to prefer the smaller, community-oriented California banks.

When looking around for a new local savings or CD account, you probably search for the highest California interest rate as a way to determine which account is best. While interest rates are extremely important, the CD or savings account with the very highest rate near you isn’t the only good option.

Are you ready for the upcoming holiday season? It’s getting closer, which means you’re spending will most likely begin to increase too. Put a stop to a mound of debt next year by ramping up your savings now. You can do this most easily by securing a savings account with a competitive rate. So where can you find the best savings rates in California today?

Have you been saving money this summer? If you’ve been spending more on vacations and shopping this season than you care to admit, there’s no reason you can’t get your finances back on track today. There are many banks and credit unions in California offering great savings accounts that will maximize your deposits. Below are the best California savings account rates today.

If you’ve been looking for a new bank to open an account or apply for a loan, you should also consider your neighborhood credit union. California credit unions have some of the best interest rates to offer these days. California Banking Rates has compiled a list of the average and highest interest rates from the 308 credit unions within California to help you locate the best offers near you.

Whether you’re looking for a simple savings account or longer-term commitment like a certificate of deposit, the interest rate it earns is very important. The best rates depend on where you live, as some locales have higher rates that others. That’s why knowing the average interest rates in your home town, like the average California interest rates, will help you determine which banks and credit unions near you have the best offers on deposit accounts.

When looking for the best savings account rates, it’s important to know more than just the highest interest rate in the city. Even a savings rate isn’t the highest one, it can still be an excellent rate that will help your balance grow. Therefore, you should regularly check up on the average California savings rate to get a benchmark for comparing accounts. If you find an offer that beats the city average, you have found a competitive interest rate for your area.

Sales tax cuts of 1% will literally have you saving a penny for every dollar you spend, resulting in much elation for California residents. Additionally, annual vehicle license costs will also drop 43%. Taxes were part of an emergency increase passed by Sacramento in 2009 in response to a large budget deficit. It has since been allowed to expire.

If you’re not currently earning a competitive rate on your savings, you’re basically wasting money. As we head into July, let’s examine current savings rate trends in California and find out where the best rates are today.

Current Savings Account Interest Rates in California

In order to better understand current savings rate trends in your area, here’s a breakdown of interest rates presently available: