"WITH A SERIES of Federal Reserve cuts knocking interest rates down to a measly 2% over the past year, there's been little incentive for cash-strapped consumers to be diligent about saving. But recently, things are taking a turn for the better.

Despite increasing uncertainty about the Fed's next rate move, bank yields are on the rise. The current average savings rate is 2.4%, up from 1.6% in April, according to Bankrate.com. But at some banks, consumers can easily earn more than 3.5%, and may even qualify for rates that top 6%."