If you've got money to put in the bank, you could make a profit on it.

The savings rate among Americans has seen a hefty increase in recent months. That’s bad news for retail stores, but it gets banks and credit unions excited. They are excited about the question “How do we get people to save their money HERE?”

Banks are offering some great interest rates and bonuses on new accounts, so if you pick the right one you could really make your savings add up.

Big savings, big earnings

The savings rate is at a 14-year high, at about 5 percent. Banks are pushing the interest earned on checking and savings accounts to double normal rates. Many are offering 6 percent interest if you meet certain qualifications.

Several banks are offering 5.5 to 6 percent interest on regular, active checking accounts. Southern Missouri Bank and First Robinson Savings Bank are a couple of the bigger ones. Check out this article to find out more.

Well-known banks offer new perks

Some banks are even offering cash advances to customers in the form of bonuses if you sign up for certain accounts. Citibank is offering a $25 bonus to customers who maintain a savings account of $1,000 for three months. Wachovia is offering $25 to any customers who refer new customers. The new customer gets $25 as well.

The best deal appears to be through Compass Bank or M&T Bank. Simply open a checking account with at least $100, set up direct deposit and opt out of paper statements. Just for that, you can get $100.

Online banking brings in bucks

Online-only bank accounts are also offering higher-than normal interest rates. They aren’t as high as the brick-and-mortar banks, but if you don’t have much cash and prefer online only accounts, check out GMAC Bank and FNBO Direct. Both only require a $1 minimum balance.