ING Direct is the best thing on the face of the earth in the history of anything.  I've never been more satisfied with an apparent scam in my entire life.  Here's what they offer:  an online savings account with a 3.40% APY; no fees, no minimum balance requirements, no catches.  Seriously.  There's probably some sort of overdraft fee, but I haven't encountered that yet.  But I know from experience that all the other things are true.  And the savings rate has increased 6 times and by 1.05% since the beginning of the year. 

It's a pretty good deal, but it's not like you'll make thousands of dollars in interest.  You'll probably make around $10-$50 per month, depending on how much is in your account.  But when you're too scared to invest in the stock market and want easy access to your savings account, this is the way to go. 

If anyone's interested, I can refer you, and you get $25 and I get $10.  Once again, there's no catch.