Five Tips for Nabbing the Best Bank Rates

Banks are eager to take your money but are also being very careful about how they do business. Major lenders are generally not considering anyone with a FICO score below 620, according to Ryan. If you have a weak credit score, you might still be able to get a loan with your existing bank, but you'll have fewer bargaining chips.

Even those with strong credit scores shouldn't expect something out of the realm of reality.

"Be willing to accept the fact that you're not going to get exactly what you want," says Bruce McClary, spokesman for Clearpoint Financial Solutions. But with the right information and negotiating skills, "you're going to get close."

4. Negotiate

Keep in mind that nothing is set in stone. Once you've shopped around and decided on a bank to negotiate with, arm yourself with competing offers. Gather up all the print-outs, brochures and quotes you've collected and use them to your advantage.

If the bank representative offers you a loan at 8% interest, but the bank's Web site offers 7.25%, pull out the printed proof. Better yet, if the bank down the block offers 6%, pull out the competing brochure. Keep in mind that those are teaser rates, so you might not get a full point knocked off, but the threat of taking your business elsewhere has some sway.

"The customer is in the driver's seat," says McClary. "Just because they have a rate listed or published -- you never really know until you ask."