Best Checking Accounts in California
June 10th, 2009 Posted in Checking Accounts
If you live on the west coast, particularly California, then you have a few decent options available as far as interest checking accounts are concerned. In most cases high interest checking accounts come with monthly requirements which need to be fulfilled before you can earn your advertised interest rate, however, there are a few banks/credit unions in the southern California area which offer these products without the traditional requirements.
High Interest Checking in California
(Southern California)
State Farm Bank FSB: 1.55% APY
- Minimum opening deposit is $100
- Minimum balance to earn interest is $2,500
- FDIC insured
- 24-hour account access via phone and Internet
- Initial package of 50 blue Specialty checks free
- Overdraft protection available if you have a State Farm Bank Savings Account, Money Market Account, or State Farm Bank Visa®
- All account holders must be at least age 13 and one person named on the account must be at least age 18
- Interest compounded daily and credited to your account monthly
La Jolla Bank FSB: 1.74% APY on balances greater than $20,000 (1.50% APY on balances below)
- Minimum deposit amount: $1,000
- Variable interest rate
- Interest will be credited to your account monthly on your cycle date
- They use the daily method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- There are no minimum balance or monthly fees associated with this account
- First batch of checks are free
Baxter Credit Union: “Power Savings Account” 3.50% APY
- See Interest Checking Accounts to review requirements
June 10th, 2009 at 12:01 pm
Wow that Power Savings Account at Baxter CU sure sounds like a good deal. I hope these are not teaser rates. These days even rewards checking accounts are getting slammed with interest rates falling to one/two percentage points above the avg checking APY..
June 15th, 2009 at 10:13 am
The LaJolla Bank FSB is a good recommendation. They often have competitive rates.