Interest Checking

Compare the best interest checking accounts below. If you can not find an account near you, type in your state in our search box (upper right) to find your best local rates.

If you believe these rates are inaccurate or if you know of a better rate than the ones listed, please contact us and we will adjust our tables accordingly.

High Interest Checking Accounts

Rank	Name of Bank	Rate	Headquarters	Max. Deposit
1	Bank of the Sierra	4.09	California	$25,000
2	Consumers Credit Union	4.09	Illinois	$25,000
3	ReliaBank Dakota	4.07	North Dakota	$25,000
4	First New England Federal Credit Union	4.03	Massachusetts	$15,000
5	First National Community Bank	4.02	Pennsylvania	$25,000
6	Danvers Bank	4.01	Massachusetts	$25,000
7	First Bank and Trust	4.01	Minnesota	$25,000
8	Capital Bank	4.01	North Carolina	$25,000
9	First Security Bank and Trust	4.01	Iowa	$25,000
10	ViewPoint Bank	4.01	Texas	$25,000

Compare the above rates with the following 12 month CD rates. Keep in mind the following CD rates are available nationwide, whereas the “Interest Checking Accounts” above have geographical restrictions.

Best 12 month CD rates

Bank Rank	Name of Bank	Investment Type	Duration	RATE	Compounded:	Min. Deposit
1	NewDominionDirect	Bank CD	12 mo	1.72	Daily	$3000
2	Ascencia Bank	Bank CD	12 mo	1.71	Monthly	$500
3	Discover Bank	Bank CD	12 mo	1.70	Daily	$2,500
4	Colorado Federal Savings	Bank CD	12 mo	1.70	Daily	$5000
5	State Bank of India	Bank CD	12 mo	1.70	Quarterly	$5000

Traditionally the highest APY earned on FDIC insured investments have come in the form of CD’s (certificates of deposit). However, since CD rates have been declining, other FDIC insured investments have come on the scene with much more enticing rates.

Interest checking accounts (sometimes called Rewards Checking Accounts) can be found in hundreds of locations throughout the country. They typically come with a phenomenal interest rate (between 3% and 6% APY) which can generally be earned balances up to a certain amount (typically $25k - $50k). They work similarly to money market accounts by providing easy access to your money while earning optimal interest rates on your overall balance.

They do, however, come with a few strings attached. The strings are almost the same with every bank and/or credit union. First, you must make a certain amount of transactions per month using this account’s debit card. This number ranges anywhere from 6 to 15. This is a fairly simple obstacle to overcome if you are willing to swap transactions that would have previously been made from your credit card to this account’s debit card.

Second, you must set up some form of reoccurring ACH transfer or automatic withdraw (typically in the form of a monthly auto payment).

And finally, you must receive E-Statements from the bank.

If you can overcome these 3 requirements on a monthly basis then you will be entitled to earn the high APY on your balance. You may want to also keep in mind that if you do not meet these requirements in any given month your interest rate will drop significantly (usually to 0.25 - 0.75% APY).

Looking for a New Checking Account? Get some helpful checking account tips! Learn how to link your free interest checking account to your standard checking account.