Best interest checking accounts in California: Top 3

Below are the top 3 interest-bearing checking accounts available to the residents of the state of California.

If you are looking for an FDIC insured investment vehicle which is still providing a decent interest rate, then “high yield checking accounts” or “rewards checking accounts” may be your best bet. Keep in mind these accounts come with monthly requirements which must be fulfilled each month by the consumer in order to earn the lucrative interest rate. If you would like to learn more about interest checking accounts, follow the previous link.

As a general rule of thumb, most of the requirements associated with these accounts involve a certain number of debit card transactions, setting up at least one ACH automatic payment and enrolling in e-statements. They will also only provide the high interest up to a maximum balance which may vary between $10,000 and $100,000, however the majority of these account offers set the max at $25k.

Top 3 interest checking accounts available in California:

(click on the institution for more information)

• Bank of the Sierra: 4.51% APY on balances up to $25,000. This account is available to customers nationwide and has been featured as one of the best interest checking accounts offered throughout the country.
• FAST Federal Credit Union: 4.08% APY on balances up to $25,000. Like most rewards checking accounts, you must complete 10 debit transactions, set up one recurring direct deposit payment and enroll to receive e-statements. This account is available to California residents only.
• Pacific Resource Credit Union: 4.07% APY on balances up to $25,000. This account functions the same as most interest checking accounts, however they call it the “high flying checking account.” This account is also available nationwide even though the branches all reside within the state of California.

Bank of the Sierra’s Interest Checking Account: 4.51% APY

Bank of the Sierra’s interest checking account is still holding strong after many similar accounts have seen either drastic rate drops or increased membership exclusivity. A couple months ago we noted Bank of the Sierra’s high interest checking account and, surprisingly, not only has the rate remained high but it is still available to people throughout the United States.

The Bank of the Sierra was founded in 1977 and has had the same president serve since it’s inception. The physical branch locations reside in Tulare, Kern, Kings and Fresno counties and they claim to be the largest community bank serving California’s heartland.

Their mission statement is somewhat unique in that it gives specific metrics in which they excel:

To be responsible stewards for our shareholders by providing a superior return on equity of 15%+ and a return on average assets of 1%+ within a culture of discipline and ethical entrepreneurship. This is a fundamental stewardship responsibility.

Features of Bank of the Sierra’s High Interest Checking Account:

• Earn 4.51% APY on balances up to $25,000¹*
• Earn 1.01% APY on balances above $25,000 ¹*
• If monthly qualifications are not met, you still earn .12% APY*
• Reimburses up to $25.00 in ATM fees nationwide per statement cycle¹
• Free eStatement every month
• Free Sierra Bill Pay
• Free Sierra Check Card
• No monthly service charge
• Overdraft protection available with a savings account or apply for a line or credit. ²
• Only $50 to open

Qualifications to earn the advertised interest rate:

• Minimum 12 Sierra Check Card purchases per month
• Minimum one direct deposit or automatic payment from your account each month
• Make at least one bill payment online
• Receive eStatements
• Must be opened online

If you have experience with this bank, please share by leaving a comment!

Bank of the Sierra’s Rewards Checking Account: 4.51% APY

These high interest checking deals keep flowing into our submission’s inbox! The latest offer is from the Bank of the Sierra out of California. Currently they have a “Rewards Checking Account” which is yielding a whopping 4.51% APY on all balances up to $25,000 (1.01% APY on balances above $25k).

Bank of the Sierra Interest Checking Account Features:

(as seen on their website)

• Earn 4.51% APY on balances up to $25,000
• Earn 1.01% APY on balances above $25,000
• If monthly qualifications are not met, you still earn .12% APY
• Free eStatement every month
• Free Sierra Bill Pay
• Free Sierra Check Card
• No monthly service charge
• Overdraft protection available with a savings account or apply for a line or credit.
• Only $50 to open

Monthly Requirements to earn the advertised interest rate:

• Minimum 12 Sierra Check Card purchases per month
• Minimum one direct deposit or automatic payment from your account each month
• Make at least one bill payment online
• Receive eStatements
• Must be opened online