Although the high-interest rate is not usual in traditional bank accounts, it is a feature offered in many online bank accounts. Here's a list of the best high-yield checking accounts in the market!
Bank accounts are not known for their interest rates. However, there currently is an impressive number of online banks that grant high-yield checking accounts.
Take a look at this list of the best high-yield checking accounts and learn more about your options:
- Citi-Elevate checking: This online checking account is the star of high-yield checking accounts. It also offers various features like no monthly fees with a minimum balance, no minimum required to open the account and other several online banking tools. The yield in this account is of 0.20% APY on balances up to $9,999; 0.4% for balances larger than $10,000 and up to $24,999; and 1.01% on those above $25,000.
- Varo Bank Account: This bank has one of the highest savings account yields on the market, as it can reach 2.80% APY in savings accounts balance up to $10,000 linked to Varo Bank. It doesn't count with a minimum deposit or ongoing balance requirement.
- Signature Federal Credit Union high-yield checking: If you meet your monthly qualifying activity requirement, you can earn 3% APY on account balances up to $20,000. Bear in mind that balances above this amount have lower yields.
- FNBO Direct online checking account: This account pays high yield (0.65%) on all balances over $0.01. It requires a minimum deposit of $1. One of the downsides of this account is that it counts with heavy overdraft fees.
- Radius Bank Rewards Checking: This account offers a 1% cashback reward on online debit card transactions, besides regular interest yields up to 0.15% APY for high-balance accounts.