The following online checking
accounts come with the highest interest rates among the banks we researched, but they come with slightly different requirements which you should look over before committing to an account.
Not exact matches
These
accounts tend to
come with a
higher interest rate and you also have the ability to write checks.
This week's survey showed money - market
accounts, which are savings
accounts that often pay
higher rates than conventional savings
accounts and
come with limited check writing privileges, are currently paying an average of 0.14 percent
interest.
Though the
interest rates start to get competitive only
with higher - tier checking and savings
accounts, the free
accounts all
come with a generous 24 - hour cushion if you overdraw.
Several other
interest checking
accounts offer
rates that are
higher than this
account's 1.60 % APY, but almost all of them require far more monthly
account activity for those
rates — and none of them
come with the wide range of online services we found at MemoryBank.
While Synchrony doesn't have any checking
accounts available, the savings
accounts come with higher - than - average
interest rates that might
interest people willing to keep their checking
account at a second bank.
Keep in mind, however, that these loans usually
come with higher interest rates than home equity loans and, depending on the amount you borrow, may require collateral on the loan (e.g., your car or bank
account).
If you don't envision a lot of instances where you'd need to regularly access a physical bank branch away from home, a smaller community bank, like Dime Community Bank, or a credit union could be a great choice, since they generally
come with higher interest rates on
accounts and lower
rates on loans and lines of credit.
Although there are several
high -
interest online savings
accounts that earn better
rates than the longest CDs, such
accounts these
come with lower deposit limits, which may prevent you from earning those
rates on your entire savings balance.
Though the
interest rates start to get competitive only
with higher - tier checking and savings
accounts, the free
accounts all
come with a generous 24 - hour cushion if you overdraw.