Best high-interest checking: OnJuno
Up to 2.15%
APY
- Yearly cashbacks
- 24/7 customer support
- $0 minimum deposit to open
This article was reviewed by Marguerita Cheng, a member of the Finder Editorial Review Board and award-winning advocate for ethical financial planning for over 20 years.
The best high yield checking account offers interest without giving up easy access to your money. But unlike savings accounts, they are more likely to come with monthly fees. We researched over 100 interest bearing checking accounts to find the best accounts with low fees, competitive APYs, nationwide availability and low minimum balance requirements.
What’s changed in 2021?
We added OnJuno to our best high-interest checking account list because it has minimal fees and earns 2.15% APY on balances up to $30,000.
Compare the best interest bearing checking accounts using this interactive table. Sort the columns by APY, minimum deposit to open and fees to find the right account for you.
Take a deeper look at the best high-interest checking accounts by comparing their pros and cons.
APY | 2.15% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $0 |
ATM transaction fee | $0 |
Foreign transaction fee | 0% |
Accout closure fee | $0 |
APY | 1.25% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $0 |
ATM transaction fee | $0 |
Foreign transaction fee | 1% |
Overdraft fee | $0 |
APY | 4.09% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $30 |
ATM transaction fee | $0 |
Wire transfer fee | $10 |
Overdraft fee | $30 |
APY | 0.15% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
ATM transaction fee | $0 |
Overdraft fee | $25 |
APY | 4% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $0 |
ATM transaction fee | $0 |
Foreign transaction fee | 0% |
Overdraft fee | $0 |
APY | 0.25% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $30 |
ATM transaction fee | $0 |
Overdraft fee | $0 |
Accout closure fee | $0 |
APY | 0.15% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
ATM transaction fee | $0 |
Foreign transaction fee | 1% |
Overdraft fee | $25 |
APY | 0.25% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $0 |
ATM transaction fee | $0 |
Foreign transaction fee | 0% |
Overdraft fee | $0 |
APY | 0.1% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
No
|
Insufficient funds fee | $9 |
ATM transaction fee | $0 |
Paper statement fee | $5 |
Wire transfer fee | $40 |
Foreign transaction fee | 0% |
Overdraft fee | $35 |
APY | 0.25% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $25 |
ATM transaction fee | $0 |
Foreign transaction fee | 1% |
Overdraft fee | $28 |
Accout closure fee |
$10
if you close your account within 90 days of opening it |
APY | 1.01% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Overdraft fee | $35 |
APY | 0.3% |
---|---|
Account fees | $10 monthly |
Can the fee be waived? |
Yes
$500 Average daily balance |
APY | 0.25% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
ATM transaction fee | $0 |
APY | 0.2% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
ATM transaction fee | $0 |
Paper statement fee | $1 |
High-interest checking accounts have the same FDIC insurance as other bank accounts and come with these benefits and drawbacks:
Yes, in many cases high-yield checking accounts are worth it because they earn interest and give you the freedom to access your money whenever you need it. But some high-yield checking accounts only pay interest if you meet certain conditions or if your balance is below a certain amount. If you don’t meet those conditions or your balance is too high, a high-yield savings account or money market account might be a better fit for you.
In general, credit unions offer higher-yield checking accounts than banks do. However, in many cases, credit unions require you to meet more criteria in order to earn their best APYs. For instance, you may need to make a certain number of purchases in a month to qualify for the best APY, or you must have direct deposit set up. Banks that offer high-yield checking accounts usually won’t require you to jump through as many hoops as credit unions do.
A high-yield checking account allows you to earn interest on your balance but typically at a lower rate than you’ll find with a savings account. Because the rate’s lower, it won’t replace traditional or high-yield savings, but a little growth each month can’t hurt.
Read the fine print of your account’s terms and conditions for minimum deposits or balances required to trigger the interest rate.
A high-yield checking account can earn you a little extra on your balance intended for regular payments. But it doesn’t replace a savings account for long-term savings.
To keep your nest egg safe, compare savings accounts to find the highest APY you’re eligible for.
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