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Compare interest-bearing checking accounts

Enjoy a small boost to your balance while making everyday transactions.


Fact checked
Most checking accounts give you easy access to your money, but earn you little-to-no interest. So, what do you do when you want to grow your hard-earned dollars without sacrificing accessibility? That’s where an interest-bearing checking account comes in. Check out our top five recommendations below.

Compare interest-bearing checking accounts

Name Product APY Minimum deposit to open Monthly fee ATMs
Axos Bank Rewards Checking
1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
Aspiration Spend & Save Account
1.00% on balances of $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
Fee-free ATM withdrawals at Allpoint ATMs
A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
Consumers Credit Union Rewards Checking
4.09% on balances of $0 to $10,000
0.20% on balances of $10,000.01 to $25,000
0.10% on balances of $25,000.01 to
Over 30,000 ATMs and access to over 5,000 shared branches
Earn a super high 3.09% APY on balances up to $10,000 if you receive eDocuments, make 12+ debit card purchases totaling $100+ and direct deposit $500+ each month. Earn 4.09% APY if you also spend $500+ on CCU's credit card, or 5.09% if you also spend $1,000+ on the credit card monthly.
Radius Bank Rewards Checking
0.15% on balances of $100,000+
0.10% on balances of $2,500 to $99,999.99
More than 20,000 ATMs + unlimited ATM surcharge rebates
Earn cash back with this high-interest checking account, plus get free ATM access worldwide.
TD Beyond Checking
0.03% on balances of $50,000+
0.02% on balances of $10,000 to $49,999.99
0.01% on balances of $0.01 to $9,999.99
$25 per month
1,900 ATMs across the country and Canada
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
Chase Sapphire Checking
$25 per month
Free to use anywhere worldwide
Get a $1000 welcome bonus when you join Sapphire Banking by October 14, 2020. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.

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How does an interest-bearing checking account work?

An interest-bearing 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.

How can I compare interest-bearing checking accounts?

First assess what your needs are, the type of transactions you tend to make and how often you deposit money in your account. High-yield checking accounts often come with low ongoing fees. To make sure you’re getting the best deal you’re eligible for, weigh the APR against ATM, debit and other transaction fees that can eat into your ability to earn interest.

Competitive features designed to keep more of your money away from fees and reward you for your loyalty include:

  • No monthly fees. Look for ways to avoid advertised maintenance fees, including committing to regular direct deposits or autopay requirements.
  • Low or no monthly deposits. Some accounts require a minimum monthly deposit to earn interest or avoid fees.
  • No ATM fees. Competitive banks offer free out-of-network withdrawals and even reimburse you for fees you’re charged by third-party operators.
  • No debit card fees. With so much competition, it’s easy to find a bank that allows full use of a debit card without a charge.
  • Convenient banking. If you like banking on the go, look for a robust app that allows you to manage your balance from your phone. Find a network of brick-and-mortar branches if you prefer in-person support.
  • Low minimum opening balance. Look beyond banks requiring minimums that are more than you have to save.
  • Competitive interest rates. Get the most out of your APY by learning whether interest payouts align with your paychecks — you’ll want it calculated against your highest balance between constant withdrawals and deposits.
  • Rewards and perks. Many banks entice customers with cash back, miles or other rewards with your debit card.
  • No foreign transaction fees. Frequent travelers will appreciate straightforward spending overseas and on foreign websites.

What are the pros and cons of interest-bearing checking accounts?


  • Interest on your balance. Earning money with little effort is a plus — especially when most checking accounts don’t offer it.
  • Easy access to your money. Set aside the funds you need to pay regular bills and funnel anything that’s left to your long-term savings account.
  • FDIC protection. Your balance of up to $250,000 is protected against the financial institution’s collapse or failure.


  • Low interest rates. APYs are often lower than your typical savings options, so don’t expect to rely on these accounts for long-term savings.
  • Minimums required. If you can’t maintain at least the minimum, you may end up paying an assortment of fees — or find you’re excluded from earning the interest you sign up for.
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How we chose the best high-interest checking accounts

Most checking accounts are designed to separate your fluid cash from your long-term savings. But an interest-bearing checking account offers the best of both worlds because you earn interest without giving up that easy access.

When researching our top five list, we looked at checking accounts with the highest interest rates first. Then, we weeded through our options by looking at factors like monthly fees, minimum balance requirements and ATM networks until we found the top five accounts.

Bottom line

An interest-bearing 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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