14 best high-yield checking accounts of 2021 | finder.com

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Best high-yield checking accounts of March 2021

Compare the top 14 accounts from over 100 interest bearing checking accounts.

Updated . What changed?

Fact checked

Best high-interest checking: OnJuno

Up to 2.15%

APY

  • Yearly cashbacks
  • 24/7 customer support
  • $0 minimum deposit to open
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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.

14 best high-yield checking accounts

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.

Name Product APY Minimum deposit to open Fee ATMs
OnJuno
2.15% on balances of $0 to $30,000
0.25% on balances of $30,000.01 to
$0
From $0 per month
more than 85,000 ATMs nationwide
OnJuno embraces an open banking system for everyone, regardless of their age, location, or income.
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
$50
$0 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.
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
$5
$0 per month
Over 30,000 ATMs and access to over 5,000 shared branches
Earn Up to 4.09% APY* on balances up to $10,000. No monthly maintenance fees. Online Banking and Bill Pay
Radius Bank Rewards Checking
0.15% on balances of $100,000+
0.10% on balances of $2,500 to $99,999.99
$100
$0 per month
More than 20,000 ATMs + unlimited ATM surcharge rebates
Earn cash back with this high-interest checking account, plus get free ATM access worldwide.
T-Mobile Money
4.00% on balances of $0 to $3,000
1.00% on balances of $3,001 to
$0
$0 per month
More than 55,000 no-fee ATMs worldwide with the Allpoint ATM network
No overdraft fees. No maintenance fees. No fees at Allpoint ATMs. No minimum balance.
Quontic Bank High Interest Checking
Quontic Bank High Interest Checking
1.01% on balances of $0 to $1,000,000.01 with 15 qualifying point of sale debit card transactions, otherwise 0.01%
$100
$0 per month
90,000+ surcharge-free ATMs
Quontic Bank High Interest Checking offers a high APY and no monthly fee. But you’ll need to make at least 15 debit card transactions a month to keep the high APY.
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Compare up to 4 providers

Closer look at the best high-interest checking accounts

Take a deeper look at the best high-interest checking accounts by comparing their pros and cons.

OnJuno

OnJuno logo
Finder Rating: 4.8 / 5

★★★★★

Apply now
at OnJuno's secure site
Up to 2.15%
APY
None
Fees
None
Min. opening deposit
  • Choose your own rewards. You have the power to decide which five brands you earn 5% cashback with. Plus, you'll get up to 2.15% APY on your savings depending on your balance and membership tier.
  • Get paid plan for free. OnJuno will waive the $9.99 monthly fee for the Metal membership tier when you set up direct deposits.
  • OnJuno gives back. In an effort to reduce wealth inequality, OnJuno donates 2.15% of its profits to charities in India.
  • Rewards limits. For the Metal plan, the 2.15% is capped at $30,000 and you'll only earn 5% cash back on up to $3,000 in yearly purchases. The limits are lower for the free plan.
  • No joint accounts. You can't open this account with a partner or family member.
  • No other accounts. You won't find any other banking products at OnJuno, so it may not be a good fit for those who want to keep all their accounts under one roof.
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

Axos Bank Rewards Checking

Axos Bank Rewards Checking logo
Finder Rating: 5 / 5

★★★★★

Apply now
at Axos Bank's secure site
Up to 1.25%
APY
None
Fees
$50
Min. opening deposit
  • Impressive APY. Axos Bank Rewards Checking earns up to 1.25% APY — a rate higher than most savings accounts.
  • Unlimited ATM reimbursements. Axos Bank reimburses you for all non-network ATM fees within one business day.
  • No fees. This account doesn't charge any fees for overdrafts, insufficient funds or monthly maintenance.
  • Strict APY requirements. You must make at least $1,000 in monthly direct deposits and 15 transactions of at least $3 each to qualify for the highest APY tier.
  • Opening deposit. You'll need at least $50 to open this account, unlike other options on our list that let you get started with as little as $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

Consumers Credit Union Rewards Checking

Consumers Credit Union Rewards Checking logo
Finder Rating: 4 / 5

★★★★★

Apply now
at Consumers Credit Union (IL)'s secure site
Up to 4.09%
APY
None
Fees
$5
Min. opening deposit
  • Highest APY. Earn up to 4.09% APY on the first $10,000 in your account when you meet certain activity requirements.
  • No monthly fees. Even with its high APY, this account has no monthly fees.
  • ATM fee reimbursements. Consumers Credit Union reimburses you for all non-network ATM fees when you meet certain activity requirements.
  • Cap on APY. You'll only earn up to 4.09% APY on the first $10,000 in your account. After that, you earn 0.2% on balances between $10,000.01 and $25,000, and 0.1% on balances above $25,000.01.
  • ATM fee refund requirements. You'll need to meet all the requirements to earn 3.09% APY if you want to take advantage of non-network ATM reimbursements
  • Mandatory membership. Because CCU is a credit union, you'll need to pay a one-time $5 fee to Consumers Cooperative Association and open a Membership Share/Savings account before you can open this checking account.
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

Radius Bank Rewards Checking

Radius Bank Rewards Checking logo
Finder Rating: 4.2 / 5

★★★★★

Apply now
at Radius Bank's secure site
Up to 0.15%
APY
None
Fees
$100
Min. opening deposit
  • Cashback rewards. On top of earning up to 0.15% APY, you'll earn 1% cashback on all online and signature-based debit card transactions.
  • No hidden fees. Radius Bank doesn't charge any fees for ATMs or monthly maintenance.
  • Early direct deposit. Sign up for direct deposit and receive your paycheck up to two days early.
  • Cashback requirements. To earn cashback on debit card purchases, you'll need to either maintain an average $2,500 or receive at least $2,500 in monthly direct deposits.
  • Overdraft fees. You'll pay $25, plus $5 for every day your account is in the red after the first five days.
APY 0.15%
Account fees $0 monthly
Can the fee be waived? Yes
ATM transaction fee $0
Overdraft fee $25

T-Mobile Money

Up to 4%
APY
None
Fees
None
Min. opening deposit
  • Earns interest. Eligible T-Mobile wireless customers earn an impressive 4% APY on the first $3,000 in their account. Other customers earn 1%, which is still higher than most savings accounts.
  • 24/7 support. Get help from customer service any time day or night by calling **MONEY or 866-686-9358.
  • Extra overdraft protection. T-Mobile's Got Your Back program gives up to $50 in overdraft protection to eligible customers.
  • APY requirements. To earn 4% APY, you'll need to have an active T-Mobile postpaid wireless plan, register for perks with your T-Mobile ID and have at least $200 in qualifying direct deposits.
  • One account only. This account can't be opened jointly and T-Mobile doesn't offer any savings accounts.
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

TIAA Bank Yield Pledge Checking

Up to 0.25%
APY
None
Fees
$100
Min. opening deposit
  • Introductory APY. You'll earn 0.4% APY the first year you open your account. After that, it drops down to 0.25%.
  • Price protection. If you make a purchase with your High Yield debit card and the price goes down within 60 days, TIAA will reimburse you the difference, up to $250.
  • Return protection. If you make a purchase with your High Yield debit card and the merchant won't accept the return within 90 days of purchase, TIAA will refund you up to $250.
  • $100 opening deposit. You'll need at least $100 to open a TIAA Bank Yield Pledge Checking account.
  • Miscellaneous fees. There aren't any monthly fees, but expect to pay $10 for cashier's checks, $10 for returned deposit items, $25 to send domestic wires, $30 to $65 for foreign wire transfers and more.
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

Ally Bank Interest Checking

Up to 0.15%
APY
None
Fees
None
Min. opening deposit
  • No minimums or monthly fees. This account is free to open and has a $0 minimum deposit.
  • Variable interest rates. Earn 0.1% APY on balances up to $14,999 and 0.15% APY on balances of $15,000 or more.
  • 24/7 customer service. Ally customer service representatives are available by phone and live chat every single day.
  • No branch locations. Ally may have 24/7 customer service, but it doesn't have any branch locations for in-person support.
  • No cash deposits. As with most online bank accounts, you can't deposit cash directly into your account. You must buy a money order and mailing it to Ally instead.
APY 0.15%
Account fees $0 monthly
Can the fee be waived? Yes
ATM transaction fee $0
Foreign transaction fee 1%
Overdraft fee $25

NBKC Everything Account

Up to 0.25%
APY
None
Fees
$5
Min. opening deposit
  • No APY requirements. You'll earn 0.25% APY on your total account balance, no strings attached.
  • ATM fee rebates. NBKC will reimburse up to $12 in non-network ATM fees each month.
  • No fees. NBKC prides itself on no hidden fees. You won't pay anything for incoming domestic wires, foreign transactions, monthly maintenance, cashier's checks or overdrafts.
  • Wire transfer fees. NBKC has almost no fees, but you'll still pay $45 to send and receive international wires and $5 to send domestic wires.
  • Limited customer service. The only time you can reach customer service is during regular business hours, weekdays from 8 a.m. to 5 p.m. CT.
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

Capital One 360 Checking

0.1%
APY
None
Fees
None
Min. opening deposit
  • No fees. It costs nothing to open a Capital One 360 Checking account and earn 0.1% APY on your total balance. Plus, you won't pay anything for ATM withdrawals and foreign transactions.
  • Four overdraft options. Unlike many banks, Capital One gives you four ways to avoid overdraft fees — which often cost around $30 each.
  • Free credit monitoring. As a Capital One customer, you can download the CreditWise app to monitor your credit score. You'll also get tips on how to improve it and alerts when it changes.
  • Potential credit check. If you choose a line of credit as your overdraft protection option, Capital One will perform a hard pull on your credit, which may impact your score.
  • Short support window. Unlike other banks of its size, Capital One customer service is only available daily from 8 a.m. to 8 p.m. Customer service isn't 24/7.
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

Alliant Credit Union High-Rate Checking

Up to 0.25%
APY
None
Fees
None
Min. opening deposit
  • Earns interest. Earn the advertised 0.25% APY when you opt into electronic statements and make at least one electronic deposit a month.
  • No monthly fees. This account has no monthly fees and a low $0 opening deposit.
  • ATM fee rebates. Get up to $20 in monthly rebates when you use an ATM outside of Alliant's network.
  • Limited eligibility. Alliant is a credit union, so you'll need to become a member before you can open this checking account.
  • Account closure fee. You'll pay a $10 fee if you close your account within 90 days of opening it.
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

Quontic Bank High Interest Checking

Quontic Bank High Interest Checking logo
Up to 1.01%
APY
None
Fees
$100
Min. opening deposit
  • No monthly fees. Enjoy no monthly fees when you open a Quontic Bank High Interest Checking account.
  • Large ATM network. Use over 90,000 AllPoint, MoneyPass, SUM and Citibank ATMs nationwide for free.
  • Accessible customer service. Get ahold of customer service by starting a live chat on the website or by calling 800-908-6600.
  • $100 opening deposit. This account requires a $100 minimum deposit, which is higher than most options on our list.
  • APY requirements. You'll need to make at least 15 point of sale debit card transactions a month to earn 1.01% APY. Otherwise, you'll only earn 0.01%.
APY 1.01%
Account fees $0 monthly
Can the fee be waived? Yes
Overdraft fee $35

First Internet Bank Interest Checking

First Internet Bank Interest Checking logo
0.3%
APY
$10 monthly
Fees
$100
Min. opening deposit
  • Earns interest. You'll earn 0.3% APY on your total account balance. You don't need to meet any special requirements to qualify.
  • ATM fee rebates. First Internet Bank reimburses up to $10 a month in non-network ATM fees.
  • Freebies. Incoming wires and your first order of checks are always free.
  • Monthly fee. First Internet Bank Interest Checking has a $10 monthly fee, but it's waived when you maintain a $500 minimum balance in your account.
  • Opening deposit requirements. You'll need at least $100 to open an account.
APY 0.3%
Account fees $10 monthly
Can the fee be waived? Yes
$500 Average daily balance

BankPurely CheckingPurely

BankPurely CheckingPurely logo
0.25%
APY
None
Fees
$100
Min. opening deposit
  • Ethical checking account. BankPurely is PayItGreen certified and aims to minimize its carbon footprint through sustainable approaches.
  • Earns interest. Earn 0.25% APY on your total balance. You don't need to meet any special requirements to qualify.
  • No monthly fees. This account has no monthly fees, although you need at least $100 to open.
  • $100 opening deposit. Unlike other options on our list, you'll need at least $100 to open a CheckingPurely account with BankPurely.
  • ATM fee. You'll pay $1.50 each time you use a non-network ATM, unlike other banks that refund these fees.
APY 0.25%
Account fees $0 monthly
Can the fee be waived? Yes
ATM transaction fee $0

Bank5 Connect High-Interest Checking

Bank5 Connect High-Interest Checking logo
0.2%
APY
None
Fees
$10
Min. opening deposit
  • Cashback rewards. Earn cash back at popular retailers when you use your Bank5 Connect Visa Debit Card.
  • ATM rebates. If you use a non-network ATM machine, Bank5 Connect will reimburse you for up to $15 in fees a month.
  • No fees. Unlike most interest-bearing checking accounts, you won't pay any monthly fees with this account.
  • Daily purchase limit. You can't spend more than $1,000 a day with your Bank5 Connect debit card, although you can call customer service to have this limit adjusted.
  • APY requirements. You must maintain a minimum $100 balance to earn interest.
APY 0.2%
Account fees $0 monthly
Can the fee be waived? Yes
ATM transaction fee $0
Paper statement fee $1

How to choose the best high-yield checking account

Before you choose an interest bearing checking account, compare these factors to find the best one for you:
  • Minimum deposit. It’s not uncommon for interest-bearing checking accounts to have opening deposits of $100 or more.
  • Fees. Read the fine print to learn any conditions you’ll need to meet to earn your APY, like minimum balances or direct deposits. Also, check fees for ATMs, overdrafts and foreign transactions.
  • Customer support. Review the bank’s customer support hours to make sure someone’s available if you need it.
  • Features. Some high-interest checking accounts come with budgeting tools, auto-save features and even cash back on debit card purchases.
  • ATM network. See if your bank has a nationwide ATM network or if you’ll be limited to a certain area. Some banks even offer reimbursements for non-network ATMs.

      Alternatives to high-yield checking accounts

      If you’re not completely set on a high-yield checking account, here are some similar alternatives to explore:
      • Money market accounts. The best money market accounts come with checkwriting privileges and a debit card so you can access your money on the fly. But they also have a competitive APY so you can quickly grow your savings.
      • Digital bank accounts. Don’t want to deal with separate checking and savings accounts? Find a digital bank that lets you manage all your money in one place. Popular options like PNC Virtual Wallet and Aspiration have combo accounts designed for spending and saving.
      • High-yield savings account. If you don’t plan on spending the money you keep in your high-yield checking account, then a high-yield savings account is a good alternative. They often have higher interest rates and lower fees.

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

      High-interest checking accounts have the same FDIC insurance as other bank accounts and come with these benefits and drawbacks:

      Pros

      • 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.

      Cons

      • 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.
      Back to top

      Are high-yield checking accounts worth it?

      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.

      Do banks or credit unions offer higher-yield checking accounts?

      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.

      How do interest-bearing checking accounts work?

      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.

      Bottom line

      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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