If you need to maintain a high bank account balance for spending, the best checking account for you may be one that offers a high yield.
High-yield checking accounts stand out because they offer strong interest rates, while many traditional checking accounts don't offer interest at all.
Best High-Yield Checking Accounts
Below are the best checking accounts that offer interest.
Market Leader
Farmers Savings Bank Star Checking: up to 9.01% APY
Farmers Savings Bank is a local financial institution in Iowa. You must open the Farmers Savings Bank Star Checking Account at a branch. The bank has branches in the following cities in Iowa: Arlington, Colesburg, Elkport, and Strawberry Point.
If you're looking for the best rates for checking accounts, here are our top nationwide options:
- Best overall: Axos Bank Rewards Checking
- Best for highest interest: BCU PowerPlus Checking
- Best for ease of use: Redneck Bank Rewards Checkin' Account
- Best for avoiding fees: SoFi® Checking and Savings (Member FDIC)
- Best for credit unions: OnPath Rewards High-Yield Checking
High-Yield Checking Account Reviews
The checking accounts with the best interest rates pay well above average bank account interest rates. We have rated over 200 checking accounts, and narrowed down our top picks for high-interest checking accounts in this guide.
Except for the market leader, the best high-yield checking accounts on our list are available regardless of where you live in the United States. The credit unions featured have membership eligibility requirements, but these institutions offer more lenient ways to join that don't require you to live in a certain place or work for a certain group. Also, all of our picks are high-yield checking accounts with no fees, at least for monthly service fees.
Otherwise, consider a high-yield savings account if you'd prefer to earn interest for savings goals.
You can learn more about our top picks below. All of our top picks are either
Market Leader: Farmers Savings Bank Star Checking
Farmers Savings Bank is the current market leader for highest yielding checking accounts. It has a checking account paying up to 9.01% APY.
This may be a good option if you prioritize banking with a local financial institution and live near a branch in Iowa. The bank has branches in the following Iowa cities: Arlington, Colesburg, Elkport, and Strawberry Point. A minimum of $100 is required to open an account.
How interest works: You can earn 9.01% APY on balances up to $4,000 and 0.32% APY on balances over $4,000 if you meet the following requirements each month:
- Make 15 eligible debit card purchases (PIN-based transactions and signature-based transactions are two examples of eligible debit card purchases)
- Receive a direct deposit or have an automatic withdrawal
- Get online bank statements
You'll earn 0.05% APY on your checking account if you don't meet the monthly requirements.
Best Overall: Axos Bank Rewards Checking
Axos Bank is one of the best banks for a high-yield checking account. While this checking account may not offer the highest possible APY on our list, it's notably more well-rounded in terms of its other banking features and lets you earn up to 3.30% APY on balances up to $50,000 (which is a higher maximum limit than most of the other high-yield checking accounts mentioned).
The Axos Bank Rewards Checking has no monthly service fee and offers unlimited domestic ATM fee reimbursements. You can open an account with $0, which is the most lenient opening requirement possible.
Furthermore, Axos Bank is the only one of our top picks that's also in our guide of the best banks for overdrafts. The bank doesn't charge overdraft fees and also offers overdraft protection that links your checking account to a savings account.
How interest works:
You'll earn interest on Axos Bank Rewards Checking balances up to $50,000 if you do the following:
- Earn 0.40% APY (Annual Percentage Yield) when you receive at least $1,500 in direct deposits in a month. You have to meet this requirement to be able to earn any additional interest.
- Earn 0.30% APY when you make 10 debit card transactions in a month (minimum $3 per transaction) or you need to sign up for Account Aggregation/Personal Finance Manager.
- Earn 0.99% APY if you keep at least a daily average of $2,500 in an Axos Managed Portfolios Invest Account monthly.
- Earn 0.99% APY if you keep at least a daily average of $2,500 in an Axos Self-Directed Trading Invest Account monthly.
- Earn 0.60% APY if you make a monthly Axos consumer loan payment with your Reward Checking account
If you accomplish all goals in a month, you earn the maximum available APY.
Account balances over $50,000 won't earn interest. If you would like to maintain a high account balance, you may prefer another high-yield checking account.
Best for Highest Interest: BCU PowerPlus Checking
BCU PowerPlus Checking offers the absolute highest interest rate currently available at a nationwide financial institution, up to 8.00% APY. But you can only earn that interest rate if you meet specific requirements, and even then, you'll only earn it for three months and then up to 4.00% APY after that.
This checking account is a tiered account, meaning your interest rate is dependent on meeting specific requirements. No matter what, you'll have no monthly service fee and a $0 minimum opening deposit. You'll also get early direct deposit no matter what. Depending on what requirements you meet, you could get up to $20.00 of out-of-network ATM fees reimbursed each month, too, but BCU's ATM network is large enough that you might not need it. BCU partners with several different ATM networks to have over 90,000 nationwide ATMs in its network.
How interest works: BCU PowerPlus Checking has a tiered interest system, divided into Level One and Level Two. To reach Level One, you'll need to be enrolled in eStatements, have $1,000 of direct deposits each month, and make 15 transactions (such as debit and credit card purchases) each month. In exchange, you'll earn 2.00% APY on the first $15,000 in your account and 0.01% APY on the rest, along with being able to reimburse up to $10.00 of out-of-network ATM fees each month.
To reach Level Two, you'll still need to be enrolled in eStatements, but now you'll need to have $3,000 of direct deposits each month and make 30 transactions each month. You'll earn 4.00% APY on the first $15,000 in your account and have up to $20.00 of out-of-network ATM transactions if your account is Level Two. You'll still only earn 0.01% APY of interest on the rest of your funds.
If you're a new member who opens a new account before December 31, 2025, you'll double your APY for three months. Level One accounts will earn 4.00% APY on their first $15,000, and Level Two accounts will earn 8.00% APY on their first $15,000. You'll still only earn 0.01% APY on any money over $15,000 in your account.
It's important to note that every other checking account option we've chosen has the potential to earn a higher interest rate if you don't meet the requirements for the highest 8.00% APY account, and you'll only be able to earn that rate for a maximum of three months. Most of our chosen accounts have easier requirements to meet, too.
Best for Ease of Use: Redneck Bank Rewards Checking
Redneck Bank is our top pick for ease of use because its high-yield checking account is easy to open and manage.
One advantage of choosing a bank over a credit union is that you don't have to fulfill any membership requirements to open a bank account. At Redneck Bank, you also don't need to worry about monthly service fees or minimum balance requirements. If you meet the APY monthly criteria, you'll also get refunded up to $25 per month in out-of-network ATM fees.
You'll need at least $500 to open the Redneck Bank Rewards Checkin' Account. If you'd rather open a high-yield checking account with less money upfront, then this account isn't for you.
How interest works: The Redneck Bank Rewards Checkin' Account pays 4.65% APY on balances up to $15,000 and 0.50% APY on balances over $15,000 if you meet the following requirements each month:
- Make 10 debit card transactions
- Get online bank statements
If you don't meet the monthly requirements, you'll only earn 0.25% APY for that month.
Best for Avoiding Fees: SoFi Checking and Savings
SoFi® Checking and Savings (Member FDIC) is a great choice if you'd like to avoid common fees. It's also listed in our best checking accounts, our best rewards checking accounts, and our best no-account-fee checking accounts for its cash bonus.
This account doesn't have monthly service fees, minimum opening deposits, overdraft fees, or out-of-network ATM fees, making it great to avoid bank fees. SoFi® Checking and Savings (Member FDIC) lets you overdraft your account by up to $50 if you have at least $1,000 in monthly direct deposits without charging any fees. Keep in mind, though, that SoFi® doesn't reimburse out-of-network ATM fees charged by ATM vendors.
SoFi also offers extended FDIC insurance, so your money is protected up to $2 million — in comparison, FDIC insurance usually only covers $250,000 per person for an account.
SoFi® Checking and Savings (Member FDIC) is also one of the best no-account-fee checking accounts for a cash bonus. You may also qualify for a cash bonus of up to $300. To earn a $50 cash bonus, you must receive between $1,000 and $4,999 in qualifying direct deposits by January 31, 2026. To earn a $300 cash bonus, you must receive $5,000 or more in qualifying direct deposits before the bonus expiration date.
SoFi doesn't have as many bank account options as brick-and-mortar financial institutions. For example, you can't open separate checking and savings accounts or open a CD.
How interest works: You'll earn a higher interest if you set up direct deposit or deposit a minimum of $5,000 per month. SoFi members who do so earn up to 3.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
If you do not set up direct deposit or deposit a minimum of $5,000 per month, you'll earn 1.00% APY on savings account balances and 0.50% APY on checking account balances.
Best for Credit Unions: OnPath Credit Union Rewards High-Yield Checking
OnPath Credit Union is a good option for people who want to bank with a credit union. It also offers a great APY that you can keep earning indefinitely, unlike our top pick for the absolute highest interest rate. There aren't even any 7% interest savings accounts currently offered by nationwide financial institutions, so you'll be beating out the best high-yield savings accounts, too.
You'll also get refunded up to $10 per month for out-of-network ATM transactions, and there's no monthly account fee. There's a minimum opening deposit for this account, but at least it's reasonable, at just $25. Also, you need to become a member of OnPath Credit Union—the easiest way is to make a $5 donation to the OnPath Foundation.
Unlike the banks on this list, OnPath isn't online only; if you live in Louisiana, you'll be able to bank in person at one of 11 branches. You'll also be able to use the CO-OP shared branch network to bank nationwide, although there might be some limits to what you can do there.
How interest works: You can earn 7% APY on your account balance up to $10,000, and 0.50% on amounts over $10,000. You need to meet the following requirements, too:
- Log into online or mobile banking one or more times per statement cycle
- Enroll in e-statements and receive them for the relevant statement cycles
- Make 15 or more debit card purchases that post and settle in a statement cycle
Criteria for Ranking the Top High-Yield Checking Accounts
When deciding the best checking accounts with interest, we reviewed several factors. We consider how high its interest rate is, how easy it is to earn that rate, whether it charges monthly service fees or a minimum opening deposit, whether it's a good bank for avoiding overdraft fees or ATM fees, how good its customer service is, and what membership eligibility requirements it has, among other topics.
For this guide, all of our top picks offer above 3% APY and don't charge any monthly service fees.
Which High-Interest Checking Account is the Most Trustworthy?
The BBB assesses businesses by looking at responses to customer complaints, honesty in advertising, and transparency about business practices.
Farmers Savings Bank is the only bank on our list that hasn't been rated by the BBB yet.
Here are the BBB ratings for all of our other top picks:
| Institution | BBB grade |
| Axos | A+ |
| BCU | A+ |
| Redneck Bank | NR |
| SoFi | A+ |
| OnPath Federal Credit Union | B |
Redneck Bank's parent company, All America Bank, has an NR (No Rating) from the BBB because the bureau doesn't have enough information to rate either company yet.
OnPath Federal Credit Union received a B grade because the business is relatively new and it's received a few customer complaints on the BBB website.
How High-Interest Checking Accounts Work
A high-yield checking account is a type of checking account that lets you earn interest in your account by performing certain activities. High-yield checking account features vary depending on where you bank. Here's what to know about high-interest checking accounts so you can get the most out of your account.
Account Maximum and Balance Requirements
Usually, you'll have to maintain a certain account balance or make a qualifying number of monthly debit card purchases to earn the highest interest rate on a high-yield checking account. If you don't meet the requirements, you'll often earn a significantly lower APY.
Requirements also have to be fufilled on a monthly basis, so if you fail to meet the requirements for a certain month, you'll still get a lower APY even if you did what you needed to the month prior.
Opening High-Yield Checking Accounts at Banks vs. Credit Unions
Both banks and credit unions offer high-yield checking accounts.
If you open a high-yield checking account at a credit union, you'll also need to qualify for membership. Some credit unions restrict membership to people who live in certain states while others may specify specific jobs. There are also credit unions that anyone in the U.S. can join — they open up membership to anyone who applies to a foundation they've started or are partnered with.
Banks do not have any membership requirements. However, smaller banks may still place restrictions on who can join based on their physical footprint.
High-Yield Checking Accounts vs. High-Yield Savings Accounts
High-yield savings accounts also pay more interest than average bank account interest rates. Aside from interest, high-yield savings accounts are basically the same as traditional savings accounts.
The difference between a high-yield checking account versus a high-yield savings account is that the former is for people who maintain a high average balance regularly to conduct everyday transactions. Meanwhile, the latter can be used by anyone who wants to grow their savings in an account.
You could use a combination of both if that fits your goals. However, keep in mind that high-yield checking accounts tend to be stricter about balance requirements for earning interest, so you'll need to make sure you keep enough in your checking balance to earn the most out of it.
Benefits of Using High-Interest Checking Accounts
Competitive Interest Rates on High-Interest Checking Accounts
According to the FDIC, the average interest checking account pays 0.07% APY. High-interest checking accounts pay significantly more interest. In fact, our market leader pays up to 9.01% APY.
Keep in mind, however, that a lot of high-interest checking accounts have tiered interest rates. This means the APY on your account may vary depending on your account balance.
Fee Structures and Waivers for High-Yield Checking Accounts
Monthly Service Fees on High-Yield Checking Accounts
All of our top picks for the best high-interest checking accounts have zero monthly bank maintenance fees. You won't need to worry about meeting certain requirements to waive a fee. At other banks, you might need to maintain a certain account balance or complete certain activities each month so you don't have to pay a monthly service fee.
Overdraft Fees on High-Yield Checking Accounts
Overdraft fees occur when you withdraw more money than you have in a checking account. The bank will cover your negative balance so your transaction goes through, but you have to pay a fee.
You can avoid overdraft fees by selecting an overdraft protection that allows you to link a savings account to your checking account. When you overdraft, you'll be able to transfer money from your savings account to prevent a negative balance. Many banks don't charge a fee for this service.
Another option is to choose one of the best banks for overdrafts. Several banks do not charge any overdraft fees and also offer multiple overdraft protection options so you can still process your transactions regardless of your account balance.
ATM Fees on High-Yield Checking Accounts
Financial institutions may charge ATM fees when you use an ATM from another provider. You could be charged a fee by your bank, plus another fee from the ATM provider.
To avoid ATM fees, it's best to choose a bank with an ATM network that fits your needs. If you frequently travel and need to make transactions at ATMs, it may benefit you to choose a bank with a nationwide or worldwide ATM network so you don't have to use other providers. If you're the opposite, you might be OK with a smaller, regional ATM network.
Other Perks and Benefits of High-Yield Checking
Our top picks for high-interest checking accounts also have other perks and benefits.
For example, SoFi also has one of the best checking account bonuses right now. You may qualify for a cash bonus of up to $300 if you meet certain requirements.
Many of our top high-yield checking accounts also offer reimbursements for out-of-network ATM charges. This means if you use an ATM from another provider and get charged, your bank will give you a refund. There's usually a limit for how much a bank will refund you each month, varying from $10 to $25, depending on the financial institution.
Considerations and Potential Downsides of High-Yield Checking Accounts
Most high-yield checking accounts put limits and requirements on their highest interest rates. This means that using a high-yield checking account can require keeping a close eye on how much is in the account and how you're using it. While some high-yield savings accounts and most money market accounts impose limitations and requirements for earning their highest rates, they're usually not as strict or strenuous as those imposed by high-yield checking accounts.
High-yield checking accounts are also generally offered by either online-only or primarily online banks or credit unions. If you deposit a lot of cash or prefer banking in person, a high-yield checking account might not be the right choice for you.
While you can potentially earn higher rates from a high-yield checking account than a high-yield savings account, high-yield checking accounts still aren't a great place to keep your savings, especially if it's your primary checking account, as many high-yield checking accounts require. Savings accounts are generally harder to pull money from, which means you're less likely to accidentally spend your emergency fund.
Impact of Federal Reserve Rate Changes on High-Yield Checking Accounts
When it changes the federal funds rate, the Federal Reserve can indirectly impact interest rates on banking products, including high-yield checking accounts. High-interest checking account rates may rise when the federal funds rate goes up, and rates can drop when the federal funds rate gets cut.
Eight Fed meetings are scheduled annually, so you can monitor these meetings to better understand larger rate trends and forecasts. In 2024, the Fed cut rates three times, which resulted in slight rate declines for high-yield checking accounts. In 2025, it's likely high-yield checking account rates will drop further as the Fed may cut rates further.
Keep in mind that banks also have their own criteria for setting high-yield checking account rates. They'll typically be the least affected by Federal Reserve rate changes because banks already have other criteria for earning interest on checking accounts, like maintaining balances or fulfilling monthly transactions.
Safety With High-Interest Checking Accounts
A high-yield checking account is a bank account, which means it should be insured. If you're interested in a high-yield checking account offered by a bank or fintech company, you should check that the account is FDIC-insured. If you're interested in an account offered by a credit union, you should check the account is NCUA-insured. Both types of insurance work the same way: If the financial institution that offers your checking account fails, your money is insured by the federal government for up to $250,000 per depositor.
Comparing High-Yield Checking Accounts to Other Accounts
High-Yield Checking Accounts vs. High-Yield Savings Accounts
High-yield checking accounts and high-yield savings accounts both give you a strong rate on your cash at low risk. The highest-rate checking accounts have better rates than high-yield savings accounts right now, but it's usually much easier to earn a high rate in a high-yield savings account, and there are fewer limits on how much money in your account can earn a high rate.
High-yield savings accounts aren't as easy to withdraw money from as high-yield checking accounts. Savings accounts with debit cards are rare, and many savings accounts put limits on how many times you can withdraw money from your account each month. That being said, putting your savings in an account that's harder to access can make saving easier for many people, so this lack of access can end up being a boon.
High-Yield Checking Accounts vs. Money Market Accounts
High-yield checking accounts are similar to money market accounts in that they both generally have requirements on how much money you need in your account to earn the best interest rate. While high-yield checking accounts usually limit the highest rate to the first few thousand dollars in your account, money market accounts generally require you to put a significant amount of money in the account to earn the highest rate, unless it's a reverse-tier money market account, which is rare.
If you're planning on putting more than around $15,000 in your account, a money market account might be a better choice for you; if you're planning on putting less, then a high-yield checking account might be a better choice.
Money market accounts also frequently come with checks and ATM cards or debit cards to make it easier to get money out of your account. However, it's less common for money market accounts to give you unlimited withdrawals. Many money market accounts limit you to 6 free withdrawals per month, while most personal checking accounts let you withdraw money from your accounts as many times as you want.
High-Yield Checking Accounts vs. Brokerage Accounts
A brokerage account is an account that lets you invest your money in things like stocks, bonds, mutual funds, and ETFs. Both high-yield checking accounts and brokerage accounts can let you earn a rate of return for your money, but otherwise, they're pretty different.
The two big differences between brokerage accounts and high-yield checking accounts are how easy it is to access your money and how safe they are. High-yield checking accounts are almost always federally insured through either the FDIC or the NCUA, and the bank has to give you the interest rate they advertise until they formally change their rates. Brokerage accounts are insured by the Securities Investors Protection Corporation in case of bank failure, but that insurance doesn't cover losses due to investments not performing well. If your stocks or mutual funds aren't doing well, you could lose money, and you aren't guaranteed a certain interest rate.
It's usually much easier to get money out of a high-interest checking account than a brokerage account. Checking accounts usually come with debit cards, free ATM networks, and unlimited bank transfers to help you get money in and out of your account. Depending on what type of brokerage account you open, you might not have as easy access to your funds.
That being said, brokerage accounts don't have the same strict limits and requirements to earn a high interest rate. If you're looking to earn a high rate on more than $20,000, and you won't be in trouble if you lose that money, a brokerage account might be a better bet for you.
How to Choose a High-Yield Checking Account
When choosing a high-yield checking account, you'll need to consider whether you can meet the requirements to earn the account's highest APY. Many high-yield checking accounts offer much lower rates if you can't, so if you're not able to meet the monthly direct deposit requirements or use the account's debit card as much as the account requires, you'll want to go for another account.
You'll also consider how much money you want to keep in the account. It's common for high-yield checking accounts to only offer a great rate on the first few thousand dollars in the account, so if you're planning on keeping a balance higher than the account's limit, you'll want to go with another bank.
Finally, consider what perks you want from the account and what the opening requirements are. If you want a cash-back debit card, look for an account that offers that. If you travel and use ATMs frequently, go with an account that doesn't charge ATM fees and reimburses out-of-network ATM fees. And if you think you're likely to overdraft your account, choose a bank that doesn't charge overdraft fees.
In regards to opening an account, also take note that you need to provide documentation to verify your identity. Some banks permit immigrants and non-U.S. citizens to open a bank account with a foreign ID like a Matricula Consular or foreign passport, though.
Best High-Yield Checking Accounts FAQs
Yes, high-interest checking accounts at federally insured banks are FDIC-insured. Up to $250,000 per depositor, per account ownership category is covered in an FDIC-insured high-yield checking account.
Yes, there can be fees associated with high-yield checking accounts. Some high-yield checking accounts charge monthly service fees, ATM fees, and overdraft fees, among others, and many high-yield checking accounts require a minimum opening deposit.
Yes, you can use high-yield checking accounts for daily use. However, keep in mind that you'll usually need to maintain your bank account and fufill certain monthly activities to get a high-interest rate. Experts generally recommend high-yield checking accounts for people who maintain high account balances.
Farmers Savings Bank ohas the highest rate on a high-yield checking account. It is offering a bonus rate of up to 9.01% APY on Farmers Savings Bank Star Checking. If you meet certain eligibility requirements, you could earn 9.01% APY on account balances up to $4,000. Any amount over $4,000 will earn 0.32% APY.
The main downside to a high-yield checking accounts is that most require you to meet certain criteria each month to earn interest. For example, you may have to receive $500 in direct deposits or make 10 debit card transactions.
Why You Should Trust Us: Our Expert Panel for the Best High-Yield Checking Accounts
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best checking accounts for your needs.
Here's what they had to say about checking accounts. (Some text may be lightly edited for clarity.)
What makes a checking account good or not good?
Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":
"I would look at the ATM branch locations and then minimum balance amounts to not incur a monthly fee … I think there's other stuff that could make life easier, whether it's a free checks, online bill pay, are they in the Zelle network?"
Sophia Acevedo, banking editor, Business Insider:
"I would look for a checking account that either doesn't have any monthly services fees or offers multiple ways to waive the fee. I would also look at customer support availability and mobile app ratings."
How should someone decide whether to choose a rewards checking account with a high APY, cash sign-up bonus, or cash back?
Tania Brown, CFP® professional and vice president of coaching strategy at OfColor:
"I have checking accounts with all the above, because I use checking accounts for different purposes. I would tell someone, think through the experience of how you're going to use it. So I have my account strictly for bills and I don't attach a debit card to that. Well, I'm not going to get a lot of cash rewards out of that, because I rarely use that debit card, but I keep a pretty decent balance. So that one I use in particular for interest. I have a spending checking account. That one, I don't care if the balance is zero, the money that goes in there, I expect for it to go out. But because I use that often, that is the one I attached to a cash reward. And then I have another one that I use just for travel, and I actually have a travel reward attached to that one."
Roger Ma, CFP® professional:
"I think if you're someone who is responsible with credit, then instead of focusing on a checking account that rewards you, look to a credit card that rewards you for the areas where you spend money. I wouldn't recommend people waste their time with a rewards checking account. Get the fundamentals right with fewer checking or savings accounts, and then start to move toward using a credit card to build your credit."
How can someone decide between a bank and a credit union?
Tania Brown, CFP® professional:
"For most people, it falls into five categories: location, interest rates, services, technology, and relationships. Next, prioritize what's important and you will have your answer. For instance:
- If multiple regional and national locations are important: Banks typically have more locations than credit unions.
- If the most important thing to you is a high interest rate: Credit unions, on average, offer better interest rates than banks.
- If a lot of services (commercial banking, business banking, investment services, etc.) are valuable to you: Larger banks offers more services than most credit unions.
- If feeling like a person, not a number, matters to you: Credit unions are known for great personalized customer service.
- If you are a tech junkie: Larger banks typically offer more tech bells and whistles for online users than credit unions."
Sophia Acevedo, Business Insider:
"I think eligibility requirements could play an important factor in deciding between a bank or credit union. At credit unions, usually, you meet certain requirements to open bank accounts — maybe it's living in a specific area, or working for a select employee group. There are a few credit unions with flexible eligible requirements, though."
How can someone determine whether a banking institution is the right fit for them?
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
"The No. 1 thing about a checking account is you should know what provider the debit card is coming from. And a lot of people don't think about that because there are places that don't accept MasterCard or don't accept an Amex."
Methodology: How We Chose the Best High-Yield Checking Accounts
At Business Insider, our goal is to research and write content that can help you make smart decisions on personal finance. We update rates and top picks in a timely manner to make sure our guides are accurate for our readers.
Business Insider's personal finance team is editorially independent, which means our business team does not decide how we cover products and what we write about. Our editorial standards page provides more information about how we review and choose products.
To find the best interest checking account, we looked at checking accounts that paid the highest rates either on your entire balance or on up to a high balance. We chose accounts that make it relatively easy to be eligible to earn interest. For example, we'd prefer a checking account that required you to deposit $500 per month to earn interest over one that required $5,000 per month.
We examined other factors, too using our bank account methodology, such as monthly service fees, out-of-network fee reimbursements, and minimum opening deposits for checking accounts. We score each of these features on a scale of zero to five, then calculate the weighted average to get an account's final rating. We rate bank products on a scale from one to five stars. One star is the lowest rating and five stars is the highest rating.
Credit unions typically pay the highest rates on checking accounts. Credit unions only offer services to members, so we selected credit unions that are easy for most people in the U.S. to join. But keep in mind that a local or more selective credit union may offer better rates.
