High Interest Checking Accounts Paying Over 4%
Most checking accounts pay almost no interest. However, there are 3 banks currently paying over 4% in interest for checking accounts.
Royal Bank is currently paying 4.3%, Bank of the Sierra is paying 4.09% and Danvers Bank is paying 4.01%.These rates are variable and will change.
Of course there are requirements to get the 4%+ interest. The features and requirements are as follows:
Royal Bank
Requirements to Receive 4.30% APY
- 15 Point of Sale Debit Card Transactions
- 1 Direct Deposit and/or ACH Debit/Credit
- E-Statement (must provide valid e-mail address)
Features
- $100.00 minimum to open
- No minimum balance once opened
- No monthly service fee
- 4.30% Annual Percentage Yield (APY) earned on daily collected balances up to $24,999
- Rate accurate as of October 1, 2009 and has been the effective rate since May 7, 2009
- Access to ATM’s Nationwide
- Royal Banks MasterCard Debit Card
- FREE Royal Banks Online Banking and Bill Pay
Bank of the Sierra
Requirements to Receive 4.09% APY
- Minimum 12 Sierra Check Card purchases per statement cycle (Purchases must be posted, not pending — excludes ATM transactions)
- Minimum one direct deposit or automatic payment from your account per statement cycle (must be posted, not pending)
- Make at least one payment using Sierra BillPay per statement cycle (must be posted, not pending)
- Enroll & receive Sierra eStatements
- Must be opened online
Features
- Earn 4.09% APY on balances up to $25,000
- Earn 1.01% APY on balances above $25,000
- If monthly qualifications are not met, you still earn .12% APY
- Reimburses up to $25.00 in ATM fees nationwide per statement cycle
- Free Sierra eStatement every month
- Free Sierra Bill Pay
- Free Sierra Check Card
- No monthly service charge
- Overdraft protection available with a savings account or apply for a line or credit
Danvers Bank
Requirements to Receive 4.01% APY
- Perform at least 12 debit card transactions (excluding ATMs)
- Receive their monthly statement electronically
- Access Online Banking
- Sign up for direct deposit or receive a recurring ACH.
Features
- Pays a rate like a CD (4.01%APY) without tying your funds up for a fixed period of time
- No daily minimum balance requirements to satisfy
- No monthly maintenance charges
- Enjoy refunded ATM fees nationwide
- Money is available 24/7 through a Danversbank Debit MasterCard
- Points2U rewards
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