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High Interest Checking Accounts Paying Over 4%

March 16, 2010 | Bank Rates | No Comments

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)



  • $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



  • 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.



  • 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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