4.50% Checking Account with $5K Min at Third Federal

Third Federal is offering a 4.50% APY checking account for balances of $5K and over. The checking account requires only $10 to open. Balances under $5K earn 1% and balances under $1.5K don't earn any interest. A $5 monthly fee is waived for balances over $1.5K.

Third Federal currently offers this product only in the state of Ohio, and in certain markets of Kentucky and Florida. To see the details of this offer, I used the South Florida zip code 34101.

There are other high yield checking account offers but most require direct deposit. These include Presidential's 4.50% checking, Meadows's 4.33% checking and City National Bank of Taylor's 4.03% checking. Everbank still has its 5.51% 3-month intro rate for its checking account, however, after the first 3 months, this goes down to 3.01% for balances under $10K. For more high yield checking accounts refer to the iBankDesign checking rate forum.