
High-yield reward checking accounts are the only deposit account in today’s world with a rate over 3%. Not all have rates over 3%, but the best ones still do. You can’t even get 3% rates today with 7-year CDs. However, unlike CDs, the reward checking accounts require work, and there are limitations. The main limitation is the balance that qualifies for the high rate, the balance cap. A few years ago, a $25K balance cap was most common. The $10K balance cap is now more common, especially for reward checking accounts that have recently been launched. One example of this...
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