Best High-Yield Checking Accounts of February 2025

A high-yield checking account combines perks like free checking and no minimum balance with the potential to earn a high interest rate.

If you know what to look for, you can find high-interest checking accounts with great yields and all the features you would get with traditional checking.

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Best high-yield checking account rates

Location
Deposit Amount
Filters
Institution
APY
Service Charge
Min. to Earn
Min. Deposit
Century Next Bank (LA)
Member FDIC
Priority Checking
4.8 Our Rating
7.00%
$0
$0
$50
View
Century Next Bank (LA)
Priority Checking
View
4.8 Our Rating Member FDIC
APY 7.00%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $50
Rave Financial
NCUA Insured
Business Checking Account
4.4 Our Rating
6.10%
$1k
View
Rave Financial
Business Checking Account
View
4.4 Our Rating NCUA Insured
APY 6.10%
Service Charge
Minimum to Earn $1k
Minimum Deposit
Alva State Bank & Trust Company
Member FDIC
Free Kasasa Cash Checking
4.6 Our Rating
6.00%
$0
$0
$100
View
Alva State Bank & Trust Company
Free Kasasa Cash Checking
View
4.6 Our Rating Member FDIC
APY 6.00%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $100
Communities Of Abilene Federal Credit Union
NCUA Insured
Kasasa Cash Checking
5.0 Our Rating
6.00%
$0
View
Communities Of Abilene Federal Credit Union
Kasasa Cash Checking
View
5.0 Our Rating NCUA Insured
APY 6.00%
Service Charge
Minimum to Earn $0
Minimum Deposit
Central Credit Union Of Illinois
NCUA Insured
Kasasa Cash
5.0 Our Rating
5.50%
$0
View
Central Credit Union Of Illinois
Kasasa Cash
View
5.0 Our Rating NCUA Insured
APY 5.50%
Service Charge
Minimum to Earn $0
Minimum Deposit
iQ Credit Union
NCUA Insured
Intelligent Checking - Qualifying
4.3 Our Rating
5.50%
$0
$0
$0
View
iQ Credit Union
Intelligent Checking - Qualifying
View
4.3 Our Rating NCUA Insured
APY 5.50%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $0
Keystone Bank (TX)
Member FDIC
Kasasa Cash Checking
4.8 Our Rating
5.50%
$0
$0
$25
View
Keystone Bank (TX)
Kasasa Cash Checking
View
4.8 Our Rating Member FDIC
APY 5.50%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $25
FitnessBank
Member FDIC
Elite Checking
4.3 Our Rating
5.35%
$10
$0
$100
View
FitnessBank
Elite Checking
View
4.3 Our Rating Member FDIC
APY 5.35%
Service Charge $10
Minimum to Earn $0
Minimum Deposit $100
BankOnBuffalo
Member FDIC
WOW Checking
4.7 Our Rating
5.25%
$0
$0
View
BankOnBuffalo
WOW Checking
View
4.7 Our Rating Member FDIC
APY 5.25%
Service Charge $0
Minimum to Earn $0
Minimum Deposit
Cross Keys Bank
Member FDIC
Kasasa Cash
4.9 Our Rating
5.15%
$0
$0
$50
View
Cross Keys Bank
Kasasa Cash
View
4.9 Our Rating Member FDIC
APY 5.15%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $50
Carolina Foothills Federal Credit Union
NCUA Insured
Peak Performance Checking
5.0 Our Rating
5.12%
$0
View
Carolina Foothills Federal Credit Union
Peak Performance Checking
View
5.0 Our Rating NCUA Insured
APY 5.12%
Service Charge
Minimum to Earn $0
Minimum Deposit
NorthWest Plus Credit Union
NCUA Insured
Kasasa Cash
4.8 Our Rating
5.12%
$0
$0
$25
View
NorthWest Plus Credit Union
Kasasa Cash
View
4.8 Our Rating NCUA Insured
APY 5.12%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $25
Texas Champion Bank
Member FDIC
Kasasa Cash
5.0 Our Rating
5.12%
$0
View
Texas Champion Bank
Kasasa Cash
View
5.0 Our Rating Member FDIC
APY 5.12%
Service Charge
Minimum to Earn $0
Minimum Deposit
First Liberty Bank
Member FDIC
Kasasa Cash
5.0 Our Rating
5.10%
$0
View
First Liberty Bank
Kasasa Cash
View
5.0 Our Rating Member FDIC
APY 5.10%
Service Charge
Minimum to Earn $0
Minimum Deposit
Collins Community Credit Union
NCUA Insured
Advantage Checking
4.3 Our Rating
5.05%
$0
$0
$50
View
Collins Community Credit Union
Advantage Checking
View
4.3 Our Rating NCUA Insured
APY 5.05%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $50
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On this page

What is a high-yield rewards checking account?

A high-yield checking account (or “rewards checking account”) is the valedictorian of checking accounts. It typically has standard checking account features but with interest rates at the top of its class.

This is a major benefit because most standard checking accounts pay little or no interest. Another perk is that, unlike most savings accounts, the typical high-yield checking account has no limits on withdrawals.

However, these high-interest accounts might have certain requirements, such as completing a certain number of debit card transactions or deposits each month or receiving your statements electronically.

Some institutions may also cap the balances on which you earn the highest annual percentage yield (APY), so any money above this amount could earn lower or no interest.

A high-yield checking account is a great place to keep cash you need to access regularly. But if you won't need your funds in the near future, you may earn more by choosing a high-yield savings account instead.

What to look for in a high-yield checking account

Banks and credit unions are always competing for your business, making it worthwhile to shop around. As you compare high-yield checking accounts, consider some of these factors:

Competitive rates

The whole point of a high-yield checking account is the higher yield, so check the APY first. The average standard checking account paid 0.07% as of Oct. 21, 2024, according to the Federal Deposit Insurance Corp. (FDIC), so any high-yield checking account worth its salt should pay considerably more.

Rate Qualifiers

You may need to meet qualification requirements to earn the highest APY offered for your high-yield checking account. These can range from simply agreeing to receive electronic statements to making a specific number of deposits or withdrawals in a certain period.

Make sure you are aware of the qualifiers and feel confident you can meet them.

Fees

Account fees can eat into your overall returns on high-yield checking accounts. To earn the most interest, look for an account with minimal or no fees. Credit unions usually offer fewer and lower fees than traditional banks, but not always.

Some fees to watch out for include:

At the same time, you might be able to avoid some fees if you meet certain requirements, such as keeping a specific daily balance.

You can find a list of all charges on the bank or credit union's fee schedule.

Access to ATMs

If you plan to use ATMs, you’ll want to know what ATMs are available. Some banks partner with specific ATM networks, and if you use a terminal outside the network, you might get hit with a fee.

In some cases, your bank may reimburse you for out-of-network fees, though you might be limited to a given amount of transactions per month.

FDIC or NCUA Insurance

No matter where you bank, you’ll want to know that your money is safe. Make sure the bank or credit union you’re considering has federal deposit insurance.

The FDIC insures balances for up to $250,000 per depositor, per insured bank, for each type of account you hold. The National Credit Union Administration (NCUA) offers the same coverage for accounts held at credit unions.

This insurance coverage can protect you if your institution goes bankrupt or closes.

Sign-up bonus

The cherry on top of any high-yield checking account sundae is an added sign-up bonus.

Although sign-up bonuses are wonderful to receive, make sure the checking account satisfies all your other requirements first. After all, you wouldn't want a sundae with just a cherry and no ice cream.

How to find the best high-yield rewards checking account for you

Picking the best high-yield checking account will depend on which features are most important for you.

You might focus on getting the highest possible APY or filter your choices to include only banks with a nearby branch or those with a large number of ATMs.

You should also pay close attention to qualifications and limitations. For example, if you don't plan to make regular deposits to your account, an account that requires 10 monthly deposits to earn the higher APY probably won’t be a good choice.

Consider making a list of which features are most important to you as you look at your options for high-interest checking accounts.

Pros and cons of high-yield checking accounts

High-yield checking accounts have a lot to offer, but they aren't always the best place to keep your money. Depending on your goals, another account type may be better.

Pros of high-interest checking

  • High APY: You have the opportunity to earn more interest on your money than with a standard checking account.
  • Accessibility: You can access your money more easily than with high-yield savings accounts, which limit the number of transactions you can make per month.
  • Security: Your balance may be insured for up to $250,000 if the institution is covered by the FDIC or NCUA.

Cons of high-interest checking

  • APY qualifications: You often need to meet certain qualifications to earn the higher APY.
  • Balance caps: There may be a limit to the portion of your account balance that earns the higher yield.
  • Not the highest APY: Other accounts might offer higher APYs, such as high-yield savings accounts.

Alternatives to high-yield checking accounts

Of course, high-yield checking accounts aren’t your only choice. Depending on your needs and goals, one of these other accounts may be a better fit: