After all, thats your reward forbuilding an emergency fundor socking away money for a future expense, right?
A regular, end-of-month deposit into your savings account, courtesy of your bank.
The good news: you’re free to also earn interest with selectchecking accounts.
What Is a High-Interest Checking Account?
High-interest checking accounts are a great way to earn more for your money.
No Interest Til Almost 2027?
The Penny Hoarderreview of Axos Bankfor 2023.
Its simple for you to start earning cash back with Discover Cashback Debit.
There is no minimum opening deposit, no balance or activities requirements, and no monthly maintenance fee.
There also are no fees for online bill pay and no overdraft charges.
Its an online bank, so you wont be able to deposit cash through the ATMs.
So, you could get an extra $30 every month.
Anything short of that will still generate 1% cashback.
*** And no minimum balance requirements to keep your accounts open.
The Penny Hoarderreview of Ally Bank.
Why You Should Consider High-Yield Checking Accounts
Well be honest you wont be raking in the dough.
However, if you could earnsomethingversusnothingfor keeping your money in a checking account, we think its worth exploring.
Who Can Get a High-Yield Checking Account?
Anyone 18 years old and up.
Some companies are able to offer evenhigherrates than their competitors.
For example,online-only bankstypically have an edge here.
ensure an account meets other needs you may have instead of solely chasing a high APY.
Many traditional brick-and-mortar and digital-only banks, financial institutions and credit unions offer high-interest checking accounts to members.
Our list of the six best high-interest checking accounts should get you started.
Those financial institutions include Axos, Ally, Quontic, Consumers Credit Union, SoFi and NBKC.
This depends on a variety of factors.
youll end up with $1,305.97 in one year.
Again, your results will depend on your own situation.
So, we looked for accounts that came in around that range or, ideally, were higher.
(Note: APY fluctuates over time, so a lower rate now could rise in the future.)
Beyond the interest rate, we looked at what else the account brings to the table.
She owns a content-writing business and her work has appeared in U.S. News, Clark.com and Well Kept Wallet.
yo refer to the applicable Upgrade VISA Debit Card Agreement and Disclosures for more information.
On days where the account closing balance drops below $1000, the APY will be 0%.
There are no monthly account fees associated with Premier Savings accounts.
Upgrade is a financial technology company, not a bank.
See the Active Account page for more information.
See the Active Account page for more information.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
