Best High Yield Online Checking Account Rates, February 2010

By Pinyo, on September 3, 2009

If you keep a lot of money in your checking account, moving your money to a high interest checking account may be a good move. Below is a list of nationally available highest yields checking accounts. All of these accounts are FDIC insured up to $250,000. Your principal is protected and you’re guarantee a positive nominal return on investment.

As of 2/1/2010 the highest yield checking accounts are:

Bank	Interest Rate (APY)	Minimum Deposit	Details
EverBank FreeNet Checking Account	1.46%	$50,000	2.25% 3-month bonus rate and 1.46% first-year APY (minimum account balance of $50,000 to $99,999), Award-winning online banking, Live customer service 24/7, Unlimited check writing.
E*Trade’s Max-Rate Checking Account	0.30%	$5,000	No ATM fees, Free one-click transfers, Unlimited check writing, Online check and deposit image, Free online bill pay and advanced reporting.
ING Electric Orange Checking	0.25%	$1	Earn up to 1.45% APY with a balance of $100,000 or more, Free MasterCard Debit Card for all purchases, Free online bill pay, Free access to over 35,000 ATMs through the Allpoint network, Free postage
PerkStreet	N/A	$25	Get a $50 bonus for opening an account. PerkStreet Financial Visa® Debit Card offers 1% cash back. Free checks. No minimum balance requirement. No monthly fees when you use your account. Nation’s largest surcharge-free ATM network.
Charles Schwab Bank	variable	$1	Variable rate, changes daily.

Alternative Places For Your Money

Since there aren’t that many high interest checking options, you may want to open your checking account that also offers high yield savings or high interest CDs. For example, EverBank and E*Trade would be good candidates for this type of combo set up.

Please review information associated with each offer before you sign up. Rates and conditions change constantly and I have reported what I believe to be the most accurate information at the time the article was updated.

Get free updates

via Twitter

via Facebook

via RSS or Email

Share this article

Pinyo is the brain behind Moolanomy personal finance blog and a few other web sites. If you like this article, please subscribe for free daily email updates.

All posts by Pinyo

8 Comments

Mark
July 14, 2009, 20:22

My bank currently offers checking at 4.09% on balances upto $25,000. Anything over that is at 1.5%, and multiple accounts are available for the same bonus rate. Here’s the link (Hometown Checking Advantage) along with the conditions for the 4.09%

http://www.fmbnashville.com/products.htm
Frank
July 30, 2009, 16:32

Check out checkingfinder.com There are links to several banks offering rewards checking accounts with interest rates between 3% and 5% APR. There are a few conditions necessary to obtain the high rates; however, they are nothing you typically don’t already do.
Bob
October 16, 2009, 16:03

United FCU, they have branches in most of the states offers 6.01% on their high yield checking account.
Rosie
October 21, 2009, 19:36

Bank 1440 in Arizona offers 5.01% APY up to $25,000. Anything over that earns 2.01% when qualifications are met.

Their website explains everything…
Mike B.
November 13, 2009, 12:38

First Internet Bank (of Indiana) has a 1% rate with NO minimum deposit.
http://firstib.com
RateNerd
January 3, 2010, 9:02

Hi Pinyo – I have found a bunch of banks willing to pay dearly for new customers – check out this post where CharterOne Bank is willing to pay up to $220 for new customers. http://ratenerd.com/best-check.....-deal-2100
Stefanie
January 4, 2010, 17:39

These accounts are very similar to easyGROW Checking. I work for First Bank & Trust and they have been offering a high interest checking account since April. Check it out: http://www.easygrowchecking.com
Ken
January 31, 2010, 1:03

Reward checking definitely has some advantages if you don’t mind the debit card usage requirements. As Frank mentioned CheckingFinder.com is a good resource, but it excludes many local banks and credit unions. Search for “reward checking” in Google for sites to help you find a local reward checking account.

Please share your comment:

Comment Rules: Constructive criticism is welcomed. Please use your PERSONAL name or initials and not your business name or URL, as the latter comes off like spam and I'll most likely delete your comment. Have fun and thanks for adding to the conversation! Here's our comment policy and guidelines.

2 blogs that link to this article:

If your trackback does not show in 24 hours, please resend to this trackback URI.

Free Q&A Service

See More Questions

Best Bank Rates

High Interest Savings Accounts	1.51%
High Yield CDs (1-year)	1.75%
High Yield Checking Accounts	1.46%

Best Credit Cards

Best Credit Card	TrueEarnings®
0% APR Balance Transfer	6 mo
Lowest Interest Rate	9.75%
Best Cash Back Reward	5%

Your Credit Score

Featured Reviews

Affiliate Relationships

As required by FTC regulations, please note that we have a financial relationship with many of the companies mentioned on this site. We occasionally review products or services that we have been given access to for free. However, we do not accept compensation in any form in exchange for positive reviews and the reviews found on this site represent the opinions of the author.

Important Notice:

The information found on Moolanomy is provided and intended for informational and entertainment purposes only and does not constitute financial, legal, or other advice of any kind. The information contained on this site is aimed at a general audience, and does not attempt to offer specific advice to your specific circumstances. If you are looking for professional advice, you should consult with an independent financial adviser.

This site contains information about third party products and services, such as credit card offers, online banking, discount brokers, and credit score services. While we endeavor to ensure that the information presented on this site is accurate at the time of publication, any offers and rates shown on Moolanomy can and do change without notice. Visit the official site of the offer for up-to-date information.

For additional information, please review our Terms and Conditions.

Archives By Year

2007, 2008, and 2009

Additional Resources

CheapLoans.co.uk - A simple way to find cheap loans. For a hassle free quotation, apply now!
Mortgage Refinance - FHA lender offers fixed rate mortgage refinance loans for consolidating adjustable rate debt and loans, getting cash back and financing a new home remodel.