Best High-Yield Checking Accounts of 2025
Written by
Cynthia Bowman
Edited by
Emily Gadd
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High-yield checking accounts that pay high rates of interest aren’t easy to come by. Instead, savings accounts tend to be kings of the deposit account world when it comes to annual percentage yields. But there are exceptions to the rule.
This list of the best high-yield checking accounts is an excellent place to start if you’re looking for a low-fee or fee-free account with a high annual percentage yield and extensive services.
Top 9 High-Yield Checking Accounts of 2025
All of the accounts mentioned below have their strong points, but they differ in individual features and benefits. Here’s a quick look at the benefits and drawbacks of each account.
1. La Capitol Federal Credit Union: Choice Checking
The Choice Checking account has the top interest rates of the high-yield checking accounts reviewed here. It also has perks like reimbursed ATM withdrawals and relationship rates on savings.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| Up to | $50, plus $5 in primary savings account to join credit union | $8 |
Benefits
- Up to $25 per month in ATM fee refunds
- Can avoid fees by making 15 debit card swipes per month or maintaining an average daily balance of $1,000
Drawbacks
- Rate drops to when account holder has less than 15 debit card transactions during statement period
- $1,000 balance and e-statements required to avoid fees
- Access is only available to select Louisiana residents and students
- Balances over $10,000 earn a lower APY
2. Consumers Credit Union: Rewards Checking
Consumers Credit Union pays a highly competitive APY on your high-yield checking balance and doesn’t charge a monthly fee.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| Up to | $5 | None |
Benefits
- Direct deposits up to two days earlier
- No minimum balance requirements after the opening deposit
- Unlimited reimbursements on ATM charges when customer meets minimum Rewards Checking requirements
Drawbacks
- Requires joining one of CCU’s sponsor partnerships to access membership
- Highest APY requires at least a $10,000 balance and $1,000 in CCU Visa credit card purchases per month, along with debit transaction and direct deposit requirements
3. Lake Michigan Credit Union: Max Checking
If you’re eligible for Lake Michigan Credit Union membership and able to meet account requirements, you can earn an attractive APY without paying a monthly fee.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| Up to | $5 | None |
Benefits
- Highest APY available on balances up to $15,000
- No minimum balance requirement
- Up to $10 per month reimbursement of out-of-network ATM fees
Drawbacks
- Must meet monthly direct deposit, transaction and login requirements
4. Quontic Bank: High Interest Checking
Quontic’s APY may be lower than others on this list, but the account has no monthly maintenance fees or overdraft fees.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| Up to | $100 | None |
Benefits
- No balance tiers for earning interest
- No minimum balance requirements
- Free Quontic Pay Ring wearable payment device
Drawbacks
- Must make a minimum of 10 qualifying debit card purchases of $10 or more each month to earn highest APY — otherwise, APY drops to
- Does not reimburse out-of-network ATM fees
- Relatively high opening deposit requirement
5. Bank5 Connect: High-Interest Checking
The Bank5 Connect high-interest checking account pays a respectable APY on all balances and doesn’t charge any monthly maintenance fees.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| $10 | None |
Benefits
- Relatively high APY on all balances
- Up to $15 in out-of-network fee reimbursements per month
- Cash-back rewards on debit card purchases
Drawbacks
- $100 minimum to earn interest
- Daily debit card purchase limit of $1,500
- daily ATM withdrawal limit of $500
6. Liberty Federal Credit Union: Vertical Checking
You can earn a high APY on this account if you can meet its monthly requirements for direct deposit and debit card purchases.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| $25 | None |
Benefits
- High interest on balances up to $20,000
- No minimum balance requirements or monthly service fee
- Up to $15 in out-of-network ATM fee reimbursements per month
Drawbacks
- Must meet several requirements to earn APY, including at least 15 debit card transactions per month
- Must qualify for Liberty FCU membership
7. Axos Bank: Rewards Checking
Axos has a solid online banking experience and a lucrative rate. Best of all, the fees most banks charge simply for having an account are nonexistent with Axos.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| Up to | $0 | None |
Benefits
- Up to APY on up to $50,000
- Unlimited ATM fee reimbursements
Drawbacks
- Earning the maximum rate of APY requires having a personal loan, direct deposits and trading or investing through Axos, plus maintaining $3,000 average daily balance
8. SoFi: Checking and Savings
SoFi’s combined high-yield checking and high-yield savings account allows you to earn a great rate on your checking balance and an even better rate on your savings balance.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| None | None |
Benefits
- Earn up to APY on your savings balance and APY on your checking balance
- No fees, including no-fee overdraft coverage
- Offers a sign-up bonus for setting up a qualifying direct deposit
Drawbacks
- Must set up direct deposit to earn highest APY on savings balance
- Must have both checking and savings
9. Presidential Bank: Advantage Checking
Having up to $25,000 in a Presidential Bank checking account could earn you the top-tier APY, making it a great option if you’re unable or unwilling to join one of the credit unions offering high-yield checking accounts.
| APY | Minimum Deposit | Monthly Fee |
|---|---|---|
| Up to | $500 | $5 |
Benefits
- Earn up to APY on balances of up to $25,000 and on balances over $25,000
- Up to $8 per month in ATM fee reimbursements
Drawbacks
- Free check writing is limited to only the first three per month; $3 per check thereafter
- High opening deposit requirement
- Must receive a qualifying monthly direct deposit of at least $500 and make seven or more qualifying electronic withdrawals per month — otherwise, APY drops to
- Must maintain minimum balance of $500 to avoid monthly fee
How High Yield Checking Accounts Work
The primary difference is that high-yield checking accounts pay more interest — a lot more, in some cases. As of November 2024, the national average rate for an interest checking account is just 0.08%. To see how much more your money grows with a high yield, consider this: A $1,000 checking balance would earn just 70 cents in interest with the average 0.07% APY. At 6.25%, which is the highest APY included in this list, the interest earnings soar to $62.50.
It’s important to note that you might need to meet more requirements to earn a high yield. The bank might require a higher minimum opening deposit, daily balance and number of debit transactions and/or direct deposits each month compared to a traditional checking account.
What to Look for in the Best High Yield Checking Accounts
When shopping around for a high yield checking account, there are several features you should consider:
Interest rates: Find the bank with the highest interest rate that you qualify for.
Monthly fees: Does the bank charge monthly maintenance fees? If so, can qualify for the fees to be waived?
Minimum balance requirements: If the account requires you to maintain a minimum balance, is that possible for you? If not, you’re more likely to pay fees or lose out on higher interest rates.
ATM access and fees: Are there fees for using ATMs? Do they offer to waive some ATM fees?
Mobile banking options: Does the bank have a mobile app? If so, read the app store reviews to make sure it has the features you want.
How to Qualify for a High Yield Checking Account
Make sure you qualify to open the account you want. Some banks only give the highest interest rates to people who:
- Maintain high account balances
- Complete a certain amount of transactions
- Receive a certain amount of direct deposits
If you’re interested in a credit union, they often have membership requirements like living or working in a certain area.
The Pros and Cons of High Yield Checking Accounts
Although high-yield checking accounts have attractive interest rates, make sure you read the fine print:
Pros
Higher interest rates can help you earn money on your money
Checking accounts keep your money more accessible than other banking products that pay interest, like a CD account.
Cons
You may not qualify for the best rate
The interest rate isn’t “locked in” and can change at any time.
What’s the Difference Between a High-Yield Checking Account and a High-Yield Savings Account?
Whereas a checking account, high-yielding or otherwise, is meant to handle your day-to-day purchases and payments, a savings account is where you stash emergency funds and money you plan to spend later.
You’ll have an easier time finding a high-yield savings account than you will a high-yield checking account. However, the savings account will likely have more restrictions. For example, a federal law called Regulation D limits savings account holders to six convenience withdrawals per month. Convenience withdrawals include most withdrawals and transfers other than those you make at an ATM or in person at a branch location.
Regulation D was temporarily suspended in 2021 because of the COVID-19 pandemic and has not been reinstated yet, but some banks still impose limits. Exceeding the limit at those institutions can result in fees and account closure or automatic conversion of your account to a checking account.
Is a High Yield Checking Account Right for You?
High-yield checking accounts are worth it if you regularly keep a cash balance and meet the account requirements. However, it’s essential to monitor fees that might offset any earnings.
If you’re like most consumers, you want to earn as much as you can on your bank balances. That’s why you should carefully read account terms and conditions and consider any fees, requirements and limitations before opening any new account.
Consider the benefits and drawbacks of the high-yield checking accounts on this list to discover if one of them may be right for you.
High-Yield Checking Account FAQ
- Is there such a thing as a high-yield checking account?
- Yes. The average checking account interest is 0.8%. Many banks offer checking accounts with interest rates that are much higher. However, you will often have to meet requirements like minimum deposits.
- Are high yield checking accounts FDIC insured?
- If the bank is FDIC insured, then the high yield checking account they offer will also be FDIC insured.
- Do high yield checking accounts have minimum deposit requirements?
- Yes, some high yield checking accounts have minimum deposit requirements. Make sure you read the fine print before you open an account.
Emily Gadd, Daria Uhlig and Andrea Norris contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 13, 2024.
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