Five banks are still paying 4% on nationally available, high-yield checking accounts.
That’s a big change from a year or so ago, when dozens of high-yield or reward checking accounts were paying 4%, 5%, or more, to lure savers in the door.
But with the even the best 2-year CDs barely paying 2%, these checking accounts continue to offer the best returns available to most savers.
You can earn 4.01% APY on balances up to:
$25,000 in the Free Rewards checking account from Danversbank, which has 30 branches in the Boston area.
$10,000 with a Smart Checking account at Capital Bank, which has 32 branches in North Carolina.
You can earn 4.00% APY on balances up to:
$50,000 with an Absolute Checking account from ViewPoint Bank, which has 27 branches in the Dallas/Ft. Worth area.
That’s one of the highest caps we’ve ever seen on this kind of account.
The only drawback is that you must make 15 check card purchases a month to qualify for the rate, which is more than the 10 or 12 purchases required by most high-yield checking accounts.
(If you’re unfamiliar with how these accounts work, “The ABCs of High-Yield Checking Accounts” will explain all of the rules.)These accounts are open to savers in all 50 states and can be opened online.