What is the best interest-bearing checking account?


Quick Answer

The checking account with the highest interest rate is offered by Boeing Employees Credit Union with an annual percentage yield of 4.07 percent, according to Bankrate's 2014 High-Yield Checking Survey. Consumers Credit Union offers 3.09 percent, and Great Lakes Credit Union and Lake Michigan Credit Union both offer 3 percent.

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Full Answer

High-yield checking accounts can make good cash investments, offering much higher yields than the average 0.29 percent return on one-year certificates of deposit. However, account holders must meet all of the requirements of the account, such as enrolling in electronic statements or making a minimum number of debit transactions per month. Without these fulfilled requirements, the interest rate drops, says Bankrate.

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