There are several wonderful options for people who have the best in checking account by offer of rates.
The rates for these accounts can be as high as 4.
09% to even as low as 0.
25%.
In the olden days banks would attract their customers by the gifts of toasters and the like.
But, now customers prefer to see this in the form of the account rates that they get.
For every bank the checking accounts are extremely crucial as that is where most of their business comes from.
Types of Rates: The rates can be classified into the Rewards Checking or Interest checking accounts.
The reward checking account is the kind that offers the customer a premium rate if they meet their monthly requirements such as direct deposit, monthly online bill payment, electronic statements instead of paper based ones and check card.
Interest rates of Various Banks: The rates for checking vary from banking and financial institution to another.
However, some of the best ones are the Charter Bank in the state of Alabama, Georgia with an APY of 5.
01% and up to $25,000.
The other banks in the similar league are Southern Bank at 5.
01%, Kansas State Bank at 4.
55%, Focus Bank at 4.
51% and First Federal Bank at 4.
50%.
There are several different rewards that are linked with these accounts and as you do your daily banking transactions you can be collecting rewards which you can redeem for cash, travel or merchandise that is top notch.
This happens automatically and once the rewards are collected you will be able to redeem them easily.