Author Topic: High interest checking / savings - can you beat 3%?  (Read 2424 times)


  • 5 O'Clock Shadow
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  • Posts: 14
High interest checking / savings - can you beat 3%?
« on: March 30, 2014, 06:42:21 AM »
I'm tired of earning a measly .75% on my emergency fund, and it seems like the best interest rates on cash accounts are coming from high-yield checking accounts. These come with a set of hoops to jump through, but for me they're not particularly onerous. They usually consist of having a monthly direct deposit, signing up for electronic statements and e-bills, and doing a number of monthly debit transactions.

As of today (3/30/14), here's the best rates I could find:
Inova Federal Credit Union 3% on up to $20,000.
Heartland bank: 3% on up to $15,000.

Before I sign up for one of these, I'm wondering: does anyone out there know of a better deal? I know you can get like 6% with Mango and similar prepaid debit services, but the max for them is $5,000 and it's too many hoops to jump through, including a paper check to get your money back out. I'd be looking for at least a $10,000 balance.