Best Savings Account Rates

Checking account is a type of transactional account where the primary interest of the account holder would be to ease daily transactions by issuing checks and using debit cards. Like savings accounts, banks do provide interest rates for checking accounts.

Checking Account Rates from US Banks

Let us discuss checking rates and / or benefits offered by some of the top banks of US. Interest rates of most other banks closely follow the general rates offered by the below discussed banks.

Ally Bank offers checking accounts at two different interest rates depending upon the balance. For balances greater than 15000 USD one would get an interest rate of 1.15% APY and for balances below 15000 USD one would get 0.50% APY.

No initial deposit is required to open a checking account. There is also no restriction on minimum monthly balance. There are no transaction fees, ATM fees, debit card charges etc.

EverBank offers a very high checking account rate of 1.46% APY. A minimum balance of at least 100$ needs to be maintained in checking accounts. The official website of the bank bears an announcement of 2.25$ bonus rate (as on Feb, 2010) for the first three months.

With EverBank checking account one can pay bills from internet phones, transfer funds between EverBank and other banks, avail telephone banking etc.

ING Direct calls its checking account scheme as 'Electric Orange Checking'. Balances below 50,000$ would get an interest rate of 0.25% APY, balances below 100,000$ would get 1.34% APY and balances equal to and above 100,000$ would get 1.40% APY.

Free transactions include, all debit card transactions and other online bill payments. The accounts are FDIC insured.

HSBB calls its checking account as 'Online Payment Account'. HSBC's online payment account yields an interest of 0.85% APY. With this account one can easily send one time payments or recurring payments, access more than 400,000 ATMs, transfer funds across banks etc.

Perkstreet Financials offer checking accounts with attractive benefits. It takes only few minutes to sign up an account. The initial deposit required to activate is just 25$.

The official website of the bank doesn't mention about interest rates but instead promises a cash back of 1% on debit card transactions. Customers can pick free coffee or music in place of 1% cash back as well.

Customer service is available throughout the day and is exceptionally good.