LOS ANGELES, June 29, 2015 /PRNewswire/ -- Today's highest checking account rate is 7.50% APY and belongs to Landmark Credit Union, according to GOBankingRates' latest survey of checking account interest rates. GOBankingRates assessed more than 4,000 banks and credit unions to rank the best checking account rates available today. National, online and local bank and credit union checking accounts were considered, and the top 10 rates were identified for both national and local institutions.
For the full ranking and review of the best checking account rates today, visit: http://www.gobankingrates.com/checking-accounts/study-best-checking-account-rates-today/
"Checking accounts aren't meant to be treated as savings vehicles," said Casey Bond, GOBankingRates editor-in-chief. "But that doesn't mean interest rates aren't important. In a low-rate environment, every bit counts. Additionally, institutions that offer competitive rates also tend to charge fewer fees, which are increasingly difficult to avoid these days."
10 Best National Checking Account Rates:
| Rank |
Financial Institution |
APY |
| 1 |
EverBank |
1.40% |
| 2 |
Bank of Internet USA |
1.25% |
| 3 |
BankUnited |
1.05% |
| 4 |
Nationwide Bank |
0.60% |
| 5 (tie) |
iGObanking.com |
0.25% |
| 5 (tie) |
Huntington Bank |
0.25% |
| 7 |
Capital One 360 |
0.20% |
| 8 |
Presidential Bank |
0.12% |
| 9 |
Zions Bank |
0.10% |
| 10 (tie) |
Arvest Bank |
0.05% |
| 10 (tie) |
Commerce Bank |
0.05% |
| 10 (tie) |
Union Bank |
0.05% |
| 10 (tie) |
Wells Fargo |
0.05% |
10 Best Checking Account Rates From Local Banks and Credit Unions:
| Rank |
Financial Institution |
APY |
| 1 |
Landmark Credit Union |
7.50% |
| 2 |
Seattle Metropolitan Credit Union |
6.14% |
| 3 |
Gateway Metro Federal Credit Union |
6.02% |
| 4 (tie) |
School Employees Credit Union of Washington |
6.00% |
| 4 (tie) |
Georgia Heritage Federal Credit Union |
6.00% |
| 6 |
Consumers Credit Union |
5.09% |
| 7 |
SAC Federal Credit Union |
5.01% |
| 8 (tie) |
On The Grid Financial |
5.00% |
| 8 (tie) |
Honor Credit Union |
5.00% |
| 8 (tie) |
America's Credit Union |
5.00% |
Key Insights:
Go local: Wisconsin-based Landmark Credit Union's Premium Checking tops the charts for having the best checking account rate today at 7.50% APY. Local financial institutions offered the highest checking account rates today, with the No. 10 spot beating the national average of 0.22% APY by more than 22 times.
Portion control: The caveat to highly competitive checking account rates offered by local financial institutions is that these rates are only available for a portion of balances.
Online banks: For those who prefer digital banking, several of the top 10 national banks are online, many of them boasting no monthly maintenance fees as long as certain criteria are met.
Methodology
Data was compiled via the GOBankingRates interest rate database and verified against the individual institutions' websites. Annual percentage yield was based on the highest available for a personal account on balances of $50,000 or less and on the minimum deposit required to open an account. For the complete methodology, visit GOBankingRates.com.
About GOBankingRates
GOBankingRates.com is a leading portal for personal finance and consumer banking information, offering visitors the latest on everything from finding a good interest rate to strategies on saving money, investing for retirement and getting a loan. Its editors are regularly featured on top-tier media outlets, including U.S. News & World Report, Forbes, Business Insider, Daily Finance, Huffington Post and more. It specializes in connecting consumers with the best financial institutions and banking products nationwide.
Contact:
Roxy Barghahn
GOBankingRates.com
[email protected]
310-297-9233 x 202
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SOURCE GOBankingRates
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