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What is an interest-bearing checking account?

Whether it’s called an interest-bearing checking account, interest checking account, or high-yield checking, this is a type of checking account where the account holder can earn interest.

What is interest earning checking account?

Interest earning checking account definition is simply to earn interest, but that can vary widely. Typical interest rates offered by checking accounts are from 0% to 0.5%. Interest bearing checking accounts can offer APY up to 5.30%, but many also offer interest rates of 1% to 3%.

How much interest does a checking account earn?

Many traditional checking accounts with big banks earn no interest at all, and some that do earn interest pay just 0.01% or 0.02% APY. If a checking account has competitive rates, it may be referred to as a high-yield checking account. Only a small portion of interest checking accounts earn rates comparable to savings accounts.

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