The Best High-Interest Savings & Checking Accounts Available Today

Written By: Steve Reeves

Savings & checking rates from traditional banks are awful.

Many offer just 0.01%.

Compare that to the 1.25% – 1.75% you’ll get from many major online banks.

When you park your emergency fund… You might as well make some money on that money instead of letting the bank keep it. Here are the top 3 high-interest savings & checking accounts available today…

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DebtZero Top Choice

Barclays® Savings

DebtZero Rating 5.0


Minimum Opening Balance


No Special Terms
Open An Account With Any Amount Of Money
No Monthly Maintenance


Higher Rates Available
No ATM Card

Highest APY%

CIT® Savings Builder

DebtZero Rating 4.3


Minimum Opening Balance


Highest Rate
No Fees
Signup Bonus Available With High Deposit


Minimum Monthly Deposit Required
Limited To 6 Transactions Per Cycle

High-Interest Checking

AXOS™ Bank

**This Is A Checking Account**

DebtZero Rating 4.6


Minimum Requirements
Direct Deposit & Use Of Rewards Debit Card Required


Earn Money From Your Checking Account
No Overdraft Fees
No Minimum Balance


Must Meet Minimum Requirements For APY%
Debit Card Transactions Required

What are High-Interest Savings & Checking Accounts?

Let me get this out of the way upfront…

Online accounts are safe and secure. The FDIC insures these accounts up to $250,000. You don’t have to worry about some hacker stealing your money. You also don’t have to worry about these banks going out of business and taking your money with them.

Many of these banks and credit companies operate online only. That means they don’t have the overhead most traditional brick and mortar banks have. They pass these savings over to their customers in the form of higher interest rates. That’s why there’s such a big difference in rate.

Why would you want to open one of these accounts?

It’s simply so you can make some money on your money. There’s no reason to let the banks keep those interest payments. While some of that money goes to their overhead, they are also investing your money and making money off of it themselves. It’s only fair they share some of the profits with you.

Also, as your emergency fund grows, and you sock away some money for things you want… like a vacation or buying a house…

You’ll be making extra money on that larger pot of money as it grows.

How Do You Sign Up For One of These Accounts?

In your current situation (getting out of debt)… you’ll want to find an account with a small opening balance requirement. $0-$250 Ideally, you’ll also want one which compounds on a daily basis instead of monthly or yearly. This will give you the largest return.

Other than that, simply find the one that offers the highest interest rate. Keep in mind some accounts only offer an introductory rate. So they’ll offer 6% on the first $1000 and then something like .05% on the rest of your money. The math doesn’t really work for us there in the long run.

The signup process is straight forward. Simply signup and transfer the money from your current account. If you don’t have an account set up you’ll need to get a money order.

What If My Credit Is Bad?

Even if your credit is less than perfect, you will most likely be approved for one of these accounts. If you’ve had some issues with unpaid bank fees or returned checks you may be denied. The banks use a system called ChexSystems to evaluate your banking history.

Under the fair credit reporting act, you are eligible to get a free copy of your ChexSystems report here…

ChexSystems Report

If you don’t qualify at the moment don’t stress. You simply need to signup for a second chance checking account.

There is an excellent one here…

Second Chance Checking

Sign Up Today

Okay! Here is a recap of the best high-interest accounts. Simply pick one and you’re good to go…


*Terms apply. Check with the financial institution for further qualifications. Every effort has been made to ensure the information is accurate and up to date. There are times however where the information does not match that of the financial institution.