7 highest APY checking accounts
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Most bank accounts pay pretty paltry interest rates, but you can still find some safe places to store your cash that offer a decent return.

Bankrate examined rewards checking accounts at 52 financial institutions throughout the United States. Nearly half of them pay at least 2 percent APY. Some accounts offer significantly higher yields.

But while you can grab more interest, you’ll need to watch out for restrictions — like balance caps — and requirements that make these accounts more than just passive investments.

Here are the 7 top-paying high-yield checking accounts.

Coulee Bank

Location: La Crosse, Wisconsin

APY: 2.65 percent

Who can get an account? Available to Wisconsin, Minnesota and Iowa residents

Restrictions: Yield paid on balances up to $15,000; higher balances pay 0.10 percent APY

Lake Michigan Credit Union

Location: Grand Rapids, Michigan

APY: 3 percent

Who can get an account? Available nationally

Restrictions: Yield paid on balances up to $14,999; higher balances pay 0 percent APY

Need to build an emergency fund? Check out these high-yield savings accounts.

Great Lakes Credit Union

Location: North Chicago, Illinois

APY: 3 percent

Who can get an account? Available nationally

Restrictions: Yield paid on balances up to $10,000; higher balances pay 0.10 percent APY

Ouachita Independent Bank

Location: Monroe, Louisiana

APY:3.01 percent

Who can get an account? Must be opened at a branch in Bastrop, Bossier City, Monroe, Shreveport or West Monroe, Louisiana

Restrictions: Yield paid on balances up to $15,000; higher balances pay 0.25 percent APY

Ready to start investing? Check out today’s top CD rates.

Consumers Credit Union

Location: Waukegan, Illinois

APY: 3.09 percent

Who can get an account? Available nationally

Restrictions: Yield paid on balances up to $10,000; higher balances pay 0.01 percent APY

BECU

Location: Tukwila, Washington

APY: 4.07 percent

Who can get an account? Available to Washington state residents and employees, current or former Boeing employees or family members, anyone associated with the NW Credit Union Foundation or the University of Washington Alumni Association and Oregon residents and employees in certain counties (Benton, Clackamas, Columbia, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill)

Restrictions: Yield applies to first $500; higher balances pay 0.05 percent APY

Not earning much interest on your savings? Compare high-yield money market accounts.

Northpointe Bank

Location: Grand Rapids, Michigan

APY: 5 percent

Who can get an account? Available nationally.

Restrictions: Yield applies to first $10,000; higher balances pay 0.10 percent in simple interest

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