Ouachita Independent Bank in Monroe, Louisiana, offers a 3.01% annual percentage yield on its OIB Reward Checking with a middling balance cap. Bankrate’s 2016 High-Yield Checking Survey breaks down the returns you can get with each account and the hoops you’ll have to jump through to get them.
|Notes: *OIB Rewards Checking: Available nationally, but must be opened in person. *Either 1 direct deposit or automatic payment per month is required. E-statements are required. All ATM fees reimbursed, if requirements are met. Balance above $15,000 yields 0.25%.|
|Is it offered nationwide?||Yes*|
|Number of monthly debit transactions required||12|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|APY above cap||0.25%|
*See notes section for more details.
Bankrate.com canvassed banks, thrifts and credit unions Feb. 16-22, 2016, and displays data on 56 high-yield checking accounts.