High interest checking and savings accounts are available from a variety of lenders who can offer customers more than just a minimum percentage on their accounts. Most of these high interest checking and savings accounts can be found either with online banks or credit unions so anyone who is in need of a higher interest account might want to start their search there.
Online banks have been known to have high interest accounts for years as there are less operating costs for an online institution. There are also a vast majority of online banks that are quite reputable and are FDIC insured. Also, online banks go to extreme lengths to make sure that privacy is protected for their customers and the accounts for an online bank are accessible 24 hours a day, in most cases.
Credit unions can also be a great source for a high interest checking or savings account for anyone who may be close to a reputable credit union. Credit unions usually require that you go through some sort of a credit check or background check in order to become a member. Since you have to be a member of the credit union, you are essentially the individual that the credit union is concerned with and not a board of directors or investors. This is one reason that credit unions are able to offer their members a higher rate on certain accounts.
However, in some areas, online banks and credit unions might not be the only place in which one can find a high interest checking or savings account. There are many local community banks in areas across the nation that have outstanding interest rates when it comes to a checking or savings account. When researching, you may want to look for small, local banks in your area that might provide you with a great interest rate on a checking or savings account.