With so many types of checking accounts available, it's not hard to find one that best suits your needs. If you primarily want to earn more interest on your funds each month, consider an interest checking account.
What Is an Interest Checking Account?
This type of account is similar to a savings account in that it earns interest each month, depending on the balance. Some banks with interest checking accounts expect you to meet certain requirements to avoid fees, such as keeping a minimum balance in the account. At Ally Bank, however, there are no monthly maintenance fees. You'll get free standard checks, and you'll earn an interest rate that is among the most competitive in the country based on rates published by Bankrate.com.
Types of Interest Checking
Banks offer various types of checking accounts that earn interest. Some accounts are high yielding, which is ideal for those who keep high monthly balances. While these high-yield, reward checking accounts may offer a higher rate, they likely come with more restrictions. The Interest Checking Account at Ally Bank may be a great match for those who want to earn extra each month on their account balance but want to avoid the headache of numerous restrictions and fees. Ally Bank doesn't charge ATM fees, and even reimburses you for ATM fees charged by other banks nationwide. And of course, your money is always FDIC-insured to the maximum amount allowed by law.
Ally Bank, Member FDIC