With a catch, this checking account offers an 8% APY.
Horizon Federal Credit Union, based in Pennsylvania, provides a checking account with an 8% annual percentage yield (APY), which is higher than most high-yield savings accounts and other checking accounts.
Although only residents of specific Pennsylvania counties are eligible for this account, you don't have to settle for a low-interest checking account. Explore further to discover high-yield checking accounts that can help your money grow.
How to get a checking account earning 8% APY
To open a Horizon Advantage Checking Account, you must meet certain qualifications, but you will earn a high rate of interest once you do.
To become a member of Horizon Federal, you must either live or work in one of the specified Pennsylvania counties.
- Bradford
- Centre
- Clinton
- Columbia
- Lycoming
- Montour
- Northumberland
- Potter
- Sullivan
- Tioga
- Union Counties
In order to receive the account's 8% APY, you must register for direct deposit, enroll in e-statements, and make at least 15 debit card purchases per month. It's important to note that the 8% APY applies only to balances up to $25,000, with any amount above that limit earning only 0.25%.
Other checking accounts that earn you high APYs
You may not be eligible for this account due to geographical limitations, but you don't have to settle for a checking account with no interest. There are several interest-bearing checking accounts available that offer around 5.00% APY on your balance.
The All America Bank® Ultimate Rewards Checking Account provides a 0.25% APY if you don't meet the requirements, which include making at least 10 monthly debit card transactions and receiving electronic statements.
The Presidential Bank Advantage Checking account offers a 4.62% APY on up to $25,000 (3.62% APY thereafter) or 0.10% APY if you don't meet the requirements, which include a monthly direct deposit of at least $500 and at least 7 electronic withdrawals from the account every month.
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