With Americans saving their money much more wisely after the “Great Recession” it comes as no surprise that many of these consumers are searching for high yield savings accounts. Some of the accounts they are searching for include checking accounts from Ally Bank, Bank of America and Suntrust.


It is very important to understand that Ally Bank, Bank of America and Suntrust are some of the bigger banks that are currently available but there are also many other options. By doing your research online you may find local community banks that are offering very attractive interest rates on savings and checking accounts.

In fact, there are many local community banks that are currently offering interest rates above 4% on a checking account. Before assuming that you can apply for these types of accounts it is important to understand that you must be a resident of a specific county or area to submit an application.

It would be a wise decision to research local community banks in your area to determine if there is a high interest checking account available for you. You may be surprised to find that there are community banks that will offer yields as high as 5% on a checking account.

Author: Heather Best