Do Checking Accounts Earn Interest?

Can your checking account do more than hold your money? That’s a question that many savers and banking clients are asking. The answer? Yes—but not all checking accounts are the same. While checking accounts are designed for quick access to your funds rather than growth, some—called interest-bearing checking accounts—can also help your money increase while still keeping it within reach. Here’s what you need to know about interest-bearing checking accounts and if they are right for you.

Do Checking Accounts Earn Interest?

Absolutely! Interest-bearing checking accounts (also called investment checking accounts) specifically provide a unique opportunity to earn money on your balance while keeping your funds available for everyday use. They are less common than traditional checking accounts and typically come with certain requirements, such as maintaining a minimum balance. Why are they less common? Interest-bearing checking accounts often cater to individuals who maintain higher balances and prefer a flexible, all-in-one account for both spending and saving.

These accounts let you earn interest on your checking balance, similar to a savings account, but with the added flexibility of using your funds for daily expenses when you like. While the interest rates may not be as high as those for savings accounts or certificates of deposit, they offer a convenient way to grow your money without restricting access.

What to Look For in an Interest-Bearing Checking Account

If you are considering an investment checking account, here are a few things to keep in mind:

1. Competitive Interest Rates

The primary reason to choose an interest-bearing checking account is the opportunity to earn interest—no surprises there! You should look for banks offering tiered interest rates, where higher balances earn higher rates. Therefore, your account can do more than just store your money. It can grow with purpose.

2. Low Fees & Reasonable Balance Requirements

A good interest-bearing checking account helps grow your money without unnecessary hassle. Many of these accounts have balance requirements or monthly fees, so choose one with reasonable terms (like a manageable minimum balance to avoid extra charges).

3. Added Benefits

On top of earning interest, the best investment checking accounts offer useful added features. This could include easy access to ATMs, free checks, mobile banking apps, and robust security—each adding significant value to your banking experience.

Choose the Best Bank for Checking Accounts

Not all interest-bearing accounts are the same, and this is where Elite Investment Checking from Academy Bank shines. It combines competitive rates with practical benefits, making it a standout choice for hardworking individuals just like you.

Why it’s special:

• Tiered interest rates
• Easy mobile banking experience
• Free access to 38,000+ ATMs¹
• Complimentary standard checks
• Special loan discounts
• Get paid one day earlier with Early Pay²
• Free paper statements and eStatements
• Receive $50 when you refer a friend³

Whether you are looking for a more effective way to manage your money or simply want a checking account that works as hard as you do, Academy Bank’s Elite Investment Checking Account is a perfect choice.

So if you’re wondering, Can you invest with a checking account? With Academy Bank, the answer is clearly yes. You can even use a Compound Interest Calculator to learn how interest adds to your account balance.

It’s time to make your checking account a true partner in your financial goals. Open a checking account online today!