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What kinds of checking accounts yield a higher interest rate?
Answered By Chuck Ivens, Editor
There are different kinds of checking
accounts. It is better if you assess your
needs first and how you are going to use your
checking account. Then you can choose the
right checking account. Different types
include basic, free, interest-bearing, joint,
express, lifeline, senior/student, and money
market. You can yield a high interest rate
with a money market checking account. It is a
combination of savings and investment, though
you are required to maintain a high balance.
This type of account pays a much higher
interest than a basic checking or savings
account. If you don't write more than 5 check
a month, this is suitable for you.
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