By
Combining the convenience of a checking account with a return similar to a certificate of deposit (CD), our High Interest Checking Account lets you earn money while using your funds for everyday spending.
By meeting a few simple requirements, you can achieve a 3.50% annual percentage yield (APY) on balances up to $25,000*.
Learn more about our High Interest Checking Account
But is our High Interest Checking Account right for your banking needs? Here’s what you need to know about account requirements, making the most out of your money, managing multiple accounts, and more.
Requirements
Our High Interest Checking Account does not require a minimum balance to open. However, to earn the highest interest rate and avoid paying a maintenance fee, you’ll need to make least 15 point of sale transactions of at least $10 each using your debit card each monthly statement cycle**. You’ll also need ACH or direct deposit payment(s) of at least $500 into the account each month.
Once you meet these requirements, you'll qualify for 3.50% APY on your High Interest Checking Account balance up to $10,000. High Interest Checking
| Balance (Qualifications Met)* | Annual Percentage Yield (APY) | Interest Rate |
|---|---|---|
| $0 - $25,000 | 3.50% | 3.45% |
| $25,000.01 & Over | 0.05% | 0.05% |
| Balance (Qualifications NOT Met)* | Annual Percentage Yield (APY) | Interest Rate |
|---|---|---|
| $0 & Over | 0.00% | 0.00% |
Still interested in high-interest checking? Here are a few things you should consider.
Credit card rewards vs. high interest checking
Between travel points, cash back, and specialized rewards, credit card providers offer a variety of incentives to encourage purchases made on credit. But depending on how much you spend, you could earn significantly more from the funds in your High Interest Checking Account by using your debit card instead.
You’ll need to account for rewards like travel points or specialized offers like discounts at retail stores. But with a 3.50% APY on your account balance up to $25,000, you could earn more once you qualify by making purchases using your High Interest Checking Account.
What if you have another account?
You can have a High Interest Checking Account and another (or several) checking or savings accounts open with Hills Bank simultaneously. But like weighing the pros and cons of a credit card and high interest checking, it’s worth considering how your current checking or savings account suits your financial needs before opening a High Interest Checking Account.
Generally speaking, you’ll want the High Interest Checking Account to be your primary checking account in order to meet the monthly deposit/withdrawal requirements. And naturally, the more money you have in the account, the more you’ll get back in interest (with one caveat: you’ll receive 3.50% APY on your qualifying balance up to $25,000, and .05% on amounts beyond that).
Our personal bankers can help you determine the best solution for your financial needs. You can start a conversation with a banker right now by using the chat button below!
Opening a High Interest Checking account
If you have more questions about whether a High Interest Checking Account is right for you, just stop by any of our locations to visit with a personal banker, or start chatting with a banker on hillsbank.com.
Ready to open a High Interest Checking Account now?
We hope to start earning you interest soon!
*APY = annual percentage yield. APY effective 3-4-2025
The variable rate and terms may change after the account is opened. Fees may reduce earnings. Personal accounts only. $50 minimum deposit to open. No minimum balance.
ELIGIBILITY REQUIREMENTS. In order for your account to earn an interest rate of 3.45% with an APY of 3.50% on balances up to $25,000.00 and earn an interest rate of 0.05% with an APY of 0.05% on any balances greater than $25,000.00, the following requirements must be met. You must have an ACH deposit(s) greater than or equal to $500.00 (Does not include transfers between accounts) and 15 Point of Sale (POS) or recurring debit card transactions greater than or equal to $10.00 each that have cleared during your monthly statement cycle. In addition, you must be signed up for online banking and enrolled in e-statements for your High Interest account. If you do not meet the requirements identified above, the entire balance will not earn any interest for that statement cycle.
**Standard carrier rates may apply. Check with your carrier to verify charges.
