If you’re looking for a high yield checking account, the only way you’re going to find any success is if you look at reward checking accounts. Probably the best checking account in the market today is the High Interest Checking Account that’s being offered by Carthage Federal Savings and Loan Association . This checking account earns up to 2.05% APY.

The minimum deposit and maintaining balance are a bit steep, though, at $2500. If you have a lot of funds to keep, though, this account will work to your advantage. The maximum amount you can keep in this checking account is $25,000. Compared to the regular checking accounts from the same bank, the interest rate here is definitely higher.

For the complete details of the account’s features, you may visit the bank’s website. According to bank representatives, you don’t have to keep your account active to earn the maximum yield. However, you do need electronic statements. Some of the most attractive features of this account include:

• Free access to ATMs across the USA
• Automatic $0.10 reward per signed debit transactions
• Free orders of checks
• Free online banking access
• Free online bill payments

While you only need $25 to open the account, you need to keep $2500 minimum in your account if you want to dodge the $8 monthly service fee. Another clincher is that you have to visit one of their branches to process your application. For those who aren’t familiar with the bank’s branches, you can find them across New York, specifically in Watertown and Carthage.

In terms of soundness and safety, the bank tops the list. It has very high ratings, earning five stars from BauerFinancial.com and four stars from Bankrate.com. You may want to check the bank’s website for updates before opening this checking account. The rates tend to be fickle, these days.

Carthage Federal Savings and Loan Association has been part of the FDIC since 1951. This can be verified through FDIC Certificate # 28942.