Elements Financial 5% APY Checking Account; Rate Guaranteed for 1 Year – Doctor Of Credit

Update 3/1/23: Rate is now 5%. Hat tip to SV

Offer at a glance

• Interest Rate: 5% APY, guaranteed for 1 year
• Availability: Nationwide
• Hard/soft pull: Soft
• ChexSystems: Yes (note: they are Chex sensitive).
• Credit card funding: None
• Monthly fees: None
• Min/Max: $20,000 maximum
• Insured: NCUA

The Offer

Direct Link to offer

• Elements Financial High Interest Checking account is offering 5% APY on balances up to $20,000. Must make 15 qualifying transactions per month (Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals.)

 

Avoiding Fees

This account has no monthly fees as long as you have paperless statements.

Our Verdict

It’s nice that the rate is guaranteed for at least a year, looks like it drops to 2% after that first year. The requirements to trigger the 4% APY are also very easy with a nice high maximum. I suspect a lot of readers will be interested in this account and we will add this to our list of the best savings accounts.

Hat tip to reader Paul W