As proud members of the Sun City West community, we at Sun Canyon Bank are always looking for ways to help you make the most of your hard-earned money. Today, we want to shine a light on a financial tool that often goes unnoticed but can significantly boost your savings – interest-earning checking accounts.

What Are Interest-Earning Checking Accounts?

Interest-earning checking accounts are a unique blend of the flexibility of a checking account and the earning potential of a savings account. Unlike traditional checking accounts, these accounts pay you interest on the balance you maintain, allowing your money to grow while still being easily accessible.

Why Choose An Interest-Earning Checking Account?

Here are five compelling reasons to consider opening an interest-earning checking account with Sun Canyon Bank:

  1. Earn While You Spend: With interest-earning checking accounts, you can earn competitive interest rates on your balance. This means that your money is working for you, even as you go about your daily transactions.
  2. Flexibility and Convenience: These accounts offer the same conveniences as regular checking accounts, such as unlimited debit card use, online banking, and access to mobile apps. You can pay bills, make purchases, and transfer funds with ease.
  3. Monthly Fees: At Sun Canyon Bank, we believe in providing value to our clients. Our interest-earning checking accounts come with no monthly maintenance fees1, when balance requirements are met, so you can maximize your earnings without worrying about hidden costs.
  4. Enhanced Financial Growth: By earning interest on your checking account balance, you can achieve better financial growth compared to a standard checking account. This can be especially beneficial for those who maintain higher balances.

Tips For Maximizing Your Earnings

To make the most of your interest-earning checking account, consider these practical tips:

  • Maintain a Higher Balance: The more money you keep in your account, the more interest you can earn due to tiered balances2. Aim to maintain a balance that meets or exceeds the minimum required to earn the highest interest rate.
  • Set Up Direct Deposit: Setting up direct deposit will be helpful to maintain cash flow into your account, which in turn will allow you to earn more.
  • Use Your Debit Card Frequently: Some accounts may require a certain number of debit card transactions each month to qualify for the highest interest rate. Make it a habit to use your debit card for everyday purchases.
  • Monitor Your Account Regularly: Keep an eye on your account to ensure you meet all the requirements to earn the highest interest rate. Regular monitoring can also help you avoid any potential fees.

Open An Interest-Earning Checking Account Today

Interest-earning checking accounts are a hidden gem that can help you grow your savings while enjoying the flexibility of a checking account. At Sun Canyon Bank, we are committed to helping you achieve your financial goals with products that offer both value and convenience.

If you have any questions or would like to open an interest-earning checking account, please visit our website or stop by our branch in Sun City West. Our friendly team is here to assist you every step of the way.

1No fee if this account maintains a $5,000 minimum daily balance or $20,000 combined average balance in identified Sun Canyon CD, Gold Savings, Gold Money Market or Interest Checking accounts. A minimal $5 monthly fee will be charged when balance requirements are not maintained.

2Advertised Annual Percentage Yield (APY) accurate as of July 23, 2024. Sun Canyon Interest Checking has a minimum deposit of $1,000 to open account and minimum $2,500 to earn interest. Tiers for Sun Canyon Interest Checking include: $2,500-$24,999.99; $25,000-$49,999.99; $50,000+. Rates subject to change without notice. Fees may reduce earnings on the account. Withdrawal limitations may apply.