Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Average Rewards Checking Rate Rises to 2.090% While High-Yield Checking Rate Falls to 2.050%
Rewards checking rates rose 0.076 percentage points to 2.090% between October 29 and November 4, while high-yield checking rates fell 0.006 percentage points to 2.050%. Free, business and credit union checking rates held steady.
Average rewards checking rates rose 0.076 percentage points to 2.090% between October 29 and November 4, from 2.014%. Average high-yield checking rates fell 0.006 percentage points to 2.050%. Free checking rates held steady at 0.725%, business checking rates held steady at 0.404%, and credit union checking rates held steady at 0.251%.
Key takeaways
- Rewards checking rates rose 0.076 percentage points to 2.090%, from 2.014% on October 29, on 302 institutions and 439 rates.
- High-yield checking rates fell 0.006 percentage points to 2.050%, from 2.056%, on 613 institutions and 1,119 rates.
- Free checking rates held steady at 0.725%, business checking rates at 0.404% and credit union checking rates at 0.251%.
- A $5,000 balance earns about $104.50 a year at the 2.090% rewards checking average and about $36.25 at the 0.725% free checking average.
Rewards checking rates rose 0.076 percentage points to 2.090%
Checking rates by account category, national average APY since April 13
Average APYs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
Rewards checking rates averaged 1.697% on October 14, 2.059% on October 22, 2.014% on October 29 and 2.090% on November 4. High-yield checking rates averaged 1.695%, 2.081%, 2.056% and 2.050% on the same dates. Accounts in both categories often carry activity requirements such as a minimum number of debit transactions or a direct deposit.
Free, business and credit union checking rates held steady
Free checking rates averaged 0.760% on October 22, 0.722% on October 29 and 0.725% on November 4, on 1,867 institutions and 4,137 rates. Business checking rates averaged 0.385% on October 22 and 0.404% on both October 29 and November 4, on 487 institutions and 1,129 rates. Credit union checking rates averaged 0.235% on October 22, 0.253% on October 29 and 0.251% on November 4, on 294 institutions and 399 rates.
Change since October 29, by checking category (percentage points)
This report's averages, October 29 to November 4. Green bars rose; red bars fell.
Checking APYs by account category, October 29 and November 4
| Account Category | October 29 APY | November 4 APY | Change Since October 29 |
|---|---|---|---|
| Rewards Checking ▲Debit-use & direct-deposit accounts | 2.014% | 2.090% | ▲ +0.076 |
| High-Yield Checking ▼Rate-focused accounts, often with activity requirements | 2.056% | 2.050% | ▼ -0.006 |
| Free Checking ▲Broad no-fee market | 0.722% | 0.725% | ▲ +0.003 |
| Business Checking Business & commercial accounts | 0.404% | 0.404% | ■ 0.000 |
| Credit Union Checking ▼Share draft accounts | 0.253% | 0.251% | ▼ -0.002 |
| Compare live offers: high-yield checking accounts · why have both savings and checking · compare checking rates | |||
| All APYs are national averages of what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates. This comparison runs October 29 to November 4, 2026. Category averages reflect products matching MonitorBankRates.com's checking classification. Source: MonitorBankRates.com. | |||
Checking averages since the jump in mid-October
High-yield checking rates averaged 1.695% on October 14 and 2.081% on October 22; rewards checking rates averaged 1.697% and 2.059% on the same dates. Since October 22, high-yield checking has moved to 2.050% and rewards checking to 2.090%. The Federal Open Market Committee held its target range at 3.75% to 4.00% on October 28. Checking rates are variable, and each bank decides whether and when to change them.
Interest on a $5,000 checking balance at the November 4 averages
On a $5,000 balance, the 2.090% rewards checking average pays about $104.50 a year, the 2.050% high-yield checking average about $102.50, and the 0.725% free checking average about $36.25. Business checking at 0.404% pays about $20.20 and credit union checking at 0.251% about $12.55. Rewards and high-yield accounts usually come with requirements, such as a set number of debit card purchases or a monthly direct deposit, and monthly fees on a checking account can exceed the interest earned on a small balance. The budget calculator sets monthly income against expenses, and the savings calculator projects a balance over time at a chosen rate; both start from today's average rates, computed daily from more than 8,000 banks and credit unions, and state figures can be loaded. Texas checking rates lists offers in that state, and category history is on our checking rate trends page.
Checking averages on November 4
Rewards checking rates average 2.090%, high-yield checking 2.050%, and free checking 0.725%. The rate an individual account pays depends on the institution and on meeting any activity requirements.
Data Coverage & Methodology
All APYs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually offering to depositors, not promotional teaser rates or rate aggregator estimates.
As of November 4, 2026, the latest collection ran November 3, 2026. Category counts overlap because an institution can offer accounts in more than one category.
This report is for general information and is not financial advice. The APY any account holder receives depends on the institution, balance, and account requirements; confirm current offers with institutions before making decisions.
