Should I get a checking account that pays interest?

These accounts may also require a larger minimum balance to avoid monthly fees. It is always a good idea to compare checking account fees and terms to see which account and fee structure will cost you less for the way you actually bank.

Tip: Because interest rates on deposit accounts are currently very low, fees and minimum balance requirements usually have a much bigger impact on the net value of a checking account than any interest you might earn on a checking account.