No Monthly Requirement
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If your goal is to increase your savings, Interest Checking can be an effective way to build cash reserves without locking funds away in a savings account.
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Interest Checking FAQ
What ATM system can I use?
Paramount Bank is part of the Money Pass network of ATMs. However, you can use the most convenient ATM to you.
Are there ATM fees for out-of-network transactions?
A third-party ATM may charge a convenience fee per transaction.
Do I need to make a certain number of transactions to get the interest?
No, you do not need to hit a certain number of transactions per month in order to receive the active interest rate benefit.
Will the interest rate change?
Changing interest rates on deposit accounts is a normal reality for banks across the country. However, Paramount Bank will work to benefit our customers as some of the highest-paid interest checking account holders in the country.
The Annual Percentage Yield (APY) and the Rate of Interest Checking Account is 3.00% as of November 25, 2022 for accounts with balances up to $100,000.00; accounts with balances over $100,000.00 will be paid 0.10% on the portion above $100,000. Depending on the balance in your account, the APY will range from 3.00% (if your balance is $0 – $100,000.00) to 0.10% (if your balance is $3,000,000.00). Rates are subject to change daily and fees may reduce earnings. $100.00 minimum initial deposit is required to open an account. No minimum balance required to earn the APY. The account must be funded within 30 days to remain open. Call 833-731-0229 for the most up to date rates. Member FDIC.