Interest Checking


3.25% APY*

No Fees

No Monthly Requirement

Apply now for our 3.25% APY* Interest checking account.  $100 minimum deposit required at open.
Earn Towards Personal Goals. Interest Checking pays you a percentage based on how big your balance is.
Interest Checking gives you easy withdrawal access to your money. Account holders get a free Visa Debit Card and pay no fees at any ATMs in the MoneyPass network. With the Paramount Bank app, you can see all of your account information any time, day or night.

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 3.25% 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 314-731-0229 for the most up to date rates.  Member FDIC.