The Average Checking Account Interest Rate in May 2026

The national average interest checking rate reflects what interest-bearing checking accounts pay across all U.S. banks. Most standard checking accounts pay nothing or close to nothing at all. Earning interest on a checking balance typically requires seeking out accounts built for it.

What is the average checking account interest rate?

The national average interest checking account rate is 0.07% APY as of May 2026, according to FDIC data. Most standard checking accounts pay nothing at all — the national average is pulled up by interest-bearing checking accounts, which remain a small share of all checking accounts.

For most people, a checking account is not where money grows. It is where money moves. The best checking accounts can offer a modest interest rate, low to now fees, broad ATM access, and other perks, like no overdraft fees.

How checking account rates have changed over time

Unlike savings account rates, checking account rates have barely responded to the broader interest rate environment. The national average checking account interest rate has hovered between 0.03% and 0.08% since 2021 — a range so narrow it is nearly flat — even as the Federal Reserve raised rates to a two-decade high.

Best checking account interest rates vs. the national average

The national average does not reflect what is available at the most competitive banks. High-yield checking accounts — offered by some online banks and credit unions — pay meaningfully more than the national average, though they often come with conditions such as minimum monthly debit transactions or direct deposit requirements.

For those who keep larger balances in checking, shopping for a higher rate can make a measurable difference over time.