best interest rates

Where could your money be earning the most? In many cases, the answer is at a local bank or credit union; these financial institutions tend to offer some of the highest deposit rates that help their customers earn more on their money.

But even when looking among local banks and credit unions, it can be tricky to find the best rate. That's why GOBankingRates made it easy with this survey that used our proprietary database to find the best deposit rate offered in each state. To find the best deposit rate in your state that you could be taking advantage of, click through to the next slide.

Alabama: 5.10% APY


Alabama interest rates

Guardian Credit Union has multiple locations in the Montgomery area and offers an impressive 5.10% APY on its Round-Up Savings account with interest paid quarterly.

Related: What Is the Average Savings Account Interest Rate?

The Round-Up Savings account is available with Guardian Credit Union's Young & Free Checking Account, which is available fee-free to young adults ages 18 to 25. When the account holder enrolls in the Round-Up Savings program, the credit union will automatically round each debit purchase up to the nearest dollar and deposit this "change" into a connected savings account. Guardian Credit Union matches these deposits by 50 percent the first 30 days and 5 percent every month after that, up to $300 a year.

Alaska: 3.50% APY


Alaska interest rates

Alaska residents have a smart option to earn more with MAC Federal Credit Union's (MACFCU) offer of 3.50% APY on its eChecking account for balances up to $10,000. MACFCU is based in Fairbanks, Alaska.

To earn this rate, account holders must meet a few requirements each month:

At least 12 signature-based debit card purchases

One or more direct deposit, automatic withdrawal or one bill-pay transaction

Enroll in MAC eStatements and maintain a valid email address

Log into the credit union's online banking

Limit paper checks to three or less

If these conditions are unmet, a 0.50% APY will apply.

Arizona: 3.00% APY


Arizona interest rates

1st Yuma Bank offers a 3.00% APY to Yuma residents with a Rate Rewards Checking account. This rate lets the depositor earn interest on checking account balances of $100 up to $25,000 if these qualifications are met each month:

At least 15 debit card transactions to the account

Enrollment in eStatements

One or more direct deposit

Signing on to online banking monthly

The bank customer must be a resident of Yuma County to open this account. If the requirements are not met, a 0.05% APY will apply.

Arkansas: 3.00% APY


Arkansas interest rates

The Interest Plus + Cash Back Account is a checking option offered by Heartland Bank with the option to earn up to 3.00% APY on balances up to $15,000.99. This checking account offers tiered rates of 2.00% APY or 3.00% APY for meeting certain requirements with a base APY of 0.05% APY. The following conditions must be met each month to qualify for the highest 3.00% APY:

25 debit transactions of $5 or more

At least one direct deposit or automatic payment

Sign up for eStatements instead of paper statements

Access online banking monthly

Meeting these requirements will also qualify the account holder for 0.50% APY on balances over $15,000.99, as well as a 0.25 percent cash-back bonus on signature-based Mastercard debit card purchases of $50 or more (up to $250 a month). The bank has locations in Little Rock, Bryant, Sheridan and Fordyce.

California: 7.00% APY


California interest rates

Schools Financial Credit Union in the Sacramento area offers a 7.00% APY on its Banking for Everyone Savings account. You can earn 7.00% APY on the first $500 deposited, but you have to use eStatements and any of the credit union's checking accounts. Also, to qualify for this high interest rate, you must utilize BillPay, direct deposit or payroll deduction.


Colorado: 3.00% APY


Colorado interest rates

Two different Colorado credit unions tied to offer the state's highest deposit rate of 3.00% APY on checking products: Partner Colorado Credit Union and Rocky Mountain Law Enforcement Federal Credit Union.

Partner Colorado Credit Union's Consumer and Business High Interest Checking offers rates up to 3.00% APY on balances up to $10,000 when these conditions are met:

Complete 20 signature-based debit card transactions of $5 or more per transaction each month

Sign up for e-statements

Use online or mobile banking

Rocky Mountain Law Enforcement Federal Credit Union has similar conditions to earn the 3.00% APY on its Kasasa Cash checking account:

Post at least 12 debit card purchases a month

Enroll in e-statements

Have at least one direct deposit/automatic payment (ACH) post and settle

Connecticut: 4.99% APY


Connecticut interest rates

Connecticut's highest 4.99% APY is offered by Nutmeg State Financial Credit Union (NSFCU) on its First Choice Checking account. This 4.99% APY can be earned on the first $10,000 deposited in the checking account for earnings of up to $499 annually.

Account holders must enroll in e-Statements and the ID Theft Protection Program and have a debit card to qualify for this rate. Additional conditions, like posting 12 or more debit card transactions and making at least seven electronic transactions, will also need to be met to earn the 4.99% APY.

NSFCU serves Hartford County, Middlesex County, Tolland County and New Haven.

Delaware: 2.25% APY


Delaware interest rates

Barclays Bank Delaware is an online bank based in Wilmington that offers high interest rates, like its 2.25% APY on a 60-month CD that's the highest in the state. With a Barclays Bank CD, your interest will compound daily, giving you maximum savings opportunities. Barclays Bank was also a top pick for GOBankingRates' rankings of the best CD accounts of 2015.

Florida: 3.25% APY


Florida interest rates

The Ultimate Checking account from floridacentral Credit Union carries the highest interest rate in Florida at 3.25% APY. This rate is available on checking account balances up to $5,000 for potential yearly earnings of up to $162.50. The Ultimate Checking earns this advertised rate and will also get account holders ATM refunds if they meet these requirements:

Post and settle 12 or more debit card purchases each month

Have at least one direct deposit or automatic payment (ACH) to the account

Enroll in eStatements

Have floridacentral loans with balances of at least $5,000

Account holders who don't meet the last condition for a loan will still be able to earn a higher rate of 1.75% APY. This credit union has locations in Tampa, Lakewood and other neighboring cities.

Georgia: 6.00% APY


Georgia interest rates

The rate of 6.00% APY is the highest in Georgia, offered by Georgia Heritage Federal Credit Union (FCU) on its E-Account Checking. This rate applies to the first $500 deposited in the account for annual earnings up to $30. Balances over $500 will earn interest at 0.10% APY.

The E-Account Checking account offers free features as well, including access to surcharge-free ATMs, unlimited check writing, free direct deposit and more.

Georgia Heritage FCU is based in Savannah and serves this city and surrounding communities.

Hawaii: 2.17% APY


Hawaii Interest Rates

Hawaii residents will get the highest rate in the state from Kaua'i Government Employees Credit Union, which offers a 2.17% APY on its 60-month share certificate. This account requires a minimum opening deposit of $1,000 (which would earn about $21 a year), and interest is paid quarterly and when the certificate matures.

Kaua'i Government Employees Credit Union primarily serves the community of Kaua'i in Hawaii.

Idaho: 2.50% APY


Idaho interest rates

CapEd Credit Union offers 2.50% APY on its High Yield Checking account. This rate is valid on balances up to $10,000 for potential earnings equal to about $250 a year. The rate is conditional upon the account holder taking the following actions:

Have one more direct deposit or automatic payment on the account each month

Post 12 or more debit card purchases each month

Enroll in eStatements

Meeting the above requirements will also get the High Yield Checking account holder ATM fee refunds of up to $25 a month. This account has no monthly fee or minimum balance requirements. CapEd credit union has branches in Boise, Meridian, Eagle and more.

Illinois: 3.00% APY


Illinois interest rates

The Ultimate Checking account from Great Lakes Credit Union carries a competitive rate of 3.00% APY on balances up to $10,000. But to get the highest interest rate in Illinois, account holders will have to meet some requirements:

A direct deposit of $500 or more each month

10 debit card purchases or more monthly

Enroll in eStatements

Log into online banking once monthly or pay one bill a month by Bill Pay

Meeting these requirements will also waive the $5 monthly fee on the account. Great Lakes Credit Union has locations through in the Chicago and surrounding area.

Indiana: 4.00% APY


Indiana interest rates

Indiana's highest interest rate of 4.00% APY is offered on checking accounts from two credit unions: Centra Credit Union and Elements Financial Federal Credit Union.

Centra Credit Union's High Interest Checking account offers 4.00% APY on balances up to $1,000. A 2.00% APY applies on balances of $1,000.01 to $5,000, and amounts above that earn 0.20% APY. And, you can waive the monthly and minimum balance requirement if you:

Use direct deposit once per month

Sign up for eStatements

Complete at least 15 debit purchases per month

Elements Financial Federal Credit Union's High Interest Checking is a similar product, offering the 4.00% APY on balances of $50 to $999.99. This rate is contingent on the account holder making 15 or more debit card purchases per month.  Enrolling in e-statements will also waive the $4 monthly fee.

Iowa: 3.25% APY


Iowa interest rates

Iowa State Bank customers who have a Kasasa Cash checking account can enjoy a 3.25% APY This rate is offered on balances of up to $25,000 for potential earnings of up to $812.50 a year. Account holders have to qualify for this competitive rate, however, by meeting these conditions:

Make a least 10 or more debit card purchases a month

Have at least one automatic payment or direct deposit post and settle

Enroll in eStatements

If these conditions are unmet, a 0.05% APY will apply. Iowa State Bank serves Orange City and nearby communities.

Kansas: 2.50% APY


Kansas interest rates

Quest Credit Union, based in Topeka, has a 2.50% APY on its iDeal Checking account. This rate applies on balances of up to $10,000 and requires the depositor to qualify by meeting these requirements:

Make 10 or more signature-based or credit transactions with the account's Visa Check Card each month

Authorize and clear one or more direct deposit or automatic payment each month

Enroll in e-statements

Kentucky: 4.00% APY


Kentucky interest rates

The Honors Checking account from Class Act Federal Credit Union offers a high 4.00% APY on balances up to $5,000, giving account holders the chance to earn up to $200 a year with this rate. This rate is contingent on the depositor meeting these conditions:

Making 10 or more debit purchases each month, with a combined value of $200 or higher

Setting up direct deposits from payroll or a retirement plan to the account

Enrolling in e-statements and logging into home banking at least once a month

Depositors who meet these requirements will also get free ATM fee refunds up to $25 a month. Class Act Federal Credit Union serves members in Jefferson County and surrounding areas in Kentucky, including Louisville.

Louisiana: 4.25% APY


Louisiana interest rates

Louisiana residents can turn to La Capitol Federal Credit Union for the state's highest interest rate of 4.25% APY. The credit union's All Access Advantage checking account carries this competitive APY and charges no fees.

The 4.25% APY applies to the first $5,000 in the account when the depositor makes 25 or more non-ATM debit card transactions in a month. When this condition is unmet, a 0.15% APY will apply. La Capitol Credit Union serves Baton Rouge and nearby communities in Louisiana.

Maine: 2.01% APY


Maine interest rates

Bar Harbor Bank & Trust customers who have an E-Choice Checking account can earn a 2.01% APY. This rate applies on account balances up to $10,000, giving depositors a chance to earn up to $201 yearly. But, account holders must qualify for this rate by doing the following:

Post 12 or more debit card purchases monthly

Have one or more direct deposit or automatic bill payment on the account

Access online banking monthly

Enroll in e-Statements

Maryland: 3.01% APY


Maryland interest rates

Destinations Credit Union in Parkville brings the state's highest rate of 3.01% APY to its Maryland members. Its Kasasa Cash checking account offers this competitive rate on the first $10,000 in the account when these conditions are met:

12 or more check card purchases

Enrollment in eStatements

Monthly use of online banking

If the depositor fails to do the above, a 0.05% APY will apply for that month. This account also refunds ATM fees up to $20 a month.

Massachusetts: 3.04% APY


Massachusetts interest rate

The Primary Savings account from Digital Federal Credit Union (DCU) offers the highest deposit rate in the state at 3.04% APY. Based in Marlborough, this credit union serves communities in Massachusetts and New Hampshire.

The 3.04% APY on the Primary Savings account is earned on balances up to $500 up to $15.20 yearly, after which a 0.05% APY applies. This account has a minimum deposit of $5 to open, and must maintain a balance over $5 to earn interest.

Michigan: 7.00% APY


Michigan interest rates

Michigan's highest rate is 7.00% APY, offered by Community West Credit Union with its checking account. Balances up to $2,000 are eligible for this rate, which would be $140 in annual earnings. This checking account rate will apply if account holders post direct deposits to their accounts totaling $200 or more each month and actively use their debit cards

Community West Credit Union serves Kentwood and surrounding areas.

Minnesota: 2.02% APY


Minnesota interest rates

Getting a rate of 2.02% APY is possible for customers of Center National Bank. It offers this rate on its Center Rewards Checking account on balances of up to $10,000 for depositors that meet certain requirements:

Post 10 or more debit purchases

Post and clear one or more direct deposit or automatic payment monthly

Enroll in electronic statements

Meeting these conditions will also qualify the account holder to unlimited nationwide ATM fee refunds. Center National Bank serves Meeker County and the surrounding area.

Mississippi: 2.00% APY


Mississippi interest rates

The five-year share certificate from Keesler Federal Credit Union carries a 2.00% APY, the highest rate offered by a Mississippi financial institution. The account requires a minimum balance of $1,000.

Keesler Federal Credit Union serves the Mississippi counties of Forrest, Pearl River, Harrison, Hancock and select census tracts of Jackson County.

Missouri: 6.02% APY


Missouri interest rates

Gateway Metro Federal Credit Union in St. Louis has an E*Hanced checking account that carries the state's highest rate of 6.02% APY. This can be earned on deposits up to $1,500 with potential annual earnings of $90.30.

However, this rate has qualifications that mus be met, such as enrolling in the credit union's e-package, which includes direct deposit, e-statements and use of online banking monthly. Depositors will also need to make 15 or more signature-based purchases with their debit card each month.

Montana: 1.65% APY


Montana interest rates

Montana's highest rate is the 1.65% APY offered by Rocky Mountain Credit Union on its 60-month CD. Depositors will need a minimum deposit of $1,000 to open this account.

Rocky Mountain Credit Union has branches in Montana cities, including Belgrade, Bozeman and Helena.

Nebraska: 5.01% APY


Nebraska interest rates

SAC Federal Credit Union serves Omaha and other communities, and those who have a Saver's Advantage Checking account enjoy an impressive rate of 5.01% APY. The 5.01% APY is earned on the first $1,000 in the account for potential earnings of up to $50.10 a year at this rate. However, account holders will need to meet these requirements to earn this rate:

12 debit card transactions totaling $120 or more each month

Monthly recurring direct deposits

eStatement enrollments

Nevada: 3.00% APY


Editorial Credit: Aneta Waberska / Shutterstock.com

Nevada interest rates

The Aspire Checking account from Greater Nevada Credit Union, based in Carson City, offers the state's highest 3.00% APY on balances up to $15,000. This gives account holders the chance to earn up to $450 a year. Earning interest at this rate, however, requires meeting these qualifications:

Post 15 or more debit card purchases a month

Have one direct deposit monthly

Enroll in eStatements

New Hampshire: 2.02% APY


New Hamsphire interest rates

Woodsville Guaranty Savings Bank offers a competitive 2.02% APY with its Go Checking account. This rate applies to balances up to $10,000 when certain conditions are met:

12 debit card purchases monthly

Log on to online or mobile banking

Enrollment in eStatements

Woodsville Guaranty Savings Bank is based in Woodsville, serving this and surrounding communities.

New Jersey: 2.00% APY


New Jersey interest rates

First Jersey Credit Union has New Jersey's best interest rate with its Bonus Checking account. The 2.00% APY can be earned on balances up to $10,000 but only if the depositor takes the following actions:

Have $500 in monthly direct deposits to the account

Enroll in E-Statements and online banking

Make 12 or more monthly signature-based debit card transactions

Meeting the above conditions will also get the account holder refunds of foreign ATM fees up to $15 a month.

New Mexico: 1.40% APY


New Mexico interest rates

The interest rate of 1.40% APY that's the highest in New Mexico is offered by The Florist Federal Credit Union based in Roswell. This rate applies to its 36-month share certificate, which credit union members can be opened with a deposit of $1,000 or more.

Read: 11 Best Credit Unions for CD Rates

New York: 4.00% APY


New York interest rates

Both the e-Checking and e-Savings accounts offered by the Bank of Greene County boast New York state's highest deposit rate of 4.00% APY. This rate applies to account balances up to $1,000. Deposits above the first $1,000 will earn 0.15% APY. The Bank of Green County serves the Hudson Valley Region of New York.

North Carolina: 2.01% APY


North Carolina interest rates

With locations in the Raleigh and surrounding areas, Coastal Federal Credit Union offers 2.01% APY on its Go Green checking account. This rate applies on balances of up to $50,000, giving account holders the chance to earn up to $1,005 yearly. This rate is conditional on the account holder making 30 debit card purchases a month; if fewer purchases are made, a lower rate will apply.

North Dakota: 1.76% APY


North Dakota interest rates

North Dakota residents can earn interest at a rate of 1.76% APY by opening a 60-month share certificate with Prairie Federal Credit Union. This CD requires a minimum balance of $10,000. Prairie Federal Credit Union offers another 60-year share certificate rate with a lower minimum balance of just $500 that earns 1.61% APY.

Prairie Federal Credit Union serves residents of Bottineau, McHenry, McLean, Mountrail, Renville and Ward counties of North Dakota.

Ohio: 10.00% APY


Ohio interest rates

Bridge Credit Union, headquartered in Columbus, offers the highest deposit rate in the country of 10.00% APY. This impressive rate is offered on the credit union's Diamond Dividends Checking account and applies to the first $1,500 of the balance. Depositors could earn up to $150 annually on a balance of $1,500.

But to earn the nations' highest deposit rate, account holders have to meet some pretty high qualifications:

Make 35 or more debit card purchases monthly

Enroll in e-statements

Use bill pay once every 60 days

Receive direct deposits to the account totaling $1,000 or more each month

Oklahoma: 2.55% APY



Another Kasasa Cash checking account from Halliburton Employees' Federal Credit Union offers the highest deposit rate in Oklahoma. This 2.55% APY can be earned on balances of up to $20,000 for potential annual dividends of $510. But the account holder will have to meet these conditions to secure this rate:

Complete 15 or more debit card purchases monthly

Have one or more direct deposits to the account each month

Enroll in E-Statements

During months when these qualifications are unmet, a 0.05% APY will apply. Halliburton Employees' Federal Credit Union is based in Duncan and also has locations in Texas.

Oregon: 5.00% APY


Oregon interest rates

Rivermark Community Credit Union offers a high 5.00% APY on its New Member Savings account. This rate can be earned on the first $1,000 deposited in the account, and amounts above that will earn  an APY between 2.09% and 5.00%. This offer is available to new members of Rivermark Community Credit Union only, and this account will be converted into a Regular Share account after one year.

Rivermark Community Credit Union serves the greater Portland area.

Pennsylvania: 3.04% APY


Pennsylvania interest rates

Pennsylvania's best deposit rate is offered by Erie Federal Credit Union. Its Dividend +Plus Checking account offers a 3.04% APY on balances of $500 to $25,000, giving account holders the chance to earn up to $760 yearly at this rate. The rate will be applied when the Dividend +Plus account holder enrolls in the credit union's EZ Money Manager and e-statements, and completes these actions each month:

Maintain an average daily balance of $500 or more

Clear 15 or more purchases

Use EZ Bill Pay to pay one or more bill

Erie Federal Credit Union serves Erie and Crawford counties in Pennsylvania.

Rhode Island: 2.10% APY


Rhode Island interest rates

The 2.10% APY offered on Greenwood Credit Union's 60-month CD is the best deposit rate offered by a Rhode Island financial institution. Opening this account requires membership with Greenwood Credit Union and a minimum deposit of $1,000.

This credit union serves Rhode Island communities, including Warwick and Kent counties.

South Carolina: 1.75% APY


South Carolina interest rates

CBC National Bank offers 1.75% APY on its 60-month CD. To qualify for this interest rate, customers must deposit at least $1,000 into the account. Account holders will need to make sure they keep their money in the account for five years, however, since a penalty might be imposed for early withdrawal.

South Dakota: 2.51% APY


South Dakot interest rate

American Bank & Trust has the highest rate offered by a South Dakota financial institution, offering the chance to earn 2.51% on Kasasa Cash checking balances up to $10,000. This rate applies when the following conditions are met:

12 or more debit card purchases post to the account each month

At least one automatic payment or direct deposit posts on the account

The account holder enrolls in eStatements

A 0.01% APY will apply if the depositor fails to meet these requirements. American Bank & Trust serves eight communities in South Dakota.

Tennessee: 2.02% APY


Tennessee interest rates

The Sky High Checking Account from Andrew Johnson Bank offers a high 2.02% APY. To qualify for this rate, account holder must have balance of $25,000 and below —anything over $25,000 will earn an APY of 0.25%. Account holders must also do the following each cycle:

Receive e-Statements

Log on to online banking at least once

Post and clear 20 check card transactions

Post and clear an Electronic bank draft or ACH deposit at least once

Texas: 3.56% APY


Texas interest rates

Coastal Community and Teachers Credit Union in Corpus Christi offers two checking account products that carry the 3.56% APY rate that is the highest in the state. The Bonu$ Checking and Real Checking accounts both give members of this credit union the chance to earn up to $356 a year on balances up to $10,000. Both accounts require the depositor to meet the following conditions for the 3.56% APY to apply:

Post 10 or more monthly debit card purchases

Have one or more direct deposit or automatic payment to the account

Log into online banking monthly

Enroll in eStatements

Utah: 2.25% APY


Utah interest rates

Wasatch Peaks Credit Union offers 2.25% on its Kasasa Cash Checking account. This credit union serves residents of Davis, Morgan and Weber counties in Utah.

Account holders will earn the 2.25% APY on balances up to $10,000 for potential annual earnings of up to $225. The Kasasa Cash Checking account from Wasatch Peaks Credit Union does require that account holders meet these requirements to earn the higher rate:

Post 12 or more debit card purchases each month

Enroll in e-statements

Log into online banking at least once monthly

Vermont: 1.75% APY


Vermont interest rates

Serving central and northwestern Vermont, Northfield Savings Bank offers the state's highest rate of 1.75% APY on its 60-month CD product. This rate is offered on CDs with balances of $1,000 or more. At maturity, the account will automatically renew.

Virginia: 5.05% APY


Virginia interest rates

Choice Plus Checking from Beacon Credit Union offers a rate of 5.05% APY to account holders. This rate is earned on balances of up to $2,500 when certain conditions are met:

Monthly direct deposit to the account

Average daily balance of $300 or more

Enroll in E-Statements

Post 15 debit card transactions each month

Beacon Credit Union serves Lynchburg and surrounding areas.

Washington: 7.52% APY


Washington interest rates

O Bee Credit Union in Thurston County offers a high 7.52% APY on its Savings Account on balances of up to $500. This gives members the chance to earn up to $37.60 a year on the first $500, along with 0.10%-7.28% APY on everything over that amount.

The 7.52% APY advertised rate requires the account holder to enroll in E-statements and meet one of the following conditions:

Direct deposits of more than $100 each month

Post three Visa debit card transactions

Be younger than 18 years old

West Virginia: 1.35% APY


West Virginia interest rates

The best deposit rate in West Virginia one of the lower "best rates" in all 50 states, but it is still a competitive 1.35% APY. This rate is offered by MVB on its 60-month CD. This bank offers a similar rate, 1.25% APY, on its Most Valuable Checking with Interest account on balances up to $10,000 when the account holder meets certain requirements.

Wisconsin: 7.50% APY


Wisconsin interest rates

The Premium Checking account from Landmark Credit Union is a high-yield product that gives account holders the opportunity to earn 7.50% APY. Landmark Credit Union has locations in the Milwaukee area.

This rate will be earned by members with E-Statement enrollment and direct deposits to their checking, and will be earned on the first $500 of the balance for potential earnings of $37.50 each year. Balances over $500 earn interest at the rate of 0.20% APY.

Wyoming: 2.27% APY


Wyoming interest rates

UniWyo Federal Credit Union in Laramie offers a rate of 2.27% APY on its Xtraordinary Checking account for balances up to $15,000. Like many of the checking accounts offering the best rates in each state, Xtraordinary Checking requires account holders to meet the following requirements each month to qualify for the 2.27% APY:

Enroll in E-statements

Post 10 debit transactions or more each month, average $5 each or more

One or more direct deposit each month

Maintain an aggregate deposit/loan balance of $5,000 or more each month

Keep reading: What Are the Best Banks for Free Checking Accounts?

Methodology: GOBankingRates used its database which surveys rates from more than 4,000 financial institutions to identify the best deposit rate offered by a financial institution based in that state. Rates were surveyed throughout October, and the final best deposit rates for each state were verified against each financial institution's website and were accurate as of Nov. 20, 2015. The deposit products considered in this study were CDs and share certificates with terms up to five years, savings accounts, and checking accounts.

This article originally appeared on GOBankingRates.com: The Best Interest Rate in Every State

Show more