12% Interest Savings Accounts
shieldSnaggyCodes Editorial Team
calendar_todayJun 15, 2026
schedule1 min read
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- Question: Are there any ways to get a 12% interest savings account?
Answer: There is something known as a rewards checking account, these accounts require you to complete certain requirements to receive a higher APY or interest rate. Common requirements are things like:
- Receiving a direct deposit
- Debit card transactions
- Being enrolled in eStatements
There are currently none of these accounts that earn at a rate of 12%. As the saying goes, if something sounds too good to be true, it usually is. You can find a full list of legitimate high interest APY accounts by clicking here.
If you see anywhere advertising such a rate make sure it’s:
- Offered by an American bank. Some international banks might try to offer these high rates, but keep in mind the significant currency risks and high chances of it being a scam.
- Federally insured. Make sure the account either has FDIC or NCUA insurance. This means if the financial institution or credit union becomes insolvent you can get your money back.
Originally published at doctorofcredit.com.
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