An interest-bearing checking account can be a powerful financial tool to help your money grow. At Tyndall, our Smart Checking account is that powerful tool. Let’s take a closer look at this popular account and what sets it apart from other financial accounts. 

What is an interest-bearing checking account?

The best checking accounts are the ones that reward you! An interest-bearing Tyndall Smart Checking account is a checking account that accrues interest/dividends at a set rate. Traditional checking accounts do not earn interest/dividends since they’re designed to be used to hold funds for everyday expenses. Savings accounts do earn interest, but the accessibility of funds is limited because these accounts are designed and intended to be used for long-term savings rather than everyday transactions. Tyndalls Smart Checking account that earns interest blends the best of these two accounts by offering an attractive rate, or annual percentage yield (APY) while allowing for greater accessibility of funds over a savings account. 

What are the benefits? 

There are several key advantages to opening an interest/dividend checking account: 

  • Accessibility of funds. Unlike a savings account, the funds in an interest-bearing checking account can be accessed at any time via debit card, paper checks, automatic electronic payments, and online bill payments. 
  • Interest. Interest will accrue on the account balance and be paid out monthly.
  • Security. Tyndall is insured by NCUA.
  • No fees. Tyndall's Smart Checking account has no fees! 
  • Banking benefits. Tyndall's Smart Checking account includes online banking, overdraft protection, mobile banking app, automatic payroll deductions, and more. You can also open a smart checking account online! 

What are the disadvantages? 

Interest-bearing checking accounts do have some disadvantages compared to traditional checking accounts. Some require you to pay a small monthly maintenance fee, but with a Tyndall Smart Checking account there are no monthly maintenance fees.

Why would a consumer choose an interest-bearing or dividend-bearing checking account over a savings account?

As mentioned, interest-bearing checking accounts offer the key features of checking accounts and savings accounts. This provides greater flexibility and makes these accounts an excellent option for an individual who is seeking to grow their money without tying it up in case they need to withdraw funds in the near future. 

A Tyndall Smart Checking account can be the perfect place to grow your money without tying up your funds. And if you open a Smart Checking Account between now and Sept 30, 2022, you have the opportunity to earn $50.00!* 

Learn more about Tyndall's Smart Checking account and begin earning today! 


* $50 offer is available for new or current members who do not have a Checking Account (Smart or Classic), open a Smart Checking account from May 15, 2022 - September 30, 2022 and complete the qualifying criteria. Criteria: 1. Set up bill pay and pay 4 bills in a 2 month period (from date account is opened). 2. Must deposit (direct deposit, mobile deposit, or ATM deposit) a total of $500 in a 2 month period (from date account is opened). Offer not available to any current member who has a Classic or Smart Checking account; converted accounts do not count. $50 offer will be deposited into your Smart Checking account 90 days after completing the qualifying criteria. You must be 13 years of age to open a Smart Checking Account. In order to open an account for members who are under the age of 18, an adult joint owner is required on the account. Membership required; NO membership fee applies.