# Arrow Bank Elite Checking: 6.01% APY

Canonical: https://dealaka.com/offers/arrow-bank-elite-checking-rate

- Status: Limited reports
- Bonus: 6.01% APY
- APY: 6.01% (ongoing APY, variable rate)
- Requirement: Direct deposit + 10 debit txns + e-statements monthly
- Expires: no published end date
- Availability: Nationwide
- Institution: Arrow Bank
- Verified: Aug 18, 2026 against arrowbank.com
- Field reports: 0

## Summary
Elite Checking earns 6.01% APY on balances up to $5,000 when you meet monthly requirements: direct deposit, 10 debit card transactions, and e-statement enrollment. Balances above $5,000 earn between 6.01% and 0.05%. If you don't meet the requirements in a month, your entire balance earns 0.05% APY.

## Requirements
1. Enroll in online statements through internet or mobile banking.
2. Have a recurring ACH direct deposit.
3. Have a minimum of ten point of sale debit card transactions post in a statement cycle.

## Fine print that matters
- Variable rate account; APY may change at the bank's discretion.
- For balances above $5,000, APY ranges from 6.01% to 0.05% depending on account balance.
- If eligibility requirements are not met in a statement cycle, entire balance earns 0.05% APY and ATM surcharge rebates will not be provided.
- If online statement enrollment is not met, there is a $3 monthly fee for paper statements.
- Fees may reduce earnings.
- Without the monthly qualifications the rate is 0.05% APY.

## Sources
- arrowbank.com rate page <https://www.arrowbank.com/personal/checking> (checked Aug 18, 2026)

_This entry is reference information, not financial advice. Confirm current terms on the institution's site before you apply._