Other rewards checking accounts pay higher interest rates, although the balance that earns the elevated rate is often limited. You may also need to jump through some hoops to earn the bonus rate.Some banks offer rewards checking accounts , which may earn cash back on things you buy with your debit card. Those who make frequent purchases using a debit card would benefit the most from this type of checking account.Bankrate’s compound interest calculator allows you to plug your investment amount, timeframe and ...