Centennial Bank in Orem, Utah, is paying 3.00% APY on the Smart Checking Account through its online division, CBDirect.com.

That's a point or two less than the best rates on these types of accounts.

But -- unlike almost every other high-yield checking account -- there's no $25,000 or $50,000 limit on how much money you can have on deposit and earn that rate.

That's more than you can earn with all but the best 36-month certificates of deposit without having to lock up your money for at least three years.

Of course, you have to jump through all the usual hoops to qualify for that 3.00% -- make 10 check card purchases a month, receive one direct deposit and pay at least four bills online each month.

But there are the usual perks, such as free use of 37,000 Allpoint ATMs and three free bank-to-bank transfers per month.

(If you're unfamiliar with these, take a look at our primer on high-yield checking accounts.)

Compare CBDirect's deal to the high-yield checking account from Ouachita Independent Bank, which has 11 branches in northern Louisiana.

It's paying 4.01% APY, but only on balances up to $25,000. Anything above that earns a much more modest 1.01%.

Both CBDirect and Ouachita Independent accept applications from customers nationwide.

By Carolyn Siegel

Interest.com Associate Editor