Before believing a 4.9% headline, verify the moving parts.
This checklist is educational and general. It does not evaluate any real institution or product.
| APY wording | Confirm the number is APY and see whether compounding assumptions are disclosed. |
| Eligibility | Look for new-customer rules, region limits, new-money requirements, or required activity. |
| Balance tiers | Check whether the rate applies to all cash or only to a capped portion. |
| Fees | Monthly maintenance fees can reduce the practical value of a rate. |
| Rate changes | Variable rates can move up or down after account opening. |
| Coverage | Verify deposit insurance directly with the institution and official insurance tools. |