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As of December 2025 Karat offers up to 1.75% APY on checking deposits for Karat Premium members and up to 2.75% APY on deposits in our Automatic Tax Planning product for Karat Premium members. Karat Basic Banking members can earn up to 0.75% APY on their Automatic Tax Planning account. Please note that rates are tied to rate set by the Federal Reserve and are subject to change.