Archive for the 'High Interest Checking Accounts' Category

Generous 4.25% APY from Florida Central Credit Union

When opening a new checking account, a high interest rate is the first thing people usually look for. And what’s not to love? Getting the highest growth and return for your money is what we’re all after.

This is exactly what the Florida Central Credit Union had in mind when it introduced its Ultimate Checking Account. Ranking on top of the rewards checking trend these days with its whopping 4.25% APY, it provides the best in checking account offers.

The Ultimate Checking Account

The 4.25% APY is applicable to balances of up to $15,000. This is a far cry from Southern Bank’s 4.01% and First Federal Bank’s 3.50% APY on the same balance amount. These runners-up are trailing far behind the Ultimate checking account, which also offers considerable APY rates for the following conditions:

2.75% APY – If only three qualifications meet the $15,000 balance
1.00% APY – If balance is over $15,000
0.10% – If no qualifications are met

Qualifying for it

What do you need to do in order to get the optimum interest rate of 4.25%? First off, you must meet several requirements, which you should comply to qualify monthly:

 12 debit card purchases post and clear at the least
 1 Direct Depositor or Automatic Payment post and clear
 Loan balances should be no less than $5,000
 Have paperless eStatements

If you fail to meet all qualifications, you can still wait out for the next cycle, while enjoying the 2.75% APY. And while waiting, you can still have unlimited debit card and check transactions, whilst maintaining the 0.10% base rate. As for the total $5,000 loan balances, keep in mind that these should not include market mortgages and credit cards. Plus, you are not required to have a minimum balance just to earn rewards.

Along with these, you also get to have free check cards, receive paperless bank statement, online banking, plus a round-the-clock telephone banking. Great returns and convenience all at once?That’s the Ultimate checking account.

About Florida Central Credit Union

Since its birth in 1958, the Florida Central Credit Union rapidly expanded to carry out its mission of creating a better community charter that caters to the banking and financial needs of people. Over the years, it has grown exponentially. With its recent revamp in the year 2006, stronger credibility became its new cornerstone. This led to the merging of several credit unions in the area under the flagship of the Florida Central Credit Union.

Get 4.09% APY on a Checking Account with Consumers Credit Union

Looking for a checking account that offers high interest? Consumers Credit Union is offering a high interest of 4.09% APY on their Free Checking Account. An interest rate as high as that is difficult to come by, even with long term certificates of deposit. So for those who want to take advantage of high interest on their regular checking account, here are the details of the promotion:

The Promotion

The 4.09% Interest is available today until June 30, 2012. Aside from this generous rate, you also won’t have to worry about paying any administrative or ATM fees. Below is the list of their available rates and tiers:

* 4.09% APY for accounts with a maximum of $10,000 that meet qualification requirements.
* 0.56% APY for deposits between $10,000 and $25,000 that meet qualification requirements.
* 0.35% APY* for balances over $25,000.00 that meet qualification requirements.
* 0.01% APY* for members whose qualification requirements are not met.

It seems that the better rates are only given to those who satisfy their requirements. So what exactly are these?

The Requirements:

* completion of 12 debit/check point of sale purchases without using your PIN
* one direct deposit, one pay one bill or ACH debit with the use of Consumer Credit Union’s free online billing system
* use of online banking at least once every month
* enrolling in online eStatements

If it happens that you can’t meet all four requirements stated above, you may still avail of free online banking and free online bills payment.

Benefits Of Free Checking:

Even if you can’t comply with all the requirements, there are a lot of good things that Free Checking can offer you. First, there is no minimum balance required and no ATM fees. You also get to have a free Visa Debit Card, free mobile banking, free online banking and bills payment, and free eStatements. Plus you also get unlimited check writing. Overdraft privileges are also offered protecting you from overdraft charges.

Who Can Apply?

Anyone can apply for this free checking account. Even those who already have accounts with Consumers Credit Union. Non members may also join by paying a one-time fee of only $5.

About Consumer Credit Union

The credit union is located in Lake County, Illinois and has no membership requirements. It was established back in 1930 and is also insured by the NCUA.

For those who are still looking for a great free checking account, then now may be the time to get one especially with the incredibly high interest rate they offer. The sooner you apply, the more time your money can grow.

Berkshire Bank Gives 1.20% on Rewards Checking Account

Berkshire Bank has currently made some changes on their rewards checking account. This new version is what they call the Super Power NOW Checking and some of its perks include a good 1.20% interest rate. Most checking accounts don’t have an interest rate, so for those who make it a practice to keep money in their checking account, having an interest would really help boost your earnings. Aside from the rate, an interesting thing to note is that Berkshire Bank has decided to eliminate the need of debit card usage.

What Are The Requirements?

Before, the checking account used to require 6 debit card purchases that amount to the total of $100 per statement cycle. Today, this requirement is eliminated and all consumers have to do is make a direct deposit of at least $500 either from a salary or pension. If these terms are not met, then the interest rate may be waived. A downside to the checking account is that if the minimum balance of $1,500 is not maintained, a monthly fee of $10 will be imposed.

In order to open an account, a visit to any of their branches must be made. Berkshire Bank Branches can be found in New York City, Brooklyn, Bloomingburg, Harriman, and Goshen. Branches can also be found in some locations in New Jersey such as Ridgefield and Teaneck.

How The Rate Compares

The rate on this promotional checking account is announced to last until April 30, 2012 so it’s best to take advantage of the rate at the earliest time possible. This account is ideal for those who don’t like using debit cards. This rate is also competitive to other banking institutions such as Flagstar bank with a 1.25% rate, and UFB Direct with 1.30%. This annual rate from Berkshire is higher than the highest nationally available among CD rates which is 1.15% from CIT Bank. Berkshire bank is an FDIC Insured bank that has roots since 1871.

The Good Ones: Banks Who Still Offer Free Checking

With the sudden barrage of debit card fees and the plummeting interest rates, consumers are wondering if all banks are going downhill. Luckily for us, there are still some banks who are sticking to their free checking promotions, and who continue to offer great rates. For those of you who want to transfer banks, but are unsure about joining a credit union, here are some banks that may be worth your while:

1. Ally Bank – This bank has been around for a long time, with over 90 years of experience. It has been dubbed as one of the best banks in 2011 by Money Magazine and it serves over 15 million customers nationwide. Ally still offers a free checking account with no monthly maintenance fees for the everyday management of your checking account. Ally also offers competitive CD rates and is often one of the top providers of the best CD rates. They also give out interesting promotions such as the Raise your Rate CD and the No Penalty CD.

2. Classic Bank -For the regular checking account, Classic Bank advertises a monthly fee of $7.50 for its checking account. However, this only applies should your balance fall below $750. Aside from that, Classic Bank also offers a totally free checking account with absolutely no minimum balance and no monthly fees. If that’s not enough, Classic Bank is also giving away a rewards checking with a whopping 3.01% APY. How’s that for high interest?

3. Incredible Bank – This bank was featured by CNN as the one of the top online banks because of its high yield checking and no ATM fees. Right now the checking account can offer a yield of as much as 1.06% APY on balances up to $249,000.

4. PNC Bank – Although PNC Bank is best known for its student loans and mortgages, it also offers a free checking account which can be rare nowadays. PNC Bank offers free ATM transactions, no monthly service charge, free online banking and bills payment, plus unlimited check writing. Also, there is no minimum monthly requirement to keep your account free.

These are only some of the banks who still offer totally free checking accounts and high interest rates. For sure there are more banks out there who may have better deals to offer. If your bank is offering a great rate or charges less in fees, feel free to share by commenting below.

Great Rewards Checking Account at Texas First Bank

Texas First Bank logoTexas First Bank is offering an awesome High Yielding Checking Account to its local customers.

If you live in SE Texas this may be an offer you want to take a look at.

You will earn an unprecedented 3.25% APY on your Checking account.  This would be a very high yield on a savings account let alone a checking account.

Not only will you earn high interest on the balance of the account, but the checking account itself is free.  Plus you will be eligible for ATM fee refunds from ATM’s all over the nation.

Check our the other Rewards Checking Account Offers.

Of course there is some other details and fine print so here you go:

  • 3.25% APY on balances up to $10,000
  • 1.01% APY on portion of balances over $10,000
  • 0.05% APY if monthly qualifications are not met (qualifications below)
  • Nationwide ATM fee refunds (up to $45 per month)
  • No minimum balance
  • No monthly service fee
  • Unlimited check writing
  • Free check card
  • Free online banking with bill pay
  • Free direct deposit
  • Free telephone banking
  • Free mobile banking
  • Free eStatements
  • $50 deposit to open

And here is what it takes to remain qualified to receive the 3.25% APY:

  • Make 10 check card purchases each statement cycle
  • Receive monthly eStatements
  • Set up 1 recurring direct deposit or ACH auto debit

These three things are pretty simple to accomplish withing a given monthly cycle.  If you do not qualify for a particular month you will receive the standard .05% APY for that month, but this is not permanent.  Once you meet all the qualifications for any month after you will receive the 3.25%* and ATM refunds for that month.  (*For balances up to $10,000, and 1.01% on the remaining balance.)

Texas First Bank is FDIC insured and services customers in SE Texas. For more info and to read all the fine print visit here.

You can also find our great list of checking account specials.

Reward Checking Paying The Highest Interest

There are still banks out there paying 4% on high yield checking accounts and are open to anyone, anywhere.

It’s amazing to see these banks still paying 4% because you won’t find these kinds of returns with any top CDs, savings or money market accounts. It’s hard to find a better deal than with these reward checking accounts.

Most CD rates are paying significantly less than they were a year ago, September 2009 and yet these reward checking accounts have stayed the same or close to 4%.

If you are looking for the best rates then reward checking might be the way to go. The only problems you will face are their requirements for receiving the high interest rate.

These are banks paying 4% APY on balances up to:

  • $25,000 from First Clover Leaf Bank. The My Great Rate Checking is easy to obtain by meeting a few of their requirements. First Clover Leaf Bank has three branches in Edwardsville, IL and one in Wood River.
  • $25,000 from Danversbank. The Free Rewards checking account will pay 4.01% on balances up to $25,000. Be sure to read their monthly requirements for obtaining this great rate.
  • $25,000 from Baltimore County Savings Bank.
  • $10,000 from Capital Bank. Their Smart Checking account will pay you 4.01% and has 32 branches in North Carolina.
  • $10,000 from AmericanNet Bank. Find their Reward Checking account to view the requirements for earning 4%.

All reward checking accounts require you to follow a few rules to earn their high interest. Usually they want you to actually use their services, instead of just opening an account and stashing your money there.

Most reward checking accounts will have you using your debit card at least 10 times a month, opt in for online banking and will require you to have a direct deposit set up on a monthly basis. For any month you do not meet the minimum requirements your earnings will drop to their average interest rate, some are as low as 0.10%.

Reward Checking accounts are different than Checking Account Promotions.

All of these banks offer great Reward Checking and are available to all US residents in any of the 50 states.

Reward Checking From East Carolina Bank

If you live near an East Carolina Bank, they are offering a checking rewards account that is paying 4.01% APY on any balance up to $25,000 and 1.01% APY on balances over $25,000. I believe you have to be a resident of North Carolina, where you will find these banks. If for some reason you do not meet the requirements for this rewards account the interest rate falls to 0.05% APY. The rewards checking account also comes with $20 in refundable ATM fees per statement cycle.

Here is what you need to do to qualify for the reward interest rate on a monthly basis:

  • Make 10 debit card purchases
  • 1 direct deposit or bill pay
  • Receive e-statements

Many banks who offer these high reward accounts usually require you to actually use their bank for most of your transactions. This keeps people from just opening accounts, placing funds in the account and leaving it alone while you earn the higher interest rates. This will also help the bank generate funds.

The minimum deposit required for this account is $100.

The East Carolina Bank has a savings account that is offering 1.5% APY on any balance up to $50,000. The portion of your account balance over $50,000 will be paid 1.01% APY. The savings account has a minimum $200 balance to avoid the $2 monthly service charge.

To find a branch near you, visit the East Carolina Bank site. These banks are located in Washington, Leland, Morehead City, New Bern, Currituck, Hatteras, Engelhard, Williamston, Wilmington, Hertford, Greenville and Columbia, North Carolina.

East Carolina Bank has a 2 of 5 star soundness rating from Bankrate and is FDIC insured

First Federal CD Rates Offered

First Federal is now offering a 5 year CD rate of 3.5% APY with a minimum deposit of $1,000 and a 3 year CD rate of 2.65% APY with a minimum deposit of $20,000, this rate drops to 2.40% APY for a $1,000 minimum deposit. Both of these CDs come with an early withdrawal penalty of 180 days’ interest.

The First Federal CDs are limited to residents of North Carolina, South Carolina, Georgia and Florida. You can apply for one of these CDs online and transfer funds through ACH transfer.

You can lock the rate by submitting your application online. The maximum you can deposit into one of these CDs is $50,000 and upon maturity First Federal will mail you a check.

First Federal is also offering a high yield interest checking account called Moolah Checking and is currently paying 2.51% APY for any account up to $25,000. You can find branches in North and South Carolina.

First Federal is rated 3 of 5 stars from Bankrate and is FDIC insured.

You can visit their website here to find more up to date CD Rates.

Want to become a Millionaire? Its easy.

Becoming a millionaire may not be as difficult as you think.  If you can wrap your head around the fact that you are not going to “Get Rich Quick”, well about 99.9% of us won’t, you are on your way to retiring a millionaire. 

Becoming a millionaire takes time and financial awareness.  Investopedia has a great piece which lays out 6 Simple Steps to $1 Million.

  1. Stop Senseless spending – If you do not need it, don’t buy it.  That money can be saved and used to build wealth.  If you build wealth now you can buy whatever you want later.
  2. Fund Retirement Plans ASAP – Are you putting away in a retirement account? No, then start now.
  3. Improve Tax Awareness – Many very good tax deductions are available to those that seek them.  These savings add up to amazing amounts over all the years of your life.
  4. Own Your Home – There is no gain in renting a home.  And now with house prices bottoming out it is a great time to buy and build equity. 
  5. Avoid Luxury Wheels – Depreciation, that is all I really need to say.  If you avoid a huge car payment now, invest that money instead you’ll be able to pay cash for whatever car you want once your a millionaire.
  6. The Bottom Line – Saving is how you reach the 7 figure mark.  Start early and start now. 

I love how Investopedia concludes this article, they say, “Spend wisely and save diligently, your million-dollar dreams are well within reach.”

If you plan to start investing and saving now you can use our resources to help you along the way.  Check out our best CD rates and our Best Interest Checking Accounts.

High Yield Checking Account At 4.0% APY

Michigan Interest Checking AccountLake Michigan Federal Credit Union is offering a fairly nice high yield checking account. They are located in Michigan but have opened their doors to customers nationwide, so if you live outside of Michigan you can open this high yield checking account. The account is called “Max Checking Account” and provides an interest rate of 4.0% APY on deposits up to $15,000.

Details of the account:

  • Free! No fees or minimum account balance requirements
  • 4% APY on balances up to $15,000.
  • A max of $15/month in surcharge ATM withdrawal fee refunds.
  • Free MasterCard debit card.
  • Unlimited check writing
  • Free online banking
  • Free phone banking
  • Direct Deposit with Free automatic transfers
  • Free online bill pay with Direct Deposit (usual cost of $5.95/month)
  • 24-hour access to your funds

There are four monthly usage requirements with this account:

  • Direct deposit into your LMCU account
  • Minimum of 10 debit card purchases
  • Minimum of 4 logins to home banking
  • Sign up to receive eStatements/eNotices

You can learn more about the high yield checking accounts (sometimes referred to rewards checking accounts), visit our interest checking account page to learn more about these rates.

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