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.

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.

Incredible Checking Account Details:

* Interest rate of 1.06% APY for balances from $0-$249,000
* Interest rate of 0.80% APY for balances above $250,000
* $1,000 minimum deposit for account opening

It is surprising to note that balances above $250,000 have a lower interest rate than $250,000 and below. However, the 1.06% rate is certainly competitive especially since Incredible Bank only gives a 1.05% interest rate for their 13 month CD. Other checking account rates are 1.00% from ING Direct, Chesapeake Bank, and American Bank, 0.91% from Capital One, and 0.70% from Ally Bank

It’s important to notice that most checking accounts don’t even offer an interest rate on their balances. This is because some checking accounts from banks capitalize on promotions such as a bonus $100 and such. However, if you constantly use a checking account and you’re used to having a large amount in checking, then having an interest rate checking account would be the smartest move.

About Incredible Bank

Incredible Bank.com is a division of River Valley Bank that was established in 1967. It is an Internet only bank that allows their consumers to manage their money securely. The bank is FDIC insured, ensuring your money to as much as $250,000.

For those who realize the value of letting your money earn for you, then a checking account with high interest should be of use to you. Again, Incredible Bank produces some of the best rates for checking accounts, some that you won’t find in other banks.