High interest “Rewards Checking” account: 4.01% APY
These rewards checking accounts keep showing up in the BankVibe inbox. This one comes from Danvers Bank and is available to people throughout the country. Currently it yields a whopping 4.01% APY on all balances up to $25k with a much lower rate of 0.25% APY paid on all balances above that mark. Like most interest checking accounts you must meet the monthly requirements to receive the advertised rate.
Here are the terms, conditions and benefits of this account:
- 4.01% Annual Percentage Yield (APY) paid on daily balances up to $25,000, and 0.25% APY paid on all amounts above $25,000 each statement cycle the minimum requirements are met.
- To qualify for the Rewards Rate, account holders must complete the following each statement cycle: perform at least 12 debit card transactions, receive a monthly statement electronically, access online banking at least once, and receive a recurring ACH or direct deposit.
- Available on personal accounts only. If you do not meet the requirements per statement cycle, you will earn an APY of 0.25%, your account will still function as a Free Checking account, however, it will not receive ATM refunds for that time period. ATM refunds apply to non-DBK ATM Fees and other non-proprietary ATM surcharges. There is a fee for the Occasional Overdraft Privilege Service (OOPS) associated with this account.
