Highest yielding money market account rates in Kansas

Below are the highest yielding money market account rates serving citizens of the state of Kansas.

If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.
After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Kansas, we have found that in some instances you will lock in more competitive rates with national institutions rather than local ones (if you are eligible). Before committing to one of the banks/credit unions listed below, you may want to browse through our national money market rate tables.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.

Top 2 money market rates in Kansas:

(click on the institution for more information)

• Bank of Tescott: Tescott, KS. Money market account yielding 2.25% APY with a minimum balance of $4,000. If your account falls below the $4k mark you will only receive an APY of 1.0%. An initial deposit of $500 is required to open this account. Bank of Tescott has four branch locations all of which are in Kansas. They have two branches in Tescott, one in Salina and one in Lincoln. The were organized as a corporation on March 18, 1887. One of the signers of the Certificate of Incorporation was T. E. Scott, who is known as the founder of Tescott. This bank has seen significant growth throughout the past century. In 1937 the bank managed $416,000 in assets, they now manage over $157 million (as of 2005). Contact: (785) 283-4217
• Offerle National Bank: Offerle, KS. Money market account yielding between 1.65% APY and 1.87% APY depending on balance amount. They have not disclosed these rates on there website, however we have been tipped off that these are accurate. Contact the bank for exact APY’s and tiers. Offerle National Bank also has a very respectable rewards checking account offer which is yielding 5.01% APY if all requirements are met. These requirements will include a certain amount of debit card transactions per month, the set-up of e-statements, an automatic debit set-up and possibly other requirements. This bank has 9 branches in Kansas and two in Colorado. This bank goes by different names depending on which city it is located in. Contact the main office at: (785) 866-2920

Both of the above institutions are federally insured by the FDIC. If you live in Kansas and know of a better money market rate offered through your local institution, please share by leaving a comment.

Kansas CD (certificate of deposit) rates: Top 3

Below are the best CD rates available to residents in the state of Kansas. These come in the form of 3 month CDs, 15 month CDs, and 20 month CDs. The reason their maturities are not on the traditional 6 month increments is because they are promotional savings products. Generally when a bank or credit union offer a promotional CD rate it will be accompanied with an odd maturity.

The local CD rates available in Kansas are significantly higher than the rates you would find nationally available for the same maturities. A couple weeks ago we attempted to settle the debate of choosing between local CD rates vs. national CD rates but it ended rather inconclusively. The bottom line is that it varies from state to state.

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Top 3 CD rates: Kansas

(clicking on the institution will bring you to their rates page)

• CoreFirst Bank and Trust: Topeka, KS. 3 month promotional CD yielding 2.25% APY with a minimum balance of $10,000. This promotional product became effective today and is only available for a limited tme. They call it the “Pick your term” deposit because you can select the maturity you want (between 3 and 12 months). The rest of CoreFirst Bank and Trust’s certificates of deposit come with $1,000 minimums. CoreFirst also has a “32 month option” CD which is yielding 3.10% APY with a minimum deposit of $1,000. If you would like to make a deposit but aren’t located near a physical branch you can make remote deposits with their internet banking options.
• Bank VI: Salina, KS. 15 month promotional CD yielding 2.75% APY with a minimum deposit of $500. Bank VI has a few noteworthy certificate of deposit promotions going on. Besides the 15 month offer they have a 20 month special and a 26 month special yielding 2.80% and 2.85% respectively. They call these “Double Jump CD Special” and the “Sparkler Special.” They came into effect on the 27th of July and all require at least a $500 deposit. Bank VI has two locations, one in Salina and the other in Geneseo, Kansas. They have internet banking options as well and may be able to accept deposits without a physical visit.
• Famers National Bank: Stafford, KS. 20 month promotional CD yielding 3.00% APY with a minimum deposit amount of $1,000. This is currently their only promotion and comes with a higher deposit minimum than their traditional CD’s which come with a minimum deposit of $500. This rate became effective on the 1st of August. Farmers National Bank is an independently owned Kansas bank providing banking products and services since 1886. Farmers National Bank was organized under a National charter in Stafford. The original bank is located in Stafford, KS. They have three locations in Stafford, Buhler and Inman, Kansas.

All of the above institutions are federally insured by the FDIC and your deposits will be protected up to $250,000. If you live in Kansas and know of a better rate offered by your local institution, please share by leaving a comment.

15 month certificate of deposit “Special” through Bank Six

Most of you probably haven’t heard of Bank Six (or Bank VI), a small, 2 branch bank located in Kansas. However, if you happen to reside in Kansas and are looking for a 12-24 month CD yielding an exceptional rate then this may be your best play.

Currently BankVI has a few “Special” CD rates which are only available for a limited time. The most notable of these products is their 15 month CD which is yielding an exceptional APY of 2.80% with a minimum deposit of $500.

BankVI’s Certificate of Deposit Terms and Conditions:

All CDs are available as IRAs, and all CDs with a maturity of 1 year or more, compound quarterly. CD’s with less than a year maturity pay simple interest at maturity.
A substantial penalty may be imposed for early withdrawals on all BANK VI Certificates of Deposit.
Investment in a CD requires $500 minimum to open and earn interest — $100,000 maximum per customer, except where noted.
All depositors are federally insured as Member FDIC. Certain restrictions do apply, so inquire before making any investment.