Update: This offer is no longer available. Visit our archive of “Rewards Checking Accounts” or “Interest Checking Account” to get updated offers from around the country. Variable account interest rates will likely remain at these low levels until 2014 according to the latest FED meeting regarding rates.
Last week’s theme on BankVibe was hunting down the nations’ best interest-bearing checking accounts, therefor I found it necessary to finally point out THE BEST of the best.
Currently United Federal Credit Union (Arkansas) has an “interest plus checking” account which is yielding an unheard of 6.01% APY on all balances up to $25,000 (0.25% APY on balances above $25k). One very noteworthy aspect of this interest rate is that United Federal Credit Union has guaranteed it until at least 2010! If you have been researching interest checking accounts lately then you have undoubtedly noticed the fact that they typically come with variable interest rates that are subject to change without notice, thus making this offer pretty lucrative in comparison.
How to qualify for the 6.01% interest rate:
- Enroll in eStatements – receive your statements electronically
- Have One Direct Deposit OR One ACH (Electronic Payment)
- Conduct a minimum of ten (10) Debit Card Swipe and Sign purchases (Credit transactions/Non-PIN based).
An important note from their fine print: A debit card purchase using your PIN will not count as a Debit Card Swipe and Sign purchases. All direct deposit, ACH and Debit Card Swipe and Sign purchases must post to your account by 6:00pm (EST) on the last business day of the month to count towards that month.
Additional benefits from this account:
- A whole range of FREE electronic services: Online Banking (PowerLink) with Bill Pay, instant eStatements and e-mail alerts, and online account aggregation.
- Your savings are insured to at least $500,000; a combination of $250,000 provided by the National Credit Union Administration (NCUA), a U.S. federal government agency, and $250,000 by Excess Share Insurance (ESI), a private deposit insurance company.
- Overdraft protection from your savings account(s), along with Courtesy Pay protection up to $1,000 is available to save you embarrassment and expense of Non-Sufficient Funds (NSF) items!
- Free private and personal Financial Planning and Financial Seminars
- Free Medallion (Signature Guarantee) and notary services