Dedicated to Deposits: Deals, Data, and Discussion

6.00% Savings Account for $75k+ Deposits, Open to All (Kaiser Federal Bank)


Kaiser Federal Bank is offering a new savings account called the Dream Savings that may be a good deal for those with large deposits. It's a tiered savings account with a rate of 6.00% APY for balances over $75k. The APY for balances between $50k to $75k is 5.00% APY. The lowest rate is 2.02% APY for balances between $100 and $15k. There's no monthly service charge as long as the balance remains above $100 ($3/month otherwise). Below is the full rate tier structure:

Tier Min Balance APY
1 $100-$15k 2.02%
2 $15k-$30k 2.50%
3 $30k-$40k 3.00%
4 $40k-$50k 4.00%
5 $50k-$75k 5.00%
6 $75k+ 6.00%

It's a brand new account so there's no yield history. According to customer service rep., it's expected to remain high for at least a month. As with all savings accounts, you never know how long the high yields will last. But at least there's only a small minimum balance requirement. Also, according to the CSR, the account is available to those outside of California. The account does have some downsides. A big one is a limit of one withdrawal per month. Below is a list of the account features based on the website and info from the CSR:
  • 6.00% APY for balances of $75k
  • Minimum initial deposit is $100
  • Minimum balance to avoid $3/month fee is $100
  • Only 1 withdrawal per month permitted
  • No checks or ATM card available
  • Withdrawals can be done by requesting a check (no charge)
  • No ACH transfer system available
  • Allowed to make ACH debit initiated at another bank
  • Can be opened by phone or at a branch
  • No hard credit inquiry according to CSR during application
  • Similar savings account available in an IRA

The bank has branches in the California cities of Bellflower, Covina, Fontana, Harbor City, Los Angeles, Panorama City, Pasadena and Santa Clara.

The bank has been FDIC insured since 1999. It has a 4 out of 5 star safe and sound rating at

Credit for this find goes to Carol who mentioned this in the finding deals post. Thanks!

Comment #1 by Anonymous posted on
Anyone know about any early closing fee?

Comment #2 by Anonymous posted on
I called the bank. They said there's no fee for closing.