High-Interest Reward Checking Account at a Massachusetts Bank (Clinton Savings)

Update 8/02/11: The top yield has fallen to 1.90% APY. See bottom of the post for the rate history.

Clinton Savings Bank has started a reward checking called Total Access Checking. It pays 1.90% APY on balances up to $25K (0.25% above) and refunds ATM fees if the following monthly requirements are met: 1) 10 debit card transactions, 2) one direct deposit or ACH debit, 3) receive electronic statements, and 4) review account information via online banking. If these are not met, the rate drops to 0.15%. There's a $10 minimum to open the account. After it's opened there are no minimum balances or monthly service charges.

This is a pretty typical reward checking account except for the $50K cap is better than typical $25K. It's interesting to note that most of the banks in Massachusetts that are offering these reward checking accounts have a higher than average cap. Several have a $100K cap. As the reader who emailed me info on this deal speculated, perhaps the early move by Danvers Bank to put a $100K cap on its reward checking has compelled other MA banks to follow.

Branches are located in the Massachusetts cities of Berlin, Bolton, Boylston, Clinton, Sterling and West Boylston. The bank is FDIC insured (Certificate # 90181).

Thanks to the reader who emailed me info on this account.

Other Reward Checking Accounts

For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.

Rate History:
08/09/11: 1.90% APY up to $25K; 0.25% over; 0.15% base
06/20/11: 2.15% APY up to $25K
12/02/10: 2.25% APY up to $25K
07/01/10: 2.51% APY up to $25K
09/09/09: 2.76% APY up to $50K; 0.35% over
04/15/09: 3.01% APY up to $50K; 0.80% over
01/02/09: 3.26% APY
12/03/08: 3.76% APY
09/04/08: 4.01% APY
06/25/08: 4.51% APY
03/14/08: 5.01% APY
10/01/07: 6.01% APY up to $50K; 1.05% over

Tags: Massachusetts, Clinton Savings Bank, checking account, reward checking account