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High-Interest Reward Checking Account at a Texas Bank (Independent)

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Independent Bank (McKinney, TX)

Update 1/7/2013: The top yield has fallen to 2.00% APY and the balance cap has fallen to $15K. Refer to the bottom of the post for the rate history.

Independent Bank is offering a reward checking account that pays 2.00% APY on balances up to $15,000 (0.15% for above) and refunds ATM fees if the following monthly requirements are met:

  • 12 debit card purchases
  • one direct deposit or ACH debit
  • Receive e-statements

The minimum opening deposit is $100. There are no minimum balance requirements or monthly fees. Information about this checking account is listed in their checking comparison table (pdf).

The bank also offers savings account linked with this reward checking account that's called REALSaver. If you meet the reward checking requirements, REALSaver pays 1.00% APY on balances up to $15K. If requirements are not met, the rate falls to 0.05%. There is no monthly fee or minimum balance requirement.

The bank requires a branch visit to open accounts. Branches are located in several Texas cities north of Dallas/Fort Worth including Mckinney, Anna, Celina, Prosper and Sherman.

Independent Bank has another website for its Central Texas branches. The same accounts are available. Central Texas branches are located in the Austin suburbs of Coupland, Georgetown, Manor, Round Rock, and in Waco.

The bank has been FDIC insured since 1934 (FDIC Certificate # 3076).

Thanks to the reader who mentioned this reward checking in the comments.

Other High Yield Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:

  • 01/07/13: 2.00% APY up to $15K (12 debit card purchases), 0.15% over / REALSaver: 1.00% APY up to $15, 0.15% over
  • 09/20/12: 2.00% APY up to $25K / REALSaver: 1.00% APY up to $25K
  • 03/23/12: 2.00% APY up to $25K / REALSaver: 1.25% APY up to $25K
  • 09/22/11: 2.38% APY up to $25K; 1.00% APY over $25K; 0.20% base / REALSaver: 1.51% APY up to $25K; 0.20% base
  • 12/24/10: 3.01% APY up to $25K; 1.00% APY over $25K; 0.20% base rate / REALSaver: 2.00% APY up to $25K; 0.20% base
  • 10/17/09: Added REALSaver: 2.50% APY up to $25K; 0.30% base rate
  • 01/01/09: 4.01% APY up to $25K; 1.00% APY over $25K
  • 05/18/08: 5.01% APY up to $25K (8 debit card purchases)


[Edit 7/18/09: Added e-statements requirement.]
[Edit 5/19/08: Turns out the bank does not offer the first 50 checks free.]


  Tags: Texas, checking account, Independent Bank (McKinney, TX), reward checking account

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