Dedicated to Deposits: Deals, Data, and Discussion

3.51% Reward Checking Account at Renasant Bank

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Renasant Bank
Update 6/27/09: The yield has fallen to 3.51% APY. Refer to the bottom of the post for the rate history.

Renasant Bank is offering a reward checking account that pays 3.51% APY on balances up to $25,000 and refunds ATM fees if the following monthly requirements are met:
  • 10 debit card purchases
  • one direct deposit or automatic bill payment
  • receive electronic statements
  • Log into Online Banking
If these are not met, the rate falls to 0.10%. The minimum initial deposit is $50. There are no monthly maintenance fees and no minimum balance requirements. If account balance exceeds $25,000 and the rewards requirements are fulfilled, then the APY will range from 3.51% to 1.06% (based on a balance of $100,000).

A branch visit appears to be required to open an account. Branches are located in Tennessee, Mississippi and Alabama. Note, rates may vary by location. Please leave a comment if you come across a different rate. The bank has been FDIC insured since 1934 (FDIC Certificate # 12437). It's one of the larger banks that offer reward checking (bank has $3.7 billion in assets).

Other Rewards Checking Accounts

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

Rate History:
06/18/09: 3.51% APY up to $25K; 1.06% to 3.51% for $25K to $100K
12/23/08: 4.01% APY up to $25K; 1.18% to 4.10% for $25K to $100K
06/20/08: 4.26% APY

Edit 1/27/09: Removed reference to ad. Rates are now listed on the bank's website.

  Tags: Alabama, Tennessee, Mississippi, Renasant Bank, checking account, reward checking account

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Comments
2 Comments.
Comment #1 by Anonymous posted on
Anonymous
Rate change effective Dec 19, 2008: 4.01% APY up to $25K; over $25K applies a sliding scale from 4.01% to 1.18% (based on balance of $100K). Go figure!?

1
Comment #2 by Anonymous posted on
Anonymous
Please remove your short paragraph stating the rates are not listed on their website.

1