Dedicated to Deposits: Deals, Data, and Discussion

4.01% Reward Checking Account at a Louisiana Bank (St. Martin Bank & Trust Company)


St. Martin Bank & Trust Company
Update 12/30/08: The top yield has fallen to 4.01% APY. Refer to the bottom of the post for the rate history.

St. Martin Bank & Trust Company has a reward checking account that pays 4.01% APY on balances up to $25,000 (0.25% for above) and refunds ATM fees up to $12.50 per cycle if the following monthly requirements are met:
  • 10 debit card purchases
  • one direct deposit or one electronic payment
  • receive e-statements
  • access online banking
If these are not met, the rate falls to 0.25%. There are no monthly maintenance fees or minimum balance requirements.

It appears a branch visit is required to open an account. Branches are located in the Louisiana cities of St. Martinville, Parks, Lafayette and Broussard. The bank has been FDIC insured since 1934 (FDIC Certificate # 12610).

Other Rewards 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:
12/30/08: 4.01% APY for up to $25K, 0.25% APY for above
06/30/08: 5.01% APY for up to $25K, 0.50% APY for above

Edit 3/10/09: Base rate is 0.25%

  Tags: Louisiana, St. Martin Bank & Trust Company, checking account, reward checking account

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Comment #1 by Anonymous posted on
As of 12/24/08 the lowered rate is 4.01% APY up to $25K; 0.25% APY over $25K [and the latter is most likely the base rate if qualifications not met]

Comment #2 by Anonymous posted on
Clearly stated, if qualifications not met the base rate is 0.25%.

Comment #3 by Anonymous posted on
Cap is down to $15K