4.01% Reward Checking Account at an Idaho Bank (First Federal Savings Bank of Twin Falls)

Update 6/22/09: The top rate has fallen to 4.01% APY. Refer to the bottom of the post for the rate history.

First Federal Savings Bank is offering a reward checking account that pays 4.01% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees up to $25 per cycle if the following monthly requirements are met:

• 12 debit card purchases
• one direct deposit or ACH debit
• receive E-statements

If these are not met, the rate falls to 0.10% for that month. The minimum initial deposit is $100. There are no monthly maintenance fees.

On the bank's front page, it states that they are not accepting any new out-of-state deposit accounts. So it looks like this deal is only for those in Idaho. Branches are located in Twin Falls, Buhl, Burley, Rupert, Jerome and Kimberly. The bank has been FDIC insured since 1935 (FDIC Certificate # 28845).

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:
06/21/09: 4.01% APY up to $25K
07/06/08: 5.01% APY up to $25K; 1.01% over; 0.10% base rate

Tags: Idaho, First Federal Savings Bank, checking account, reward checking account