3.01% Reward Checking Account at Commercial Bank in TN & KY - Local Only

Commercial Bank is offering a high-yield reward checking account called Hometown Rewards Checking. It has the following rates and features if certain monthly requirements are met:

• 3.01% APY on balances up to $25,000
• 0.51% APY for portion of balance over $25,000
• 0.05% base rate if requirements are not met
• Reimburses ATM fees nationwide per cycle

The monthly requirements include:

• 10 debit card purchases
• 1 Automatic Payment or Direct Deposit

Additional features of the account regardless of the monthly requirements include:

• $100 minimum initial deposit
• No minimum balance requirement
• No monthly service charge
• Free Bill Pay

It appears that a branch visit is required to open an account. Branches are located in several cities in Tennessee and Kentucky. Some of the cities include Harrogate, Knoxville, Kingsport, Luttrell, Pineville, Cumberland and Barbourville.

The bank's ratings for safety and soundness are fair: 3½ stars (good) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1976 (FDIC Certificate 22354).

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation, please refer to the reward checking section of DepositAccounts.com. To learn more about reward checking, please refer to this reward checking overview.