High Yield Reward Checking Account at Inland Northwest Bank in WA & ID - Local Only

Update: The top rate and balance cap have fallen. Please refer to the bottom of the post for the rate history.

Inland Northwest Bank is offering a high-yield reward checking account with the following rates:

• 3.80% APY on balances up to $15,000
• 1.01% on portion of balance over $15,000
• 0.05% base rate if requirements are not met

The monthly requirements include:

• 12 debit card purchases
• 1 electronic deposit or withdrawal
• Receive electronic statements

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

• $100 minimum initial deposit
• No Minimum Balance Requirement
• No Monthly Maintenance Fee

It appears that a branch visit is required to open an account. Branches are located in the Washington cities of Spokane, Spokane Valley and Airway Heights and in the Idaho cities of Coeur d’Alene, Spirit Lake and Post Falls.

The bank's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial (based on 9/30/09 data) and 2 stars (below peer group) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1989 (FDIC Certificate # 27601).

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.

Rate History:

• 3.80% APY up to $15K; 1.01% over; 0.05% base
• 4.01% APY up to $25K; 1.01% over; 0.02% base