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4.02% Reward Checking Account at Suburban Bank & Trust in Chicago - Local Only

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Suburban Bank and Trust

Update 9/8/10: The bank has suspended opening new accounts.

Suburban Bank & Trust is offering a high-yield reward checking account called SBT Rewards Checking. The account has the following rates and features if certain monthly requirements are met:

  • 4.02% APY on balances up to $15,000
  • 0.15% APY on portion of balance over $15,000
  • 0.05% base rate if requirements are not met
  • ATM fee refunds up to $20 per month

The monthly requirements include:

  • 10 debit card purchases
  • One direct deposit or auto debit
  • Receive e-statements

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

  • $100 minimum initial deposit
  • No monthly fees
  • No minimum balance requirements
  • Free online bill pay

There's an online application link at the bank's website and at its microwebsite. The application at the microwebsite states that you must visit a branch to complete the application process.

Branches are located throughout the Chicago metro area.

The bank's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 1971 (FDIC Certificate # 20443).

Account History:

  • 09/08/10: 4.02% APY up to $15K; 0.15% over; 0.05% base rate
  • 01/25/10: 4.02% APY up to $25K; 1.01% over; 0.05% base rate

  Tags: reward checking account, Illinois, Suburban Bank and Trust, checking account

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Comments
Comment #1 by Anonymous posted on
Anonymous
Um, yeah. Like cool

1