Dedicated to Deposits: Deals, Data, and Discussion

$100 Savings Account Bonus and High-Yield Checking at Redding Bank of Commerce in Northern California - Local Only


Redding Bank of Commerce

Redding Bank of Commerce is listing a $100 bonus for opening any new savings account with a minimum $100 deposit. This is listed in the bank's promotions page which is linked from the bank's home page as of 11/11/2010.

The small print of the promotion is hard to read. It appears to be easy to qualify for the bonus. You have to be a new customer, and you must deposit $100 which must remain on deposit at least 60 days. Bonus will be paid on the 61st business day of the account opening date. There's a limit of one new account per customer/household.

One savings account that they offer is the Performance Savings which has a decent rate for a brick-and-mortar bank: 1.06% APY for a minimum balance of $10K. This is listed in the bank's rate sheet as of 11/11/2010. According to the account description, there are no service fees. However, to qualify for the higher interest rate requires a checking account with a combined statement.

Also noteworthy is the bank's High Performance Checking. According to the rate sheet, it has a 2.27% APY for balances up to $25K as of 11/11/2010. The account description doesn't list any reward checking type of requirements. But like a reward checking account, there is no monthly service charge and foregin ATM fees are refunded up to $10. The only requirement listed is e-statements.

It appears that a branch visit is required. The bank has branches in Northern California in the cities of Redding and Roseville.

The bank has an overall health score at of 3 out of 5 with a Texas Ratio of 21.74% (above average) based on 6/30/2010 data. Please refer to our financial overview of Redding Bank of Commerce for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 24074).

Other Bank Bonuses

To find other bonus deals at other banks and credit unions, please refer to the bank bonus page which has all of my recent bank bonus blog posts. There are also additional bonuses listed in the checking account deals forum.

  Tags: Redding Bank of Commerce, California, savings account, checking account

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Comment #1 by Anonymous posted on
I opened a checking acct. at the Roseville branch and was informed that 15 debit card transactions were required as well as 1 ACH transaction per month (debit or credit), in adddition to the electronic statement delivery in order to get the 2.27% interest on the HIgh Performance Checking Account.  So bottom line this is another rewards checking account with a high number of transaction 15 versus 12 or 10 per month.