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First National Bank LA To Cut Rewards Checking Rate To 3.01%/3.05 APY On Feb. 9, 2012

Thursday, January 12, 2012 - 3:24 AMFirst National Bank (LA) - Details
My monthly Kasasa Cash rewards checking statement from First National Bank in Louisiana today included the following update:

"Effective February 9, 2012 the interest rate on Kasasa checking accounts will change to 3.01% with an APY of 3.05%."

The current rate, and the rate still listed on the bank's website, is 3.5% APY on balances up to $15,000.

No mention of any change in the interest earning deposit limit or any other requirements associated with the account, except they also said they'll be changing to using the Daily Balance Method for calculating interest on the accounts.

This bank's Kasasa Cash account used to be available to residents of both Texas and Louisiana. But in looking at their website today, they seem to have changed that to exclude Texas, meaning any new applications must come from Louisiana residents.

moneysavermoneysaver29 posts since
Jan 8, 2011
Rep Points: 258