Browse through the stories below to view current deals for Mississippi banks or select an item from the menu bar above to view current rates in Mississippi.
Every now and then a large bank offers a decent rate on a promotional CD. The latest large bank to offer this type of deal is Regions Bank. It’s advertising two promotional CDs. The best one is a 70-month CD with a 2.00% APY. The other one is a 40-month CD with a 1.10% APY. Only the 40-month iCD is also available in an IRA. Minimum deposit is $10,000, and the maximum is $1 million. A checking account is required, and it must remain open during the entire term...Continue Reading
It has been over four years since my first report on the Kasasa Cash and Kasasa Saver accounts at Gulf Coast Community Federal Credit Union. The rates continue to be very competitive. That has not been common, as other credit unions and banks have slashed rates on their reward checking accounts. Rates have gone down some at Gulf Coast. The Kasasa Cash account, which is a high-yield reward checking, now has a 3.00% APY for balances up to $25K; four years ago it was 3.56%. This Kasasa Cash account is...Continue Reading
First Financial Bank continues to have very competitive rates on its reward checking and savings accounts, and these accounts are now available to more people than when I last reported on this account in April 2013. The reward checking is called Kasasa Cash, and the savings account is called Kasasa Saver. My first report on these accounts was in January 2013, and the rates have held steady since that time. At the time of my first report, the bank was accepting new customers from any state. That didn’t last long,...Continue Reading
The largest credit union in Mississippi Keesler Federal Credit Union is offering very competitive CD rates for terms from 2 years to 5 years. Its Jumbo share certificates have the highest rates. These include a 2.30% APY for a 5-year term, a 2.00% APY for a 4-year term and a 1.50% APY for a 2-year term. Minimum deposit is $100,000. Rates are 10 basis points lower for a $1,000 minimum deposit. There's also a bump-up 3-year CD with a 1.65% APY for a $100,000 minimum and a 1.55% APY for...Continue Reading
I first reviewed Ouachita Independent Bank’s reward checking account over six years ago when it was paying 6.01% for balances up to $25K. As you might expect, the rate and balance cap have fallen. However, the rate and balance cap remain competitive, and the account is still a good deal for savers who want interest rates higher than CD rates without the loss of liquidity. It’s always nice to see successful reward checking accounts with such a long history.
Since my last review, the bank has added a companion savings account...Continue Reading
High-yield reward checking accounts are the only deposit account in today’s world with a rate over 3%. Not all have rates over 3%, but the best ones still do. You can’t even get 3% rates today with 7-year CDs. However, unlike CDs, the reward checking accounts require work, and there are limitations. The main limitation is the balance that qualifies for the high rate, the balance cap. A few years ago, a $25K balance cap was most common. The $10K balance cap is now more common, especially for reward checking...Continue Reading
All reward checking accounts that have been around for at least five years have seen at least some rate cuts, and many have also had balance cap reductions. Several have been big disappointments with large cuts, but there are a few that have held up well. One of those is the Advantage Checking account at Central Sunbelt Federal Credit Union in Mississippi. I first reviewed this account in June 2008 when it had a 6% APY with a $25K balance cap. Below are the new rates and balance cap listed...Continue Reading
Regions Bank is again advertising a checking account promotion in which you can earn $125. This is another big bank that lacks free checking so you'll have to be careful to avoid monthly fees. The offer requires a new customer open a LifeGreen Checking Account online with the promo code 125, have at least $500 in total direct deposits and at least 10 Visa check card purchases in the first 60 days. Offer is scheduled to end on 4/7/2013. The offer is listed in this Region's promotion page.
There's no mention...Continue Reading
First Financial Bank has started offering a reward checking account called Kasasa Cash. There's also a linked savings account called Kasasa Saver. Both offer very competitive interest rates, and the accounts can be opened online. Thanks to DA member 51hh who first posted on this in the forum. There is some worry that this deal may not last long, but as I show below, it's not really a hot deal compared to other reward checking accounts. So hopefully, it will last for some time.
First Financial Bank has the rates and...Continue Reading
As I was reviewing today's rate changes, I came across Keesler Federal Credit Union which had increased some of its CD rates. I was surprised I had not noticed this credit union before since it's the largest credit union in Mississippi. Its new CD rates got my attention since they're very competitive. Its Jumbo share certificates have the highest rates. These include a 2.00% APY for a 5-year term, a 1.65% APY for a 4-year term and a 1.40% APY for a 3-year term. Minimum deposit is $100,000. Rates are...Continue Reading
BrandBank has started a checking account promotion which is guaranteeing a 1.07% APY through June 30, 2013. A minimum balance of $50,000 is required. The rates are much lower for smaller balances (0.25% for $10K to $50K and 0.10% for under $10K). There's also another requirement. One of the following criteria must be met within 60 days of account opening: 1) sign up for recurring Direct Deposit on this account; 2) enroll in Brand Bill Pay; or 3) open a CD with at least $25,000 in new money not currently...Continue Reading
Update 9/28/2012: Readers have been told by the bank CSRs that the yield is scheduled to fall from 3.25% to 2.25% on October 15, 2012.
Community Trust Bank is offering a very competitive reward checking account that it calls Trust Plus Checking. Both the rate and the balance cap make this a good deal. The details are shown below. The rates and balance cap are based on what's listed at the bank's rates page as of 9/25/2012: