Update 2/24/11: The top rate has fallen to 3.04% APY.
Bank of Nebraska is offering a high-yield reward checking account called Investment Checking. It has the following rates and features if certain monthly requirements are met (as of 11/03/2010):
- 3.04% APY on balances up to $25,000
- 0.10% APY on portion of balance over $25,000
- 0.10% base rate if requirements are not met
Monthly requirements include:
- 12 debit card purchases
- One direct deposit
- Internet banking with e-statements
Minimum opening deposit is $100. There isn't much additional info on the bank's website. It appears to be free of monthly service charges.
A branch visit appears to be required to open an account. Branches are located in the Nebraska cities of Omaha, La Vista and Bellevue.
The bank has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 18.31% (excellent) based on 6/30/2010 data. Please refer to our financial overview of Bank of Nebraska for more details. The bank has been a FDIC member since 1974 (FDIC Certificate # 21704).
Thanks to the reader who emailed me news of this account.
Commentary and Other High-Yield Reward Checking Accounts
In these days, it's nice to see a bank offering a new reward checking account with a 4.07% APY for balances up to $25K. At other banks, rates have been falling over the last year. The average rate is now around 3.00%.
To find reward checking accounts in your state or to find those available nationwide, please refer to the reward checking section of DepositAccounts.com.
- 02/24/11: 3.04% APY up to $25K
- 11/03/10: 4.07% APY up to $25K; 0.10% over; 0.10% base