4.01% Reward Checking Account at Classic Bank in Texas


Update 1/12/09: The top yield has fallen to 4.01% APY. Refer to the bottom of the post for the rate history.

Classic Bank is offering a reward checking account that pays 4.01% APY on balances up to $25,000 (1.01% for above) and refunds all ATM nationwide fees if the following monthly requirements are met:
  • 10 Visa check card purchases
  • one direct deposit or direct withdrawal
  • receive electronic statements and maintain a valid email address
If these are not met, the rate falls to 0.25%. Minimum initial deposit is $100. There are no minimum balance requirements and no monthly maintenance fees.

The bank is listed at CheckingFinder but only when you enter a Texas zip code. So it appears that anyone in Texas can open this account online from this CheckingFinder page.

Branches are located in the Texas cities of Cameron, Rosebud, Rockdale and Giddings. The bank has been FDIC insured since 1934 (FDIC Certificate # 3126).

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:
01/12/09: 4.01% APY
12/21/08: 4.75% APY
10/10/06: 4.75% APY up to $25K; Bank was called First National Bank (see 2006 post)
Anonymous   |     |   Comment #1
As of 1/1/09 the top rate has fallen to 4.01% APY. Other rates remain same.
Anonymous   |     |   Comment #2
The 3.56% APY* is paid on amounts up to and including $15k, not 25k
4.01% Checking Account at Classic Bank in Texas
Update 1/30/09: The top rate has fallen to 4.01% APY. Refer to this post for more up-to-date information on this reward checking account.

Classic Bank has a Reward Checking Account that pays 4.01% APY for balances up to $25K (1.01% for above). The two main requirements are that you use the VISA Check Card 10 times per month (excluding ATM withdrawals) and you either have direct deposit or pay one bill via auto draft each month. It only requires $100 to open and has no minimum balance and no monthly fees.


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