4.01% Reward Checking Account at an Idaho Bank (First Federal Savings Bank of Twin Falls)

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Update 6/22/09: The top rate has fallen to 4.01% APY. Refer to the bottom of the post for the rate history.

First Federal Savings Bank is offering a reward checking account that pays 4.01% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees up to $25 per cycle if the following monthly requirements are met:
  • 12 debit card purchases
  • one direct deposit or ACH debit
  • receive E-statements
If these are not met, the rate falls to 0.10% for that month. The minimum initial deposit is $100. There are no monthly maintenance fees.

On the bank's front page, it states that they are not accepting any new out-of-state deposit accounts. So it looks like this deal is only for those in Idaho. Branches are located in Twin Falls, Buhl, Burley, Rupert, Jerome and Kimberly. The bank has been FDIC insured since 1935 (FDIC Certificate # 28845).

Other Rewards 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:
06/21/09: 4.01% APY up to $25K
07/06/08: 5.01% APY up to $25K; 1.01% over; 0.10% base rate
Comments
Anonymous
Anonymous   |     |   Comment #1
Please update BOTH links, bank and reward checking.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Thanks. I've updated the reward checking URL, but the bank URL seems to still be valid and is what is listed at the FDIC page. They just redirect it.
Anonymous
Anonymous   |     |   Comment #3
4.01% now.
Anonymous
Anonymous   |     |   Comment #4
This rate and program (called advantage checking, google it.) is awesome. But be cautious.  We joined a credit union (name withheld because it was a good bank) when it was 4%. It quickly fell and within about 18 months it fell to 1%.  So don't count on this interest rate forever.  But, it is nice while it lasts!