First-Lockhart's Kasasa Cash Earns 3.05% APY Up To $25k


Deal Summary: Free Kasasa Cash Checking, 3.05% APY, up to $25k.

Availability: All Texas residents through online application.

While First-Lockhart National Bank (First-Lockhart) has been offering some type of competitive rewards checking account (RCA) for more than ten years, the Kasasa brand has only been a part of the product line for about ten months. The Free Kasasa Cash Checking account currently earns 3.05% on qualifying balances up to $25k; qualifying balances above $25k earn 1.045% APY, with non-qualifying balances earning 0.05% APY.

There are only two qualifying requirements to earned the stated APY.

  • At least 15 debit card purchases (minimum $5 each).
  • Have at least two direct deposits, ACH credits, or ACH payments.

The Free Kasasa Cash Checking account has no monthly service fee or minimum balance to earn rewards. A $50 minimum opening deposit is required and there is a limit of one account per Social Security Number. If qualifications are met, nationwide ATM fees up to $20 will be reimbursed per statement cycle.

In the past ten years, First-Lockhart has changed its RCA APY three times, with the qualifying balance cap changing twice. The graph below shows how those changes affected the account’s potential earnings.

First-Lockhart Kasasa Cash Maximum Earnings

Free Kasasa Saver

As a companion account to the Free Kasasa Cash Checking, the Free Kasasa Saver currently earns 1.55% APY on qualifying balances up to $100k; qualifying balances above $100k and non-qualifying balances both earn 0.05% APY. The Free Kasasa Saver has no monthly service fee, no minimum balance to earn rewards, and requires a $50 minimum opening deposit.

The Kasasa Brand

If the Kasasa brand is new to you, Kasasa Cash is a type of Reward Checking Account (RCA) developed by the Texas company, Kasasa, Ltd. According to the Kasasa website,

Kasasa: the free checking account that rewards each month for doing things you already do.

By performing certain actions valuable to your bank or credit union, like using your debit card or online banking, your institution makes more money, which they share with you in the form of rewards.

In case you were wondering, “Kasasa” is just a made-up word.

In a world where real-life people are too often taken for granted as account numbers,
we didn’t want to be the next [INSERT GENERIC NAME] checking account.


Headquartered in Lockhart, Texas, First-Lockhart National Bank has a brick-and-mortar presence in Caldwell, Hays, and Travis Counties. All Texas residents, who are U.S. citizens/resident aliens with a valid Social Security Number, can apply for a Free Kasasa Cash Checking account.

Opening a Free Kasasa Cash Checking account can be done online, or in person at any of four full-service Texas branches, located in Austin, Kyle, Lockhart, and San Marcos.

Bank Overview

First-Lockhart National Bank has an overall health grade of "A" at, with a Texas Ratio of 1.08% (excellent) based on September 30, 2019 data. In the past year, First-Lockhart has increased its total non-brokered deposits by $7.62 million, an excellent annual growth rate of 3.2%. Please refer to our financial overview of First-Lockhart National Bank (FDIC Certificate # 13599) for more details.

When First National Bank of Lockhart opened its doors for business in April 1889, it was the first bank to be organized in Lockhart, Texas. The first Board of Directors included many of the men who played important roles in the development of Lockhart and Caldwell County. In 1934, the Bank merged with Lockhart National Bank, resulting in First-Lockhart National Bank. First-Lockhart is Caldwell County’s largest financial institution, with assets in excess of $274 million.

How the Free Kasasa Cash Checking Compares

When compared to the High Yield Reward Checking Accounts tracked by, which are available to all Texas residents and have maximum qualifying balances of at least $25k, First-Lockhart National Bank’s Free Kasasa Cash Checking currently ranks second.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Austin checking accounts, reward checking accounts

  |     |   Comment #1
My feeling save your effort that's TX for y'all they think they R so clever lol how does this benefit the consumer at all or make any $$$ off the top of my head [email protected] is something around $75 an a loss of interest for your 2ach ea month is there a min on that also I didn't look.
So 1st y'all got 15debits 5min there goes the any interest y'all might of earned that's if you have somewhere around the max amount then you have em changing caps debits your ach's/DD or what have ya.
Y'all might as well just take a 3.0%CD an collect your monthly interest plus your cashback rewards off 1 of your cards.
First-Lockhart National Bank (TX) Expands Its Product Line
Availability: Primary market area includes Caldwell and Travis Counties, Texas, but FirstStar Rewards Checking is available to all Texas residents.

What I find interesting and news-worthy about the various deposit accounts at First-Lockhart National Bank (First-Lockhart) is not so much the individual rates, but rather their collective value. After more than 125 years of continuous operation in one Texas county, First-Lockhart has begun to expand not only its market area, but its product line.

CD Specials

First-Lockhart currently has two CDs listed on its website: a 9-month CD Special...

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3.51% Reward Checking Account at First-Lockhart National Bank in Texas
Update 11/28/09: The top rate has fallen to 3.51% APY. Refer to the bottom of the post for the rate history.

First-Lockhart National Bank is offering a rewards checking account with competitive rates. The account offers the following rates and features if certain monthly requirements are met:
  • 3.51% APY on balances up to $25,000
  • 1.01% APY on balances over $25,000
  • 0.15% base rate if qualifications are not met
  • ATM refunds nationwide up to $999 per cycle
The monthly requirements include:
  • 10 debit card purchases
  • one direct deposit or ACH auto debit
  • receive e-statements
Additional features of the account regardless of...

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.