3.01% Reward Checking Account at a Massachusetts Bank (Haverhill)


Update 3/28/09: The top yield has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.

Haverhill Bank has a reward checking account that pays 3.01% APY on balances up to $50,000 (1.01% for over) and refunds ATM fees if the following monthly requirements are met: 1) 10 debit card transactions, 2) one direct deposit or ACH auto debit, 3) access online banking, and 4) receive electronic statements. If these are not met, the rate falls to 0.15%.

As is common for reward checking accounts in Massachusetts, this one has a high cap of $100K in which you can earn the high yield. The average cap is $25K.

It appears that a branch visit is required to open an account. Branches are located in the MA cities of Haverhill and Bradford. The bank is FDIC insured (Certificate # 26411).

Other High Yield Reward Checking Accounts

For more information on reward checking accounts, please refer to one of these posts: reward checking overview, list of reward checking accounts around the nation, and the best checking account post.

Rate History:
03/15/09: 3.01% up to $50K; 1.01% over $50K
12/25/08: 3.51% up to $50K; 1.51% over $50K
03/31/08: 4.50% up to $50K; 2.50% over $50K
12/26/07: 6.01% up to $100K; 1.01% over $100K
Anonymous   |     |   Comment #1
you must live in the Haverhill area as well. i was denied because I live in Boston and was out of their "marketing" area...
Anonymous   |     |   Comment #2
Actually, I just spoke to them, and they too said I was outside their marketing area. However, as they don't have any "hard" boundaries, I would still be welcome to come to a branch and open an account.

More importantly, though, in late March 2008 the rate will go down to 4.50%, and the cap will go down to $50K from $100K.
georgepds (anonymous)   |     |   Comment #3
I'm in there area, when I went to apply the bank rep informed me they were reducing the interest rate at teh end of the month ( 4.25%IIRC)
georgepds (anonymous)   |     |   Comment #4
there should read their...
Anonymous   |     |   Comment #5
As of 12/25/08, top yield lowered to 3.51% up to $50K; 1.51% over $50K.
Anonymous   |     |   Comment #6
As of mid-March the new rates are: 3.01% APY up to $50K; 1.01% over; base rate same.