2.34% Reward Checking Account at a Colorado Bank (Home State)


Update 9/07/09: The top yield has fallen to 2.34% APY for up to $25K. Refer to the bottom of the post for the rate history.

Home State Bank is offering the Hometown Rewards Checking which pays 2.34% APY for balances from $6 to $25K (1.01% over) and refunds ATM fees when the following monthly requirements are met: 1) 10 check card purchases, 2) direct deposit or automatic withdrawal, and 3) receive electronic statements. If these requirements are not met, the rate falls to 0.10%. The minimum opening deposit is $50. There is no minimum balance requirements or monthly fees regardless of meeting the above requirements.

It appears that the bank requires a branch visit to open the account. Branches are located in the Colorado cities of Berthoud, Loveland, Fort Collins and Windsor. The bank is FDIC insured (FDIC Certificate # 16902).

Other Reward Checking Accounts

For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.

Rate History:
09/01/09: 2.34% APY $6-$25K
07/01/09: 3.21% APY $10-$25K
06/17/09: 3.45% APY $10-$25K
12/31/08: 3.45% APY
05/09/08: 4.56% APY up to $25K
08/21/07: 6.01% APY
glxpass (anonymous)   |     |   Comment #1
This account is now down to 4.56% APY. It looks like it was effective 4/1/08.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Anonymous   |     |   Comment #3
Interesting: home page states 3.45% APY (planned for 2009?), but the detail page still has 4.56% APY.