Kearny Bank (NJ/NY) Boosts High Yield Checking

POSTED ON BY

Deal Summary: High Yield Checking, 2.53% APY on qualifying balances up to $25k.

Availability: Market area includes nine northern New Jersey counties and the New York Boroughs of Brooklyn and Staten Island.

At the beginning of the week, Kearny Bank raised the rate on its High Yield Checking (HYC) to 2.53% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.53*%-$25kKearny BankHigh Yield Checking
OTHER TIERS: 0.25% $25k+
Rates as of July 17, 2018.

I wrote about the HYC two years ago, when the APY was increased to 2.01%. This week’s 52 bps increase has boosted the APY to its highest point in seven years.

As stated on Kearny Bank’s High Yield Checking Account page, the qualifying requirements are as follows:

  • Have at least 10 debit card purchases.
  • Sign up to receive eStatements.
  • Have at least one direct deposit or automatic payment post and clear.

The High Yield Checking has no minimum balance requirement or monthly services fees, but does require a minimum $50 opening deposit. Unlimited monthly nationwide ATM fees will be refunded if the qualifying requirements are met.

Availability

Headquartered in Fairfield, New Jersey, Kearny Bank’s primary market area covers nine northern New Jersey counties (Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passaic, and Union). In June 2014, Kearny Bank expanded its market area into Brooklyn and Staten Island through its acquisition of Atlas Bank.

The High Yield Checking account can be opened at any of 40 New Jersey branches located counties of Bergen (9), Essex (3), Hudson (2), Middlesex (2), Monmouth (13), Morris (2), Ocean (7), Passaic (1), and Union (1). There are also two New York full-service branches in Brooklyn (Sunset Park) and Staten Island.

Bank Overview

Kearny Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.36% (excellent), based on June 30, 2017 data. In the past year, Kearny Bank has increased its total non-brokered deposits by $76.7 million, an above average annual growth rate of 2.75%. Please refer to our financial overview of Kearny Bank (FDIC Certificate # 28765) for more details.

Founded in 1884 as the Kearny Federal Savings and Loan Association, Kearny Bank became a federally-chartered stock savings bank in 1941. Between 1999 and 2014, the Kearny Federal Savings Bank acquired four New Jersey banks and Atlas Bank in Brooklyn. The Bank rebranded in 2015, becoming Kearny Bank. Wholly owned by Kearny Financial Corporation, Kearney Bank currently holds assets in excess of $4.8 billion.

How the High Yield Checking Account Compares

When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that have maximum qualifying balances of at least $25k and are available in the Bank’s market area, Kearny Bank’s Kasasa High Yield Checking APY currently ranks first.

The above rates are accurate as of 11/30/2017.

To look for the best Reward Checking Account rates, both nationwide and in your state, please refer to our High Yield Reward Checking Account rates table or our Rates Map page.

Related Pages: New York checking accounts, reward checking accounts

Comments
Anon
Anon   |     |   Comment #1
Kearny Bank (KRNY) announced in November 2017 they will acquire Clifton Bancorp (CSBK). CSBK will merge with and into Kearny, and each outstanding share of CSBK common stock will be exchanged for 1.191 shares of KRNY common stock. ..addition of 12 branches throughout Bergen, Passaic, Hudson, and Essex counties ...northern NJ...expected to close late in the first calendar quarter of 2018, or early in the second calendar quarter of 2018.
Kearny Bank (NJ) Adds Competitive 18-Month CD
Availability: Market area includes nine northern New Jersey counties and two New York counties.

As of this week, Kearny Bank (New Jersey) has added a new 18-month CD (1.50% APY) to its product line.

The minimum opening deposit for either CDs is $500, with no balance cap.

The 18-month CD is also available as an IRA (Traditional, Roth, and CESA), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for the 18-month CD is 6 months interest.

Continue Reading
Kearny Bank (NJ) Boosts Rate On High Yield Checking

Availability:

Market area is nine northern New Jersey counties.

Last December, New Jersey-based Kearny Bank (formerly known as Kearny Federal Savings Bank) raised the rate on its High Yield Checking account to 1.51% APY on qualifying balances up to $25K.

The 1.51% APY has held for almost a year, and as of today, the rate has been raised to 2.01% APY on qualifying balances up to $25K; qualifying balances over $25K earn 0.25% APY. Non-qualifying accounts earn 0.05% APY.

As stated on Kearny Bank’s High Yield Checking Account page,...

Continue Reading
Kearny Bank (NJ) Adds Two New Short-Term CD Specials

UPDATE 9/14/2015: Checking relationship required, details below

Availability: Market area is nine northern New Jersey counties.

Kearny Bank (NJ) has added two new promotional specials to their product line: 7-month CD (1.01% APY) and 15-month CD (1.51% APY). Of the two, the 15-month CD has the more attractive rate.

The minimum opening deposit for either CDs is $500, with no balance cap. Both CDs are limited-time offerings, but no specific date is stated on Kearny Bank's website.

According to CSR, the Early Withdrawal Penalty for the 7-month...

Continue Reading
Kearny Federal Savings Bank Raises Rate on High Yield Checking - Local

Availability:

Market area is nine northern New Jersey counties.

Kearny Federal Savings Bank (NJ) has raised the rate on its High Yield Checking account to 1.51% APY for qualifying balances up to $25K; balances over $25K earn 0.25% APY. Non-qualifying accounts earn 0.05% APY.

As stated on Kearny Federal Savings Bank’s checking account page, the qualifying requirements for the High Yield Checking are as follows:

  • Have at least 10 debit card purchases.
  • Sign up to receive eStatements.
  • Have at least one direct deposit or automatic payment post and clear.
Continue Reading


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 feedback@depositaccounts.com 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.