Lakeside Bank (Chicago) Has New Kasasa Cash Account

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Deal Summary: Kasasa Cash, 2.25% APY up to $25k; Kasasa Saver, 1.00% APY up to $100k

Availability: Market area is the greater metropolitan Chicago

Lakeside Bank has added a Kasasa Cash account that earns 2.25% APY on qualifying balances up to $25k. Unlike many other banks, Lakeside Bank’s Kasasa Cash does not earn any interest on qualifying balances of $25k+ or on non-qualifying balances.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.25*%-$25kLakeside BankKasasa Cash
OTHER TIERS: 0.50% $25k+
Accounts mentioned in this post. Rates as of October 23, 2017.

Kasasa Cash Qualification Requirements

  • At least 12 monthly debit card transactions.
  • Receive electronic statements.
  • Log into the account at least once monthly.

The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a minimum $100 opening deposit. Nationwide ATM fees will be reimbursed up to $20 monthly if qualifications are met. There is a limit of one account per Social Security number.

Kasasa Saver

Lakeside Bank also added a companion Kasasa Saver account, which earns 1.00% APY on qualifying balances up to $100k. This APY applies when Kasasa Cash requirements are met. Like the Kasasa Cash account, the Kasasa Saver account has no minimum balance requirement or monthly service fee, and requires a minimum $100 opening deposit. Kasasa Cash interest and ATM fee reimbursements are automatically deposited into the Kasasa Saver account.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$100kLakeside BankKasasa Saver
OTHER TIERS: 0.50% $100k+
Accounts mentioned in this post. Rates as of October 23, 2017.

Thanks to DA reader, miked, for his Forum post on Lakeside Bank’s Kasasa accounts.

Availability

Headquartered in Chicago, Lakeside Bank is a locally-owned community bank that has a market area that includes the greater Chicago metropolitan area.

Opening a Kasasa Cash and a Kasasa Saver at Lakeside Bank requires a visit to any of six Illinois branches, all located in Chicago, including a branch in the Illinois Board of Trade Facility.

Lakeside Bank’s online banking platform is limited to account management and bill payment services.

Bank Overview

Lakeside Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.07% (excellent) based on December 31, 2016 data. In the past year, Lakeside Bank has increased its total non-brokered deposits by $203.63 million, an excellent annual growth rate of 2.07%. Please refer to our financial overview of Lakeside Bank (FDIC Certificate # 19571) for more details.

Established in 1966, Lakeside Bank was formed with a vision to transform Chicago’s South Side. R. R. Donnelly & Sons held the majority stock ownership and the Bank was named after the Lakeside Press, Donnelly’s successful publishing company. Within 20 years of operation, Lakeside Bank’s assets totaled over $100 Million. Today, Lakeside Bank has assets in excess of $1.4 billion and continues to reinvest 100% of its deposits within the community.

How the Kasasa Cash Compares

When compared to the 24 High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available within the market area and have maximum qualifying balances of at least $25k, Lakeside Bank’s Kasasa Cash APY currently ranks second.

The above rates are accurate as of 3/13/2017.

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 or our Rates Map page.


Comments
Lakeside Bank (Chicago) Has New 8-Month CD Special
Availability: Market area is the greater metropolitan Chicago

Lakeside Bank (Illinois) has just added an 8-month CD Special (1.05% APY with a qualifying relationship; 0.90% APY without qualifying relationship).

The minimum deposit for is $2.K of new money, with a balance cap of $250K.

A qualifying relationship is either a Lakeside Bank checking account ($100 minimum balance) or Lakeside Bank savings account ($500 minimum daily balance).

According to CSR, the Early Withdrawal Penalty is three months interest.

Availability

Illinois-based Lakeside Bank is a locally owned community bank, which has...

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