Deal Summary: Kasasa Cash, 2.25% APY up to $25k; Kasasa Saver, 1.00% APY up to $100k
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.
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.
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.
Thanks to DA reader, miked, for his Forum post on Lakeside Bank’s Kasasa accounts.
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.
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.