Liberty Bank is offering a very competitive rate on its Personal Savings account. The yield is 1.82% APY on all balances. It's not listed on the bank's website. A reader emailed me news of this, and I called yesterday (11/09/2010) for more details. According to the bank representative, the rate has been this way for a long time, and she didn't know when it might change. A branch visit is required to open an account.
The bank does have a few details about this account in its Personal Savings Account page. There's a $4 monthly fee for balances under $200. Another downside is that you are only allowed 2 free withdrawals per month, thereafter $2 per withdrawal. I didn't ask about their online banking features. I would guess you shouldn't expect features you would get from internet banks like ACH transfers.
As a comparison to internet banks, the best no-cap savings account rate is 1.50% APY at Palladian Private Bank as of 11/10/2010. With a cap, the best rate is 1.75% at SmartyPig.
Branches are located in New Orleans, LA; Baton Rouge, LA; Jackson, MS; Kansas City, MO & KS; and Detroit, MI.
The bank has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 22.41% (above average) based on 6/30/2010 data. Please refer to our financial overview of Liberty Bank for more details. The bank has been a FDIC member since 1972 (FDIC Certificate # 20856).