Oxford Bank (MI) Offers Kasasa Cash (2.50% APY up to $50k) State Wide


Deal Summary: Kasasa Cash, 2.50% APY on qualifying balances up to $50k.

Availability: Michigan

Currently available to all Michigan residents, Oxford Bank’s Kasasa Cash earns 2.50% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.35% APY, with all non-qualifying balances earning 0.05% APY.

The rate is a little low for Reward Checking Accounts, but the $50k cap is way above the typical $25k cap and makes the account noteworthy.

2.50*%-$50kOxford BankKasasa Cash
OTHER TIERS: 1.07% $50k+
Rates as of June 6, 2020.

The Kasasa Cash was added to the product line two years ago, with an initial 2.00% APY on qualifying balances. Last August, the rate was raised to 2.50% APY on qualifying balances up to $50k.

The qualifying requirements are fairly straightforward, with no direct deposit requirement.

  • Have at least 12 debit card purchases
  • Be enrolled in and receive e-Statements
  • Be enrolled in and log into online banking

Oxford Bank’s Kasasa Cash has no minimum balance requirement, no monthly fee, and no minimum opening deposit. Nationwide ATM fees will be reimbursed up to $25 per month, with a maximum of $4.99 reimbursed per single transaction. Check writing is available and unlimited. There is a limit of one account per Social Security number and the account is “not to be used for commercial purposes.”


Headquartered in Oxford, Michigan about 40 miles north of Detroit, Oxford Bank offers its Kasasa Cash account to all residents of Michigan through an online application.

In addition to being opened online, the Kasasa Cash account can be opened at any of seven full-service Michigan branches, located in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville, and Oxford.

Bank Overview

Oxford Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.17% (excellent) based on September 30, 2018 data. In the past year, Oxford Bank has increased its total non-brokered deposits by $61.08 million, an excellent annual growth rate of 18.2%. Please refer to our financial overview of Oxford Bank (FDIC Certificate # 9719) for more details.

Established in 1884, Oxford Bank is the oldest commercial bank in Oakland County (Michigan) and has operated continuously under local ownership and management. The Bank’s founder and chief executive officer, Gabriel S. Holbert, died less than six months after the original Oxford Savings Bank opened its doors for business. His untimely death at age 46 prompted the Bank’s officers to create an official memorial page in the Bank’s permanent records.

He was the faithful friend, the beloved companion, the counseling brother of each one of us. To the stranger’s eye his char stands vacant in our circle. Not so to ours: so recently was he here, so closely was his daily life interwoven with our own, that it is difficult for us to make him dead.

How the Kasasa Cash Compares

When compared to the Reward Checking Accounts tracked by DepositAccounts.com, which are available to Michigan residents and have maximum qualifying balances of at least $50k, Oxford Bank’s Kasasa Cash APY currently ranks second.

The above rates are accurate as of 1/21/2019.

Thinking of opening a Reward Checking Account? Please refer to DA’s High Yield Reward Checking Account Rates Table page for both nationwide and state-specific accounts.

Related Pages: Detroit checking accounts, Flint checking accounts, reward checking accounts

  |     |   Comment #1
I don't meet the Michigan residency requirement, but in any case it would take a 3%+ interest rate to justify the efforts an RCA demands in the current environment. With other liquid account yields approaching 2.5% (without the hoops) I imagine this one's appeal will be limited to existing Oxford Bank clientele with substantial balances unmotivated to exploit the nationally available offers.
Stanley R
  |     |   Comment #2
An extra $250 per year for making 250 debit card purchases per year.

Different people value their time differently.
  |     |   Comment #3
12x12 = 250?

Also, everyone with an account at Ally does not have a closing date on the last day of the month. It varies depending on when the account was opened.
  |     |   Comment #4
I agree...I'm in Michigan but interest rate is too low.
deplorable 1
  |     |   Comment #5
This bank is close to me but I'm already earning 2.5% with 0 hoops. I don't see why anyone would be interested in this unless they bump the rate to 3-4%. Not only are RCA's a hassle but those of us with multiple cash back credit cards are also losing 2-5% per debit card transaction.

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