Paramount Bank (MO)

Paramount Bank lowered its checking account rate on April 17, 2021. They had one of the highest interest rates in the country of .85% for all balances. Now the rate is .75% for balances below $100,000 and .10% for accounts with balances above $100,000. The drop from .85% to .10% may come as a shock to many depositors because their monthly statement, which is issued on the 17th of each month, will show the interest rate at the previous higher rate. Depositors may not see the drastic cut to .10% until they look at next month's statement. This is the wording from Paramount's website: The Annual Percentage Yield (APY) and the Rate of the Interest Checking Account is 0.75% as of April 17, 2021 for accounts with balances up to $99,999.99 and 0.10% for accounts with balances over $100,000.00. Rates are subject to change daily and fees may reduce earnings. $100 minimum initial deposit is required to open an account. The account must be funded within 30 days to remain open. APY may change at a

This account can be used like a savings account without the 6 withdraw limitation. High-Interest Checking, 0.85%* APY Opening deposit $100 Min Bal to avoid monthly fee: No Fees Nationally available standard checking account... per Ken's review. *The Annual Percentage Yield (APY) of the High-Interest Checking Account is 0.85% as of January 2, 2021 for balances of $500,000 or more, 0.85% for balances of $100,000–$499,999, 0.85% for balances of $50,000–$99,999, 0.85% for balances of $5,000–$49,999, and 0.85% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. Minimum $100 deposit is due at account open. =>.<= Call 833.731.0229 for the most up to date rates. Member FDIC https://paramountbank.com/banking-rates/ Reviewed by Ken on 11/20/2020: https://ww

Paramount Bank's nationally available High-Interest Checking (non-reward checking account) currently earns a top rate on all balances. $100 minimum opening deposit.