4.10% Reward Checking Account at an Illinois Bank (Peoples State)


Update 01/02/09: The yield has fallen to 4.10% APY. Refer to the bottom of the post for the rate history.

Peoples State Bank has started a reward checking that pays 4.10% APY for balances under $20K and refunds ATM fees when the typical monthly reward checking requirements are met: 1) 10 debit card transactions, 2) one direct deposit or ACH auto debit, and 3) receive electronic statements. If these are not met, the rate falls to 0.25%. A minimum deposit of $50 is required to open the account, but there are no minimum balance requirements or monthly fees regardless of meeting the requirements.

It looks like you have to visit a branch to open this account. Branches are located in the Illinois cities of Sumner, Newton and St. Francisville. The bank has been FDIC insured since 1934 (FDIC Certificate # 11722).

For other reward checking accounts in other parts of the country (and some without balance caps), please see my reward checking account page and my best checking account post.

Rate History:
01/02/09: 4.10% APY
07/12/07: 6.10% APY (initial post)
Related Pages: checking account, reward checking account

  |     |   Comment #1
That's a really good offer. I guess, I should consider getting such a card. And not only me, perhaps...
  |     |   Comment #2
No longer 6.10% APY now down to 4.10% APY.

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