High-Yield Reward Checking Account at Synergy Bank in Louisiana - In-State Only


Synergy Bank is offering a high-yield reward checking account called Kasasa Cash. It has the following rates and features if certain monthly requirements are met as of 4/19/2010:

  • 3.80% APY on balances up to $25,000
  • 0.80% APY on portion of balance over $25,000
  • 0.10% base rate if requirements are not met
  • Unlimited nationwide ATM fee refunds

Monthly requirements include:

  • 12 debit card purchases
  • 1 Direct Deposit or ACH automatic payment
  • Receive electronic statements

Other account features include:

  • $100 minimum initial deposit
  • No monthly service fees
  • No minimum balance requirement
  • Free online bill pay

The bank pairs Kasasa Cash with a savings account called Kasasa Saver. This is intended for those with a balance of over $25K. The Kasasa Saver has the following rates if the Kasasa Cash requirements are met:

  • 1.80% APY on balances up to $25,000
  • 0.80% APY on portion of balance over $25,000
  • 0.10% base rate if Kasasa Cash requirements are not met

The bank has an online application at Kasasa.com. However, it requires that you enter your zip code, and it appears to only accept zip codes from Louisiana. It accepted zip codes from Baton Rouge (70801), New Orleans (70141) and Shreveport (71101).

Branches are located in Houma and Gray, Louisiana.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 12/31/09 data) and 5 stars (superior) at Bankrate.com (based on 9/30/09 data). It's rare to see a Bankrate rating of 5. Synergy Bank has been a FDIC member since 1999 (FDIC Certificate # 34978).

Other High-Yield Reward Checking Accounts

Please refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.

Related Pages: reward checking account, Synergy Bank, New Orleans, checking account


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