Tensas State Bank (LA) Has Competitive Reward Checking/Savings Combo

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Deal Summary: Kasasa Cash Checking, 3.05% APY, on qualifying balances up to $10k. Kasasa Saver, 1.00% APY on qualifying balances up to $100k.

Availability: Five northeast Louisiana parishes

DA has been tracking the Tensas State Bank (TSB) Kasasa brand products for about a year. The Kasasa Cash Checking's initial 3.05% APY on qualifying balances up to $10k is still in effect. Qualifying balances over $10k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.05*%-$10kTensas State BankKasasa Cash Checking
OTHER TIERS: 0.25% $10k+
Rates as of December 7, 2021.

For some unknown reason, the Kasasa Cash Checking disclosure includes all the pertinent information, except the monthly qualifying requirements. The following was obtained in a conversation with CSR:

  • At least 12 debit card purchases
  • Log into online banking at least once a month
  • Receive eStatements

The Kasasa Cash Checking account has no monthly service fee or minimum balance requirement, but does require a minimum $100 opening deposit. Unlimited check writing is available and a free debit card will be issued following account opening. Nationwide ATM fees will be reimbursed up to a total of $25 per month, if the qualifying requirements are met. There is a limit of one Kasasa Cash Checking account per Social Security number and may not be used as a commercial account. A Kasasa Cash Checking account is required to have a linked Kasasa Saver account.

Kasasa Saver

The Kasasa Saver account currently earns 1.00% APY on qualifying balances up to $100k. Qualifying balances over $100k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$100kTensas State BankKasasa Saver
OTHER TIERS: 0.62% $100k+
Rates as of December 7, 2021.

Kasasa Cash/Kasasa Cash Back earned rewards are automatically transferred into a linked Kasasa Saver account each statement cycle. The Kasasa Saver account has no minimum balance requirement or monthly service fee, but does require a minimum $100 opening deposit. There is a limit of one Kasasa Saver account per Social Security number and a Kasasa Saver may not be used as a commercial account.

Annual Earnings of Combined Kasasa Cash Checking/Kasasa Saver Accounts

The potential combined annual earnings of a Kasasa Cash Checking account (3.05% APY/$10k) and a Kasasa Saver account (1.00% APY/$100k) is approximately $1,305 (1.19% APY/$110k), which is quite a competitive APY for a large sized balance in a rewards checking/saver combo.

Kasasa Cash Back

TSB’s Kasasa Cash Back account earns 3.00% cash back on up to $300 in monthly debit card purchases. If you are planning on maintaining a balance of less than $3,600, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash Checking account, as the maximum annual earnings for the Kasasa Cash Back account is $108 ($9 per month).

The Kasasa Brand

For those not familiar with the Kasasa brand, Kasasa Cash is a type of Reward Checking Account (RCA) developed by the Texas company, Kasasa, Ltd. According to the Kasasa website,

Kasasa: the free checking account that rewards each month for doing things you already do.

By performing certain actions valuable to your bank or credit union, like using your debit card or online banking, your institution makes more money, which they share with you in the form of rewards.

In case you were wondering, “Kasasa” is just a made-up word.

In a world where real-life people are too often taken for granted as account numbers,
we didn’t want to be the next [INSERT GENERIC NAME] checking account.

Availability

Headquartered in Newellton, Louisiana, Tensas State Bank’s market area includes the northeast Louisiana parishes of Catahoula, Concordia, Franklin, Madison, and Tensas.

Opening Kasasa Cash, Kasasa Cash Back, or Kasasa Savings account(s) must be done in person at any of the four Louisiana branches located in Newellton, St. Joseph, Tallulah, and Vidalia. TSB’s online banking platform is currently devoted to account management and bill payment services.

Bank Overview

Tensas State Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 13.15% (average), based on June 30, 2021 data. In the past year, TSB has increased its total non-brokered deposits by $13.8 million, an excellent annual growth rate of 11.16%. Please refer to our financial overview of Tensas State Bank (FDIC Certificate # 8533) for more details.

Opening its doors in 1922, Tensas State Bank was established with a focus on the agricultural needs of the local cotton-raising community. While TSB has expanded its non-farming customer base in five northeast Louisiana parishes, it continues to be a prolific lender offering loans for land acquisition and improvement, crops, cattle, and farm equipment. Tensas State Bank derives its name from the Taensa, an indigenous people who had established settlements in what is present-day Tensas Parish. The first recorded contact with the Taensa occurred in the late 17th century during the French exploration of the area.

How the Kasasa Cash Checking Compares

When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the market area and have maximum qualifying balances of at least $10k, Tensas State Bank’s Kasasa Cash Checking APY currently ranks fourth.

The above information and rates are accurate as of 10/22/2021.

Looking for the best Reward Checking Account rates, both nationwide and state specific? Please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Monroe checking accounts, reward checking accounts

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