4.19% Reward Checking Account at Rock River Bank in Northern Illinois - Local Only


Update 7/04/09: The bank has been closed by regulators, and the FDIC has arranged for all deposits to be transferred to The Harvard State Bank. It is assumed that The Harvard State Bank will not continue this reward checking account.

Rock River Bank is offering a high yield reward checking account called Ideal Checking. The account offers the following rates and features if certain monthly requirements are met:
  • 4.19% APY on balances up to $50,000
  • 1.00% APY on the portion of the balance over $50,000
  • 0.25% base rate if qualifications are not met
  • ATM fee refunds nationwide of up to $25 per cycle
The monthly requirements include:
  • 15 signature-based debit card purchases
  • 1 direct deposit or ACH auto debit
  • Receive e-Statements
Additional features of the account regardless of the monthly requirements include:
  • $100 minimum initial deposit
  • No minimum balance requirement
  • No monthly service charge
It appears that a branch visit is required to open an account. Branches are located in Oregon and Rockford, Illinois. The bank has been FDIC insured since 1935 (FDIC Certificate # 15302).

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
Related Pages: checking account