There are a few reward checking accounts around the nation that have their yields guaranteed into 2009. Unfortunately, I'm not aware of any with nationwide availability. With the Fed likely to cut interest rates once again, rate guarantees on liquid accounts are especially nice. With help of some readers I've found the following reward checking accounts that have rate guarantees. Like any reward checking account, to receive the high yield you still have to meet the monthly requirements. Also, the balances that qualify for the high yield are capped to $20K ($25K for United FCU).
6.01% APY until 2/2010 at Galena State Bank & Trust in IL (see post)
6.01% APY until 1/2010 at Wisconsin Community Bank (see post)
6.01% APY until 7/2009 at Summit Bank & Trust in CO (see post)
6.01% APY until 1/2010 at United FCU in MI/OH/AR (see post)
6.01% APY until 1/2010 at Dubuque Bank & Trust in IA (see post)
6.01% APY until 7/2009 at Riverside Community Bank in IL (see post)
6.01% APY until 4/2009 at Arizona Bank & Trust (see post)
All of the above except the credit union are part of the same bank holding company, Heartland Financial USA. This is the reason their reward checking accounts are so similar ($20K cap). There are 10 member banks, but unfortunately, not all seem to have a reward checking account with a 6.01% APY or a rate guarantee.
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.
Update 10/29/08: Added Galena State. Update 4:00pm: Added Wisconsin and Summit banks. Update 10:38am: Added United FCU.
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