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About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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2.65*%-$15kCoulee BankKasasa Cash
OTHER TIERS: 0.10% $15k+
Rates as of May 24, 2018.

Updates to the List of Nationally Available Reward Checking Accounts


The list of nationally available reward checking accounts has shrunk again. Liberty Bank's reward checking is still offering 3.01% APY on balances up to $25K (as of 1/6/11). It was one the very few nationally available reward checking accounts still offering 3% for balances up to $25K. It's now limited to residents of Illinois and Missouri. The other bank to make a change is The Bank of Fayetteville. This was one of the few reward checking accounts with a $50K balance cap which helped offset the lower rate (2.25% APY as of 1/6/11). It's now limited to Arkansas residents. Update: Reader has received a letter from The Bank of Fayetteville that the $50K cap is falling to $25K effective 2/9/11.

The list of nationally available reward checking accounts with a 3% APY for balances up to $25K is now down to two banks. It used to be four banks. In addition to Liberty Bank, Southern Community Bank & Trust was on this list. It's still nationally available, but the rate has recently fallen to 2.25% APY for balances up to $25K. So here are the remaining two banks:

The list becomes longer if you include reward checking accounts with balance caps under $25K. Two new additions have rates over 3%, but the rates only apply to balances of $10K or $15K.

Searching for the Best Rate in Your State

If you're lucky, there will be a local bank or credit union offering a reward checking account with yields higher than 3.00%. You can search for your state in our reward checking table. If it doesn't default to show your state, use the "Filter Accounts" button on top of the table to select your state. If you're curious to see the top yields regardless of the state, select "any". I just gave that a look, and there are still four 5-percent-plus reward checking accounts. The highest is 5.13% APY for balances up to $25K at United Mississippi Bank. This has held since June 2009.

Related Pages: Coulee Bank, Rochester, Minneapolis, La Crosse, Liberty Bank for Savings (IL), Chicago
51hh   |     |   Comment #1
It is interesting how mind can get used to worse situations.  Now the 3% APY does not look too bad, compared to the average 1% savings account interest rate. 

We all can pursue our local RCAs (e.g., Beacon Federal: NY/TX/MA - 4%, $20K). 
Rick   |     |   Comment #2
If you are a Federal employee there is NARFE credit union that is national and paying 4%.
Stewie   |     |   Comment #3
@#1-  You're right Rhett, everything's relative!  That reminds me of the following quote:

No matter how bad things get you got to go on living, even if it kills you.
Sholom Aleichem
51hh   |     |   Comment #4
Hey Stewie,

LOL...Sooner or later we will be very grateful if banks do not charge us for keeping our money (it will be conveniently coined "custodian fee"). 
tightwad   |     |   Comment #5
I just got a letter from Commonwealth Bank & Trust today saying they are lowering the tier down to $15,000 from $25k for the 3.25%. While no longer available nationwide, many here may have this account...Sorry, I haven't yet checked what the rate will be for over 15k.
Anonymous   |     |   Comment #6
State Bank of Toledo's  reward checking rate dropped from 2.5% to 2.01% for balances up to 25k.  Not sure when this happened
edlisal   |     |   Comment #7
tightwad - I haven't received my letter from Commonwealth yet, but someone over on FatWallet said that the rate will remain 3.25% for the $15k, but they weren't sure what the rate over that would be.  I would assuming it will still be 1%.
Anonymous   |     |   Comment #8
Per CB&T website:

*Extreme Rate 3.25% Annual Percentage Yield (APY) paid on balances between $1 and $15,000, and 1.00% APY paid on all amounts above $15,000 each cycle the minimum qualifications are met. If you do not meet the qualifications per cycle, your account will still function as a free checking account earning Base Rate 0.10% APY; however, it will not receive ATM fee refunds for that time period. Rates as of January 7, 2011.

thaiguyinla   |     |   Comment #9
Looks like I'm largely going to be getting out of the RCA business for the time being... I'm pulling almost all of my funds that had been in RCAs, most of which just so happened to markedly cut their rates at year's end, and putting them into Pentagon FCU's promotional CDs that are coming available in January to those who pre-reserved them last fall... I probably was going to do that anyway, but the serious crash of RCA rates at year's end didn't even leave any question about the issue. Now I've got a year's breather or so before the next batch of funds becomes available... Hope general rates improve by then, but it's not looking so optimistic on that at least right now. However, it's nice to at least breath easy for one year now.

Anonymous   |     |   Comment #10
No matter what the rates are I will continue to try to get the highest rate I can in credit unions and banks and stay 100% insured. Just hope that these low rates won't force too many people back into the market especially now that the newly elected congress wants to do away with even the few regulations that were passed in the last year or so.  Thanks again for this site.
Anonymous   |     |   Comment #11
I am truly happy for those of you who have circumstances that still allow you to get decent rates, whether that be a prereserved CD with PenFed, or belonging to a certain narrow demographic that qualifies for membership in a credit union still offering a decent RCA rate, or whatever. But the situation is really frustrating for the majority of us "commoners."

It's also worth noting that even when the Fed does begin to raise rates, the first several are likely to be miniscule increases. It may be the better part of a decade before we see respectable rates on average deposit accounts again.
decades   |     |   Comment #12
Agricultural Federal credit union is now charging $3.00 per mailed paper statement.
Anonymous   |     |   Comment #13
Provident Credit Union (based in California) has lowered their rewards checking account rate from 2.51 to 2.26 for balances up to 25k.
ekat   |     |   Comment #14
NOTE:  When clicking on the Coulee link in Paragraph 2 above, it routes to Ouachita Independent Bank. (Seems I did it before, and it went to Coulee...?)  Anyway, I checked the Ouachita site link out of curiosity, and didn't see anything restricting it to local only anymore.  Maybe they're taking nationwide again?  To experiment, I plugged in my out of state zip code, and chose "None" for which branch to use, it still allowed me to continue the application process.  Someone else can follow up with them if seriously interested - maybe there's a roadblock further along. Just thought I'd mention, since they offer 3% for up to 25k. 

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