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Home Federal Bank (LA)
3.00*%-$15kHome Federal Bank (LA)Smart Rewards Checking
Accounts mentioned in this post. Rates as of May 3, 2016.

High-Yield Reward Checking Account at Home Federal Bank in Louisiana - Local Only


Update 1/4/2012: The balance cap has fallen to $20K

There used to be a few institutions in Louisiana with some very attractive reward checking accounts. However, the ones with the best rates have reduced the balance caps. The reader 51hh recently mentioned a new Louisiana reward checking at Home Federal Bank which has both a top rate and a respectable balance cap. The account is called Smart Rewards Checking and it has the following rates and features if certain monthly requirements are met (as of 1/4/2012):

  • 4.00% APY on balances up to $20,000
  • Foreign ATM fee refunds of up to $10

Monthly requirements include:

  • 12 signature debit card purchases
  • Direct deposit of at least $100
  • Receive imaged checks in a monthly E-Statement
  • Minimum balance requirement of $250

The account has no monthly service charge, and the first order of basic checks are free.

You must be a Louisiana resident to open this account. Home Federal Bank branches are located in the Shreveport.

The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 0.24% (excellent) based on December 2010 data. Please refer to our financial overview of Home Federal Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 27654).

How It Compares?

It's getting hard to find reward checking accounts paying over 3.00% APY on balances of at least $25K. As of 4/1/2011, there's now only one nationally available reward checking account with a 3% APY for balances up to $25K. Danversbank is now the only one (and its reward checking future is in doubt.) A reader just reported that Coulee Bank is now limited to Wisconsin, Minnesota and Iowa residents.

Other High-Yield Reward Checking Accounts

To find reward checking accounts in your state or to find those available nationwide, please refer to the reward checking section of DepositAccounts.com.

Account History:
01/04/2012: 4.00% APY up to $20K
04/01/2011: 4.00% APY up to $25K

Related Pages: Home Federal Bank (LA), Shreveport, reward checking account, checking account

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51hh   |     |   Comment #1
I called the branch today and confirmed that the $100 direct deposit can be an ACH transfer (vs. payroll deduction). 
Anonymous   |     |   Comment #2
NEW Changes planned to start on Jan 1, 2012



The rewards for this account are payment of Reward interest rate on balances of $.01 to $20,000.00 and refund of foreign ATM fees up to $10.00 per statement cycle. The following minimum requirements must be met each statement cycle to qualify for Rewards:

? Must be set up for email statements.

? Must have at least one direct deposit for at least $500.00.

? Must have at least one direct debit for any amount.

? Must complete withdrawals using your Home Federal MasterCard debit card a minimum of 15 times as a signature based transaction and amounts must be for at least $5.00 each.

? Minimum balance of $250.00 must be maintained.


A tiered interest rate will be paid on balances above $20,000.00 if qualifications are met. The interest rate tiers are as follows:

Balances $20,000.01 to $49,999.99

Balances $50,000.00 to $99,999.99

Balance $100,000 and up

No interest will be paid on entire balance if qualifications are not met. Check printing fees are at customer’s expense and vary according to your selection.
Anonymous   |     |   Comment #3
why would people call re for an offer that they are not eligible for ??
51hh   |     |   Comment #4
Anon. #3: The answer is for the benefit of others/majority (it is called public service in its true meaning); one does not care for oneself alone in this world.:-)

If all just care for ourselves, there will not be this site that provides much information that Ken himself can not benefit from.