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Home Federal Bank (LA)
APYMINMAXINSTITUTIONPRODUCTDETAILS
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

POSTED ON BY

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

 

SMART REWARDS CHECKING

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
Anonymous   |     |   Comment #3
why would people call re for an offer that they are not eligible for ??
51hh
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.