Available nationwide, Redneck Bank is offering up to 1.75% APY when you open their Mega Money Market with an opening deposit of $500. Continue reading below to learn everything you need to know about Redneck Bank.
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About Redneck Bank Mega Money Market
Redneck Bank is the Internet Banking Division of All America Bank, a well-respected country bank established in Mustang, Oklahoma in 1969. They are fully-insured by the FDIC and strives to give their customers the best deals online.
Since they’re an online bank, they makes it easy to earn money by offering basic accounts with high interest rates online.
I’ll review Redneck Bank Mega Money Market below.
Redneck Bank Online Savings 1.75% Rate
This promotional rate is eligible for balances up to $50,000 and has no monthly fees. You can earn at their highest rate as long as the account is funded.
- Account Type: Mega Money Market Account
- Minimum Balance: None
- Maximum Balance: $50,000
- Availability: Nationwide
- Credit Inquiry: Soft Pull. They pull using ChexSystems.
- Opening Deposit: $500
- Credit Card Funding: None
- Direct Deposit Requirement: None
- Additional Requirements: See below for details
- Monthly Fee: None
- Early Termination Fee: None
American Express Personal Savings Account - You earn 1.70% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express Personal Savings include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses.
|Discover Bank Online Savings||1.60% APY + $200 Cash||Review|
|CIT Bank Savings Builder||1.75% APY + $150/$300 Bonus||Review|
|UFB Direct High Yield Savings||1.90% APY||Review|
|Betterment EverydayTM Cash Reserve||1.83% APY||Review|
|American Express High Yield Savings||1.70% APY||Review|
Redneck Bank ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
|Pull||1 day||$5,000||?||20+ linked accounts|
Editor’s Note: Help us with the table above in the comment section if you have experience with Redneck Bank’s ACH capabilities.
How to Earn Redneck Bank Rates
- Open a Mega Money Market account from Redneck Bank with an opening deposit of $500.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- Rates are subject to change based on account balance.
|Balance Requirement||APY Rate|
|$0 to $50,000||1.75% APY|
Why You Should Sign Up For This Account
- No minimum balance is required to maintain the APY rate
- Go worry-free with no hidden fees or service charges
- Receive eStatements, a free VISA debit card, and much more
- Online banking for convenient transfers, deposits, and account management
- Funds are federally insured by the FDIC
I would check out Redneck Bank and sign up for this attractive rate of 1.75% APY that is great for lower balances under $50,000. Let us know how it went with this bank by commenting below for our readers!
Take a look at our complete list of Best Bank Rates for great offers like this!