Finding the highest savings account seems to be tougher every day. You might want to consider opening a rewards checking account within your city to get up to 5% APY. Deposit Accounts has a great table to find a local bank with the highest rewards checking. At first, I was a little hesitant to open a Rewards Checking Account since I hate doing the 10-15 monthly debits requirement. It’s all worth it now because I’m making an extra $200 a month and the requirements are very easy to accomplish.
For those who want a Rewards Checking Account with up to $50K since $25K is too much trouble, there is ViewPoint Bank’s Absolute Checking paying 4.00% APY on balances up to $50,000 nationwide. You must have a minimum initial deposit of $100 and it comes with free checks. The account has no monthly service charges and no minimum balance requirements.
In order to get the 4% APY, you must:
- Make 15 check card purchases
- One direct deposit or one online bill-pay
- Receive electronic statements
Branches are located in Dallas, Tx. For people living in Dallas, TX, your chance of getting approved is much higher. Those from out of State have been reported to getting a rejection letter because of too many accounts opening through their ChexSystems. So, if you are from out of State with no high yield rewards checking, then your chance is much better.
**If you hate doing the 15 check card purchases, you can make 15 – 1 cent donation every month to the U.S Government. I’ve done a test trial and it works.