bank rates

5-State Deal: Checking Rate Guaranteed

An open checkbookTrustco Bank, with 139 branches in five East Coast states, is offering a 1-year rate guarantee on its Free Interest Checking Account.

The 1.00% APY guaranteed rate rivals the top-paying nationally available savings accounts.

The yield also is comparable to what you can earn with many rewards checking accounts, but there are far fewer requirements with Trustco’s account.

To earn the best rate, you’ll need to keep at least $500 in your checking account. You’ll also have to receive a monthly direct deposit of your payroll, Social Security or pension check, worth at least $100, and sign up for eStatements.

But, unlike typical rewards checking accounts, there is no requirement to use your debit card.

The top rate applies to balances up to $50,000. Higher balance portions earn 0.05% APY. After the 12- month guarantee period is up, you’ll earn the standard checking rate, which currently is 0.05% APY.

With the regular yield as low as it is, opening this account is probably a smart move only if banking at Trustco is convenient.

It takes a minimum deposit of $50 to open a Free Interest Checking Account, and there are no monthly service fees.

Trustco is based in Glenville, N.Y. The bank has dozens of branches in Florida and New York. There are a handful of branches in Massachusetts, New Jersey and Vermont, as well.

You must open this account at a branch.

For more information, visit or call 800-670-3110.

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