bank rates

5-State Deal On Savings, Checking

An open checkbookResidents of five states can land a savings and rewards checking package paying among the top rates in the nation.

If you live in Kentucky, Tennessee, Illinois, Indiana or Missouri, you can open a Kasasa Saver account paying 1.00% on balances to $30,000 at Community Financial Services Bank, based in Benton, Ky. That’s a rate topped by just one nationally available savings deal.

The bank’s Kasasa Cash rewards checking account pays 3.05% APY on balances to $20,000. That’s a rate seen at only a couple dozen financial institutions around the country.

To earn these rates with Community Financial Services Bank, you’ll need to have at least a dozen debit card purchases each month from your Kasasa Cash account, make at least one automatic payment or receive at least one direct deposit each month, receive eStatements and log onto online banking.

If you follow those steps, you’ll earn the top rate on your rewards checking and savings. Balance portions greater than $20,000 on the checking account and above $30,000 on the savings account earn 0.50% APY on the checking account. The bank also will refund up to $25 in ATM fees.

If you don’t meet those requirements, you’ll earn 0.10% APY on both accounts for that month.

Each account requires a minimum deposit of $100 to open, but there is no minimum to earn interest, and there are no monthly fees.

If you don’t live in one of the five states that Community Financial Services Bank serves, the best nationally available deal comes from SFGI Direct (www.sfgidirect.com), which is paying 1.01% APY on your entire savings balance.

Opening an account at SFGI Direct requires a $500 minimum deposit, but you don’t need to keep that much in your account to earn interest. The account has no fees. The bank is the online division of Summit Community Bank in Moorefield, W.Va.

Community Financial Services Bank has five branches in the Paducah, Ky., area. You can also open your accounts online.

For more information, visit www.cfsbky.com or call 888-226-5669.

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