bank rates

Louisiana Bank Deal On Savings, Checking

Savers in southeast Texas and Louisiana have it twice as a nice: They can earn well-above-average returns on both savings and rewards checking accounts.

Jeff Davis Bank is offering above-average rates on bothJeff Davis Bank in Jennings, La., is offering a Kasasa Cash account with a 4.01% APY — just a bit lower than the national leader.

It’s also offering a Kasasa Saver account with a 2.00% APY, which trounces the best national offer.

Jeff Davis’s best rewards checking interest rate is good on balances up to $10,000. Balances above that amount earn 0.51% APY.

That rate puts it slightly lower than the 4.09% APY offered by Consumers Credit Union of Waukegan, Ill., on balances up to $10,000.

The real payoff comes if you combine a Kasasa Cash account and a Kasasa Saver account, which pays 2.00% APY on balances up to $15,000. For larger deposits, you’ll earn 0.51% APY.

That’s far above Salem Five Direct’s 1.25% APY for savings accounts opened by June 1.

Salem Five Direct is the online division of Salem Five Bank in Salem, Mass. A minimum deposit of $100 is required, and the rate applies to balances up to $1 million.

To earn the top rates at Jeff Davis Bank, you must make 10 debit card transactions per month, one direct deposit or automatic payment, use online banking and receive eStatements.

If you fail to meet the requirements you’ll earn 0.10% APY for each account. Each account requires a minimum $100 deposit to open.

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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on May 16th at 08:38 am

    You can still get these deals as of May 16, 2011.

  2. Mike Cetera said:
    on August 24th at 03:53 pm

    The Jeff Davis deal is good, but the current best nationally available savings rate belongs to UFB Direct, which pays 1.30% APY.