bank rates

Louisiana Deal On High-Yield Checking

By the middle of next month the best nationally available high-yield checking accounts will be paying less than 4% APY.

But some banks are still offering local customers a better deal than that – a much better deal in the case of Landmark Bank.Landmark Bank is still paying 5.01% APY on balances up to $25,000.

It’s still paying Louisiana savers 5.01% APY on balances up to $25,000 in its Reward Checking accounts.

As with so many local deals, you must open an account in person. In this case, you must go to one of Landmark’s two branches in Clinton and Zachary, which are north of Baton Rouge.

The requirements to qualify for the account’s top rate are pretty standard for this kind of high-yield or reward checking account.

Each month you must make at least 10 debit card purchases, one direct deposit or automatic payment, and receive your statement electronically.

Meet the requirements and you’ll also have up to $25 a month in ATM fees from other banks reimbursed to your account.

If you don’t meet these requirements, you’ll earn only 0.25% for that billing cycle. Fulfill the obligations the next month and your rate climbs back to 5.01%.

For more info on how these types of accounts work take a look at “The ABCs of High-Yield Checking Accounts”.

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  1. CrankySaver said:
    on November 15th at 03:28 pm

    Landmark Bank says it’s still paying 5.01% APY on its Reward Checking accounts, and opening new accounts for local customers. But it has taken all mention of the accounts off of its Web site.