Savings Account & MMA Rates
CD (Certificate of Deposit) Rates
Britton & Koontz Bank is offering local customers in Mississippi and Louisiana one of the highest rates available on a rewards checking account.
Its Smart Rate checking pays 5.25% APY on balances as high as $30,000 with a minimum deposit of only $100.
That’s far better than the 4.00% APY you’ll earn with the best nationally available high-yield checking accounts.
As with so many local deals, you must apply in person and live within 15 miles of one of the bank’s nine branches in Natchez, Vicksburg and Baton Rouge.
The requirements to qualify for the top rate are fairly typical for these kinds of accounts — 12 debit card purchases and one automatic bill payment or direct deposit per month.
(If you’re unfamiliar with how these accounts work, “The ABCs of High-Yield Checking Accounts” will explain all of the rules.)
The one downside to Smart Rate checking is that the bank does not offer free use of other bank’s ATMs – a pretty standard perk with most high-yield checking accounts.
But since you have to live relatively close to a B&K branch to open an account, that’s probably not a deal breaker.
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