bank rates

N.C. Bank Guarantees Rate – Forever

checkbook money and calculatorA North Carolina bank pays 1.01% APY on its regular checking account – and it guarantees the account will never pay less.

The offer by Providence Bank in Rocky Mount, N.C., is good for its E-Plus Checking account. This compares favorably to the best nationally available savings account.

The best news?

There are no major hoops to jump through, unlike high-paying rewards checking accounts offered by many banks. The only thing you need to do to earn the 1.01% APY is sign up for eStatements.

Now, Providence says the rate will never drop below 1.01% APY, but it could increase.

It takes just a $100 minimum deposit to open an E-Plus Checking account, and you’ll earn the top rate on balances to $100,000. Balances from $100,000 to $250,000 earn 0.75% APY, and higher balances earn 0.50% APY.

The account has no monthly service fees and no minimum balance requirements.

If you’re interested in opening an E-Plus account at Providence Bank, you can start your account application online, but you will need to complete the process at a local branch, which makes this a purely local deal.

The bank has three locations in the Rocky Mount area, just east of Raleigh.

For more information, visit www.pbknc.com or call 800-379-9840.

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