bank rates

N.Y. State Deal: 3.04% Checking Account

An open checkbookIf you take a couple of simple steps, you can earn an impressive 3.04% APY on a rewards checking account with Adirondack Bank in Utica, N.Y.

Aside from the rate, we’re impressed by the rules this bank has put in place for earning cash.

Unlike most rewards checking accounts, which won’t pay you a decent rate unless you meet several requirements each month, Adirondack Bank’s eCo Checking account only has two requirements.

And if you don’t meet one, you’ll still earn far more than the 1.01% APY that the top nationally available savings account from SFGI Direct ( pays.

To earn 3.04% APY on balances up to $25,000 at Adirondack Bank, you’ll need to make 10 debit card purchases each month and receive a direct deposit of at least $250. If you only fulfill one of those requirements, you’ll still earn 1.51% APY on your account for balances to $25,000.

Unfortunately, higher balance portions earn just 0.05% APY.

If you don’t meet either requirement, your account will earn nothing for that month.

When you open the eCo Checking account, you need to make a minimum deposit of $25 and you must sign up for eStatements.

You don’t need to keep a certain amount in your account to earn interest, and you won’t pay any monthly service fees.

The eCo Checking account is available if you live in central or northeastern New York. You’ll need to stop by one of Adirondack Bank’s nearly 20 locations to open an account.

For more information, visit or call (315) 798-4039.

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