bank rates

New Jersey Bank Offers $100 Bonus

Columbia Bank pays up to 1.00% APY on its checking account.Who couldn’t use a few extra bucks?

New Jersey residents can get $100 in their pocket just for taking a couple of extra steps when they open a free checking account at Columbia Bank, based in Fair Lawn, N.J.

When you opt for the new Yield Plus Checking account, you’ll get an extra $50 in your account just for having at least one direct deposit within the first 60 days and another $50 for making an online banking transaction.

On top of that, if you keep $10,000 to $249,999 in your Yield Plus Checking account (www.columbiabankonline.com), you’ll earn 1.00% APY, which is higher than what most savings and money market accounts are paying these days.

On a national basis, only three savings accounts and three money market accounts pay at least 1.00% APY. TIAA Direct leads the pack, paying 1.25% APY on both savings accounts and MMAs.

If you don’t keep at least $10,000 in your Yield Plus Checking account, the rate you’ll earn is much less impressive, but you’ll still get that extra $100 from Columbia Bank.

Balances from $1,000 to $9,999 will earn you 0.50% APY. Balances below $1,000 or above $249,999 earn 0.10% APY. There’s no minimum balance requirement to open an account.

Columbia Bank also refunds the first six domestic ATM charges per month (or $20) for using other banks’ ATMs.

You can open a Yield Plus Checking account online, or stop into one of the bank’s 44 branches located throughout the state. But you must live or work in New Jersey to be eligible for this account.

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  1. Kathy at Bankaholic said:
    on May 7th at 09:50 am

    The bonus and rates are still available.