New Jersey Deal On Checking, Savings

If you live in northwestern New Jersey, we’ve found both a rewards checking account and a savings account that offer strong rates.

First Hope Bank, based in Hope, N.J., pays 3.01% APY on balances to $10,000 for a Kasasa Cash rewards checking account and 1.25% APY on a Kasasa Saver account for balances up to $10,000.

These are typical Kasasa accounts, so you’ll earn the best rate on your checking account if you make at least 10 debit card transactions in a month, have at least one direct deposit or automatic withdrawal and receive eStatements.

Meet those requirements, and you’ll also have up to $25 in ATM fees reimbursed.

Portions of deposit balances greater than $10,000 earn 0.51% APY.

If you don’t meet the requirements, you’ll earn 0.05% APY on the Kasasa Cash account, which has no fees and no minimum balance requirements.

You need to have a Kasasa Cash account to open a Kasasa Saver account.

When you fulfill the rewards checking requirements in a given month, you’ll earn 1.25% APY on your savings account balance to $10,000. Balance portions above that earn 0.51% APY.

Not meeting the requirements means you’ll earn 0.05% APY that month.

The Kasasa Saver account also has no fees and no minimum balance requirements.

The 1.25% APY paid on a Kasasa Saver account is comparable to best savings account available nationwide. Salem Five Direct (www.salemfivedirect.com) pays that rate on balances to $500,000 for its eOne Savings account. It takes a $100 minimum deposit to open an account.

First Hope is a community bank with six branches in northwestern New Jersey, and only residents of that area can open Kasasa accounts. You can stop by a branch to open your accounts or do so online.

For more information, visit www.firsthope.com or call 800-884-2369.