bank rates

Ohio Deal: Savings Account Pays 1.76%

Farmers Citizens Bank offers this deal to Ohio residents only.Farmers Citizens Bank pays a savings rate to Ohio residents that is much higher than any nationally available deal has been offered in well more than a year.

With a Kasasa Saver account, you can earn 1.76% APY on balances up to $100,000. You need to pair it up with a Kasasa Cash rewards checking account, which pays 2.22% APY.

The first step is to open a Kasasa Cash account, which requires a $50 minimum deposit.

Like a typical rewards checking account, you must make at least 12 signature-based debit card purchases per month, have one automatic payment or direct deposit and sign up for eStatements to earn the top rate.

The checking account pays 2.22% APY on balances to $25,000. Balances above that amount earn 0.75% APY. If you fail to meet the requirements one month, you’ll earn 0.15% APY.

Once you’ve got that in place, sign up for a Kasasa Saver account. It also requires a $50 minimum deposit to open.

It pays 1.76% APY on balances up to $100,000 if you fulfill the rewards checking requirements. Balance portions above $100,000 earn 1.16% APY. If you don’t meet the requirements in a certain month, you’ll earn 0.10% APY on your savings account.

If you aren’t an Ohio resident, your best bet is a savings account from TIAA Direct, which pays 1.25% APY on all balances.

You need a minimum $25 deposit to open an account at TIAA Direct, which is a division of TIAA-CREF Trust Co., the giant retirement services provider.

The best nationally available rewards checking account pays 4.09% APY. Offered by Consumers Credit Union (www.myconsumers.org) of Waukegan, Ill., this account pays its top rate on balances of up to $10,000, far less than the checking account at Farmers Citizens Bank.

At Farmers, you can open an account online (www.farmerscitizensbank.com) or visit one of seven branches outside Columbus in Bucyrus, Cardington, Fredericktown, Worthington, Shiloh or Upper Arlington. You must be an Ohio resident.

You can see how these rates stack up to the best savings and money market account rates from scores of banks in our database.

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Comments (3)
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3 Existing Comments
  1. Kathy at Bankaholic said:
    on April 2nd at 07:25 am

    Farmers Citizens’ Kasasa rates are still available.

  2. Kathy at Bankaholic said:
    on April 16th at 08:01 am

    You can still get Farmers Citizens’ Kasasa rates.

  3. Thang said:
    on May 17th at 01:58 pm

    Just talked with myconsumer bank’s, start July 1 the interest will fall down to $5000 with return 3% interest. For my personal experience Farmers Citizen’s Kasasa still the best, and I just open one online.

    Thank you bankaholic.com