A Chicago-area bank has a savings account that pays more than the best nationally available deal — and any Illinois resident can take advantage.
Evergreen Bank Group (www.evergreenbankgroup.com), based in Oak Brook, Ill., pays 1.05% APY on balances to $10,000 for its Kasasa Saver account.
You’ll also need to open a Kasasa Cash rewards checking account to earn that top rate, and the checking account pays 2.05% APY on balances to $10,000.
To earn the best rates on both accounts, you’ll need to make a dozen debit card purchases each month, sign up for eStatements and log in to online banking.
By doing those things, you’ll earn 1.05% APY on your savings account balance up to $10,000. Higher balances earn 0.50% APY. You can open an account by making a minimum deposit of $100. There’s no minimum amount required to earn interest, and the account has no monthly fees.
The best nationally available savings account pays 0.91% APY.
At the Evergreen Bank Group, you’ll earn 2.05% APY on your checking account on balances to $10,000.
Balance portions above that limit earn 0.50% APY. You’ll also have your domestic ATM fees refunded.
If you don’t fulfill the monthly requirements, you’ll earn only 0.05% APY for that month on both accounts.
You’ll need to make a minimum deposit of $100 to open a Kasasa Cash account. But you don’t need to keep a certain amount in the account to earn interest, and you pay no monthly service fees.
Evergreen Bank Group has two locations in the Chicago area, in Oak Brook and Evergreen Park. You can stop by a branch to open your account or open it online.