bank rates

Start The New Year With A New Checking Account That Pays A Great Rate And Perks


Here’s a New Year’s Day deal worth partying over – a traditional checking account that comes with a surprisingly generous interest rate and some great perks.

Here's a New Year's Day deal worth partying over - a traditional checking account that comes with a surprisingly generous interest rate and some great perks.Morrill & Janes Bank, which has six retail branches in the northeast Kansas, offers its MJ Elite Checking to savers nationwide.

Maintain a balance of at least $1,500 and you’ll earn 1.51% APY on the account.

That’s more than you’ll make with the best nationally available 12-month CDs or the best nationally available savings accounts.

Even though this is a variable rate account, Morrill & Janes says it hasn’t been changed since April 2009.

If your balance falls below $1,500 the interest rate falls to 0.95% APY and you’ll be subjected to a $6 maintenance fee.

(The bank’s Web site can be a little confusing about how this works. But we called and confirmed that this is correct.)

It’s important to note that this isn’t a high-yield or reward checking account so you don’t need direct deposit or to use your debit card 12 times a month to qualify for that rate.

But you still get many of the perks of high-yield accounts, including free online bill pay and the free use of the 35,000 ATMs in the AllPoint network.

Morrill & Janes’ debit card comes with a reward program and new customers can even qualify for a $25 bonus by turning in their old checks and debit cards.

Compare these returns with the best savings and money market rates from scores of other banks in our database.

You won’t find any paying as much as this Morrill & Janes checking account.

And Happy New Year from all of us at Bankaholic.

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Comments (3)
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3 Existing Comments
  1. Kathy O'Gorman said:
    on January 30th at 11:58 am

    The rate is still good as of Jan. 30.

  2. Kathy at Bankaholic said:
    on February 28th at 09:57 am

    This rate is still being offered as of Feb. 28, 2011.

  3. Kathy at Bankaholic said:
    on April 3rd at 04:21 pm

    This deal is still available as of April 3, 2011.