bank rates

Top Rate For Illinois Savings Account

Hand grabbing money out of a jarWe’ve found a bank in Illinois that pays just as much as the best nationally available savings account, but there’s no minimum deposit requirement.

Princeville State Bank in East Central Illinois pays 1.01% APY on the entire balance of its Forward Savings account.

The account must be paired with a Forward Checking account that pays 0.89% APY on your entire balance, as long as you meet the monthly rewards checking requirements.

The deal is a nice change of pace from most rewards checking and savings accounts these days, which will only allow you to earn the top rates on relatively low balances, such as $10,000 or $15,000.

To earn the best rates on the two accounts, you need to make at least 10 debit card purchases per month, make at least one automatic payment or direct deposit, and receive eStatements. By doing that, you’ll also get up to $20 in ATM fees reimbursed each month.

If you don’t fulfill the requirements, you’ll only earn 0.05% APY on both accounts for that month.

If you don’t live near this bank, your best paying option is a savings account with SFGI Direct (www.sfgidirect.com). The account pays 1.01% APY, but you need to make a minimum deposit of $500 to open an account.

However, you’ll still earn 1.01% APY on your account even if your balance falls below $500. The account has no monthly service fees.

SFGI Direct is the online division of Summit Community Bank in Moorefield, W.Va.

Princeville State Bank has two locations around Peoria. Any Illinois resident can sign up for this account, but you must do so in person at one of the branches.

For more information, visit www.p-s-b.com or call 888-385-4375.

Compare this offer to the best savings account rates in our extensive database of banks.

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