High Yield Savings Account – Lock in to a Yield of 5% on a Checking Account
Posted on | March 18, 2010 | No Comments
If you are looking to lock in to a yield of 5% or high on a checking account then you may want to consider doing research on local community banks. There are many local community bank spread throughout the country that are currently offering high-yield savings accounts and high-yield checking accounts.
It is very important to understand that you will not be able to apply for a checking account at a specific bank unless you live in a certain region of the country. Many of these local community banks will only allow applications from residents of specific counties or regions.
It would be a wise decision to call around to local banks and see what offers you can get. You might be surprised to find that there are many banks in your area that could offer you a high interest rate on a checking account or bank account. Some of these accounts can gain an interest rate as high as 5.25%.
There are a few restrictions when it comes to getting high yield on the small community bank checking accounts. It is generally the case that you will have to use an ATM or debit card at least 10 times a month and you will have to have one electronic transfer into the account once a month. If you can meet these requirements then you should get the high yield on your checking account.
Author: Jeremy North
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