Published on April 3rd, 2017 | by William Charles149
New Buffalo Savings Bank: 2.27% APY On Balances Up To $35,000 & $50 Amazon Giftcard
Offer at a glance
- Interest Rate: 2.27% APY on balances up to $35,000 when requirements are met. 0.02% if requirements are not met
- Minimum Balance: None
- Maximum Balance: $35,000 for 2.27% APY, account then earns 0.25% APY on balances over this
- Availability: Nationwide, possibly Michigan only.
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Insured: FDIC
- New Buffalo Savings Bank offer a 2.27% APY account on balances up to $35,000 when you complete the following requirements:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive E-Statements
- Be enrolled in and log into online banking
You can also get a $50 Amazon gift card by referring a friend (both parties receive a $50 Amazon gift card). The requirements are as follows:
- Enter e-mail
- Open a free Kasasa checking account with New Buffalo Savings Bank
- Qualify for your Kasasa account rewards within 180 days (same requires as needed for 2.27% APY rate)
- Once we verify your qualifications, your gift card is delivered by email
Thanks to reader Kalf8483 for mentioning this bonus, this is their link. Feel free to share your link (once) in the comments. Note the referral bonus states it’s limited to Michigan, Indiana and Illinois – not sure if that is actually enforced or not. You can generate your own link here.
This account has no monthly fees to worry about
I like the fact that there is no monthly fees and also direct deposit isn’t required. In general these requirements are pretty easy to complete (here are some ideas on how to meet those debit card requirements). The APY is higher than a basic high interest account, but not as good as most rewards checking accounts. The upside is that you also get the $50 Amazon gift card as well.
I suspect it will be popular for those that don’t want to bother with accounts with small caps or too many requirements. Share your datapoints in the comments below.
Hat tip to reader Connor C