[IN only] Interra Credit Union 5% APY On Balances Up To $10,000

Offer at a glance

• Interest Rate: 5% APY
• Minimum Balance: None
• Maximum Balance: $10,000
• Availability: IN only. Must live or work in one of the following counties: Allen, DeKalb, Elkhart, Fulton, Huntington, Kosciusko, LaGrange, LaPorte, Marshall, Miami, Noble, Pulaski, Starke, Steuben, St. Joseph, Wabash, Wells, Whitley
• Direct deposit required: No
• Additional requirements: None
• Hard/soft pull: Unknown 
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Insured: ASI

The Offer

Direct link to offer

• Interra is offering the Flex checking account. This account offers 5% APY on balances up to $10,000 when the following requirements are met:
  • 5.00% APY1 when 50+ debit card purchases post and clear your account each qualification cycle.
    2.00% APY1 when 20-49 debit card purchases post and clear your account each qualification cycle.

The Fine Print

• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees as long as you opt for eStatements.

Our Verdict

Might be an option worth considering for people that are able to generate a lot of debit card transactions easily, but can’t do direct deposits. That being said most people will be better off putting those debit card transactions on a credit card and sticking with a different high yield savings account.

Hat tip to reader Clyn6