Offer at a glance
- Interest Rate: 4%
- Minimum Balance: None
- Maximum Balance: $15,000
- Availability: Must live, work, worship, or attend school in llegan County, Barry County, Berrien County, Branch County, Calhoun County, Cass County, Kalamazoo County, St. Joseph County, and Van Buren County, Michigan. Relatives of members are also welcome to join.
- Direct deposit required: Yes, $500+
- Additional requirements: See below
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Insured: NCUA
- Kellogg Community Credit Union are offering an APY of 4% on balances up to $15,000 when you meet the following requirements each month:
- Direct deposit of at least $500 per month
- 4+ monthly online banking logins
- 20+ monthly debit card transactions
- Be enrolled in eStatements
- Enrolled in bill pay
The Fine Print
- APY=Annual Percentage Yield. 4.00% APY is earned on eChecking account deposit balances up to $15,000 per month.
- Rate subject to change.
- Must have a credit score of 640 or higher to qualify.
- No free checks offered with this account.
- Interest is calculated on an average daily balance for the month.
- Fees or other conditions may reduce earnings on this account.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
I don’t think this account has any monthly fees to worry about.
4% APY on balances up to $15,000 is huge, they have offered this rate and account since at least mid 2015. In 2016 they actually had a $75 bonus from what I’ve been able to find out. Obviously the requirements for this bonus are quite strict but it’s easily one of the best high interest savings accounts with a big maximum balance.
If you have any experience with this bank or account, please share them in the comments below.
Hat tip to reader Geoffrey B