Update 4/3/20: Lowered to 2.5%
Offer at a glance
- Interest Rate: 4.00% APY
- Minimum Balance: $5,000
- Maximum Balance: $15,000
- Availability: NH, parts of Maine
- Direct deposit required: Yes
- Additional requirements: Yes, see below
- Hard/soft pull: Soft pull
- Credit card funding: Yes, up to $1,000 per account (e.g savings & checking = $2,000)
- Monthly fees: Waived with $5k balance
- Household limit: None mentioned
- Insured: NCUA
- Northeast Credit Union offers a 4% APY rate on their Elite Checking account on balances up to $15,000.
Note there is a minimum balance of $5,000 to be eligible for the 4% rate.
The following qualifications are necessary for the 4% rate and to waive the monthly fee:
- Get a direct deposit
- Signup for e-statements
- Minimum of 20 debit purchases per month
- Minimum average daily balance of $5,000
Credit Union Membership
The following people are eligible to become a member of Northeast Credit Union:
- Live, work, worship, or attend school in New Hampshire or in Southern York county, Maine
- Live within a 30-mile radius of a branch location
- Have a family member who belongs to Northeast Credit Union
- Work at one of over 75 affiliated companies
Note that this account is different than most rewards checking in that it requires a $5,000 balance to waive the monthly fee. It’s mainly worth doing this deal if you’re sure you’ll have at least $5,000 in the account at all times to waive the fee.
For those in the target area, this is one of the best high-interest account options since most alternatives have more difficult requirements or lower limits. Hopefully, there isn’t a hard pull for signup, let us know if you try.
We’ll add this to our list of Best High Interest Savings Accounts – check there for additional options.
Hat tip to Depositaccounts