BancorpSouth Bank offers attractive interest rates for their best checking account called Performance Checking. The current interest rates are a bit lowered compared to the previous years but are very competitive compared to the money in the bank deals with other banks. The balance ceiling too is better than average at $30K.

This local reward checking account is also being offered by a bank with about 289 branches across the Southeast. The interest rates may vary for every state this deal is offered:

• 3.25% APY for balances through $30K in Tyler, TX and Baton Rouge, LA
• 3.00% APY for balances through $30K for Huntsville, AL and Destin, FLO

You might not be able to see the checking account interest rates right away. Interested individuals will be able to see the rates when you start with the online application. You need to click on the application, go through choosing your state, city, and then click on the link for performance checking and you will see the interest rates for this checking account.

The reward checking account requires that you satisfy the following monthly requirements to enjoy the best interest rates:

• Make at least one ACH creditor debit in the form of an automatic payment of bills, or a direct deposit
• Complete at least 12 debit card purchases
• Opt for an online statement
• Enroll for an internet banking access

The bank also refunds ATM fees incurred when you use non-BancorpSouth ATMs. They refund the service charged for using your BancorpSouth ATM and puts in $2.00 for each of the first 5 ATM transactions on a non-BancorpSouth machine. The rate drops to the standard going on interest rates if you do not meet the monthly requirements. Any deposit above $30K also gets the standard rate.

You can open the Performance checking account for as low as $500. The bank does not collect any monthly service fees and they do not require any minimum balance to maintain.

Other perks you get include free debit card, online statement, and internet banking.

Another good feature is that you can combine this with the Performance Savings account which you can open for only $25. As of March 11 it has a competitive savings account interest rate of 1.50% APY. You can also get a combo statement for the checking and savings account. Take note though that you can only enjoy the best savings account rates when you get it with the checking account.

Although there is an online application it appears you need to be near a branch to open an account. Most of BancorpSouth offices are located in Louisiana, Arkansas, Tennessees, Alabama, and Mississippi. They also have some branches in Missouri, Florida Panhandle, and East Texas.

BancorpSouth Bank has some strong financial ratings. Both bankrate.com and BauerFinancial issued 4 stars for soundness and safety.

The bank is covered by the FDIC with certificate number 11813.