Bank of Edwardsville headquartered in Illinois has the best checking account interest rate at 5.00% APY for balances through $25,000 on their TheClub Checking. The base interest rate for this checking account is 0.50% APY. It also refunds ATM fees on foreign banks incurred nationwide.

The highest interest rates can be enjoyed if the checking account holder fulfills the following monthly requirement:

Make 12 purchases using the debit card
Make at least one bill payment through the online facility
Opt for electronic statements
Have a combined deposit of $2500 on your TheClub checking and any of Edwardsville’s savings accounts

Interested individuals can open this account for just $50. The bank does not have any balance requirements if you have a deposit account with them with a balance of more than $2,500 or if you have a loan of at least $10,000. The bank imposes a $10 fee in case you do not meet the requirement for the $2500 combined balance.

The interest rate that we have here will be effective through October 13. It can be changed by the bank any time so it will be wise to check their rates table before signing up for anything.

A bank visit is necessary to open an account. They have offices in Edwardsville, Swansea, O’Fallon, and Belleville. It might be handy if you bring a copy of some proof of ID when you drop by their branch.

BauerFinancial stamps an excellent rating of 5 stars for the bank’s performance based on their June 2009 data. Bankrate.com using their March 2009 data issued 3 stars for the bank’s safety and soundness.

Bank of Edwardsville has 140 years of history in the business and has been indexed with the FDIC since 1934. They are covered by FDIC certificate number 1039.