Reward Checking Account with First Federal Bank with best interest rate at 4.50% APY
The First Federal Bank headquartered in North Carolina gives their highest interest rate for their best checking account if the monthly requirements are satisfied:
4.50% APY for balances through $25,000
Deposits above $25K earns 1.01% APY
Base interest rate is 0.10%
ATM fees of up to $4.99 are refunded while $5 and over will require receipts
The best interest rate for the checking account can be enjoyed as long as the account holder satisfies the monthly requirements: complete 10 purchases using the debit card, make an ACH auto debit or a direct deposit, and use online banking at least once.
Interested consumers can open the checking account for a minimum of $50. The bank does not impose any balance requirements nor do they collect monthly service fees. An account holder can also use the online bill payment system for free.
You can access an online application. It seems it may be necessary to drop by a branch to complete the application.
First Federal Bank has offices spread across North Carolina. These branches are located in Fuquay Varina, Erwin, Clayton, Benson, Angier, and Dunn cities.
The bank doesn’t have a very impressive financial rating. Bankrate.com and BauerFinancial reviewed its performance and stamped their reports 2 stars and 3 stars, respectively.
First Federal Bank is insured by the FDIC with certificate number 31077.
