Stock Yards Bank and Trust invites consumers to take advantage of their high yield savings account called eSavings account with a current interest rate of 1.20% APY. This money in the bank deal is offered only in the Indianapolis and Cincinnati area.

You can enrol and open this savings account by accomplishing a form online. This high interest savings account requires an opening deposit of at least $500. The bank does not require any monthly balance nor do they collect a monthly service fee.

The interest rates may change any time so it will be best to check the numbers first before signing up for anything. Here are some important details that you need to take note of:

• The initial deposit of $500 must be deposited via ACH or via electronic transfer
• You only have 3 free withdrawals every month; excess transactions will have a $2 fee each
• You need a savings account or a checking account to fund the new savings account
• No service charge per month
• No required minimum balance
• According to the CSR, the bank does not do a hard credit inquiry when you open the account
• You can only link one external savings or checking account; this account can be changed by the account holder
• No limit for dollar ACH transfers

It seems that Stock Yards Bank and Trust wants to attract more deposits by giving consumers this eSavings account since they only have one branch in Indianapolis and one branch in Cincinnati. Most of their offices are spread across Louisville in Kentucky.

You can contact the bank through 800-625-9066 if you have questions with regard to online account opening and concerns about online banking.

The bank is listed with the FDIC thru certificate number 258.