Kirkpatrick Bank still offers their high yield savings account called Savings Square that has current interest rates of 1.35% APY. The savings interest rates have fallen in the past few months but they remain to be among the most competitive in the market today.

The high interest savings account can be opened for $1 if you want to get into this money in the bank offering. The maximum deposit you can put in initially has a set cap of $100,000. According to the promo page, the bank does not impose any monthly balance requirements and any monthly service charge. Account holders can monitor their account through electronic statements sent to them every month.

Interested individuals can open this savings account online. You can send in the initial funding via electronic transfer coming from your existing bank account. Once everything is setup, you can link your Savings Square with your other bank accounts so you can put in or takeout money any time you need to. The account you link to this high yield savings account must be under the same name.

The interest rate starts to accrue when the bank receives the initial funds. The earnings are compounded on a monthly basis and also credited in the same manner.

Remember if you plan to close the savings account, you must time it right. If you close it before the yield are credited then you will not be able to get the interest anymore. Take note that the interest rates that we have here may be changed any time.

Account holders can make as many deposits as you want but as governed by existing laws, you can only have six withdrawals every month. This includes transfers via computer, phone, or any pre-authorized or automatic takeouts you have set up. Any transaction going beyond the limit will cost you some fees.

Kirkpatrick is another bank which suffered from their loans for real estate developers. It will be wise to stay within the FDIC limits.

If you have questions on how to open this savings account or any other concern about their products and services, you can contact the bank through 1888-524-7277.

Kirkpatrick Bank is headquartered in Oklahoma and is covered by the FDIC through certificate number20156. You can find a link to the bank’s website on the promo page for Savings Square.