ParkeBank offers a high yield savings account that gives 1.65% APY for deposits of at least $2,500 through their Parke Prefferred Savings Account Special.

Anything deposits going below the $2,500 required balance gets the interest rate applicable to their Statement Savings which has current interest rates of 1.26% APY which is also fairly competitive in today’s market.

The bank’s website does not provide much about this high interest savings account. It seems that you need to drop by a branch to open an account like their certificates of deposit deals.

We tried to call the bank to know more about the application process, funding, and fees but their customer service line was already out last weekend. You can call them through 1866-727-5325 to know more about this money in the bank deal.

ParkeBank is headquartered in New Jersey. They have several branches spread across the state particularly in Northfield and Sewell. They alls have an office in Philadelphia, Pennsylvania.

The ratings of this bank are quite strong. Bankrate.com and BauerFinancial stamped their reports with 4 stars for financial soundness and safety. These performance evaluation were based on their March 2009 data. The bank reported a 35% increase in their earnings for the third quarter of 2009.

The bank is covered by the FDIC through certificate number 34888. They have been indexed since 1999.