2.01% APY High Yield Savings Account offered at the First National Bank of Hereford
If you already own a checking account with the First National Bank of Hereford , or if you’re thinking of opening one with them, you’re in luck. Your checking account comes with the perfect complementary savings account which can earn up to 2.01% APY for balances up to $100,000 or more. For balances going over the cap, a rate of 0.51% APY will be applied. A drop to the base rate of 0.25% APY will be applied if the holder fails to meet the checking account’s monthly requirements.
Just like its companion checking account, the Real Saver comes with no monthly fees and no minimum balance. Apparently, this savings account is available even to those who live outside Texas. They can apply online and just send the necessary documents through mail.
Among the primary document requirements for this account are the holder’s driver’s license, and a copy of his/her social security card. There are several branches dotting Northern Texas including those in Friona and Hereford.
Applicants should keep track of the rates through the bank’s website before applying, though, as they tend to change quite frequently. Most of these rates won’t be applied to your account until the bank already finished processing your application.
You might want to look at the monthly requirements of the checking account before opening the Real Savers as well. The personal savings account for this bank yields 0.25% APY, which is not particularly high yield savings account, but also a good deal. It’s also a pretty competitive, if not high interest savings account, with 0.25% yield every quarter.
The only catch is that you have to maintain a $100 daily minimum if you don’t want to be charged $5 every quarterly banking cycle as well. A $1 for every excessive transaction will also be charged to you if you exceed the federal account limits.
Online banking transactions and eStatements for the personal savings account are free. Comparatively, the Real Saver is a more lenient savings account, but you will have to meet the partner checking account’s requirements first.
The First National Bank of Hereford bears impressive ratings. It received four stars from Bankrate.com and five stars from BauerFinancial. While it has only been around since 1991, the bank maintains a solid existence. It is also a member of the FDIC under FDIC Certificate # 34918.
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