Clients of Allstate Bank can enjoy and additional of 1.25% in a span of 90 days as part of their savings account program with high yields. The additional gains add to the current savings rate of 2.75% APY bringing the earnings to 4%. The promo is available for new bank customers.

Bank representatives disclose that any amount of balance may qualify for the extra yield of 1.25%. A credit check will also be done by the bank. New clients may open an account by visiting their branches or by mailing in an application for a deposit account.

For this program it is important to note that the base rate of 2.75% APY may change on weekly basis. This rate is a bit low compared to other online savings account with higher returns.

The high yield savings account from Allstate Bank requires a minimum deposit of $100 to open. It needs a maintaining balance of $500 to avoid a monthly fee of $4. Automatic reimbursement of up to $6 is also offered for ATM transactions done with other banks. The interest rate is credited monthly.

ACH transfers can also be done for the savings account with a limitation of $10000 per day. No fees are charged for the transfers which may take around 48 hours to complete. Links of up to 6 banks can be established.

Bankrate.com gives Allstate Bank 2 stars while Bauerfinancial issues 3 stars.

Allstate Bank has a declared asset of $293 million and total deposits of $857 million. The bank is FDIC insured with certificate # 34782.