A high interest savings account is being offered by QNB Bank headquartered in Pennsylvania earning 1.85% APY. This best savings account can be opened for a minimum initial deposit of $5.

The savings account interest rate can be enjoyed without having to worry about any monthly service charges. The bank also does not impose any balance requirements.

Interested consumers can apply online using the form on the bank’s website. We noticed though that you have to be within the bank’s market coverage so you can open an account. The system will be asking for your zip code and will reject it once you are out of state.

The account only allows six transfers to third parties or other accounts as guided by law. There is a fee for every transaction in excess of this limit but is not detailed on the bank’s website.

This online savings account comes with electronic statements and also comes with an ATM card.

The current interest rate is posted on the QNB website as of November 2 but it may be changed any time. Please check the bank’s website before signing for anything.

QNB Bank has an office in Quakertown, PA and nearby towns. Some of the offices are located in Dublin Village, Perkasie, Wescosville, Country Square, Coopersburg, Pennsburg, and Souderton.

QNB was formerly known as the Quakertown National Bank until it was simply called QNB in 2008. It has been in the business of banking since 1877.

QNB gets 3 stars from Bankrate.com when they reviewed its performance while BauerFinancial stamped 4 stars to their safety and soundness evaluation. Both reports were based on their June 2009 financial data.

The bank is a member of the FDIC.