The online branch of the 1st Constitution Bank, the 1st Constitution Direct is still pushing for their online savings account which has a 3-month guaranteed earning of 2.05% APY.

The promo interest rate is guaranteed from the date of account opening. After the special guarantee period the savings account interest rate falls back to 1.95% APY for balances over $10K. Balances below $10K get 1.60% APY.

Interested consumers can take advantage of this money in the bank deal by opening the savings account for as low as $100. There is no need to worry about monthly service fees since the bank does not charge any. They also do not set any balance requirement.

According to their customer service representative the offer is open for individuals from any state. People who want to open the savings account as a joint account may do so.

The bank has an ACH transfer facility so it will be convenient to fund the account. The bank does trial deposits and debit to verify the account upon opening. The bank also allows consumers to link as much external accounts that you need to connect to.

It will be wise to ask the bank about transfer fees and other charges which you may incur when managing this high yield savings account. They also do a credit pull during account opening which may hurt your credit score.

1st Constitution Direct is the online division of the 1st Constitution Bank which has offices in some New Jersey cities. The bank is covered by the FDIC with certificate number 27552.