OMNIBANK, N.A. invites consumers to take advantage of their high yield savings account with current interest rates of 1.90% APY. This money in the bank deal with a very competitive interest rate is called Family Savings.

This high interest savings account gives 1.90% APY for balances of at least $1000. It is advertised as a savings account which gives 5.00% APY but this high interest rate only applies to funds which are below $1000.

The best savings account of OMNIBANK still offers this rate as of November 30. These best interest rates may be changed any time without notice.

This savings account, according to the CSR, has been in the market since last year. The website does not give out much with regard to the details of the Family Savings. Here is some information that we got from their customer service:

The bank requires that the account holder must also have a checking account with them. All of the checking accounts of OMNIBANK collect monthly fees.
The Family Savings account does not charge any monthly fees
Minimum deposit is $25
There are no limitations on the amount you can put into the savings account
Take note that withdrawals from the account is limited to 6 every Quarter.

The requirement for a checking account hurts this deal a bit but somehow it makes withdrawal from the account a lot easier.

Individuals who want to open an account may need to visit a branch. They have offices in Cedar Park, San Antonio, Lockhart, Houston, and Austin in Texas.

The bank also offers a health savings account which gives the same interest rate. It earns 5.00% APY for savings below $1000 and 1.90% for anything beyond.

The reviews of OMNIBANK, N.A. are a bit mixed. Bankrate.com issued 2 stars for its performance while BauerFinancial stamped 3 ½ stars on their soundness and safety report.

OMNIBANK, N.A. is covered by the FDIC with certificate number 17325.