Solera National Bank headquartered in Colorado offers their best savings account which earns 3.00% APY through all balances. The high yields savings account is called Traditional Savings account which has been offering competitive interest rates for this savings account since January.

The interest rate for the savings account is still effective as of August 22 but like other offers it may be changed any time.

Interested consumers can take advantage of this money in the bank deal for an initial deposit of as low as $50. You can opt to go for $100 to avoid a quarterly fee of $5.

The bank charges $1 for withdrawal that you make and for every transfer which goes beyond the limit of 6 per quarterly cycle. This fee goes as high as $10 per every transfer and withdrawal that exceeds the monthly limit of 6 transactions.

You may also want to keep your account active since the bank imposes a dormant savings account fee of $15 every quarter for accounts with $100 balance or below.

The earnings of your savings account is credited to it quarterly. Make sure that the interest has already been credited if you are planning to close the account or otherwise you will not be able to get the yield.

Solera National Bank does not have an ACH facility. One alternative is to use the transfer facility from an external account with another bank.

The features of the high yields savings account is not that great but the 3.00% APY is a counter balance which makes the offer very competitive.

If you want to open an account, you can call the bank so thy can send in te documents which you will need to complete. You need to have these documents notarized before sending them back to the bank together with copies of your IDs.

Solera is a relatively young financial institution established in 2007. The bank is covered by the FDIC with certificate number 58534.