NBRS Financial and First Clover Leaf Bank: Two More Banks Offering 4.01% APY on Free Rewards Checking

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These free reward checking offers have rates that exceed some of the best CD rates available, and nearly everyone in the country would qualify for one of these accounts.

Originally founded in the late 1800’s, NBRS Financial was one of only two banks in the state of Maryland that was able to stay open and solvent during the Great Depression. The bank is still an independent Maryland-based community bank with a primary market that serves Maryland and Pennsylvania.

NBRS Financial’sKasasa Cash is a rewards checking account that currently pays 4.01% with no minimum balance, free online banking, and gives nationwide ATM fee refunds. The rewards APY pays on balances up to $25,000, as long as the following qualifications are met: one direct deposit or ACH must be made each month, statements are received electronically, online banking is accessed, and 10 debit card transactions are made. If you don’t meet the qualifications in a given month, you will earn a base 0.10% APY for that particular month. To see if you live in an area that qualifies for an account, click here and enter your zip code at the bottom of the page under “Eligibility”.

If you don’t live in one of the areas NBRS Financial services, customers nationwide (with the exception of Nevada, due to state law) are able to take advantage of the 4.01% APY available at First Clover Leaf Bank. First Clover Leaf Bank has been a community bank in Illinois since 1889, but you don’t have to be a member of their Illinois community to open an account. Their My Great Rate Checking is very similar to NBRS Financial’s rewards checking offer, with the exception you that must also make three online bill payments in a statement cycle to get the rewards APY. If you don’t meet the requirements for the bonus APY in a month, your account is paid a base rate of 0.25%. The bonus APY is available on deposits up to $25,000, and balances over $25,000 earn 0.50%. The account requires a minimum opening deposit of $25, but there is no minimum balance requirement after that. You also get free bill pay, and there are no monthly service fees.

For the best information on reward checking, click here.

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