1.50% APY high yield savings account with State Bank and Trust Company in MS, LA, and AL
State Bank and Trust offers a high interest savings account called Platinum Savings. This is a companion savings account which earns an attracitve 1.50% APY if the account holder meets the requirements of the reward checking account.
The requirements of the best savings account are the following:
- Complete at least 12 check card/debit card transactions every cycle
- post a direct deposit or an auto debit via ACH every cycle
- opt for electronic banking statement
- use online banking every cycle
This is a money in the bank deal since the savings account gives you 1.50% APY for balances through $15,001 while the funds above this balance gets 0.75% APY. The reward checking account also offers an excellent top interest rate of 3.50% APY for deposits thru $15,001.
The base interest rate for both the savings account and the reward checking account is 0.10% APY.
The Planitum Savings account requires a minimum of $100 to open. You also do not have to worry about minimum balance requirements.
You will have to enter a zip code in order to check out the interest rates on their website. The bank covers certain counties in LA, MS, and AL. You may want to call the bank to check if you are within their market area. You can call their hotline thru 1800-236-2442.
State Bank and Trust Company is covered by the FDIC.
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