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Checking Account Interest Now at 7%
Posted on 9/17/23 at 9:27 pm
Posted on 9/17/23 at 9:27 pm
I just saw an ad promoting On Path Federal Credit Union offering 7% interest on checking account balances of less than 10K, of course you do need to spend money using your debit card and other required transactions. It might be a good place to park some money to collect a nice interest rate although playing the whack a mole in keeping the balance high enough, while making the required transactions could be a hassle for some.
Since it is a credit union membership requirements do apply or you can make a donation to their foundation. I qualify based on the parish where I live.
Since it is a credit union membership requirements do apply or you can make a donation to their foundation. I qualify based on the parish where I live.
2
Posted on 9/17/23 at 11:02 pm to Tarps99
Can you post a link to the specific product? Their website shows me nothing of the sort. Their 9 month CD tops out at 5%.
Posted on 9/18/23 at 7:01 am to Tarps99
quote:
cycle: (1) Log into online or mobile banking one or more times per qualification cycle (2) Be enrolled in and receive e-statements for the statement cycle, and (3) Have at least 15 debit card purchases post and settle within the qualification cycle. If qualifications are met each monthly qualification cycle for Cash Back checking, members earn 5.0% cash back on up to $200 in debit card purchases for a maximum earning of $10 per month per account. If qualifications are met each monthly qualification cycle for High-Yield Checking: (1) balances up to $10,000 receive APY of 7.00%; and (2) balances over $10,000 earn 0.50% interest rate on the portion of balance over $10,000, resulting in a range of 7.00% -
7% only up to 10K and have to use your card 15x per month
Posted on 9/18/23 at 8:38 am to DawgCountry
Does it say how much those 15x have to be? Cause I can by a water bottle 15x a month.
Posted on 9/18/23 at 8:41 am to DawgCountry
Seems like a helluva lot of work to change an entire banking relationship for $16/mo. extra...
Posted on 9/18/23 at 10:57 am to UpstairsComputer
Did I miss something? How is it $16/month?
Posted on 9/18/23 at 11:23 am to tigerclaw10
It's not. It's ~$58/mo.
Posted on 9/18/23 at 11:29 am to tigerclaw10
“Extra” compared to flat 5%.
Posted on 9/18/23 at 1:03 pm to LSUtigerME
quote:
“Extra” compared to flat 5%.
What this guy said.
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