Great Rate Savings
Get Great Rates times two with Bank2! After all, two sources of interest are better than one. Great Rate Savings is a free, high-interest savings account that is linked to your free, high-interest checking account.
The 2.01% APY* and nationwide ATM fee refunds* from Great Rate Checking are automatically deposited here. That way your savings balance grows all on its own. Plus, Great Rate Savings tallies up more interest at 1.01% APY*.
Changes as of May 6, 2009: This account is limited to 2 accounts per customer and/or household. Additionally, the account is limited to Oklahoma residents only. The account may be offered to Bank2 loan customers.
- Summary
- Earn 1.01% APY* on balances up to $35,000
- Earn 0.51% APY* on amount of balance over $35,000
- Earn 0.10% APY* on entire balance if easy qualifications aren't met
Automatic savings deposits from Great Rate Checking earnings, which are:
- Earn 2.01% APY* on balances up to $15,000
- Earn 0.51% APY* on amount of balance over $15,000
- Earn 0.10% APY* on entire balance if easy qualifications aren't met
- Nationwide ATM fee refunds*
- No minimum balance requirement to earn rewards
- Free online banking
- Free e-Statements
- Free telephone banking
- $100 deposit to open
- FDIC insured
Qualifications:
There are no additional qualifications to receive the highest rate on Great Rate Savings. You automatically qualify when you qualify for Great Rate Checking rewards by doing the following each monthly qualification cycle:
- Access online banking at least once
- Receive free paperless e-Statements
- Have at least one monthly direct deposit post and clear the account
- Have at least 12 debit card purchases post and clear the account
Chances are you're already doing these anyway! But if you don't meet the qualifications one cycle don't worry. Your accounts are always free and still earn the base rate of interest. And you can get back to earning the Great Rate rewards the very next cycle you qualify!
Disclaimer:
*Annual Percentage Yield (APY), Rate Tiers and Qualifications for APY: Annual Percentage Yield (APY) is accurate as of 4/9/2012. Rates, rate tiers and qualifications are subject to change without notice after the account is opened. Minimum to open a Great Rate Checking account is $100.00 and minimum to open a Great Rate Savings account is $100.00. Fees may reduce earnings. Rate tiers are as follows: 1.01% APY applies to balances of $0.01 - $35,000.00 and 0.51% APY applies to balances over $35,000.00 if all Great Rate Checking qualifications are met each monthly qualification cycle. 0.10% APY applies to all balances if Great Rate Checking qualifications are not met. All balances will earn 0.51% APY to 1.01% APY as long as all qualifications are met. The advertised Great Rate Checking APY assumes that interest earned in Great Rate Checking compounds. However, by choosing to have Great Rate Savings linked to Great Rate Checking the interest earned in Great Rate Checking is automatically transferred to Great Rate Savings each statement cycle and does not compound. The actual interest paid may be less than the advertised APY on Great Rate Checking. The Great Rate Savings APYs may be less than the Great Rate Checking APYs. Qualifying transactions must post and clear the Great Rate Checking account during the monthly qualification cycle. Qualifying transactions may take more than one business day to post and clear the account from the transaction date. Lost, damaged, expired or stolen check cards do not alleviate the requirements for qualification for any qualification cycle.
ATM fees (for Great Rate Checking only) will be refunded up to $50 on the last day of the cycle only when qualifications are met.
This account is restricted to Bank2 customers and must accompany a Great Rate Checking account.
- Qualification Cycle
Qualification Cycle (QCycle) – Usually, each Great Rate account QCycle begins on the 6th day of the month (the "First day") and ends the 5th day of each month (the "Last day"); except in the event the First day or Last day or both fall(s) on a weekend or holiday(s), adjustment(s) will be made by moving such day "back" to the most immediate preceding business day such that neither day falls on a weekend or holiday and the Last day of the QCycle and First day of the next QCycle remain consecutive business days (e.g. Last day is the 5th and First day of the next is the 6th) of the same month. Any exceptions to this will be posted on the Bank's website or provided in customer e-statement(s) prior to being effective.
