Redneck Bank Online Savings Account
Posted on | December 30, 2009 | 116 Comments
Redneck Bank, the online banking division of Bank of the Wichitas, has an online savings account they call a ”Mega Money Market Account” which currently has an annual percentage yield of 2.00 percent. That online savings account rate is higher than the average best savings rates currently is around 0.55 percent.
The Mega Money Market Account yield of 2.00 is for money market account balances of up to $35,000. Account balances over $35,000 get an annual percentage yield of 1.00 percent, better than the best savings account rates thse days. Even at 1.00 percent that rate is almost double the average savings account rate.
A little background Bank of the Wichitas, they are based in Snyder Oklahoma and have been in business since 1913. Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. They call themselves “a well respected county bank”.
Redneck Bank not only offers a money market account they also have a rewards checking account that currently has an annual percentage yield of 4.00 percent. You’ll have to meet the monthly qualifications for the rewards checking account rate. For more information see redneckbank.com.
A close second: American Express Bank Savings Account 1.30%
Tags: 2.00% > 4.00% > mega money market account > online savings account > rewards checking account > savings account rate
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