Malvern Federal Savings Bank Paying 5.01% APY
Malvern Federal Savings Bank – Rewards Plus Checking is paying 5.01% APY on balances up to $35,000, 1.01% APY on balances over $35,000 or 0.20% APY on non-qualifying balances (if you do not meet all the reward requirements).
There are no monthly service fees and ATM fees worldwide are automatically refunded at the end of each statement cycle.
The requirements to qualify for the rewards each month are as follows:
- Make 10 Visa check card transactions per statement cycle (transactions must be posted (not pending) and excludes ATM transactions.
- Receive one Direct Deposit or authorize one ACH Auto Debit.
- Access online banking at least once per month.
If you don’t meet the requirements listed above, your checking is still free and you can try to earn the rewards next month. Interest will be paid at the base rate of 0.20% APY on your balance.
The requirements to open an account are a minimum deposit of $200, enroll in online banking with Bill Pay and provide a valid email address.
The interest rates on the Rewards Plus Checking account can change at any time by Malvern Federal Savings Bank’s discretion.
For more information visit MalvernFederal.com.
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