Deal is no longer being offered, view the best high yield savings accounts here.
Offer at a glance
- Interest Rate:Â 3% APY for 12 months
- Minimum Balance:Â $25,000
- Maximum Balance:Â $250,000
- Availability:Â Ohio only
- Direct deposit required:Â Yes, $1,000+
- Additional requirements:Â See below
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Insured:Â NCUA
The Offer
- Kemba is offering 3% APY on the Kemba Money Market account for the first 12 months. To receive the 3% rate you need you need to be an Advantage member. That requires completing the following requirements each month:
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15 transactions/month (debit card, direct deposit, bill pay)
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$1,000+ direct deposit/month
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Estatements
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The Fine Print
- Offer valid on new money only (new money defined as money not on deposit with KEMBA in the past 12 months).
- Money currently on deposit at KEMBA is not eligible for this offer.
- Limit one Money Market Account offer per Primary member and Business member.
- Not available to members or Businesses with a current Money Market Account.
- Not available with any other special offers or promotions.
- The special rate is available through the end of the 12th month from the date the Money Market Account is opened. For example, a Money Market Account opened November 15, 2018 would earn the special rate through November 30, 2019.
- The Rate for this promotion will revert back to the prevailing Money Market Account rates and tiers after the end of the 12th month.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees to worry about
Our Verdict
This is only 0.5% APY higher than the top basic savings account rate currently. For most people this isn’t going to be worth the effort involved, but if you have a lot of liquid funds then the extra 0.5% could make a huge difference (e.g 250k at 0.5% APY is an extra $1,250).
Hat tip to reader Scott S
