If you choose the rewards account, you’re required to make at least 10 check card transactions per month. If you have less than $10,000 in your account, you can get an annual percentage yield of 5.25%. If you have more than $10,000, your APY is 2.25%. This compares to a 4.77% APY with a interest-bearing checking account from FAA Credit Union in Oklahoma City, which requires a minimum balance of $1.
With a Redneck Mega Money Market Account, you can earn 3.1% APY if your balance is less than $35,000 and 1.65% if your balance is more than that. This compares to an APY of 2.02% if you have money market account with AllNations Bank in Calumet, Okla., which requires a minimum balance of $2,500. To compare rates on similar accounts available in your area, go to BankingMyWay.com and enter your state or ZIP code.
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The company says the Mega Money Market Account is the "redneck version" of a savings account. It earns a decent interest rate, but it may force you to think twice before you dip into your cash.
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