3.00% APY high yield savings account with Baxter Credit Union

Baxter Credit Union has a very attractive money in the bank deal called Rainy Day Savings that initially yields 1.50% APY for the first 12 months. This high interest savings account yields double or 3.00% APY after a year from opening. The best interest rate for this savings account is given to account holders who can inject at least $25 with a max of $500 of deposit monthly into their account.

BCU does not require any minimum balance to open the account but they limit the initial deposit to $1,000. It comes with some perks like being able to receive direct deposits to your savings account but you are limited to 2 withdrawals every year. Any excess transaction will cost you $25.

There is also an early withdrawal penalty for this high yield savings account. You can not take out part of your funds within the first 3 months upon opening or you need to pay $25. Anything that falls below the minimum deposit requirements per month will get the interest rate of their regular share.

Of course you need to be a member to open the Rainy Day savings account. You can get into BCU if you live in or work at specific parts of Illinois or Wisconsin. You can also sign up through employee grous and family. BCU requires a share savings deposit of at least $5.

Once you are a member of the credit union, you can use the online forms on their website to open the account that you want. You can call their member relations line through 800-388-7000.

Baxter Credit Union has some 138,000 members with assets of around $1.4 billion. The group is listed with the NCUA through charter #68187.

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