OIB Reward Checking

This free, high-interest checking account rewards you every day. Not only does free really mean free with OIB, but you'll also enjoy unlimited ATM fee refunds nationwide.

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Summary
  • 3.01% APY* interest paid on balances up to $25,000
  • 0.51% APY* on portion of balance above $25,000
  • 0.05% APY* if qualifications are not met
  • Unlimited ATM refunds nationwide
  • See Qualifications tab for three, simple rewards qualifications
  • No monthly service charge
  • No minimum balance requirements
  • Minimum deposit to open: $100
  • Free MasterCard® check/debit card
  • Free online banking with bill pay
  • Interest compounded daily, paid monthly

*APY = Annual Percentage Yield; interest rate is subject to change. See More Info tab for full details.

Qualifications

To receive the rewards APY* rate and ATM refunds, these minimum requirements must be met. You're probably doing these anyway. If not, you'll soon learn they make your life easier.

  • Make at least 12 debit card transactions per qualifying cycle (does not include ATM transactions)
  • Make at least one direct deposit or automatic ACH debit per qualifying cycle
  • Receive monthly statements electronically (eStatements)

If these qualifications are not met, your OIB Reward Checking account is still totally free, and will receive the base interest rate of 0.05% APY*. Your account is automatically eligible to receive the higher interest rate and ATM refunds the following cycle.

More Info

3.01% Annual Percentage Yield (APY) paid on balances up to $25,000 (interest rate for balance between $.01, but less than or equal to $25,000, will be 3.1015%), and 0.51% APY (interest of 0.5087%) paid on all amounts above $25,000 each cycle the minimum requirements are met. If you do not meet the requirements per cycle, your account will still function as a free checking account earning Base 0.05% APY (interest rate of 0.05%); however it will not receive ATM refunds for that time period. If your balance is between $25,000 and $100,000, then the annual percentage yield will range from 3.01% to 1.14%. Rates as of 9/9/10. We may change the interest rate and APY at any time after the account is opened. No minimum balance required. However, you must deposit a minimum of $100 to open the account. Available to personal accounts only. No monthly service charge.