Allstate Bank High Yield Savings Review
Allstate Bank’s high yield savings account features a current yield of 2.75% APY, subject to change on a weekly basis. The details for opening and maintaining your High Yield Savings Account with Allstate Bank include:
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Opening your account with a minimum of $100
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Keeping a minimum of $500 in your account at all times in order to avoid a $4 per month fee
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ATM card with reimbursements for using other banks ATM’s for up to $6 per month
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Interest is compounded daily and credited to the account on a monthly basis
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You cannot write checks from your high yield savings account balance.
Currently, Allstate Bank is running a promotion on the High Yield Savings account, where new customers can earn an additional 1.25% for 90 days on balances in the high yield savings accounts. The combined yield for the standard 2.75% and the promotional 1.25% gives you a 4.00% APY for the 90 day promotional term.
It is unknown whether the bank will perform a hard or soft pull of your credit when setting up your account, but they will do a credit check. Accounts can be opened at a local Allstate branch or mailing in the application with your check for deposit
Once your account is open, you can make deposits via Allstate ATM’s, direct deposits, ACH transfers from other bank accounts, or through the mail. Withdrawals can be done via a debit card (if you qualify for one, determined by your credit history).
Tags: allstate bank, high yield savings accounts, interest rate promotions
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