Kasasa Saver
Kasasa Saver: Easy Automatic Savings
Kasasa Saver is a free, high-interest account linked to free Kasasa Cash checking. Here's how it works: the massive interest and ATM fee refunds earned on Kasasa Cash are automatically deposited into Kasasa Saver every month. But that's not all. Your Kasasa Saver balance also earns high interest, so you can sit back, relax and watch your savings grow!
- Summary
- Earn interest on both Kasasa Cash and Kasasa Saver accounts
- Earns 1.00% APY* on entire balance
- Earns 0.05% APY* on balance if easy qualifications aren't met
- ATM fee refunds nationwide** for Kasasa Cash (up to $25 per monthly qualification cycle)
- No minimum balance to earn rewards
- No monthly service fee
- Free e-statements
- Free online banking with Bill Pay and FinanceWorks
- Linked to free Kasasa Cash account
- Free checking that earns 2.00% APY* on balances up to $50,000
- Or earns 0.05% APY* on all balances if easy qualifications aren't met
- These earnings automatically deposited in Kasasa Saver
- Minimum to open account is $100
- FDIC insured
Qualifications
Qualifying for the highest rates couldn't be easier, simply do the following each monthly qualification cycle:
- Have at least 10 debit card purchases post and clear (excluding ATM transactions)
- Have at least one direct deposit or ACH auto debit† post and clear
- Receive monthly e-statements
There. Like we said, super easy. But if you don't qualify, don't worry. Both accounts are always free and still earn our base rate of interest. Plus, you can get back to earning the reward interest rates and ATM fee refunds the very next qualification cycle!
*APY=Annual Percentage Yield. Minimum to open account is $250 for Kasasa Cash and $100 for Kasasa Saver. APYs are accurate as of 4/30/2012. Kasasa Cash rate tiers are as follows: balances up to $50,000 receive an APY of 2.00% if qualifications are met each qualification cycle. Balances above $50,000 receive an interest rate of 0.50% on the portion of the balance above $50,000 if qualifications are met each qualification cycle. As a result, the APY for balances above $50,000 will range from 2.00% - 1.00% if qualifications are met each qualification cycle, depending on the balance in the account. If qualifications are not met, the APY will be 0.10% on all balances. The advertised Kasasa Cash APY is based on compounding dividends. The interest earned in Kasasa Cash is automatically transferred to Kasasa Saver each statement cycle and then begins compounding at the Kasasa Saver APY. The actual interest paid may be less than the advertised APY. The Kasasa Saver APYs may be less than the Kasasa Cash APYs. Kasasa Saver balances up to $50,000 receive an APY of 1.00% if qualifications are met each qualification cycle on your Kasasa Cash account. Balances above $50,000 receive an interest rate of 0.50% on the portion of the balance above $50,000 if qualifications are met each qualification cycle on your Kasasa Cash account. As a result, the APY for balances above $50,000 will range from 1.00 – 0.67% if qualifications are met each qualification cycle, depending on the balance in the account. If qualifications are not met, the APY will be 0.10% on all balances. The qualification cycle is not the same as your monthly statement cycle. Qualifying transactions must post and clear to the Kasasa Cash account during the qualification cycle. Transactions may take one or more banking days from the date the transaction was made to post and clear the account. ATM transactions and transfers between your accounts with us do not count as qualifying transactions. Monthly qualification cycle means a period beginning one business day prior to the first day of the current statement cycle through one business day prior to the close of the current statement cycle. Contact us for more information about the qualification cycle. **ATM fee reimbursements will be credited to your Kasasa Cash account on the last day of your statement cycle and will be transferred to your Kasasa Saver account on the first day of the next statement cycle. ATM fee reimbursements up to $25 per statement cycle provided in Kasasa Cash only if qualifications are met within the qualification cycle. Direct Deposits include payroll, Social Security, and other government benefits, and tax refunds. Rates may change after the account is opened. Fees may reduce earnings. Limit one account per household (SSN).
