First Bank & Trust in Pipestone, Minnesota, offers FREE easyGROW Checking, with a below-average annual percentage yield. Bankrate’s 2016 High-Yield Checking Survey breaks down the returns you can get with each account and the hoops you’ll have to jump through to get them.

First Bank & Trust
Notes: FREE easyGROW Checking: Available to residents of South Dakota, North Dakota, Minnesota, Iowa and Nebraska. *Either 1 direct deposit or automatic payment per month is required, and must enroll in e-statements. Balance of $25,000 or above yields 0.25%, if requirements are met. ATM fee refund: Unlimited, if requirements are met.
Location Pipestone, MN
Is it offered nationwide? No
APY % 1.01%
Default APY 0.05%
Number of monthly debit transactions required 10
Is bill pay or automatic withdrawal required? Yes*
Direct deposit required? Yes*
E-statements required? Yes
Balance cap $24,999.99
APY above cap 0.25%

*See notes section for more details.

Bankrate.com canvassed banks, thrifts and credit unions Feb. 16-22, 2016, and displays data on 56 high-yield checking accounts.

Promoted Stories