Community National Bank of Lakeway Area in Morristown, Tennessee, offers Community Cash, with an annual percentage yield that’s below average, and accounts can be opened only by Tennessee residents. Bankrate’s 2014 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.
Community National Bank of Lakeway Area
Location: Morristown, TN
Nationally offered?
APY
APY if conditions not met
Monthly debit transactions required
Bill pay or automatic withdrawal required?
Direct deposit required?
Balance cap
Nationally offered? N
APY: 1%
APY if conditions not met: 0.05%
Monthly debit transactions required: 12*
Bill pay or automatic withdrawal required? Y*
Direct deposit required? Y*
Balance cap: $10,000
Notes:
Community Cash: Available only to Tennessee residents.
Debit transactions must be signature-based.
Either one direct deposit or auto payment is required per month; must have e-statements and review monthly.
Balance above $10,000 yields 0.25%, if qualifications are met.
ATM refund: Domestic ATM fees incurred during qualification cycle will be reimbursed up to 10 per monthly cycle and automatically transferred to their Community Saver account on the first day of the next statement cycle. ATM receipt must be presented for reimbursement of an individual ATM fee of $5 or more, if qualifications are met.
The advertised Community Cash APY is based on compounding interest.
Interest earned in Community Cash is automatically transferred to Community Saver each statement cycle and does not compound.
Actual interest amount paid may be less than the advertised Community Cash APY.
The Community Saver APYs may be less than Community Cash APYs.
Community Saver APY is 0.50%, if qualifications are met for the Community Cash checking account.
Community Saver APY is 0.05%, if qualifications are not met.
