High yield savings

The Susquehana Community Bank’s Eagle Premium Savings Account is the best high yield savings account we’ve seen so far.  Note that this is not Susquehana Bank which is different.  Their new high interest rate is at 3% for 6 months then 2.53% APY ongoing.   Whoa! This rate though is for someone with a lot of cash to hold on to since you need to have at least $100,000 to deposit to get this high interest rate.

High Interest Savings Account Details:

  • Interest Rate:  3% for 6 months then 2.53% APY ongoing.
  • Minimum amount:  $100k initial deposit
  • Fees:  $20 per debit over 1 every 6 months
  • Two Factor Authentication:  From what we could tell, they do have this

The ongoing rate is based on prime rate minus 3% so that if rates go up, the savings APY will go up with it.  Also, there’s additional fine print that says that you can only do one transfer out each 6 month period.  Anything over that and you get charged $20.  Of course always read the fine print of any service / product you sign up for to be sure you know what you’re getting in to.  They mention providing the “best banking experience” on their website.

Our Impression

This is a great interest rate though its a small sized bank.  They mention on their website of a few awards they’ve received Generally, if I’m going to put such a large amount of money into a bank, I’d want to do it in a larger bank.  The high yield interest account rate is second to none.  Please see our list of best high interest accounts .

Who is Susquehanna Community Bank?

This local community bank was established in 1920.  This is a smaller sized bank with only six branches and headquarters located in West Milton, Pennsylvania.  They have approximately $422 million in assets.  They are likely using the high yield interest rate as a way to grow their assets outside of the local Pennsylvania region.

 

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