At Newton Federal Bank, we want to make saving as easy as possible — that's why we offer free Kasasa Saver®, an account that connects to your equally free Kasasa Cash® or Kasasa Cash Back® checking.
Free Kasasa Saver
- Free account that builds your savings effortlessly
- Links to free Kasasa Cash or Kasasa Cash Back checking
- Automatic transfers of Kasasa Cash or Kasasa Cash Back earnings
- 0.75% APY* on balances up to $50,000
- 0.75% to 0.42% APY on balances over $50,000 depending on balance in account*
- 0.03% APY* if qualifications are not met on Kasasa Cash or Kasasa Cash Back
- No monthly service fee
- No minimum balance to earn rewards
- Free online banking
- Free mobile banking
- Free eStatements
- $25 minimum deposit to open
EARNING YOUR REWARDS IS EASY!
Qualifying for your Kasasa Cash or Kasasa Cash Back account automatically qualifies you for the highest Kasasa Saver rate too. To earn your rewards, just do the following transactions and activities in your Kasasa Cash or Kasasa Cash Back account during each Monthly Qualification Cycle:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive eStatements
- Be enrolled in and log into online banking
That's it! And even if you don't meet your qualifications during the month, your Kasasa® accounts are still free — and you'll still earn our base rate of interest on Kasasa Saver. Plus, you can get right back to earning your full rewards the very next month.
Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit and credit card purchases processed by merchants and received by our bank as ATM transactions, non-retail payment transactions and purchases made with debit or credit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
"Monthly Qualification Cycle" means the current statement cycle.
Contact one of our branch service representatives for specific Monthly Qualification Cycle dates.
When your linked Kasasa Cash, or Kasasa Cash Back account qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $50,000 in your Kasasa Saver account earn an APY of .75% and daily balances over $50,000 earn an interest rate of .25% % on the portion of the daily balance over $50,000, resulting in a range from .75% to .42% APY depending on the account's daily balance (assuming an average balance of $150,000).
When your linked Kasasa Cash or Kasasa Cash Back account qualifications are not met, the entire daily balance in the Kasasa Saver account earns an interest rate of .03% resulting in an annual percentage yield of .03% APY.
Interest will be credited to your Kasasa Saver account on the last day of the current statement cycle.
APY = Annual Percentage Yield.
APYs accurate as of 05/04/2020.
APY calculations are based on an assumed balance of $50,000 + $100,000 in your Kasasa Saver account and an assumed statement cycle of thirty-one (31) days.
Rates, rewards, and bonuses, if any, are variable and may change after account is opened without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.
Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply.
$25.00 minimum deposit is required to open the account.
Monthly eStatements is a condition of this account.
Enrollment in electronic services (e.g. online banking, e-statements) and log-ons may be required to meet some of the account's qualifications.
Limit of one (1) account per Social Security Number.
There are no recurring monthly maintenance charges.
A Kasasa Cash or Kasasa Cash Back account is required to have a Kasasa Saver account.
A linked Kasasa Saver account is required for automatic savings.
Advertised information and rewards are based on all account qualifications being met during each cycle period.
Contact one of our bank service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.
Kasasa, Kasasa Cash, Kasasa Cash Back, Kasasa and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.