Heartland Bank recently opened a new high yield savings account called Heartland Bank Direct which offers a 5.05% APY rate. There’s a minimum opening balance of $500, but the balance can drop below $500 after it’s opened without any monthly fees.

The unique thing about this account is a bonus feature. You can earn $5 per $1,000 average monthly balance of the previous 6 months for a maximum bonus of $50. So for those who have $10K or less in deposits, the bonus would add about an extra 1% to the interest rate resulting in a rate close to 6% for the those 6 months.

This is a pretty good deal for those looking to store their money in the short term while keeping some liquidity. The bonus promotion is only limited to new customers.

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