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Rates

Kasasa Saver doesn’t just pay high interest — it pays you on top of rewards. Link up your Kasasa® checking for maximum earnings.

Key Features

Automatic Reward Transfers

High Interest

No Monthly Maintenance Fees

Digital Banking

  • 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% APY1 on balances up to $9,999.99
  • 0.75% to 0.30% APY on balances over $9,999.99 depending on balance in account1
  • 0.05% APY1 if qualifications are not met in Kasasa Cash or Kasasa Cash Back
  • 6 withdrawls or transfers per statement cycle2
  • No monthly maintenance fees
  • No minimum balance to earn rewards
  • Free online banking
  • Free mobile banking
  • Free eStatements
  • $100 minimum deposit to open

Earn Your Rewards Stress-Free

Qualifying for your Kasasa Cash or Kasasa Cash Back rewards automatically qualifies you for the highest Kasasa Saver rate, too. Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash or Kasasa Cash Back account during each Monthly Qualification Cycle:

  • At least 1 ACH credit or ACH payment
  • At least 12 debit card purchases
  • Be enrolled in and agree to receive eStatements

So easy. And if you don’t meet your qualifications one month, your accounts are still free, and you’ll still earn our base interest rate for Kasasa Saver. Then you can get back to earning your full rewards the next month.

Kasasa Cash Back w/Saver1Qualification Information: 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 card purchases processed by merchants and received by our bank as ATM transactions, purchases made with debit cards not issued by our bank, and bill payments made through Security Federal Bank’s online banking. “Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle.  Reward Information: When Kasasa Cash Back account qualifications are met during a Monthly Qualification Cycle, the following rewards will be distributed to your account(s) on the last day of the current statement cycle and will be treated as interest for IRS (Form 1099-INT) reporting purposes:

Kasasa Saver: Balances up to $10,000 receive APY of 0.75%; and balances over $10,000 earn 0.25% interest rate on the portion of balance over $10,000, resulting in a range from 0.25% to 0.30% APY depending on the account’s balance.  Kasasa Cash Back: (1) you will receive 2.00% cash back on up to a total of $300.00 debit card purchases that post and settle to the account during that cycle period. A maximum of $6.00 cash back may be earned per Monthly Qualification Cycle (2) you will receive ATM reimbursements (max. of $4.99 per single transaction) for nationwide ATM withdrawal fees imposed by other financial institutions.  An ATM receipt must be presented for reimbursements of individual ATM withdrawal fees of $5.00 or higher. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.  When Kasasa Cash Back qualifications are not met all balances in Kasasa Saver will earn 0.02% APY. Kasasa Cash Back: No cash back payments are made if qualifications are not met. APY = Annual Percentage Yield. APYs accurate as of 6/11/2018. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings. Additional Information: Account approval, conditions, qualifications, limits, timeframes and other requirements apply. A $50 minimum deposit is required to open the Kasasa Cash Back account and a $100 minimum deposit is required to open the Kasasa Saver account. Qualifications and rewards may vary by account. Enrollment in electronic services (e.g. online banking, electronic statements) may be required to meet some of the account’s qualifications. Limit 1 account per social security number. There are no recurring monthly service charges or fees to open or close this account. Contact one of our bank service representatives for additional information, details, restrictions, processing limitations and enrollment instructions. Kasasa and Kasasa Cash are trademarks of Kasasa, Ltd., registered in the U.S.A.

Kasasa Cash w/Saver 1Qualification Information: 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 card purchases processed by merchants and received by our bank as ATM transactions, purchases made with debit cards not issued by our bank, and bill payments made through Security Federal Bank’s online banking. “Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle.  Reward Information: When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, the following rewards will be distributed to your account(s) on the last day of the current statement cycle and will be treated as interest for IRS (Form 1099-INT) reporting purposes: (1) Balances up to $10,000 receive a non-compounding APY of 2.00%; and balances over $10,000 earn 0.25% interest rate on the portion of balance over $10,000, resulting in a non-compounding range from 2.00% to 0.41% APY depending on account’s balance (2) you will receive ATM reimbursements (max. of $4.99 per single transaction) for nationwide ATM withdrawal fees imposed by other financial institutions.  An ATM receipt must be presented for reimbursements of individual ATM withdrawal fees of $5.00 or higher. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction. When Kasasa Cash qualifications are not met, all balances earn a non-compounding APY of 0.02%. APY = Annual Percentage Yield. APYs accurate as of 06/11/2018. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings. Additional Information: Account approval, conditions, qualifications, limits, timeframes and other requirements apply. A $50 minimum deposit is required to open the account. Qualifications and rewards may vary by account.  Enrollment in electronic services (e.g. online banking, electronic statements) may be required to meet some of the account’s qualifications. Limit 1 account per social security number. There are no recurring monthly service charges or fees to open or close this account. Contact one of our bank service representatives for additional information, details, restrictions, processing limitations and enrollment instructions. Kasasa and Kasasa Cash are trademarks of Kasasa, Ltd., registered in the U.S.A.

2A regular savings account can be used as a companion account for overdraft protection. During any statement cycle, you may not make more than 6 withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.