Libertad Bank is a locally owned community bank based in Austin, home of the winning Texas Longhorns.  Libertad Bank is also winning with their unbeatable free checking account.  Libertad Bank is a Texas State Savings Bank and a Member of the Federal Deposit Insurance Corporation.

Libertad Bank is running a promotion for a free checking account that earns an interest rate of 5.05% APY.  Libertad Bank calls this checking account, Amazing Checking.  The checking account has the folowing features: refunded ATM fees incurred by other banks nationwide, a Visa Debit Card, Internet banking and online bill pay for free, no minimum balance, low opening balance of $100.00, no maintenance fees or hidden service charges with this free checking account.

There are certain qualifications for this checking account that include:
the checking accountholder must make at least 10 debit card transactions per month,
the accountholder must make one monthly direct deposit or electronic payment
and they will receive the checking account statements electronically.

The interest rate of 5.05% APY is based on a tiered rate structure.  The 5.05% APY interest rate is paid on balances of $.01 to $25,000 and a 1.01% APY interest rate is paid on balances over $25,000 as long as qualifications are met each qualification cycle. A 0.50% APY interest rate will be earned on all balances if qualifications are not met.  ATM fees nationwide are automatically refunded at the end of your statement cycle when the accountholder meet the qualifications.  Interest rates may change after the account is opened.

For additional savings options, Libertad Bank offers an interest bearing money market account is account designed for those that carry a high balance and want a higher rate of return on their available funds.  The bank offers a standard savings account and CDs with terms from 30 days to 5 years.

Libertad Bank can be reached at 512-693-3600.  The bank web site can be viewed at www.libertadbank.com.  Information updated as of January 6, 2008.

Neither the President or the Chief Executive Officer of Libertad Bank attended the University of Texas, but since their firm does offer one of the best checking accounts in the region we are willing to overlook their poor choices in undergraduate and graduate studies.

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