Allstate Bank offers both a high yield savings account and an automatic savings program.

High Yield Savings and Automatic Savings Program

With the economy is such a condition as it is today, now it is more important than ever to have a savings account well supplied with capital.  Allstate Bank recognizes this, and thus they offer a high yield savings account.  In order to open an account at Allstate Bank one must have a $100 minimum deposit as well as a $250 minimum monthly average daily balance.  Along with the perks of getting an Annual Percentage Yield (APR) of 0.70%, the savings account also offers a free ATM card, 24 hour access to the account via phone, internet and ATM, and up to $6 per month automatic reimbursements for ATM fees at other banks.  Interest is compounded daily, and credited monthly to the savings account.

A unique option that Allstate Bank offers alongside its high yield savings account is an Automatic Savings Program.  In this program one can set up regular transfers from a checking or money market account into a high yield savings account.  There are no additional fees in the program as well.  This is a great option for those who continually forget to set aside money in a savings account and want the peace of mind of having it automatically done for them.  It is also useful for those who want to reign in their spending habits.  By setting aside a specific sum of money in a high yield savings account at Allstate Bank on a regular basis, one can make better decisions about how they want to spend the remaining money.

How to Apply for Savings Account at Allstate

There are two different ways to apply for the high yield savings account at Allstate Bank.  The first is to contact a local Allstate agent.  There are thousands of agents located from coast to coast, and thus it is convenient and efficient.  The other way is to download a form online and mail it in to Allstate Bank.  For the automatic savings program, download an enrollment form online and mail it in.  For any questions or to request an application for either of the two, simply call 1-877-794-BANK (2265). For more information read our Allstate bank review or check out our other bank reviews.