1st Constitution Bank’s “1st Constitution Direct” branch is offering a 1.95% APY online savings account.

1st Constitution Direct’s online savings account is available to consumers in all 50 states. Account holders will earn 1.95% on their money if they have balances greater than $3,000 and a 1.00% APY on their money if their balance drops below $3,000. The account requires a $100 minimum initial deposit and there are no monthly service charges regardless of your account balance. The account does not offer check writing privileges or an ATM card. The bank allows for joint accounts but POD beneficiaries are not allowed.

Account holders of 1st Constitution Direct’s Direct Savings Account can transfer funds in and out of the account via ACH electronic transfer. The bank uses the trial verification method to verify one’s external accounts and places no limit on the number of links placed to external accounts. The bank does no charge for ACH electronic transfers and additional links can be created by following the instructions on their website. Per federal law, customers can make an unlimited number of ACH transfers into the account and up to 6 transfers out of the account per month. 1st Constitution Direct places no limit on the total value of the ACH electronic transfers done.

1st Constitution Bank is based in New Jersey and has several branches throughout the state. The bank has been FDIC insured since 1985, has $475.3 million in asset and a total of $378.8 million in deposits. 1st Constitution Bank receives a 4-star “sound” rating by Bankrate.com’s “safe and sound” rating system.