Money Market Account Rates Deal of the Day: Private Bank of Minnesota at 1.11% APY

As interest rates remain at historic lows, consumers are struggling to find the greatest return on their investment. That is why many consumers opt to deposit their resources into money market accounts as they tend to generate a higher interest rate than traditional savings account.

One such place proving the point is the Private Bank of Minnesota. The financial institution offers tiered money market accounts so the more money you deposit, the higher rate of return you can earn.

The current tier structure is:

• Money market account deposits ranging from $0.00 – $2,500.00 can earn .05 % APY
• Money market account deposits ranging from $2,500.01 – $25,000.00 can earn a .25 % APY
• Money market account deposits ranging from $25,000.01 – $100,000.00 can earn a .75 % APY
• Money market account deposits ranging from $100,000.01 – $1,000,000.00 can earn a 1.00 % APY
• Money market account starting at $1,000,000.01 and above can earn 1.11% APY

The money market savings account offered by Private Bank Minnesota has variable interest rate. In addition to this term, there are other things you need to know before opening the account including:

• Withdrawal transactions capped at six and additional penalties will apply for exceeding the limit
• No minimum balance required
• No monthly maintenance fees
• Account comes with complimentary online banking with e-statements
• FDIC insured

The Private Bank of Minnesota was founded in 1996 with the mission to “creatively serve entrepreneurs, professionals, businesses and their owners.” Currently The Private Bank of Minnesota has one branch located in downtown Minneapolis.

>> Top Money Market Account

Other Terms and Conditions may apply. Additionally, rates may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.