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MONEY MARKET ACCOUNT » MMA

Posted in Banking, Local Banks, Money Market, Rates

The money market rates at Greystone Bank have dropped a bit since we lasted reported on them in June. Here is an updated of the bank's money market rates:


  • o.75% APY - $25,000 to $49,999
  • 1.26% APY - $50,000$99,999
  • 1.51% APY - $100,000-$749,999
  • 1.77% APY - $750,000 and above

While the rates on the account have dropped, the details remain the same:

  • Additional deposits may be made
  • Interest is compounded daily and credited to the account
  • Tiered interest rates apply; the more you deposit, the more interest you earn
  • Service charges apply if the balance drops below $25,000

Government Restrictions

  • Up to six withdrawals or transfers allowed each month (3 may be by check)
  • After three electronic withdrawals in a month, there is a charge for each additional electronic transfer
  • If more than six withdrawals are made in a month, the account may convert to a non-interest bearing account

The minimum deposit is $25,000 to get you started. You can apply online by filling out the application, printing it and faxing it to the bank.

>> Competitive Money Market Accounts

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.



Posted in Banking, Money Market, Online Banks, Rates

The Money Market Maximizer Account from Amboy Direct has lowered its 3-month introductory rate to 2.00% APY from the 2.25% we reported in June. However, the rest of the account remains the same. Here is an update on the rates:


  • 1.31% APY - $100,000 to $250,000
  • 1.31% APY - $30,000 to $99,999
  • 1.01% APY - $5,000 to $29,999
  • 0$ APY - 1.00% 0 to $4,999

Some additional details to remember include:

  • Accounts with balances of $30,000 or higher can obtain higher rates
  • No monthly service fees

$100 minimum is required to open the account.

>> Money Market Account Rates

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.



Posted in Banking, Local Banks, Money Market, Rates

In August, we reported on money market rates from Intervest National Bank . Since then, the rates have lowered some. Here is an update on the rates:


  • 1.25% APY rate with deposit of $2,500-$24,999.99
  • 1.33% APY rate with deposit of $25,000-$49,999.99
  • 1.40% APY rate with deposit of...


Read Full Article: Update on Money Market Rates from Intervest National Bank in New York and Florida

Posted in Banking, Credit Union, Money Market, Rates

Following the trend of many other banks and credit unions around the country, Delta Community Credit Union has lowered its money market account rates from those we reported in September . The new rates are as follows:


  • 1.65% APY - $100,000.01 +
  • 1.50% APY - $50,000.01 - $100,000
  • 1.40% APY -...


Read Full Article: Money Market Rates Lower at Delta Community Credit Union in Georgia

Posted in Banking, Local Banks, Money Market, Rates

One World Bank in Dallas, Texas is offering a a competitive money market promotion that is guaranteed through March 31, 2010 . While the promotion is not listed on the bank's website, the Dallas Morning News posted an ad .


A few details of the account include:

  • Minimum opening deposit...


Read Full Article: Promotional 2.15% APY Money Market Account at One World Bank

Posted in Banking, Local Banks, Money Market, Rates

Not too long ago we told you that Coastal Carolina National Bank was offering a competitive money market rate ; however, the rate has still dropped some, though it's still a competitive 2.00% APY for its top tier.


Here is a list of current tiers for the Premier Money Market Savings Account :

...

Read Full Article: Coastal Carolina National Bank Drops Top Money Market Rate to 2.00% APY

Posted in Banking, Local Banks, Money Market, Rates

A competitive rate of 1.50% APY is available with the Premium Money Market Deposit Account at Bank of Granite . Here is a complete list of tiers:


  • 1.50% APY - $15,000 or greater
  • 0.50% APY - $10,000 - $14,999.99
  • 0.25% APY - $2,500 - $9,999.99
  • 0.20% APY - $0.01 - $2,499.99

The minimum...



Read Full Article: Bank of Granite Offers in North Carolina 1.50% APY with Premium Money Market Account

Posted in Banking, Local Banks, Money Market, Rates

A competitive 2.00% APY money market rate is available at New Century Bank . This is promotional rate that requires that you also open a checking account to qualify. Here are the rates and features for this account:




Read Full Article: New Century Bank in Pennsylvania Offers 2.00% APY Money Market Rate

Posted in Banking, Local Banks, Money Market, Rates

The Insight Money Market Account at Insight Bank offers a competitive 1.40% APY top tier . Here is a full list of tiers for the account:


  • 1.40% APY - $99,000 and more
  • 1.30% APY - $50,000 - $98,999.99
  • 1.20% APY - $25,000 - $49,999.99
  • 1.00% APY - $2,500 - $24,999.99
  • 0.25% APY - $0.01 -...


Read Full Article: 1.40% APY Money Market Rate at Insight Bank in Ohio

Posted in Banking, Credit Union, Money Market, Rates

If you've been looking to get a money market account with Wings Financial Credit Union , you may be disappointed to learn that the previous rates we reported have since dropped. Here is a current list of rates from the credit union as of Dec. 16, 2009:


  • 2.02% APY - $100,000 or greater
  • 1.87%...


Read Full Article: Wings Financial Credit Union Lowers Money Market Rates

Learn More About Money Markets Accounts

Money market accounts are similar to checking accounts, but they allow consumers the opportunity to make returns on deposited money. They are often compared to mutual funds; however, they are considered safer because they keep share prices at $1.

Money market accounts can be acquired through almost any local financial institution. As with checking accounts, opening money market accounts give you immediate and regular access to your funds through a checkbook. Also, they require no minimum transaction amount and allow for fast and easy cash deposits.

Once you invest in a money market account, a money manager will take your cash then invest it in t-bills, bonds, CDs, commercial papers or mutual funds. After interest is earned on your investment, the manager pays you your portion of the earnings. Unlike CDs that have interest rates that mature over time, money market accounts require additional deposits to benefit from higher interest returns.

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