Southern California residents are entitled to apply for a healthy 1.25% APY money market rate on a Premium Money Market account through OneWest Bank. To qualify for the money market rate, customers need to be aware of certain terms including:
- $1,000 minimum opening balance
- Interest compounded daily and paid or reinvested into the account monthly
- No interest is paid if account balance drops below $1,000 (daily basis)
- Depositors must maintain an $1,000 balance to avoid service charges of $7
- Limited check writing included (Six transactions per month)
- Free online banking services including e-statements and bill pay
- First box of checks free
- FDIC insured
OneWest Bank has dozens of locations throughout Southern California and to open a Premium Money Market account a visit to one of them is required. Some banking branch options include Arcadia, Cerritos, Encino, Huntington Beach, Monterey Park, Santa Monica and Whittier.
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.
