The premise is simple—the more you save, the more you earn. With this tiered savings account, as your balance goes up, so does your interest rate, earning you a better return on your money. The money market account offers limited access to funds, including checking privileges, so you can easily access your money should you ever need to.
Requirements
- Minimum balance to open - $1000
- No monthly maintenance fee when the monthly average collected balance is $1000 or greater.
Benefits
- Competitive interest rate
- Passbooks available
- ATM/Debit cards available with no annual fee or transaction fees, as long as you have a checking account as well
- 6 free withdrawals per statement cycle
- Combined savings and checking statement
- Free internet banking
- Free phone banking
Cost
- $5 fee per statement cycle if the monthly average collected balance falls below $1000
- $2 fee for each withdrawal in excess of 6 per statement cycle