» Money Market Insured Account (MMI)
» Prime Money Market Account (PMM)
There are many benefits to opening a Money Market Account -
- easy access to your funds
- competitive market interest rates
- no lock-in; total liquidity
- check writing privileges
- FDIC security
Choose the Money Market that is right for you:
| Money Market Insured Account (MMI) | ||
| Minimum balance to open account | $2,500 | |
| Minimum balance to obtain Annual Percentage Yield | $2,500 | |
| Handling charge | ||
| » | Minimum balance of $2,500 or greater during monthly cycle |
None |
| » | Minimum balance less than $2,500 during monthly cycle |
$15 per monthly cycle |
| Checks paid (excess withdrawal) | $25 for each withdrawal in excess of the allowed 6 per monthly cycle |
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| Click here for deposit rates. | ||
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| Prime Money Market Account (PMM )- Personal | ||
| This is a variable rate account that is tied to the SBC Prime Rate*. The interest rate for each tier is a percentage of the SBC Prime Rate*. Each time the SBC Prime Rate* changes, so does the interest rate on your Prime Money Market Account. PERCENT OF SBC PRIME RATE* FOR TIER |
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| » | Tier 1 $10,000 - $24,999 | 35% |
| » | Tier 2 $25,000 - $49,999 | 40% |
| » | Tier 3 $50,000 - $99,999 | 45% |
| » | Tier 4 $100,000 - $1,000,000 | 50% |
| » | Tier 5 Over $1,000,000 | 55% |
| Minimum balance to open account | $10,000 | |
| Minimum balance to obtain Annual Percentage Yield | $10,000 | |
| Handling charge | ||
| » | Minimum balance of $10,000 or greater during monthly cycle | None |
| » | Minimum balance less than $10,000 during monthly cycle | $15 per monthly cycle |
| Checks paid (excess withdrawal) | $25 for each withdrawal in excess of the allowed 6 per monthly cycle |
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| *SBC Prime Rate is defined as the Prime Rate published by JPMorgan Chase Bank N.A., each business day in the Wall Street Journal. | ||
| Click here for deposit rates. | ||
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