A Money Market Savings Account is set up to earn a higher return of dividends than a traditional savings account. Check rates.
Why is a Money Market account a good option?
While earning a higher rate of interest your funds are available for withdrawal at any time.
How can I earn a higher dividend rate?
The rate increases as your balance grows. You may want to consider adding funds from other institutions to your account, allowing you to earn an even higher rate of return on your funds.
Minimum balance to obtain the disclosed annual percentage yield– You must maintain a minimum average daily balance of $2,500.00 in your account to obtain the disclosed annual percentage yield.
Addition limitations – You may make unlimited additions to your account.
Limitations on frequency of transfers – During any statement period, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer, or telephonic order or instruction. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to additional charges or closure.
Dividends – Other than the items noted above, dividends are credited, compounded and paid in the same manner as a Regular Share account.