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Dime Savings Bank has a Prime Rewards Money Market Account earning 1.01 percent annual percentage yield (APY) on balances of $75,000 and up. The money market rate is available for passbook and statement accounts. The money market has tiered interest rates that are currently at:

  • 0.2 percent APY for balances of less than $1,000
  • 0.45 percent APY for $1,000 to $24,999
  • 0.75 percent APY for $25,000 to $49,999
  • 0.9 percent APY for $50,000 to $74,999

If you maintain a Dime Savings Bank checking account you automatically qualify for the money market account. Other details of the money market account include no monthly $10 fee if you maintain an average daily balance of $2,500 and it is insured by the Federal Deposit Insurance Corp. (FDIC). For statement accounts you can write up to six checks per monthly statement, get a free ATM card or Visa check card and check your balance 24 hours a day with online banking.

The bank also has a competitive CD rate of 1.15 percent APY for a 2-year term. To open a certificate of deposit you need a minimum deposit of $500. Interest is compounded daily and credited monthly. CD terms at the bank range from 3 months to 7 years. Dime Savings Bank is based in New York.

Disclaimer:This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

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