Do you have a large sum of money such as an emergency fund or down payment for a house that you need access to but want it to earn some interest? Quantum National Bank has a Hi-Rate Money Market with a 1.4% annual percentage yield (APY) on balances of $100,000 and up. The money market rate is 0.3% APY for balances of $50,000 to $99,999, 0.15% APY for $10,000 to $49,999, and 0.1% for balances below $10,000. Other details of the money market account include:
- $100 minimum opening deposit
- No monthly fee for balances above $1,500
- $12 monthly fee for balances below $1,500
- Check writing available
- Six withdrawals allowed per statement cycle
The bank also has a Hi-Rate Checking Account that earns 0.7% APY on balances above $10,000 and 0.1% on balances below $10,000. The checking account has no monthly fee on accounts with an average daily balance of at least $2,500. Accounts that fall below that amount are charged a monthly service fee of $15. It also has a $100 minimum opening deposit.
Quantum National Bank is based in Suwanee, Ga., and you must be a resident of Georgia to open an account. The interest rates are current as of Nov. 19, 2010.
- 6 Month CD %
- 1-year CD %
- 2-year CD %
- Money Market Account %
- Savings Account %
- 30-year Fixed Mortgage 3.57 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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