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If you have a large sum of money you need to park in a safe place for a while, Quantum National Bank has a Hi-Rate Money Market that earns 1 percent annual percentage yield. The money market rate is good for deposits of $100,000 and up. So if you have a large sum of money saved up for a house down payment, business purchase or some other financial transaction that will take place in the near future, this money market can allow you to earn a modest return on your money rather than have it sit in a non-interest bearing account.

Details of the money market account include:

  • Minimum deposit of $100 required
  • No monthly fee for balances above $1,500
  • $12 monthly fee for balances below $1,500
  • Checks are available
  • Six withdrawals per statement or you get charged $10 per excessive withdrawal

The Hi-Rate Money Market has tiered interest rates. Balances up to $9,999 earn 0.05 percent APY, $10,000 to $49,999 earns 0.15 percent APY and $50,000 to $99,999 earns 0.2 percent APY. The Hi-Rate Money Market is also available for business deposits. Accounts are available only to residents of Georgia.

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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