VirtualBank money market rates
Category: Bank Deals, Money Market Rates- fhuff- 12:47 pm/ June 20, 2011Do you have a large sum of money that needs to be parked in a savings account for a while, such as a down payment on a home? VirtualBank has an eMoney market account that is earning 1.06 percent annual percentage yield (APY) on deposits of $100,000 and up. The money market rate is current as of June 20, 2011. Interest rates are subject to change at any time. Tiered interest rates are available for lower balances. Details of the money market offer include:
- Minimum opening deposit of $100
- No monthly fees
- Free online statements
- Free transfers from your existing personal checking account
- Free electronic deposits and withdrawals
- Maximum of six withdrawals and preauthorized transfers per statement cycle
Interest on money market accounts is compounded daily and credited monthly. Fees on the account may reduce your earnings. The money market account does not allow wire transfers, mail in deposits or issuance of bank checks. During the first 30 days that the money market is open there will be a hold on funds deposited into the account for 10 business days.
VirtualBank is the Internet banking division of Lydian Private Bank, based in Palm Beach County, Fla. Accounts held at the bank are insured by the Federal Deposit Insurance Corp. (FDIC).
- 6 Month CD %
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- 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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