Money market accounts are a great way to earn more interest on your money over traditional checking accounts. To find the best money market rates December 2009 you must stay on top of what is happening on a weekly basis, if not daily.
EverBank still holds the lead on interest rates for a money market account with an introductory offer of 2.51% for their APT, but drops after 3 months to 1.77% for balances under $50,000. This rate was posted on 12/04/09 and was still current as of 12/09/09. The people at EverBank have made a pledge to keep their interest in the top 5 % of competitiveness of all leading banks in the nation. So far, they have kept their pledge.
There is a Mega Money Market account that is disguised as a checking account from Redneck Bank. The APY of this account is 2.00% and is calculated daily. It is called a checking account but the 6 withdraw limit is still in place as set by the US government. This APY is available to all balances up to $35,000.
Discover Bank offers an APY of 1.75% but your balance must be over $100,000, so I will move on because for balances under $10,000, the APY is only 1.09%.
The Colorado Federal Savings Bank offers an interest rate of 1.69% with an APY of 1.70% on deposits of $2,500. This is available for money market accounts that are opened online. The APY was posted on 12/03/09 and was current as of 12/09/09.
From the Bank of the Internet out of San Diego, CA comes the interest rate of 1.540% with an APY of 1.550% on any deposit between $1 to over $100,000. The opening minimum deposit must be at least $100 and the rates were current as of 12/09/09. The main reason this bank states it can offer and sustain these higher than average rates is the reduced overhead of being an online bank.
I hope that this article helps you to find the best Money Market Rates December 2009. Money market rates are all subject to change so check with the financial institution of your choice to confirm all rates.
Related posts:
- Top 5 Checking Accounts
- High Yield Checking Accounts
- Chase Online Banking
- Citibank CD Rates – Investing in CDs
- Bank Rates Guide
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