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Best Money Market Rates 2011

The best Money Market rates 2011 are from the financial institutions that want new customers’ banking business. These are, generally, the medium to smaller banks’ effort to entice new customers to become part of their client base. There are a few of the larger banks that have good rates, but banks like Wells Fargo, Chase, and Bank of America are not part of the group with rates of 0.05%, 0.10% and 0.10%, respectively.

Looking on the internet for the best Money Market rates, one can find what is considered a decent rate for the economic times. From the AmericaNetBank, there is the best rate for a money market account at the present time. The APY is at 1.75% on balances up to $35,000. Balances above $35,000 receive an APY of 1.00%. Like all MMA, there are 6 withdrawals permitted before a fee is applied for this service. There is no minimum deposit required.

The New Century Bank has changed its name to Customers Bank. This financial institution was formed in 1997 and is located in Phoenixville, PA. Their money market account requires a minimum deposit of $50, and a balance of $1,000 is required to avoid a monthly maintenance fee. Their interest for the MMA is in a tiered format. For a minimum deposit of $50 the APY is 0.50%, for $10,000 the APY is 0.65%, for $25,000 the APY is 0.75%. For the month of January 2011, the promotional MMA rate for all deposits below $9,999.99 is earning an APY of 1.00%. For balances above $10,000, the APY is 1.50%.

 

All of the stated best Money Market rates 2011 were accurate as of January 18, 2011, but are subject to change without notice.

 

This entry was posted on Tuesday, January 18th, 2011 at 6:00 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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