Money Market Rates 101

Regions Bank is a major financial institution with its home base in Birmingham, Alabama. The bank offers a number of investment opportunities. Regions Bank money market rates depend on a number of factors including national economic outlook, regulatory directives and orders and the general financial health of the company. Following are the money market rates at Regions as of June 2010.

A basic account under the money market option at the bank can be opened for $100. Regions Money Market rates for an investment of up to $2,499 are calculated with an APY of 0.02%. A monthly fee of $10 is deducted in case the account holders fail to maintain a minimum balance of $2,500. Interest is compounded daily and paid monthly on collected balances.

An investment from $2,500 to $9,999 will accrue an APY of 0.05% whereas an investment in the range of $10,000 to $24,999 will also return an APY of 0.05%. Investments greater than this amount accrue an APY of 0.10%.

The bank also offers Platinum Relationship accounts that require a minimum opening balance of $15,000 and a checking account in the bank with direct deposit. It can also be opened if a customer has a checking account with $2,500 in balance. An APY of 0.10% is offered to customers with up to $4,999 in deposit. An APY of 0.25% is offered to those with up to $19,999 in the account and an APY of 0.50% is offered to those with up to $29,999 in their accounts. Highest returns are possible on an investment of $100,000 or more with 0.75% in APY.