Massena Savings & Loan is pushing for the best interest rate with their money market account. The bank lets you earn an interest rate of 1.02% APY when you open an account and make an initial deposit of at least $2,500. You must also maintain a daily balance of $2,500 or more in order to earn this best money market rate.

The dividend of this money market deal is compounded and paid on a monthly basis. Federal regulations allow you to make up to 6 transfers or withdrawals per statement cycle. You can make pre-authorized, automatic, telephone, or check transfers or withdrawals from the account. You will have to pay for a certain fee whenever you make a transaction when you already exceed the limits for transfers and withdrawals.

The bank also provides another benefit that you can take advantage of, and this is to manage your own account by simply signing-up for online banking. You can check your transaction history, view your electronic bank statement, and even pay your bills anytime you need to. Please do remember that this interest rate of this money market account is subject to change anytime without prior notice.

You will be required to visit one of the bank’s branch to open an account. Massena Savings & Loan have branches in New York state in the cities of Waddington and Massena. Please bring valid pictured identification like driver’s license, passport, or state issued ID since this will be use to verify you and your current address. For more detailed information about this best money market rate and the bank’s requirements you may call their customer service line at 315-764-0541 or 315-388-4970.

Massena Savings & Loan was organized on March 24, 1924. they have been offering a wide range of deposit account and loans which will benefit it customers to meet their financial needs. Currently, they have over $135 million in declared assets. The bank is also a member of the Federal Deposit Insurance Corporation and has a certificate number of 30429.