1.50% APY best money market rates with Premier American Bank
Premier American Bank, N.A. offers an attractive interest rate for their personal high yield money market account. The money market rates are tiered like the following:
$0.01 1.00% APY
$10,000 1.25% APY
$25,000 1.50% APY
$100K 1.50% APY
These best money market rates can be opened with a minimum initial deposit of $2,500. You also need to maintain this balance to avoid a monthly fee of $12. The earnings of this money market account is compounded and credited on a monthly basis.
The usual limited number of transfers per month is implemented. When you go beyond the six free transactions, you need to shoulder a $12-fee for every transaction.
The Premier American Bank by the way is a newly chartered organization back in January. There was an agreement of assumption and purchase that FDIC entered into to protect the depositors of the bank. The takeover was done quietly by the new owner.
It will be best to check for the latest interest rates before signing up for anything. Usually, the new owner will offer good interest rates to retain and attract customers.
The bank is insured with the FDIC through certificate number 58991.
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