1.00% APY Best money market rate with Community Federal Savings Bank
Community Federal Savings Bank continues to provide attractive interest rate for their money market account. This best money market account is tiered and has the following current interest rates:
- $0 to $2,499.99 0.50% APY
- $2,500 to $24,999.99 0.75% APY
- $25,000 to $99,999.99 1.00% APY
- $100,000 and above 1.00% APY
You can start earning these best money market rates when you deposit a minimum of $2,500 to open an account. You also need to maintain an average daily balance of $2,500 to avoid the monthly service fee and to earn these best interest rates. Of course, the higher the balance on your account the better dividend rates you earn. Take note that the interest rates may change any time without prior notice.
The earnings of this money market deal are is compounded daily and credited monthly on your account. You can make no more than 6 transfers or withdrawals to your other account or to third party per statement cycle. The transfer or withdrawal can be process by means of pre-authorized, online, phone, automatic, or check. In case you exceed the limit, you will have to shoulder a fee which will be charged on your account per transaction made.
When you take advantage of this money market account, not only will you earn the best interest rates but you also get to enjoy their other benefits like free online banking with bill pay, free telephone, banking, and free electronic bank statements.
A branch visit is required to open an account. You must also bring your valid picture identification like driver’s license or passport as part of their requirements. Community Federal Savings Bank has 2 branches located in the cities of Queens and New York in the state of New York. You can also contact the bank’s customer service line if you have questions with regard to their money market account, current interest rates, or requirements at 718 847-6333.
Community Federal Savings Bank has been providing financial assistance to its customers since 2001. The bank is also a member of the Federal Deposit Insurance Corporation and has a certificate number 17528.












