Urban Trust Bank offers best money market rate at 1.55% APY
Urban Trust Bank invites consumers to enjoy the best money market rates through their Urban Select Money Market program. This money in the bank deal gives 1.35% APY for balances of $2,500 to $9,999; 1.45% APY for $10K to $49,999; and 1.55% APY for funds above $50,000.
You can open an account for a minimum deposit of $1,000. Your balance must be at least $5,000 to avoid a monthly fee of $20. Like other money market deals today, the number of withdrawals and transfers are limited to six per month. You will be charged $5 for every transaction beyond the free monthly transactions.
Interested consumers must go to their local branch to open account. The bank cannot accept mailed applications. They still do not have an online application.
Urban Trust Bank is a community oriented financial institution. It was founded in 1963. The bank took over 7 branches of Suntrust Bank last May. The bank has several branches in Central, Western, and Jacksonville Florida. They also operate offices in Maryland and Washington D.C.
The bank is insured with the FDIC.
