Apple Bank for Savings in New York with 3.75% Money Market Account
The Apple Bank for Savings is running a special money market account that guarantees for 12-months its yield of 3.75% APY. This also grants the same rate for savings account as part of the Advantage banking program.
The Advantage banking special requires a Grand Yield Advantage Now Checking account with a minimum of 6 client transactions every statement cycle. If this condition is not met the rate will be permanently reduced to lower tiered Standard Advantage scheme at 1.25% APY.
The promo APY of 3.75% is applicable for balances through $200K. It also requires $10000 opening balance to avoid a monthly fee of $25. The Grand Yield Advantage needs a maintaining balance of $2500 to avoid the monthly fee.
Customer service representatives of the bank do not have the information up to when this money market account special will run. It will be best to call the bank to confirm and check the on going rates which are usually updated every Tuesday.
It appears that a branch visit is needed to open an account. According to bank officials, they do not do a hard credit pull but just utilizes the ChexSystem verification.
The Apple Bank for Savings has branches in Manhattan, Staten Island, Nassau, Suffolk, Westchester, Queens, Brookllyn, and Bronx in New York.
The bank enjoys good reviews from BauerFinancial and bankrate.com which gave 4 and 5-star ratings, respectively.
The Apple Bank for Savings is FDIC insured since 1943 with certificate # 16068.
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