1.00%
0.50%UmbrellaBank.com has highest money market account rates on a tiered basis. Here are the current MMA rates for UmbrellaBank’s online Pot O’Gold Money Market Accounts:
| Daily Balance | Annual Percentage Yield |
|---|---|
| <$1,000 | 2.24% APY |
| $1,000-$4,999 | 2.24% APY |
| $5,000-$9,999 | 2.24% APY |
| $10,000-$24,999 | 2.41% APY |
| $25,000-$49,999 | 2.60% APY |
| $50,000+ | 2.65% APY |
There’s a $1,000 minimum balance requirement to open a new money mkt account. Interest earned from this bank account is compounded daily for the maximum benefit to the account holder and deposited into the MMA account on the 10th of every month.
Money market accounts differ from fixed rate certificate of deposit investments since the interest rate varies over time. Money market rates have been lower than CD rates in recent months however UmbrellaBank has some of the highest interest rates today. There is no guaranteed rate of return since money market account interest rates are based on current market conditions and subject to the same fluctuations that the market is prone to.
Money deposited in an Umbrella Bank money market account can be accessed in several ways:
- Standard electronic transfers (typical of any online banking account)
- Check writing
- ATM withdrawals
Service fees, penalties, and other limits of this MMA:
- Monthly service fee for accounts with less than $1,000 average daily minimum balance
- Only 6 non ATM transactions are allowed per month