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OneUnited Bank Money Market Rates

OneUnited Bank is offering a 5.30% APY FDIC insured internet only savings account with a minimum of $1000 down. This savings account can only be opened online, you can’t call and open it over the phone, I’ve tried it.

By opening this savings account, OneUnited Bank will issue you an ATM card that allows you to withdraw from ATMs at either OneUnited locations or one of their affliates. The limit on the ATM is $300 within a 24 hour period. OneUnited allows ACH transfers from one bank to another. The standard period for transfer is 3 business days, but if you need the money faster, you can get it transfered over within 1 business day using their Premium ACH transfer service. The cost on that is $10 USD per transfer.

Again, you will get compounding interest daily and it will be paid quarterly. For more information you can always visit OneUnited Bank’s website at https://www.oneunited.com.

Zions Bank 5.65% Money Market Account

Zions Bank is offering a 5.65% APY savings account through their Deseret Money Market program. By looking at the charts provided by Zions Bank website, in order to enjoy this massive 5.65% APY savings account, you must deposit one hundred thousand or more. The minimum balance in order to recieve any interest in $1000 USD. The sign up process is pretty simple and self explanatory, only tedious part is answer questions regarding your financial status for the U.S. Patriot Act. The Deseret Money Market is an online only savings money market account. Such high interested APY can only be offered because Zions Bank can save money from not renting a brick and mortar.

Deseret Money Market
Balance Interest Rate APY*
$0 – $999.99 0.00% 0.00%
$1,000 – $49,999.99 5.16% 5.30%
$50,000 – $99,999.99 5.41% 5.56%
$100,000 + 5.41% 5.56%

Aside from money market savings account, Zions Bank is also offering interest on your savings account. The minimum balance on your checking in order to earn interest is $2,500, and if you have anything more than $20,000 you can enjoy a 3% APY on your checks account.

High-Yield Checking
**Balance Interest Rate APY*
$2,500 – $19,999.99 1.00% 1.01%
$20,000 – $99,999.99 3.00% 3.05%
$100,000 + 4.30% 4.39%

There more information on the Zions Bank website about deseret money market, membership is open to anyone in the United States with internet access. And there’s no expiration on this high money market deal. Take your time and compare rates from different banks, if there’s any questions, feel free to contact us.

What are Money Market Accounts?

Over the years money market accounts have become known as one of the best places for investors to keep their money. In early 2007, more than 2.3 trillion dollars was stocked away in money market accounts. And of course, this number is only going to go up as more people learn about the power of these accounts. The funds on money markets are invested in securities of financial agencies in treasury bills, the government corporations, and banks.

Banks feel that money market accounts are a great option, and this is why they push them as opposed to CDs or basic checking or savings accounts. Here are just a few benefits that have made money market accounts so popular over the last 35 years.

Low Risk

When you invest in a money market the funds are not insured by the FDIC. But with that being said they are guaranteed because they are in safe investment funds such as t bills. The same thing holds true when investing in debt securities of the government because they have the ability to create funds if they are low.

High Liquidity

Generally speaking, money market accounts are easily converted to other funds. You can withdraw your funds anytime that you are interested in doing so. When you compare this to a certificate of deposit it is easy to see the main advantage. After all, once you are locked into a CD you cannot get the money early unless you are willing to pay a fee. You can also issue checks from money market accounts a certain amount of times each month.

Competitive Rates

When it comes to the most competitive rates, it does not get much better than a money market account. You will be hard pressed to find a checking or savings account that offers rates as high as a money market. In most cases, money market accounts will make you anywhere between 4 and 6 percent each year. While your interest is accumulated on a daily basis, you will get paid this money only once at the end of the statement period.

What are Money Market Funds?

In most cases, money markets come from funds that are made available by banks, brokerage firms, fund organizations, etc. Many people who like to trade stocks through brokerage accounts have found that money market funds are a great way to supplement their investing. This allows them to put their earnings in an account until they decide what they want to do with them. Of course, money market accounts can also be used to make money as well. This is due in large part to the high interest rates that they offer.

Make sure that you know the ins and outs of money market funds before you get started. For instance, you will make money based on the interest rate on your account. This can vary, and finding a rate anywhere from 4 to 6 percent is more than possible. Additionally, you should know that money market funds are not insured by the FDIC.

As you can see, if you are interested in avoiding high risk but still making money, a money market account is the best option. One of these accounts will offer you a much higher interest rate than a basic checking or savings. This alone makes money market accounts quite competitive when compared to other options with a low risk factor.

Money market funds are controlled in a secure manner, and are based on short term debt such as certificates of deposit, United States treasury bills, etc.

Although there is no way of saying for sure how much money you can make with a money market account, it is safe to say that you are not going to lose your funds. This low risk is reason enough for millions of people to rely on money market accounts when it comes to investing and saving their money.

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