What is a money market account?
A money market account is an interest-bearing account that you can open at KeySavings Bank. They are very similar to savings accounts, but they offer some checking account features as well. Note that money market accounts are different from money market mutual funds, which are not deposit accounts.
Money market accounts pay competitive rates and are a safe place to save your money. You may want to open a money market account if you want a predictable yield and a federally insured account.
Money market accounts support more ways to withdraw money than traditional or high-yield savings accounts.
|Name of Selection||Type of Account||Interest Earning||Annual Percentage Yield||Minimum Balance to earn APY/open|
|Personal-Insured Investment-||Money Market||.05||.05||$0/$1000|
|Personal Insured Investment||Money Market||.10||.10||$10,000/$1,000|
|Personal-Platinum Tier 1||Money Market||.10||.10||$10,000-$49,999|
|Personal-Platinum Tier 2||Money Market||.20||.10-.15||$50,000-$99,999|
|Personal-Platinum Tier 3||Money Market||.30||.15-.20||$100,000-$149,999|
|Personal-Platinum Tier 4||Money Market||.35||.20-.35||$150,000 and more|
|DISCLOSURE||At our discretion, KeySavings Bank may change interest rates on all interest earnings accounts. Fees may reduce the earnings on all interest earning accounts.|
|DISCLOSURE||Platinum tiered account interest rates are for each tier. If you have money in Tier 4, the interest rate on money in Tier 1 receives interest rate pricing at the Tier 1 level, Tier 2 receives interest rate pricing at Tier 2 level, etc.|
Please talk to one of our Personal Bankers to learn how to use a money market in addition to a savings account.