Looking For Money Markets? Watch the Intro Rate
Moneywise on June 17th, 2008
Taking a look at current money market accounts, it seems as if EverBank is offering the highest interest rate with 4%, but this is where people get tripped up. EverBank’s offer is 4% on its MMAs for the introductory period, but then only 2% on accounts below $10,000 after that. Looking for the best money market rates it seems as if the IndyMac at 3.85% is the best for accounts over $10,000, with Corus Bank offering a 3.82% rate for the $10,000 deposit as well. There is a savings account available at OneUnited Bank for 3.6% with a minimum deposit of $1,000 and the HSBC that we discussed yesterday that is 3.5% with no minimum.
