At bankrateinfo.com, we are committed to bringing you the different products and services offered by Bank of America, along with their features and interest rates. Through this blog, we hope to offer you some information that will help you to make informed decisions about your financial future. Today, we will be reviewing the Bank of America money market rates.
Bank of America’s money market account offers tiered interest rates that will help you to earn more money. Also, you will have constant access to your funds so that you can withdraw money whenever you want without any penalty. However, this account has a monthly maintenance fee of $10 and this fee is waived if this account is linked with a checking account in Bank of America or has a daily balance of more than $5,000.
The current Bank of America money market rates are 0.15% for a balance of under $10,000 and for the same balance, you are eligible to earn a bonus rate of 0.40%, if there is an automatic transfer of a minimum of $250 from your Bank of America checking account or an automatic transfer of interest earned in your Bank of America CD or if you make a direct deposit of $250 or more. The Bank of America interest rates for balances between $10,000 to $24,999 is 0.35% APY and the bonus rate is 0.60% APY. The Bank of America savings account rates for balances between $25,000 and $49,999 are 0.45% and the bonus rate is 0.70%. The standard rates for balances between $50,000 and $499,999 is 0.50% and for balances over $500,000, the rate is 0.70%. The bonus rates for the same tiers are 0.75% and 0.95% respectively.
