Here at Bank Rate Info we aim to be constantly updated with the Bank of America savings rates (one of America’s top leading banks). Here in this post, we will be focusing on the updates in the Bank of America Money Market Rates.
As we all know, the Bank of America constantly thrives to beat its competitors in Annual Percentage Yields however to prove how successful they have been, one can only do this by comparing their rates. There is a new Money Market Savings account in Bank of America known as the ‘Growth Money Market Savings’ promising a better outreach to all their previous customers based in the ordinary Money Market Savings account.
The Growth Money Market Savings account promises no monthly maintenance fee when linked to a Bank of America Advantage with Tiered Interest Checking or Preferred™ with Tiered Interest Checking or as an alternative, to maintain a minimum daily balance of at least $5,000 in your account. If not, the monthly maintenance fee is at $10.
The Annual Percentage Yield standard rates are as follows: With a balance from $0-$9,999 the rate is at 0.15%, from $10,000 to $24,999 the rate is at 0.35%, from $25,000-$49,999 it is at 0.45%, from $50,000-$499,999 it is at 0.50%, from $500,000 to $2,499,999 the rate is at 0.70%. All are for standard rates only.
The APY for standard rates with bonus are as follows: With a balance from $0-$9,999 the rate is at 0.40%, from $10,000 to $24,999 the rate is at 0.60%, from $25,000-$49,999 it is at 0.70%, from $50,000-$499,999 it is at 0.75%, from $500,000 to $2,499,999 the rate is at 0.95%. All are for standard rates only. Bonus interest rates can be earned in your Growth Money Market Saving account when any of the following is done: an automatic transfer of $250 or more from you Bank of American checking account is sent to your Growth Money Market Saving account, an automatic transfer of the monthly interest payment from your Bank of America CD or a direct deposit of $250 or more into your Growth Money Market Saving account.
Tags: Bank of America Interest Rates, bank of america money market rates (use twice), Bank of America savings account rates
