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The DimeDirect Money Market Account from Dime Savings Bank is available nationwide and currently offers a 1.35% APY.
For those of you who are new to the finance world, a money market account is simply a savings account that allows you to earn higher interest than that of a regular savings account. These accounts require a much higher minimum balance than basic savings accounts. If you are thinking about opening a money market account, Dime Savings Bank now offers its Dime Direct Money Market account nationwide.
Dime Savings Bank APY Offer: 1.35%
RELATED ARTICLES: Where to get the best interest rates? Check out best money market rates
The biggest advantage of opening one of these accounts is the annual percentage yield (APY). Accounts that have balances of up to $500,000 will earn the highest rate. That definitely should be the maximum to hold in the account since balances over $500,000 drop significantly in rate (0.20% APY).
Dime Savings Account Features
Dime Savings Bank has served New York for over 150 years.
- Open an account in just minutes
- $1,000 minimum balance to open
- Up to 6 withdrawals per month
- No monthly fees
- Free online and mobile banking
- FDIC insured
If you have questions about the logistics, Dime Savings Bank has answers to , terms and conditions as well as ways to contact a bank representative directly.
Like all good things, there are limits. In this case, the 1.35% APY is a variable rate and can change at any time. The best way to take full advantage of this account is to keep the balance under $500k. Balances that surpass the $500K limit only receive .20% APY.
In terms of Savings/Money Market accounts, HSBC Direct, CIT Bank and BBVA offer popular options. You may also want to take a look at these Savings/Money Market bonus offers, including a great one from Chase Bank.
- BBVA Compass Bank Promotions: $150, $200, $250 Checking/Savings Bonuses
- Chase Coupon Promo Codes: $200, $300, $350, $500 – September 2018
- Ally Bank Online Checking, Savings, CD, Investing Promotions
- Synchrony Bank Online Savings, CD, Money Market Promotions
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- Online HSBC Direct Savings Rate Offer: 2.01% APY (Available Nationwide)
- Popular Direct Online Savings And CD Account Promotions
- Marcus By Goldman Sachs Online Savings & CD Offers, Promotions
- Barclays Bank Promotions: Savings And CD Account Offers, Bonuses
- Salem Five Bank Checking, Savings, CD Promotions