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Select Money Market Savings

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Open Account Online 

 

Maximize your savings with the Belmont Savings Bank Select Money Market Savings account. You have access to many benefits with this account, including:

  • Guaranteed Growth:  Deposits earn a high-yield rate on balances up to $250,000*
  • Confidence:  Guaranteed rates through June 30, 2019*
  • Security:  Every dollar deposited is fully insured through FDIC and DIF
  • Easy Account Opening:  No checking account required

This high-yield account is available in branch and online. Open an account online now or complete the form and a Banker will reply to you promptly.

 

 

*Annual Percentage Yield (APY) is effective as of 3/5/2019 for the Select Money Market Savings Account. Rate is guaranteed through 6/30/19, after which time it is variable and subject to change without notice. There is a minimum deposit of $25,000.00 to open account and a maximum balance of $1,000,000.00. This is a tiered account. Tier 1: for balances from $0.00 to $250,000.00, the interest rate is 2.18% and the APY is 2.20%. Tier 2: for balances from $250,000.01 to $1,000,000.00, the interest rate is 0.40% and the APY ranges from 0.85% to 2.20%. If the average daily balance in this account falls below $25,000.00, a $25 monthly service charge will apply. This account requires e-statements. Only one account per taxpayer identification number. Transaction limitations apply – withdrawals and transfers made from a money market account are limited to six per account cycle. This includes withdrawals made by check or draft to third parties; debit or ATM card point-of-sale (POS) purchases; and pre-authorized withdrawals such as automatic transfers and transfers made by telephone, online banking, mobile banking, bill pay, or wire. Withdrawals and/or transfers exceeding the six per account cycle allowance will result in a $15 excessive withdrawal fee per transaction. If limitations are continuously exceeded, it may result in conversion to a checking account. Withdrawals and transfers made in person at a branch or at an ATM are not included in the limit of six per account cycle.