Money Market Investments at Waldo State Bank

Money Market Investments

  • A minimum deposit of $2500.00 is required to open a personal Money Market Investment account.
  • You must maintain a $2500.00 balance in the account each day to avoid a monthly maintenance fee of $5.00.
  • You may make no more than six (6) pre-authorized withdrawals or telephone transfers per month. Withdrawals may be payments by check, draft, or similar order to third parties.
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited at statement time or date the account is closed.
  • Interest begins to accrue on the business day you deposit noncash items (checks, for example).
  • This is a tiered account and the interest rate may vary depending upon the balances maintained. The tiers on the account is as follows:
    • $0.01 - $2,500.99
    • $2,501.00 - $10,000.99
    • $10,001.00 - $25,000.99
    • $25,001.00 - $50,000.99
    • $50,001.00 - $100,000.99
    • $100,001.00 - $200,000.99
    • $200,001.00 - Over
  • Your interest rate and annual percentage yield (APY) may change. At our discretion, we may change the interest rate on your account at any time.
  • Contact Waldo State Bank for current rates.

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