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.
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.
Contact Waldo State Bank to find out more about our personal and business banking opportunities!