When it comes to bank accounts, there’s more to look at than simply checking or savings. Considering the interest yield is important, especially if you’re going to deposit a large sum of money. If you’re looking for an account where the interest rate increases as your balance does, then Portage Bank’s New Frontiers Money Market Savings Account may be the solution you’re after.
What Is A Money Market Savings Account?
New Frontiers Money Market Savings Accounts (MMSA’s) are savings accounts that yield a higher return. Deposits at Portage Bank are insured by the Federal Deposit Insurance Corporation (FDIC), so your money is protected. MMSA’s make it easier to retrieve your money than a typical savings account, making them popular for people with liquid assets.
The primary benefit of these Money Market Accounts is that they yield more because they typically come with a higher interest rate than regular savings accounts. This makes them desirable for those looking to grow their capital rather effortlessly.
When you deposit your money somewhere, you want to make sure it’s secure, accessible, and working for you. Frontiers Money Market Deposit Accounts at Portage Bank offer the most for what you need. You can earn .15% APY (Annual Percentage Yield) with a minimum opening balance of $2,500. With a minimum balance of $10,000, you can earn 1.26% APY without sacrificing liquidity!**
The Portage Difference
Enrolling in a Money Market Savings Account at Portage affords you benefits superior to the average financial institution. Portage prides itself on being a technologically-focused Bank, in order to make the customer experience easier, faster, and more secure. While adapting to the new needs of a digital customer, we have doubled down on convenience and accessibility for our customers through advanced online banking.
For over 120 years, Portage has been proudly serving the local community. Portage was founded on personal service and customer care, and we live by those principles today. If you’re interested in opening a Frontiers Money Market Deposit Account through Portage, reach out to one of our representatives here.
*contact a branch representative to find out the amount of insurance available for your specific account.
**APYs are accurate as of 08/01/2022. Rates are variable and may change after the date this article was published, and after account opening. Fees may reduce your earnings.
$0.01 to %9,999.99 Interest Rate 0.15%; APY 0.15%
$10,000.00 + Interest Rate 1.05%; APY 1.26%
Portage Bank is Member FDIC