Financial experts recommend keeping three to six months of expenses in an easily accessible emergency savings fund. A money market account can be the perfect vehicle for an emergency savings account, since the funds can be withdrawn six times per month without penalty. Most money market accounts allow accountholders to transfer funds online and to write a check, many also provide ATM access.
The Dime Savings Bank offers a variety of deposit accounts, all fully FDIC insured. Dime customers with a Prime Dime or Rewards Checking Account are automatically eligible for a Prime Rewards Money Market Account. Customers can choose between a Statement account or a Passbook account. Both accounts require a $250,000 average daily balance to avoid a monthly maintenance fee. Passbook account rates are slightly higher.
The Dime Savings Bank Prime Rewards Money Market Account interest rates as of 2/16/11:
Balance / APY
Less than $1,000 / 0.25 percent
$1,000 to $24,999 / 0.50 percent
$25,000 to $49,999 / 1.01 percent
$50,000 to $74,999 / 1.15 percent
$75,000 and over / 1.25 percent
Compare money market account rates and terms online to find an account that meets your financial needs.
Links:
https://www.dime.com/Site/PersonalBankingMoneyMarketAccount.aspx
http://www.savingsaccounts.com/bank-review/the-dime-savings-bank-online-banking
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