January 5th, 2011 | 
Author: 
These days, money market savings accounts are offering great convenience in terms of both interest and withdrawals.
Bank of America is providing the facility of savings account that has high yields provided the required minimum balance is maintained. To open a money market savings account you require an amount of $1,000. You are also required to maintain $2,500 as a daily balance which is the minimum requirement. If you are maintaining an account with Bank of America then maintaining the daily minimum balance will not be a problem.
Some of the features of money market savings are:
The interest rates are tiered. This means if your balance in the account increases, the interest also increases. Bank of America also allows for unlimited withdrawals from ATM. The balance requirement for the account is also reasonable. The facility of online banking is also available. If the required minimum balance is maintained or if you checking account is linked then monthly maintenance fees can be avoided.
If you are an account holder with the bank then you can login and get a pre-filled application on your screen and you can open the money market savings account. If you are not an account holder, then you have to furnish your details while opening an account.
Given below is the list of interest that can be expected from money market savings account. These interest rates vary periodically. You have to check the latest rates from the bank website or related websites.
Less than $ 2500 – 2.97% (as on August, 2010) $ 2500 – $ 9999 – 5.20% (as on August, 2010)
Posted in Money Market Accounts | 
Tags: Atm, Bank Of America, Convenience, Maintenance Fees, Money Market Savings, Money Savings, Savings Account, Withdrawals