Money Market Accounts
Earn Higher Interest With a Money Market Account
When you want to earn a higher rate of interest but you need to have your funds accessible to you, consider a BankGloucester Money Market Account. BankGloucester currently offers three types of Money Market Accounts
Premier PLUS Money Market Account
Our Premier Plus Money Market Account offers competitive rates. Because these rates are variable, they are subject to change without prior notice.
- Minimum opening balance of $10,000.00
- No monthly service charge fee
- Market interest rates with rate tiers of $0.01 - $9,999.99, $10,000.00 - $49,999.99, $50,000.00 - $99,999.99, and $100,000.00 and above
- Combined statement
- FREE - ATM transactions at BankGloucester ATM's
- 24/7 access to your account with FREE - Online banking & Telephone banking
- FREE - Direct Deposit and ACH Debits (combined statement)
- Check writing feature
- Unlimited over-the-counter withdrawals and transfers
The Premier Plus Money Market Account is a bundled account and requires that you have, or open, a BankGloucester checking account. Limitations exist on the number and type of withdrawals and transfers.
Premier Money Market Account
If you'd like to earn a higher interest rate, comparable to a certificate of deposit, while maintaining the total availability of your funds, and the feature of limited check writing, then our Premier Money Market Account is for you.
- Minimum opening balance of $10,000.00
- No monthly service charge fee
- Market interest rates with rate tiers of $0.01 - $9,999.99, $10,000.00 - $24,999.99, $25,000.00 - $49,999.99, and $50,000.00 and above
- Unlimited over-the-counter withdrawals and transfers
- Check writing feature
Limitations exist on the number and type of withdrawals and transfers
Personal Money Market Account
Our Personal Money Market Account offers competitive rates. Because these rates are variable, they are subject to change without notice.
- Minimum opening balance of $1,000.00
- No monthly service charge fee
- Market interest rates with rate tiers of $0.01 - $999.99, $1,000 and over
- Competitive interest rates
- Unlimited over-the-counter withdrawals and transfers
- Check writing feature
Limitations exist on the number and type of withdrawals and transfers.
Rates and Disclosures
Rates Effective: February 14, 2020
*APY:: Annual Percentage Yield
| Type | Minimum Deposit to Open Account | Minimum Balance to Earn APY* | Interest Rate | APY* | Compounding Frequency |
|---|---|---|---|---|---|
| Premier Plus Money Market | $10,000 | ||||
| Tier 7 | $1,000,000.00 and over | 1.50% | 1.51% | Daily | |
| Tier 6 | $500,000.00 - $999,999.99 | 1.00% | 1.01% | Daily | |
| Tier 5 | $250,000.00 - $499,999.99 | 0.75% | 0.75% | Daily | |
| Tier 4 | $100,000.00 -$249,999.99 | 0.35% | 0.35% | Daily | |
| Tier 3 | $50,000 - $99,999.99 | 0.35% | 0.35% | Daily | |
| Tier 2 | $10,000.00 - $49,999.99 | 0.35% | 0.35% | Daily | |
| Tier 1 | $0.01 - $9,999.99 | 0.25% | 0.25% | Daily | |
| Premier Money Market | $10,000 | ||||
| Tier 4 | $50,000.00 and over | 0.50% | 0.50% | Daily | |
| Tier 3 | $25,000.00 - $49,999.99 | 0.25% | 0.25% | Daily | |
| Tier 2 | $10,000.00 - $24999.99 | 0.25% | 0.25% | Daily | |
| Tier 1 | $0.01 - $9999.99 | 0.25% | 0.25% | Daily | |
| Personal Money Market | $1,000.00 | ||||
| Tier 2 | $1,000 and over | 0.25% | 0.25% | Daily | |
| Tier 1 | $0.01 - $999.99 | 0.10% | 0.10% | Daily | |
Rates may change after the account is opened. Fees could reduce earnings.
