Capital One Money Market Account
There is a Capital One Money Market Account that suits you. Capital One serves banking customers through branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. You can choose from any of Capital One’s money market accounts – High Yield MMA, Rewards MMA, or Business MMA.
The High Yield MMA is a savings account that offers a higher-than-average rate of return on your money with no monthly fees. It has an interest rate of 1.04% with an APY of 1.05%
The Rewards MMA offers a competitive rate and No Hassle Miles on your monthly balance. It has an interest rate of 1.00% with an APY of 1.01%. If you deposit $500 or more within 30 days of the rewards enrollment date, you will receive a one-time bonus of 2,500 miles. This bonus will be applied to your rewards balance within 60 days of the minimum qualifying deposit amount posting to the account. Additionally, you will earn one mile for every $20 of average balance each month your Rewards MMA is open.
The Business MMA is a savings account that allows your business funds to work for you by paying a higher-than-average rate of return while still providing you access to your money through check-writing privileges. You can grow you business savings which has an interest rate of 1.00% with an APY of 1.01%. Business MMAs have different rules for withdrawing funds than regular checking accounts. You are allowed up to 6 transfers or withdrawals each statement cycle, 3 of which may be checks written to a third party.
All APYs are applicable to balances from $0.01 to $100,000 or more. There is no minimum balance to receive the APYs but you must deposit at least $1 to open any of these money market accounts. The daily balance method is used to calculate interest. You can access your money through free checks, ATM card (for withdrawals of $500/day only), and online transfers to and from your existing external bank accounts.
These bank rates were posted 3/12/2010 and are still current and effective 3/18/2010. For more details on any Capital One Money Market Account, please visit their website.
For additional resources about investing please view Best CD Rates March 2010 on this website.
Another resource for financial information on money markets can be found at Best Money Market Mutual Funds which is available on our sister website of moneymarketrates101.com.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name.
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Tue, 23rd Mar 2010 5:42 am
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