Zions Bank has an Internet money market account with an annual percentage yield (APY) of 1.11%. The money market rate is currently one of best rates for a money market, compared with the average of 0.33% APY. The money market rate is current as of April 26, 2010. Details of the money market offer include:
- Minimum opening deposit if $1,000
- Must have a balance of at least $2,500 to earn promotional money market rate
- Interest is variable and can change at any time
- Fees may reduce earnings
Zions Bank also has an Internet savings account with a 1.11% APY. To earn the interest rate you must have a balance of $1,000, but the minimum opening deposit is $100. The interest rate for the online savings account is variable and can change at any time. The savings account is only available to consumers and can also be opened in the name of a trust.
Both online accounts have no monthly fees or minimum balance fees. They are also insured by the Federal Deposit Insurance Corp. (FDIC). Both the savings account and money market account can be accessed online 24 hours a day. Zions Bank is based in Salt Lake City.