Money Market Savings Accounts
If you're looking for a safe home for your money that offers competitive interest rates, the security of FDIC insurance (up to $250,000 per depositor), plus fast and easy access to your cash, a Money Market Savings account could be the answer.
Open a Money Market Savings account and enjoy:
- Convenient 24/7 account access online
- Tiered interest with higher rates for higher balances (Interest is compounded and credited to your account monthly)
- Six withdrawals per month
- Online transfer ability between your Money Market Savings account and accounts at other financial institutions with Money Movement
- Combined statements with your other Principal Bank checking and savings accounts
- A fee of $10 per transaction applies if this limit is exceeded. See Schedule of Fees for other types of fees that may apply.
The following two requirements apply to Money Market Savings accounts: $2,500 minimum initial deposit; $5,000 average balance to avoid $10 monthly fee.
Plus, you have six ways to make deposits to your Money Market Savings account:
- Electronic deposit
- ATM deposits and transfers
- U.S. mail
- Telephone transfers
- Wire transfers
- Money Movement