Available for residents nationwide, Merchants Bank of Indiana is offering a Money Market Account with 0.75% APY.
Continue reading below to learn everything you need to know about Merchants Bank of Indiana.
Table of Contents
- 1 About Merchants Bank of Indiana Money Market Review
- 2 Merchants Bank of Indiana Money Market 0.75% Rate
- 3 Merchants Bank of Indiana ACH Capabilities and Limits
- 4 How to Earn Merchants Bank of Indiana Rates
- 5 Why You Should Sign Up For This Account
- 6 Alternative Rewards Accounts To Consider
- 7 Bottom Line
About Merchants Bank of Indiana Money Market Review
Merchants Bank of Indiana is headquartered in Carmel, Indiana and was established in 1923. Since then they have grown to 6 locations, offer money market rates that are 2X the national average, and they have an A health rating.
Offers a competitive interest rate that, along with its money market account offering, targets consumers looking to maintain liquidity.
I’ll review Merchants Bank of Indiana Money Market below.
Merchants Bank of Indiana Money Market 0.75% Rate
- Account Type: Money Market Account
- Interest Rate: 0.75% APY
- Minimum Balance: $50
- Maximum Balance: $1,000,000
- Availability: Nationwide
- Credit Inquiry: Unknown
- Opening Deposit: None
- Credit Card Funding: Unknown
- Monthly Fee: None
- Early Termination Fee: Account will close 30 days after opening if not funded
American Express® High Yield Savings Account - You earn a competitive interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Discover Bank Online Savings||$200 Bonus + 0.60% APY||Review|
|Aspiration||$150 Bonus + 1.00% APY||Review|
|Axos Business Savings||$200 Bonus + 0.20% APY||Review|
|Quontic Bank High Yield Savings||0.75% APY||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|CIT Bank Money Market||0.70% APY + Amazon Prime Offer||Review|
|American Express High Yield Savings||0.60% APY as of 4/28/22||Review|
Merchants Bank of Indiana ACH Capabilities and Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
How to Earn Merchants Bank of Indiana Rates
- Open an Premier Money Market account from Merchants Bank of Indiana.
- Maintain a balance no greater then $1,000,000 to earn the 0.75% APY rate.
- $50 minimum balance
|Balance Requirement||APY Rate|
Why You Should Sign Up For This Account
- Dividends are compounded daily and paid monthly
- Online banking services
- FDIC Insured
Alternative Rewards Accounts To Consider
Earn up to 1.25% APY with the Axos Bank Rewards Checking account while enjoying a suite of digital tools for smarter money management. This is banking, redefined.
• Use Promo Code “Lucky” for a $100 bonus!
• Up to 1.25% APY
• Zero monthly maintenance fees
• Zero overdraft or NSF fees
• Zero minimum monthly balance reqs
• Unlimited domestic ATM fee reimbursements
• Zero Minimum Balance Requirement
• Only $50 to open an account
With the Discover Checking Account:
• Cashback – Earn 1% cash back on up to $3,000 in debit card purchases each month
• No. Fees. Period. That means you won’t be charged an account fee on our Cashback Debit account.
• Early Pay – Get your paycheck up to two days early with no charge
• No credit impact - You can apply without affecting your credit score.
• Fraud Protection - You’re never responsible for unauthorized debit card purchases. If you suspect someone else has used your debit card without your permission, let us know.
• Apply in minutes - Applying for a Cashback Debit account is simple and fast.
• Fee free overdraft protection
Check out this offer from Merchants Bank of Indiana and open an Money Market Account to earn a 0.75% APY rate today! It’s easy to sign up so hurry before this offer expires!
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Merchants Bank of Indiana Money Market Account.