Available for residents of Massachusetts, Mutual Bank is currently offering 2.44% APY when you open a Leader Money Market account. Continue reading below to learn everything you need to know about Mutual Bank.
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About Mutual Bank Money Market
Mutual Bank was established in 1888 and has grown throughout the Massachusetts. There are now locations throughout Southeastern Massachusetts, stretching from Brockton to Plymouth. The Bank was established as a mutual institution, owned by its depositors, not by shareholders. Fast forward more than a century, and the Bank is still a mutual institution, and proudly holds a Massachusetts cooperative bank charter.
Being an online account, they can offer one of the highest rates! The account gives you access to online banking, eStatements, mobile banking, text alerts, and so much more.
I’ll review Mutual Bank Money Market bonus below.
Mutual Bank Bank Money Market 2.50% Rate
- Account Type: Leader Money Market Account
- Interest Rate: 2.44% APY
- Minimum Balance: $0.01
- Maximum Balance: $250,000
- Availability: MA (Bank Locator)
- Credit Inquiry: Unknown, Let us know
- Opening Deposit: $1,000 minimum
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: $10, can be waived if you maintain an account balance of $1,000
- Early Termination Fee: $15, if closed within 90 days of opening account
American Express Personal Savings Account - You earn 1.70% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 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 Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express Personal Savings 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 UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses.
|Discover Bank Online Savings||1.60% APY + $200 Cash||Review|
|CIT Bank Savings Builder||1.75% APY + $100/$200 Bonus||Review|
|UFB Direct High Yield Savings||1.90% APY||Review|
|Betterment EverydayTM Cash Reserve||1.83% APY||Review|
|American Express High Yield Savings||1.70% APY||Review|
Mutual Bank ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Earn 2.44% APYRate
- Open a Leader Money Market account from Mutual Bank with an opening deposit of $1,000.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
|Balance Requirement||APY Rate|
|$0 to $250,000||2.44% APY|
Why You Should Sign Up For This Account
- All funds are have a high liquidity
- Easily waive the $10 fee by maintaining the daily balance with your opening deposit
- Free online banking to efficiently make transfers and payments
- FDIC and SIF insures your funds so you can have peace of mind
Check out this offer from Mutual Bank. When you open a Leader Money Market account you can earn a 2.44% APY! This rate is great for balances between $0 and $250,000. The opening deposit automatically waives the monthly fee, leaving you less to worry about. Take advantage of the services they have to offer along with these savings.
It takes just minutes online, so open an account today! Let us know about your experience with this bank and comment below. For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Mutual Bank Money Market Account.