M&T Bank has launched a new high yield online account – M&T Bank eMoney Market Account
. What is it all about? When usually, in order to earn interest on your money, you need to tie your money on any account for a specific length of time, in case of M&T e-Money Market account this is not the case.
Most money market accounts that offer you come specific interest rates on your money either have set a fixed rate or their offered interest rate depends a lot on the current value of your account. None of them however usually reach 3% APY (Annual Percentage Yield).
M&T e-Money Market account offers you 3.25% APY without any monthly fees nor a requirement to keep your money there – meaning you can access your money 24/7. There are a few limitations however. You can withdraw your money 4 times a month and each withdrawal costs you $1 in penalties. This ain’t much, especially considering that while they do give you the option to get money out of your savings account if you really need it, it still is a savings account and you shouldn’t spend the money you have there. But the option itself is great, obviously.
The facts that the APY they are offering is pretty much the best out there and you can still withdraw your money at the same time are great. But there’s more – it doesn’t matter whether you have a lot of money or just a little – there’s no minimum balance requirement (or okay, if you consider $1 a balance then they do).
So if you’d like to get the most of your money market
account, why not try M&T e-Money Market account.