The Money Market Savings account requires a $5,000 minimum deposit and account holders need to maintain that balance to avoid a $25 monthly maintenance fee.
The Money Market Savings account has five interest tiers: below $50,000, $50,000 or more, $500,000 or more, $2 million or more, and $5 million or more.
The top-tier APY, paid on balances of $5 million or more, isn’t competitive with money market accounts at online banks that don't have a minimum balance requirement.
A $5 million balance is required to earn the highest rate.
A $5,000 minimum opening deposit is required.
A minimum balance of $5,000 is required to avoid a $25 monthly service fee.