The Relationship Savings account helps customers with balances of more than $1 earn interest. But the yield, even for the highest tier of $100,000 or more, is below the national average savings account APY.
There are a few ways to waive the $7.50 monthly service fee on the Relationship Savings account. You can keep a minimum daily balance of $500 in the account, you can make one deposit into your Relationship Savings account per service charge cycle or you can have an M&T checking account.
The Relationship Savings account yields below the national average for savings accounts.
Putting more money in the account won’t help you earn a higher APY since there is only one ($1-$100,000 or more) tier.
The Relationship Savings account has a $7.50 monthly maintenance fee if you don’t meet the requirements to have it waived.