RateAPY

Geddes Federal Savings and Loan Money Market at 1.000% APY

Posted by: RateAPY Bank Rates News
March 25th, 2010

Money market accounts offer consumers a hybrid of a savings account and a checking account. While the funds in your money market account earn interest like a savings account, the cash is also accessible if you need it to pay a bill or take care of an emergency.

Money market accounts are limited to penalty-free withdrawals per statement cycle and are FDIC-insured, so accountholders can be certain their principal is secure. Comparing money market rates online can be the best way to find an account with the best interest rate and the lowest bank fees.

Geddes Federal Savings and Loan Association, based in Syracuse, New York, is currently offering a Money Market Deposit Account with an interest rate and APY of 1.000% for amounts from $1,000 to $49,999. Accounts with $50,000 or more earn 1.990% interest and an APY of 2.000%. The minimum deposit required for this account is $1,000.