Zions Bank 5.65% APY money market rates
Published by fanmoney September 11th, 2007 in Money Market RatesZions Bank is offering a 5.65% APY savings account through their Deseret Money Market program. By looking at the charts provided by Zions Bank website, in order to enjoy this massive 5.65% APY savings account, you must deposit one hundred thousand or more. The minimum balance in order to recieve any interest in $1000 USD. The sign up process is pretty simple and self explanatory, only tedious part is answer questions regarding your financial status for the U.S. Patriot Act. The Deseret Money Market is an online only savings money market account. Such high interested APY can only be offered because Zions Bank can save money from not renting a brick and mortar.
Deseret Money Market
Balance Interest Rate APY*
$0 - $999.99 0.00% 0.00%
$1,000 - $49,999.99 5.16% 5.30%
$50,000 - $99,999.99 5.41% 5.56%
$100,000 + 5.41% 5.56%
Aside from money market savings account, Zions Bank is also offering interest on your savings account. The minimum balance on your checking in order to earn interest is $2,500, and if you have anything more than $20,000 you can enjoy a 3% APY on your checks account.
High-Yield Checking
**Balance Interest Rate APY*
$2,500 - $19,999.99 1.00% 1.01%
$20,000 - $99,999.99 3.00% 3.05%
$100,000 + 4.30% 4.39%
There more information on the Zions Bank website about deseret money market, membership is open to anyone in the United States with internet access. And there’s no expiration on this high money market deal. Take your time and compare rates from different banks, if there’s any questions, feel free to contact us.
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I have a check account with Zion Bank for years, I’ve never really looked into their CDs. Thank for the information!
Is this bank FDIC insured?
I have a CD at zions and getting under 4% interest. Why am I not getting 5% or more?
The Deseret MM is a good deal, from a bank with much better financial ratings than, say, Countrywide. But be SURE to get the Deseret account. Use the link in this column, or from Bankrate. Because if you go to the Zions website and then the “Money Market” page–Surprise! The Deseret is not listed! The page makes it look like their highest yielding MM is the “Internet MM Fund”. I have complained about this, to no avail. It seems kind of deceitful. No big complaints otherwise.
The question was asked by David C. on your website “Are you insured by FDIC” but you never provide the answer. If you are insured what is your institution number so that I can check with FDIC.
What is the process of withdrawing money if one needs to and how long does it take before the funds are received?