Best Bank Rates

EverBank.com has high interest rates for their money market business accounts. This is a great way to accumulate interest on business funds. Here is some important information about Everbank business money mkt accts.

First there is a minimum of $1500 required to open a new business money market account with EverBank.
Second there can be a monthy fee of $14.95 assed if the average balance during the month is less than $5000. This could potentially negate any interest gained. For example the current money market rates for balances less than $10,000 is only 1.01% APR, 1.02% APY so the monthly interest earned on 5000 dollars at this rate would only be about $4.25 netting a $10.70 loss per month.
Third there is a limit of 6 transfers and/or withdrawals per month, and only 3 can be checks.

Here are a couple of their business money market account rates:

• $100,000 – $249,999 account balance: 1.40% APR, 1.41% APY
• $50,000 – $99,999 account balance: 1.15% APR, 1.16% APY

capital one has high yield money market account rates at 1.60% APY (the national average advertised by capital one is 0.71% APY). this investment account is FDIC insured and only takes one dollar to open. there are no monthly minimums and subsequently no monthly maintenance fees. money invested in this capitalone.com money market account can be accessed via electric online transfers to an external account, checks (free), and through the provided capital one ATM card.

these money market rates are good for those with less than 10,000 dollars in the bank. investments that are greater than $10000 will gain more interest money in capitalone.com’s online savings account. their high yield savings account rate is 2.27% APY for balances over 10000 but it is only 1.20% APY if the average daily balance is less than ten thousand dollars.