Multiple readers let us know about an email they received from Northern Bank increasing their money market rate to 2.50% APY through June 30, 2019.
Money Market average daily balances from $.01 to $250,000.00 earn the advertised 2.47% interest rate with an Annual Percentage Yield (APY) of 2.50%….
Your interest rate and APY are accurate as of January 28, 2019 and guaranteed through June 30, 2019. After June 30, 2019 your interest rate and APY may change as this is a variable rate account. At our discretion we may change the interest rate on your account daily. The interest rate will be determined by us based on current market conditions. Please call 1-800-273-6908 for current rate information.
2.50% APY is just about the best rate you can get at the moment. Rate is only locked in through June, and it’s likely rate will then go down. Certainly a good reason to leave your money there, but you’ll have to decide if it’s worth the trouble of moving it back and forth for this.
Again, this offer is only for existing Northern Bank money market customers – I believe for all of them – but it’s not something you can signup for now.