Treasury Bill Indexed Money Market
$10,000 to open
Earn a tiered, indexed variable APY* on balances of $25,000 and up
Rate resets each month and is indexed to rate of closing "asked" discount basis of the 30-day T-Bill as quoted and published in The Wall Street Journal**
FDIC Insured money market account
A highly competitive money market option from your go-to New York bank.
If you're seeking a savings account with a highly competitive rate, the Treasury Bill Indexed Money Market account may be the solution. With an investment of $25,000 or more, you can earn a tiered indexed variable Annual Percentage Yield (APY). This account is fully liquid, so you can access your money whenever you need it.
*Based upon current market conditions related to the COVID-19 pandemic, the Bank has not applied the index (as stated below) to the Treasury Bill Indexed Money Market account for the month of August 2020. Instead, the Bank has set the Annual Percentage Yield (APY) for all applicable balance tiers at 0.25%. Minimum balance to earn the advertised 0.25% APY for August 2020 is $25,000. All other terms and conditions stated apply. **Treasury Bill Indexed Money Market rate is based on an index calculated by taking the rate of the closing “asked” discount basis of the 30-day Treasury Bill as quoted and published in The Wall Street Journal on the last business day of the prior month as set forth below. If there are no exact Treasury Bills with a 30-day maturity, then the “asked” rate used shall be for Treasury Bills with a maturity date closest to, but not to exceed 30 days. These new APYs will then take effect on the first calendar day of each subsequent month and will remain in effect through each subsequent month-end. Balances of $25,000 to $49,999 earn an APY which is 65% of the indexed rate, balances of $50,000 to $99,999 earn an APY which is 90% of the indexed rate, and balances of $100,000 or more earn an APY which is 100% of the indexed rate. There is no interest paid on deposits under $25,000. $10,000 minimum deposit is required to open this account. A monthly service fee of $10.00 will be charged each month at the end of the statement cycle if the account balance falls below $10,000 on any day of the month. Fees may reduce earnings and principal if the account balance falls below $10,000 on any day during the statement cycle. Please see account disclosure for other terms and conditions. This offer may be withdrawn without prior notice.
Please refer to the account disclosure for additional terms and conditions.
- Deposit Rates
- Switch Kit
- FDIC Information