bank rates

Guaranteed Rate With Philly Money Market

hands scooping up coinsPennsylvania savers can lock in a competitive money market account yield with no balance cap limiting earnings.

Why do we say you can lock it in? Well, the rate is guaranteed for the next seven months.

Valley Green Bank pays 1.05% APY in a special deal now available at the Philadelphia-based bank.

While EverBank’s ( Yield Pledge Money Market pays a slightly higher 1.10% APY, that rate only applies to balances up to $50,000. EverBank’s rate is guaranteed for six months.

If you want to open a money market account at Valley Green Bank, you’ll need to make a minimum deposit of $5,000, and you’ll need to keep that much money in your account to earn interest. But as long as you have the minimum on deposit, you’ll earn the top rate, no matter if your balance is $5,001 or $500,000.

That rate is good through Sept. 15. The bank hasn’t said what the new rate will be after that time.

In comparison, you only need to make a $1,500 minimum deposit to open an EverBank Yield Pledge Money Market, but you don’t need to maintain that high of a balance to earn 1.10% APY.

However, that rate applies to balances up to $50,000. Any portion of your balance greater than that amount earns 0.61% APY from the Jacksonville, Fla.-based bank.

If you want to open a money market at Valley Green Bank, you’ll need to stop by one of its three Philadelphia branches.

For more information, visit or call 888-676-2265.

Compare Valley Green Bank’s offer with the top money market accounts in our database.

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