Discover Bank Money Market Savings Account

You can now open a Money Market Savings Account with Discover Bank in just 4 simple steps. A Money Market Savings Account is the best option for you since it has maximum liquidity at competitive rates. Discover bank has been in business since 95 years and is a part of Discover Financial Services - the most recognized financial service providers in the U.S.

You can easily maximize your savings by maintaining higher balances and earn on higher rates of return. Your accounts are FDIC insured up to the applicable limits. Following are the details of interest rates and APYs as offered on Money Market Savings Account:

- For a balance between $2,500-$4,999 you get an interest rate of 3.00% with 3.04% APY is offered.
- For a balance between $5,000-$9,999 you get an interest rate of 3.00% with 3.04% APY is offered.
- For a balance between $10,000-$24,999 you get an interest rate of 3.00% with 3.04% APY is offered.
- For a balance between $25,000-$49,999 you get an interest rate of 3.05% with 3.09% APY is offered.
- For a balance between $50,000 Plus you get an interest rate of 3.10% with 3.14% APY is offered.
* The above rates are accurate as of May 13, 2008 and are subject to change daily without notice.

An initial deposit of $2,500 is required to open a Discover Bank Money Market Account. A minimum average daily balance of $2,500 must be maintained in order to avoid fees. The interest is compounded daily and credited monthly to your account. You are allowed to make 6 pre-authorized withdrawals from your Money Market Account in a statement cycle period.

You can access your Money Market Account funds via your Discover Bank Debit Card at any ATM, Discover Bank Debit Card to pay for purchases, write checks from your account, online banking and by linking your Discover Card to your Discover Bank Money Market Account.

You may open your account online by visiting their site http://www.discoverbank.com. To clarify any queries you may call at 1-800-347-7000.