Intervest National Bank Money Market Account Rates

With its headquarters in New York City and six branches in Florida, it is serving a large number of clients. Intervest National Bank is a wholly owned subsidiary of Intervest Bancshares Corporation, a publicly traded financial holding company (NASDAQ Symbol IBCA) located in New York City. This bank has incorporated the latest technological developments to deliver the highest quality services. Their website provides the facility of Internet Banking where you can manage your accounts at the convenience of your home.

You can use their Online Financial Calculators to calculate the savings rate on your deposit products. Following is a brief explanation of the interest as offered on Money Market Accounts:

Money Market Accounts:
A balance of $2,500 and over earns 3.34% interest with 3.40% APY.

I.R.A. Money Market Accounts:
A balance of $1,000 and over earns 3.34% interest with 3.40% APY.
*The above rates are effective as on May 30, 2008.

Features:- Rates may change after the account is opened.
- Fees could reduce the earnings.
- Minimum opening deposit of $1,000 is required for opening the account.
- Minimum average daily balance of $2,500 is required to avoid monthly service charges.
- Minimum average daily balance of $1,000 is required to earn interest.
- Limited Withdrawals – six per statement cycle with no more than three (3) by check, draft, or similar order to third parties.
- Unlimited Withdrawals and transfers in person, by messenger, or by mail.
- A monthly statement will be delivered showing all your deposits and checks in numeric order.
- Your funds are insured by FDIC.

For more information you may call them in New York at (212) 218-8383 or in Florida at (727) 442-2551 or fill their online contact form.