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Money Market Accounts | HomeStreet Bank

Money Market Special

Get a 1.40% APY Money Market

A smarter way to save.

Access your money while watching it grow with a special HomeStreet Bank money market account. 


(APY = Annual Percentage Yield)

What is a Money Market Account?

A money market account is another way to save a large sum of money so that it draws interest until you withdraw it. Sometimes considered a different type of savings account, money market accounts are popular because they usually offer a higher interest rate than a traditional savings account.

They’re often used to tuck away funds for large expenses such as: 

Because of the higher interest rate, these large sums of money yield a greater return until those funds are withdrawn.


Is a Money Market Account right for you?

Maybe, if you’re looking for a reasonably safe account in which to save a large sum of money. Think of a money market account as a combination of savings account and checking account, but with a few special rules.

They’re also popular because unlike investing in securities, putting your money in a money market account keeps it safe; they’re insured up to the maximum allowed by law, by either the FDIC (at a bank) or the National Credit Union Administration (at a credit union).

However, because of their limitations, they’re not generally considered a replacement for a standard checking account or savings account. And if the minimums required don’t suit your needs, you might consider looking for an alternative.


Shop around for a Money Market Account

Do your research and consider your options carefully. When you’re shopping around for a new way to save or you’re opening a new checking account, banks will often offer a money market account as well as a savings account.

Depending on the bank or credit union, you’ll see different:

Each bank sets its own interest rates, which can be compounded daily or monthly rate, and paid weekly or quarterly. Make sure you understand what rate of return you can actually expect.

You’ll also probably want to open your account at an institution with excellent customer service and that’s willing to work with you to help you open an account that’s right for you.

Also, make sure you don’t confuse a money market account with a money market fund.



A HomeStreet Bank Money Market Account

There are many ways to save. With HomeStreet Bank’s Money Market Account, you can invest more to earn more.

You can also:

We also offer tiered interest rates for higher balances.* 

Visit one of our local branches or give us a call for Money Market Account specials, and let us help you find the rate that’s right for you.

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Stop by your local branch

or give us a call to learn more.

Disclosures:

*Annual Percentage Yield (APY) as of 05/21/2018 is; $0.00-$9,999, 1.15% APY; $10,000-$49,999, 1.25% APY; $50,000-$99,999, 1.35% APY; $100,000-$149,999, 1.40% APY; $150,000-$249,999, 1.40% APY; $250,000-$499,999, 1.40% APY; $500,000 or greater, 1.40% APY. Interest rates and the annual percentage yields (APYs) are subject to change at any time without notice. Rates are tiered based on account balance and may vary. Fees may reduce earnings. See Schedule of Fees. Consumer accounts only. The minimum balance required to open the account is $1,000. Offer subject to change without notice, may be withdrawn at any time and cannot be combined with any other offer.

** Limit on Transfers and Withdrawals: Transfers and/or withdrawals from your money market or savings account conducted in person in the branch or at the ATM are unlimited. All other transfers are limited by federal regulations to six (6) during a calendar month. Other transfers include checks, draft or point of sale (POS) payable to third parties, pre-authorized transfers, automatic transfers, transfers to an overdrawn checking account, telephone transfers requested through the branch or Customer Service Center, Telephone Banking transfers, automatic payments (excluding HomeStreet loan/mortgage payments), Online Banking transfers and bill payments, and internet generated transactions. If the limited transfers are exceeded, we may close your account or convert it to an eligible account type.

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