Available for U.S. Residents everywhere, Dime Community Bank is currently offering their DimeDirect Money Market Account at an astounding 1.35% APY Rate. All you have to do is scroll through our Savings Rate table below and look for Dime’s MMA. Proceed by clicking “Start Saving” and you’ll be redirected to the application page. After that, all you have to do is accomplish the minimum opening deposit value of $1,000.
Note that the APY on balances up to $500,000 is 1.35%. For balances over $500,000, the APY is 0.20%. Convenience in a savings account this day and age is a must, which is why Dime makes it a necessity for the account to possess no monthly fees, free online and mobile banking and up to 6 withdrawals per statement cycle.
DimeDirect Money Market Account Summary:
- Apply Now (See Table Above)
- Account Type: Money Market Account
- Rate: 1.35%
- Availability: Nationwide
- Expiration Date: None
- Soft/Hard Pull: Hard Pull
- Direct Deposit Requirement: None
- Additional Requirements: $1,000 minimum balance to open
- Monthly Fee: None
- Early Termination Fee: None
DimeDirect MMA Breakdown |
|
Advantages |
Disadvantages |
1.35% APY Rate | Branches are centralized in New York |
No monthly fees | Balances exceeding $500,000 earns 0.20% APY |
$1,000 minimum opening | |
Free online and mobile banking | |
Up to 6 transactions per month |
DimeDirect Money Market Account Rates:
Money Market Rates | Annual Percentage Yield (APY) |
$0-$500,000 | 1.35% |
$500,000+ | 0.20% |
DimeDirect Money Market Account Features:
- Available nationwide
- $1,000 minimum balance to open
- Up to six withdrawals per monthly statement cycle without any penalties or fees
- No monthly fees
- Free online and mobile banking
- Deposit your checks by mobile phone
- FDIC-Insured
Opening A Money Market Account
In order to open a DimeDirect Money Market account (See Table Above), all you need is:
- Social Security number
- Driver's License
- Home address
This could be done online or in-person, with most of the branches being centralized in the New York area. Making a deposit is part of the process of opening your new account. You will need the account information found on your checks. You may also edit your information at the Review Your Information step as part of this process.
- Complete Your Information
- Accept Disclosures
- Fund Your Account
Author's Verdict:
A Money Market account is a great way to receive more interest with less risk. Whether you're trying to balance out an investment portfolio or just trying to grow your hard-earned money, a Money Market account is a good liquid option between a traditional Savings account and a certificate of deposit. With a DimeDirect Money Market Account (See Table Above), you'll be able to take advantage of 1.35% APY for balances up to $500,000. Note that anything after that will accrued 0.20% APY. Minimum opening deposit value is set to $1,000. Fees can accrued if you exceed the set withdrawals per statement cycle. Find all the Best savings rates from our exclusive list nationwide!