THE NEW MONEY MARKET CHANGING THE GAME BY CHANGING WITH PRIME
- Basic Savings
- Christmas Club
- Health Savings Account
- FirstRate Money Market
- Money Market Tiered
- UTMA-Minor Savings
FIRSTRATE MONEY MARKET
Combine a great everyday account with a new day in savings.
We’re introducing a better money market that moves when Prime does to give you the best interest rates available. For those customers meeting FirstRewards checking requirements, you’ll receive a higher rate. Open the FirstRate Money Market today and save yourself time and worry while you gain the kind of advantages found in FirstBank’s new savings product.
- A great companion account to your new or existing FirstRewards Checking account
- Meet FirstRewards requirements to earn a higher interest rate on balances up to $250,000
- Rate moves with Wall Street Journal Prime Rate
- Offers tiered interest rates
- Free online banking
- Free online statements
- Easily access up to 6 free withdrawals monthly (withdrawals exceeding 6 per month result in a $2 fee per withdrawal. Going over withdrawals more than 3 times in a 12-month rolling period may result in account conversion to a more suitable account.)
No monthly service charge if $5,000 minimum balance is maintained (if not, $10 fee)
Tier 1: Daily balance $0 to $250,000 – 1.31% APY
Tier 2: Daily balance greater than $250,000 – 0.50% APY
A base rate of 0.25% APY is applied to all balances when qualifications are not met.
Effective 03.23.2018: To open the account you must make a minimum deposit at least $5000.00. A minimum balance of $5000.00 is required per statement cycle to avoid being charged a $10.00 monthly service charge. During any calendar month you may not make more than six (6) withdrawals or transfers. Exceeding the six (6) withdrawals or transfers limitations in a statement cycle will result in a $2.00 charge per transaction over six (6). Your account will be subject to closure or conversion to a more suitable account if the transfer or withdrawal limit is exceed more than three (3) times in a rolling 12 month period. To earn the “FirstRate Money Market” rates of .25% Annual Percentage Yield (APY), you must meet the following requirements: Receive your FirstRewards Checking account statement electronically monthly (eStatements). To qualify for FirstRate Money Market Reward rate, you must meet the following requirements in your FirstReward Checking account: The primary account holder must be the same on the FirstRewards Checking account and the FirstRate Money Market savings account. 10 settled debit card point of sale transactions per Qualification period. Automated Teller Machines (ATM) transactions do not count towards the required 10 settled transactions. Receive your FirstRewards Checking account statement electronically monthly (eStatements). One (1) monthly automated clearing house (ACH) debit or ACH credit. Closure of the FirstRewards Checking account will result in forfeiture of the reward interest rate on the FirstRate Money Market account and all FirstRate Money Market account balances will earn .25% (APY). A rate of 1.31% APY will be earned in the FirstRate Money Market savings account on balances up to $250,000. The portion of account balances above $250,000.00 will earn an interest rate of .50% with a .50% APY. The tiered interest rate may increase or decrease a minimum of 0.10% APY with each 0.25% change in the Wall Street Journal Prime Rate. The rate will be updated within 24 hours of a change in the printed Wall Street Journal Prime Rate and will be effective the next business day. Rates are subject to change. APY is accurate as of 03/23/18. Fees may reduce earnings.
FirstRewards Checking not only rewards you every month with our higher interest rate, we also reward you with no opening deposit required or minimum balance to build interest. Add no monthly service charge and refunded out-of-network ATM fees and that makes our checking a first!