Availability: Market area is Texas
Last week, BTH Bank raised the rate on its Worry-Free Money Market account (1.11% APY on balances of $500K+). In the past two years, there have been 12 rate changes for the Worry-Free Money Market account, ranging from a low of 0.75% APY in November 2013 to the current high APY of 1.11%.
APY MIN MAX INSTITUTION PRODUCT DETAILS 1.11*% $500k - BTH Bank Worry-Free Money Market AccountAccounts mentioned in this post. Rates as of December 10, 2015
The minimum opening deposit is $10K and the $12 monthly service charge can be waived by maintain a minimum $10K balance.
The tiered APYs on the Worry-Free Money Market are as follows:
The fine print on the Money Market page states,
Rates on balances $100,000 and up may change, and are indexed to a one-year U.S. Treasury rate.Rates on balance below $100,000 may change at our discretion.
Kasasa Cash
BTH Bank's Kasasa Cash account earn 2.25% APY on qualifying balances up to $7K; qualifying balances above $7K earn 0.05% APY, with non-qualifying balances earning 0.01% APY.
APY MIN MAX INSTITUTION PRODUCT DETAILS 2.25*% - $7k BTH Bank Kasasa CashAccounts mentioned in this post. Rates as of December 10, 2015
Monthly Qualifications
The minimum opening deposit is $50, with no monthly service charge or minimum balance to earn rewards. Nationwide ATM fees will refunded up to $25 per month, up to $5 per transaction.
AvailabilityHeadquartered in Quitman, Texas, BTH Bank's market area includes all of Texas, and the Bank offers its services and product line to all Texas residents via the internet who are U.S. citizens, 18 years or older.
Minors, resident aliens and non-resident aliens may apply by contacting BTH Bank directly.
Opening a Worry-Free Money Market account can be done online, or at any of ten Texas branches located in Carthage, Dallas, Hawkins, Kilgore, Lindale, Longview, Mineola, Quitman, Tyler, and Winnsboro.
Bank OverviewBTH Bank (FDIC Certificate #3402) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 0.40% (excellent) based on September 30, 2015 data. In the past year, BTH Bank has increased its total deposits by $200.99 Million, an excellent annual growth rate of 38.38% APY. Please refer to our financial overview of BTH Bank for more details.
BTH Bank is one of the few community banks in East Texas today, and has a history that stretches back more than 100 years. In 1905, W. M. Lloyd established a small, private bank in Quitman, which subsequently received a state charter in 1908, resulting in the First State Bank. A national charter was granted in 1914 and the First National Bank of Quitman took the stage. Almost 100 years later, the Bank had become Bank Texas and,
In 2006, seven members of the bank's board of directors raised approximately $13 million from local investors to form BT Holdings, which purchased BankTexas from its then non-local owners. The transaction allowed BTH Bank to once again become a locally-owned financial institution.
How the Worry-Free Money Market Account ComparesWhen compared to the 406 Jumbo Money Market Accounts tracked by DepositAccounts.com that are available to Texas residents, BTH Bank's Worry-Free Money Market APY ranks third, regardless of minimum deposit.
Interest Rate Account Name Credit Union/Bank 1.25% APY Optimizer Money Market ($5K min/no max, through 4/30/16) McGraw-Hill Federal Credit Union 1.20% APY ClearChoice Money Market ($250K min/$1M max) BBVA Compass 1.11% APY Worry-Free Money Market ($500K min/$1M max) BTH BankThe above rates are accurate as of 12/9/2015.
To look for the best nationwide MMA rates and the best MMA rates in your state, please refer to our Money Market Accounts rates table.
To look for the best nationwide Rewards Checking account rates and the best Rewards Checking account rates in your state, please refer to our High Yield Reward Checking Accounts rates table.
Source: BTH Bank (Texas) Raises Worry-Free Money Market Rate
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