Savings accounts and money market accounts are similar, but money market accounts gain slightly higher interest rates than savings accounts.  PNC Bank offers a money market account to help you gain interest on your money.

Money Market Accounts

PNC Bank offers a Premium Money Market account.  This account has a minimum opening deposit of $100.  Your money starts to gain interest with just $1.00 in the account, then earns more interest depending on how much money you can keep in the account.  This money market account comes with unlimited deposits, free telephone and online banking.  There is a monthly service charge, which can be waived if you account balance stays above $1,000.  The premium money market account at PNC Bank offers an Auto Savings plan, which automatically transfers money to help your bank account grow.

PNC does only offer one money market account.  The interest rates for this account vary depending on how much money you have in the account.  For $1.00 to $9,999 the APY is 0.10 percent, for $50,000 the APY is 0.30 percent.  The highest amount of APY you can receive is 0.35 percent for balances over $500,000.  According to the best rates chart, money market accounts from other banks offer an APY of 1.00 to 1.15 percent for having just $10,000 in the account.

How to Apply

Other banks offer better interest rates for your money, but if you decide this money market account is right for you, you can apply online.