Online Bank Reviews Best Banks 2011 » AIG Bank Money Market http://banktruth.org Best Banks Bank Reviews Best Rates Sat, 04 Feb 2012 11:00:09 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 High-Yield Money Market Accounts at AIG http://banktruth.org/best-money-market-rates/high-yield-money-market-accounts-at-aig/ http://banktruth.org/best-money-market-rates/high-yield-money-market-accounts-at-aig/#comments Thu, 06 May 2010 04:43:03 +0000 AccountReviewer http://banktruth.org/?p=966 Signature Money Market Accounts at AIG offer competitive rates as well as great APY. Once again, the principle of, the more you save, the more you earn, applies. The minimum deposit for one of these accounts is $2,500. At this point, you will earn 0.50% both as an interest rate and APY. After passing the $10,000 threshhold, the APY and interest increases to about 1.00% . This is the largest increase in rate. For anything more than $250,000, you will earn 1.09% APY. There is a full table of each level, interest rate, and APY on their site. AIG also provides calculators to help you predict your earnings and give you » Read more
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]]> Signature Money Market Accounts at AIG offer competitive rates as well as great APY. Once again, the principle of, the more you save, the more you earn, applies. The minimum deposit for one of these accounts is $2,500. At this point, you will earn 0.50% both as an interest rate and APY. After passing the $10,000 threshhold, the APY and interest increases to about 1.00% . This is the largest increase in rate. For anything more than $250,000, you will earn 1.09% APY. There is a full table of each level, interest rate, and APY on their site. AIG also provides calculators to help you predict your earnings and give you a guide to what you should be doing financially.

Just like any other account, there are transactions fees if a limit is exceeded. This magic number is six per month. There are federal regulation limits, which is why, the number is always six!  Transactions include:

  • Transfer to third parties using automatic transfer
  • Phone orders
  • Checks

To see a full list of what “transactions” involve, visit AIG’s FAQ site.

Fees can also be accumulated by not meeting the minimum deposit,$2,500 at the end of each month. This will result in a $10.00 fee. If that amount continues to drop, bel0w $1,000, no interest will be earned.

Somethings else to keep in mind is that the Signature Money Market Accounts compound interest monthly, not daily, like the CDs that AIG also offers.

AIG is FDIC insured


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