Applied Bank has a variety of different personal accounts. There are basic savings, checking, and money market accounts. Checking accounts for people over 50 are available. There are specific savings accounts for youth and specific goals like a vacation. CDs, loans, and credit cards are available through Applied Bank.
Most Applied Bank accounts have a low opening required amount. The savings and checking account requires $100 to open. The club savings account only requires $10 to open. The money market account requires $500 to avoid a fee and earn interest. The CDs require $1,000 to open. The checking account for those over 50 does not have required amounts.
The interest rates for Applied Bank checking and savings accounts are not tiered. The savings account only requires $100 to earn the most competitive rates. The Club Savings account only requires $10 to earn competitive rates. The checking account requires $1,000.
Applied Bank offers business accounts. They offer checking accounts, loans, and lines of credit for businesses. They also offer merchant processing options in select states. Online banking is available for business accounts.
Interest rates for Applied Bank accounts are low. The rates are similar to your typical brick and mortar bank rates. Even the CDs rates are low. The most competitive interest rates are the Club and youth saving accounts. Those rates are higher than the other savings account. They are still much lower than other online-only accounts.
Applied Bank offers jumbo CDs. These CDs require at least $95,000 to open. The interest rates for the jumbo CDs are not any higher than the regular CD interest rates. The jumbo CD terms range from six-months to five-years. Those CDs are available for businesses, nonprofits, and personal deposit accounts.
Applied Bank accounts have a monthly fee if you do not keep a minimum amount in the accounts. The amounts required to avoid the fee are low. The checking and savings accounts require $100. The money market requires $500. The monthly fee is $10 per account per month if minimum balances are not met. The only fees for CDs are for withdrawing money before the maturity date.
The highest interest rates for the Applied Bank money market account requires a large sum. To earn the most competitive rate requires $25,000 in the account. Amounts over $500 earn interest, just a much lower rate. Any amount over $25,000 earns the highest rate.
Most Dime accounts have a low amount required to open an account. All the checking accounts only require $25 to open. The money market account requires $1,000, and CDs require $500. The club savings accounts only require $5 to open.
The money market account offers competitive interest rates. There is no monthly fee for the Dime money market account. This account requires $1,000 to open. You can open the money market account online. Online and mobile banking are available. Some of the CDs offer competitive interest rates, but not all the terms.
Dime offers a variety of different types of accounts. They offer personal and student savings accounts. A money market account and specific Club savings accounts are available. Dime offers four different checking accounts and many different CD terms. This allows you to find the accounts that best fit your financial needs.
Dime offers many business accounts. Savings, checking, and money market accounts are available for businesses. CDs and lines of credit are available. Business account holders have access to different money management options. Online and mobile banking are also available for business accounts.
You cannot open all Dime accounts online. To open a CD, you must visit a branch location. To open a checking account, you can call customer service or visit a local branch. The Dime money market account can be opened online.
Most of the interest rates offered through Dime are not competitive. The interest rates are similar to typical brick and mortar rates. Only the MMA and a few CDs offer interest rates that are competitive with online-only accounts.
Some Dime accounts have a monthly fee. The fees range from $4 to $10 a month. The Dime savings account has a fee. The Prime Dime Interest checking account also has a fee. This checking account earns the highest interest rates of the checking accounts. Waive the account fees by keeping $500 in the savings account and $1,500 in the checking.
To open some Dime accounts, you must visit a branch location. All the branch locations are in New York. If you don’t live close to a branch, you are not able to open those accounts.