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Business Premier Leader Money Market Account - 3.90% APY
At NESB, all deposits are insured in full through a combination of DIF and FDIC Insurance. Open your Business Premier Leader Money Market Account online or in-person to get a great return and guaranteed security.
Schedule an appointment at your local banking center.
The NESB Business Premier Leader Money Market Account is a relationship account, specifically designed for businesses and non-profits that have an active business checking relationship with us. For those interested and not yet banking with NESB, please know we have what many consider to be the best commercial checking accounts in New England.
Deposit Special Rates
$1,000 minimum to open.
This product is for customers who have an active business checking relationship with the Bank and the Annual Percentage Yield is as of January 16, 2025. The minimum to open is $1,000 and fees may reduce earnings. Your interest rate and annual percentage yield may change.
Determination of Rate.
Tier 1 - Rate may vary monthly and will be equal to the Effective Fed Funds rate minus .50% as listed on the FRB daily data release. Interest will be credited monthly to the account on the 15th business day of the month. The credit will represent the Effective Fed Funds rate minus .50% that was published on the FRB daily data release on the 15th business day of the previous month.
Tier 2 - Rate may vary daily and will be set at a rate as determined by the discretion of the Bank.
Frequency of Rate Changes. We may change the interest rate on your account every month.
Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account. The interest rate for your account will use Tier B interest calculation method. Daily balances up to and including $1,999,999.99 in your Business Premier Leader Money Market account earn the first tiered rate noted above; and daily balances over $2,000,000 earn the second tiered rate on the portion of the daily balance over $2,000,000.00. This range assumes a $2,000,000.01- $999,999,999 account balance, although higher balances are accepted.
Additional Rate Information.
Effective Fed Funds Rate can be found here: https://www.newyorkfed.org/markets/reference-rates/effr
