Personal Banking
Premier Money Market
High balances deserve top rewards
- No minimum balance requirement
- No monthly maintenance fee
- Keep your money liquid and safe - without a long-term commitment
- A premium interest rate will be paid on daily balances of $50,000 or more
- As rates change, you will always enjoy NJM Bank's highest money market returns. Interest is paid on all balances and rates increase as your balances rise
- Six electronic funds transfers per month permitted from the account, three of which may be by check1
- An initial deposit of $25,000 or more is required
- Free Online Banking and Telephone Banking
Our Premier Money Market Account is designed to be a flexible vehicle for saving and investment rather than a typical transactional account. NJM Bank does not offer Debit Cards or electronic Bill Pay with this account, given the limited number of monthly transactions permitted by law.
Without having to administer these services and frequent transactions, we can pass the savings on to customers by paying our best money market rates. And unlike fixed-term accounts, in which you are committed to lock up your money for set periods of time, your yield can go up with this account if rates increase.
1 Federal Regulations limit this account to no more than six electronic transfers per monthly statement cycle, either to another account held by the depositor at the same institution or to a third party (such as pre-authorized, automatic, computer and/or telephone transfer). No more than three of the six transfers can be made by check, draft and/or point-of-sale transaction payable to a third party. There is a fee of $10.00 for each electronic transfer transaction exceeding the six permitted per statement cycle. Exceeding six transfers could also lead to the elimination of transfer capabilities or closure of the account.
