Money Market Flex Index Account

GET A GREAT RATE WITH EASY ACCESS, AND THERE’S NO RISK.
Bank of Milton Money Market Flex Index Account offers a high, competitive rate of interest, yet is fully insured, and you have immediate access to your funds. A minimum deposit of $10,000 will open this great investment opportunity.

WHAT AN INVESTMENT ACCOUNT WAS MEANT TO BE
The Bank of Milton Money Market Flex Index Account offers you:

  • High interest rate.
  • FDIC insurance (protects principal and interest to $100,000)
  • Direct deposit of payroll or Social Security checks
  • Convenient withdrawals, deposits and inter-account transfers*
  • No market risk. Unlike money market mutual funds, your principal is
    guaranteed never to go down

MARKET INDEX RATES
The Bank of Milton Money Market Flex Index Account offers a premium money market return, which is competitive with the highest yielding money market funds in the area. Weekly interest rate adjustments offer you the most competitive rates available.

*You may make as many withdrawals as you wish by mail, or in person, however, limit pre-authonzed, electronic or telephone withdrawals to three per statement period. For the Bank of Milton Money Market Flex Index Account, all three may be checks.


INTEREST RATE
When you maintain an average monthly balance of at least $10,000, your interest rate will be competitive with the highest yielding money market funds in the area. If your account average balance is less that $10,000, you receive a rate of interest set by the bank. Call for our current rates.
Balance Interest Rate
$0 - $9,999 Rate set by the bank
$10,000 + Rate set by the bank


QUALIFYING BALANCES
A Bank of Milton Money Market Flex Index Account has no monthly service charge when:

  • You maintain an average monthly balance of $10,000 or more.

And, a Bank of Milton Money Market Flex Index Account has no monthly transaction charges.

However, if you choose not to maintain the average monthly balance, your account will be charged a $10.00 service charge per month. Please see a Fee Schedule for details and special fees that may be incurred (overdrafts, stop payment fees, etc.)

**The competitive index used to determine the rate may be subject to change. Fees could reduce the yield.


SAFETY
Bank of Milton Money Market Flex Index Accounts are FDIC insured, up to $100,000.

IMAGES OF THE FRONT OF YOUR CHECKS WILL BE RETURNED TO YOU IN YOUR MONTHLY STATEMENT.

 

 

 

 


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NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules. The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts (“IOLTAs”).  For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

 

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