Premium Money Market: $15 monthly fee. Why Should You Get a Business Credit Card? Even with its highest-earning promotional rates, Regions Bank’s money market accounts fall flat. 0.30%. If you want a Regions Bank savings account without also opening a checking account, this is the account for you. Most Common Mistakes When Filing Your Taxes, Community First Bank Personal Money Fund Checking Account, Community First Bank of Wisconsin Classic Money Market, ESL Federal Credit Union Money Market Account, Educators Credit Union Premium Money Market, Exchange Bank and Trust Money Market Account, First Bank and Trust Company Money Market, First Bank and Trust of Texas High Yield Savings, Filter & compare all your options in one place. 18 Month Variable Rate (Traditional only) Earns interest at a rate that is comparable to the prevailing rate 4 in the market. This account comes with online statements. This is a great way to teach kids and teens how savings accounts at some banks offer almost nothing for interest. If you want to use one of Regions Bank’s checking accounts, you’ll need to stay on your toes in order to avoid monthly account maintenance fees (except for its student checking account, which is free). You’ll need to provide Regions Bank with a government-issued ID, a way to fund your new account and some personal information about yourself. $50, or $5 if you open this account in person at a branch and set up a monthly automatic transfer from your checking account. This can make it difficult for people just getting started saving in a money market account. 60-72 months. Regions offers a variety of options on fixed rate loans, but 15- and 30-year fixed rate mortgages are its … They work just like Regions Bank’s regular CDs. Keep in mind, however, you’ll need to keep at least $300 in this account at all times in order to avoid the $5 monthly account maintenance fee. Here's how to make sure you get every penny of interest you can. Have a Regions Bank checking account with either. You’ll get free money orders and cashier’s checks, and a 50% discount on safe deposit boxes. If you close the account within 180 days of opening, you’ll pay a $25 “early account closing” fee. Complete Guide to Personal Lines of Credit. Reverse Mortgages: When Do They Make Sense? With Cashback Rewards®, you get cashback offers that you can earn when using your Regions Visa® CheckCard at certain retailers. Small rate discount — Regions offers a 0.25% to 0.50% interest rate discount on secured personal loans to customers who borrow $5,000 or more and sign up for automatic payments from their Regions checking account. You’ll need to either make a phone appointment with a bank representative or visit a branch in person to open this account. Can a First-Time Home Buyer Get a Jumbo Loan? Minimum initial deposit of $100. FDIC insurance is backed by the full faith and credit of the United States government. If you sign up for auto debit payments from your Regions account, you’ll get a 40% discount total. To open an account, a minimum opening deposit of at least $100 is required. In order to open this account, a child or teen will also need an adult co-owner. You may see links to LendingTree services and sites on our websites. This monthly-fee-free checking account is available to people 25 and under. Another important consideration is that this CD can only be opened as a traditional IRA, not as a Roth IRA. Otherwise, you can earn much better rates and pay lower fees at many other banks. 0.07% Online Money Market Account Rates. You can have it deposited periodically into another Regions bank account, sent to you via check or deposited back into your CD. None. You can only open one of these Variable Rate IRA CDs over the phone or by visiting a local branch in person. This checking account comes with a smaller monthly fee, but doesn’t earn any interest. Which Account Fits You Best? MagnifyMoney is a free, independent service providing unbiased comparisons of financial products, therefore if we are compensated then we will let you know on the product page before you leave our website. Finally, you’ll also be able to participate in both of Regions Bank’s proprietary rewards programs: Relationship Rewards® and Cashback Rewards®. Keep in mind, though, that this is a flexible rate and could change at any time. Capital One. Tiered interest rates, benefiting larger account holders; Relationship Rewards program; Small opening balance requirement; Cons. If you close the account within 180 days, you’ll also pay a $25 early account closing fee. This is a great account for young adults looking for an account with no monthly fee at Regions Bank. When your account matures, they will automatically roll over into another CD of the same type, but with the new interest rate of the day. What is the average interest rate on a money market? Let's Get Started! You also have the option of participating in the Regions Relationship Rewards® program and its Cashback Rewards® program at select merchants. If you choose paper statements instead, you’ll pay a $2 monthly fee. If you want to open a promotional CD with Regions Bank, you’ll need to make an appointment with a local branch to set up your CD. 0.50%. Getting a Mortgage With a Smaller Down Payment and No PMI. If you find an error please let us know here. How to Get a Reverse Mortgage: 3 Steps to Getting an HECM. **A$100,000 minimum balance is required to earn this rate. You can choose to have interest paid out to you via check, transfer into another Regions Bank account or deposited back into the CD to earn even more interest. Regions Bank’s IRA Money Market account lets you save for retirement outside of a CD, but you won’t earn much on your savings. High monthly fees of $12 and $15; Learn which banks offer the highest money market rates. The nice thing about these CDs is that you get a range of options on how interest is paid out. You can avoid the monthly fee if you keep a minimum balance $2,500. For CD terms of a year or more, you’ll pay six months’ worth of interest. Regions Bank Premium Money Market Account offers an APY starting at 0.01% and ranging up to 1.01% (APY stands for annual percentage yield, rates may change). SuperMoney strives to provide a wide array of offers for our users, but our offers do not represent all financial services companies or products. Customer Service: 24/7 Telephone Customer Service: Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET) ATMs Regions Money Market: $12 monthly fee. The interest rates shown are subject to change without notice. The easiest way to open a LifeGreen eAccess account is online. Other than that, this account works very similarly. Yes, your Regions Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). You’ll earn next to nothing (literally) with its standard money market account. Given this will be part of a long-term savings strategy, it’s something to pay attention to. The average interest rate on a money market account is currently 0.08 percent, according to Bankrate's weekly survey of institutions. Base Tier: (0.42% APY, 0.399% Interest Rate) A minimum qualifying deposit of $200 is not deposited each month into the linked eChecking or the eChecking account is closed. There’s a $25 fee if you close the account within 180 days after opening it, as well as a $2-$5 fee for each monthly paper statement, depending on how detailed you want it to be. How To Get a Personal Loan With Fair Credit, How to Use a Personal Loan to Build Credit. Rate information: Tier 1 – Is It Okay to Open and Close Bank Accounts? This offer is only available for a limited (and unstated) amount of time, however. Minimum opening deposit:$2,500 for CD terms between 7-89 days. This checking account carries the smallest monthly fee, and there’s no way to avoid paying it. Avoid These Costly Mistakes, Compare Specialty Homeowners Insurance Reviews, Expert Strategies to Invest in Real Estate, How To Start Investing with $1,000 or Less, Investment Strategies to Start Building Wealth, Finding the Right Investor for Your Startup, Strategies On Increasing Your Current Income, How To Manage Your Personal Finances Successfully, Retirement Savings: Making Up for Lost Time. Complete Guide, How To Find Auto Insurance That Covers Any Driver, How to Get Cheap Auto Insurance Before You Buy a Car, What Homeowners Need To Know About Excess Flood Insurance, How to Find Home Insurance that Covers Water Damage, How to Find Home Insurance That Covers Everything, How to Dispute a Home Insurance Claim Settlement, Surprising Things Homeowners Insurance Doesn't Cover, How to Find the Best Whole Life Insurance Policy, Differences Between Whole and Term Life Insurance. The interest rates offered on its Fixed Rate IRA CDs are very poor compared with the best banks. Monthly Fee. This simply means that your exact interest rate depends on your account balance, with higher balances usually earning at a higher rate. Regions Bank’s promotional CD offers a decent interest rate in return for a minimum $10,000 deposit. Disadvantage if rates were falling sites on our websites deluxe check images, ” you ’ ll pay full! 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