Maspeth Federal Savings: Savings Interest and Money Market Account

Maspeth Federal Savings of Queens, New York is advertising two savings accounts and a money market account. The accounts have some of the best interest rates currently available. The bank’s savings account rate and money market account rate are both above the national average rates.

Maspeth Federal Savings’ Passbook and Statement Savings Account has a savings account rate of 1.18 percent with an annual percentage yield (APY) of 1.20 percent.

That savings rate isn’t the highest savings account rate around but it is more than 3 times the national average of 0.34. You have to maintain a minimum balance of $250.00 in the savings account to earn the savings rate and savings yield.

The current money market account rate is 1.18 percent with an APY of 1.20 percent. You have to maintain a minimum money market account balance of $2,500.00 to earn the interest rate and yield.

All Deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. As with any variable rate account the interest rate can change at any time. For more information about Maspeth Federal Savings and a list of current savings account interest rates/money market account rates, visit maspethfederal.com.