Money Market Account
Save Today and Plan for a Secure Financial Future Tomorrow
A BofGB money market account allows you to access your funds at any time, unlike certificates of deposit (CDs) that don’t allow you access to your funds until maturity without penalty for early withdrawal. Money market account holders can also continue to add to their account balances at any time. If you open a Money Market ADVANTAGE account and maintain a balance of $25,000 or more, any new deposits still receive the high-yield of the Money Market ADVANTAGE account.
If you are saving for a future goal, but still need the flexibility and convenience of a savings account, a money market account might be the right option for you. Our money market accounts are available to both retail consumers and businesses. Start small with our standard money market account if your opening deposit is less than $25,000. If your opening deposit is $25,000 or more, take advantage of our higher-yield Money Market ADVANTAGE account.
Call or stop by one of our convenient branch locations today and start earning more for your money. We would love to sit down with you and help your savings grow as you grow.
Open a BofGB
High-Yield Money Market ADVANTAGE Account
4.07% APY1
($25,000 minimum opening deposit)
- $7 monthly maintenance fee waived unless daily balance falls below $25,000
- If the daily balance falls below $25,000, the APY will be 0.03%
- Maintain access to funds while maximizing earnings
- Interest is accrued daily and credited and compounded monthly
- Available to both retail consumer and business accounts
- Six debit transactions permitted per statement cycle; a $15 activity fee will be charged for each debit transaction in excess of six
- Bank anywhere/anytime with access to your account via online banking and our mobile banking apps
1Annual Percentage Yield (APY) is accurate as of 11/20/2023. The minimum balance to open and obtain the 4.07% APY is $25,000. If the daily balance falls below $25,000, the APY will be 0.03%. Fees could reduce earnings. Activity restrictions may apply. A money market account is a variable rate account, and your rate could change at any time without notice. Public Funds and Financial Institutions are excluded. Speak with a branch representative for details, fees, and terms.
Not sure which interest-bearing account type is right for you?
| Account Name | Best For | Interest Rate | Annual Percentage Yield (APY) | Minimum Opening Deposit | Minimum Balance to Earn APY | Monthly Service Charge/Activity Fee |
|---|---|---|---|---|---|---|
| Money Market Savings (Consumer and Business) | Lower Balances/Minimal Debit Transactions | 0.05% | 0.05% | $2,500 | $0.01 | $7 if daily balance falls below $2,500 in a statement cycle; $15 activity fee for each debit transaction in excess of six during a statement cycle |
| Money Market ADVANTAGE Savings (Consumer and Business) | Higher Balances/Minimal Debit Transactions | Tier 1: 0.03% Tier 2: 4.00% | Tier 1 (below $25,000): 0.03% Tier 2 ($25,000 or more): 4.07% | $25,000 | Tier 1: $0.01 Tier 2: $25,000 | $7 if daily balance falls below $25,000 in a statement cycle; $15 activity fee for each debit transaction in excess of six during a statement cycle |
| Consumer Interest Checking | Frequent Debit Transactions | 0.03% | 0.03% | $1,000 | $0.01 | $5 if daily balance falls below $1,000 in a statement cycle and $0.20 per item paid |
| Consumer Premium Interest Checking | Frequent Debit Transactions | 0.03% | 0.03% | $2,500 | $0.01 | $7 if balance falls below $2,500 in a statement cycle |
| Business Interest Checking | Frequent Debit Transactions/Limited to sole proprietors and non-profit organizations | 0.03% | 0.03% | $1,000 | $0.01 | $5 if daily balance falls below $1,000 in a statement cycle and $0.20 per item paid |
| Business Premium Interest Checking | Frequent Debit Transactions/Limited to sole proprietors and non-profit organizations | 0.03% | 0.03% | $2,500 | $0.01 | $7 if balance falls below $2,500 in a statement cycle |
Interest Rates
All interest rates are set by The Bank of Glen Burnie® and are subject to change at any time based on market conditions.
Important Information: Fraud Protection | New Account Opening Information
