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Magyar Bank
Free in Google Play

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Magyar Bank Google Play App Icon

Magyar Bank
Free in Google Play

Download

Magyar Bank Apple Store App Icon

Magyar Bank
Free in the App Store

Download

Magyar Bank Apple Store App Icon

Magyar Bank
Free in the App Store

Download

Business Savings Image

Business Money Market/Savings

Statement Savings

Earn interest on balances over $100

Current Rates

Business Money Market

Earn a higher rate than regular checking accounts. 

Current Rates

Demand Deposit Marketplace SM 

Magyar Bank is pleased to offer Demand Deposit Marketplace (DDM), an automated, daily sweep service that enables Magyar to provide customers with expanded levels of FDIC insurance.

  • DDM is a liquid FDIC insured alternative to money market mutual funds. It enables investors to obtain millions of dollars of FDIC insurance with daily liquidity and potentially higher returns.
  • Joint accounts receive up to $40 million in FDIC and all other account types receive up to $20 million. However, individuals in different account types may receive higher amounts.
  • Proved the safety and explicit guarantee of FDIC insurance that money funds do not offer.
  • Eliminate market risks associated with money fund investing.
  • Currently offers a yield advantage to money funds.
  • While deposits may be allocated to deposit accounts held at several program banks, your cash is accessible on a daily basis.

For more information, or to speak with a Magyar Bank representative to see if DDM is right for you, call 1-888-990-2265.

 

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