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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

Premium Business Money Market*

Earn a higher rate than regular checking accounts.  Up to six pre-authorized transfers per statement cycle

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.

 

*Account subject to Regulation D transfer limitations.  During any monthly cycle you may not make more than six (6) preauthorized withdrawals or transfers to another account of yours or to a third party by means of automatic transfer, telephone order or instruction, computer transfer, or by check, draft, debit card or similar order.

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