Available for residents Nationwide, Spencer Savings Bank E-Money Market + Platinum Checking is offering 1.10% APY. Continue reading below to learn everything you need to know about Spencer Savings Bank and this account.
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Spencer Savings Bank Money Market/Checking Review
Spencer Savings Bank is headquartered in Elmwood Park, New Jersey and was established in 1939. Since then they have grown to 22 locations, offer money market rates that are 3X the national average, and they have an A health rating.
In addition to the rate from this bank, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
I’ll review Spencer Savings Bank E-Money Market + Platinum Checking below.
Spencer Savings Bank Money Market/Checking Rate
To earn Spencer Savings Bank E-Money Market + Platinum rate, you must have a minimum balance of $5,000.
- What you’ll get: 1.10% APY
- Eligible account: E-Money Market + Platinum Checking
- Credit inquiry: Soft Pull
- Where it’s available: NJ (Bank Locator)
- Opening Deposit: $5,000 minimum
- Monthly fee: None
- Early Termination Fee: None listed, check with CSR
- Editors Note: If you do not include the platinum checking account you will earn a 1.10% APY instead
(FDIC Insured)
How to Earn Spencer Savings Bank Rate
- Open a Spencer Savings Bank account with $5,000 as the opening deposit
- Input your info – Provide your name, address, phone, email and social security number or Tax ID
- To earn the 1.10% APY you must fund the account with $5,000 or more
- Minimum opening deposit of $100 and a $2,500 minimum to earn interest
| Balance Requirement | APY Rate |
| $5,000+ | 1.10% APY |
Spencer Savings Bank Account Features
- FDIC Insured
- Online Banking
- Bill Pay
- Mobile Banking
- ATM/VISA Check Card
- Monthly eStatements
- Direct Deposit
Conclusion
In conclusion, Spencer Savings Bank is offering a rate of 1.10% APY when you open an E-Money Market + Platinum Checking Account with account balances of $5,000 or more. This might be a bit high for some, however, if you can meet this requirement, the account may be worthwhile since there is no balance cap.
Let us know about your experience with this bank and comment below.
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