Money Market

Name: Money Market
Brand: Leader Bank

Earn more on your hard-earned savings with easy access to your funds!

More Bang for Your Buck

Leader Bank’s Money Market accounts provide you with all of the benefits and flexible access to your funds that come with a traditional Checking account but with a tiered interest rate that will help you earn more the higher your balance is! Plus, you’ll have access to your money any time you need it.

Bank with Confidence

Rest easy knowing funds in your Money Market are secure through Leader Bank with FDIC coverage up to $250,000. Increase coverage on deposits beyond this limit through the IntraFi Cash Service network.

Access Funds Anytime

Unlike a Certificate of Deposit, you’ll be able to use funds in your Money Market account whenever you need them. It’s the best of both worlds – a higher rate and flexible access to your money!

Streamlined Account Management

With Leader Bank’s Online and Mobile Banking platforms, you’ll be able to easily manage your account on the go. Transfer funds and pay bills anytime, anywhere!

Open an Account

Rates

Disclosures

^{You may only make six (6) preauthorized, automatic, telephone or third party check transfers from your Money Market account each statement cycle. Bill payments will count towards the six (6) monthly allotted transactions. We reserve the right to at any time require not less than seven (7) days’ notice in writing before any withdrawal from your account. You must maintain a minimum balance of $10.00 in the account each day to obtain the minimum disclosed APY. A monthly service charge of $6.00 will be imposed every statement cycle if the account balance falls below $1,000.00 on any day of the statement cycle.}

Money Market Account Benefits

Accelerate Interest Earning

Work Toward Your Savings Goals

Only $10 Required to Open an Account

Flexible Access to Your Funds

Ready to Get Started?

Open Account

Frequently Asked Questions

A money market is a type of deposit account that combines some of the features of Checking and Savings accounts. Like a Savings account, money markets pay interest on your account balance. And similar to Checking accounts, funds in a money market account can be used with a checkbook or debit card at will.

Yes. Money market funds are insured up to the FDIC limit of $250,000. Plus, Leader Bank is proud help our clients maximize access to coverage beyond this limit through the IntraFi Cash Service network!

Unlike like a CD account, you can withdraw money from your money market account whenever you need to. However, it’s important to note that some banks may place limits on how many withdrawals you can make from a money market during a statement period. At Leader Bank, you are allowed to make six preauthorized, automatic, telephone or third-party check transfers from your money market account each statement cycle.

Minimum balance requirements will vary by financial institution. At Leader Bank, only $10 is required to open a money market account and earn interest.

While money market accounts share some features with traditional Savings accounts, the primary difference is how you access your money. With a Money Market account, you’ll be able to withdraw and spend money similar to how you would with a Checking account – with a debit card or checks.

A money market account is perfect if you already have money saved up and want to earn interest on it, but still need quick and easy access to it.

Savings Goal Calculator

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By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

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You could reach your goal in 4 years, 1 months.

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Savings plan inputs:

Savings goal:*This entry is required.Enter an amount between $100 and $10,000,000

Target years to save:*This entry is required.Enter an amount between 1 and 100

Amount currently saved:*This entry is required.Enter an amount between $0 and $10,000,000

Monthly savings:*This entry is required.Enter an amount between $1 and $10,000,000

Saving frequency:*This entry is required.

Expected Rate of return:*This entry is required.Enter an amount between 0% and 20%

Expected inflation rate:*This entry is required.Enter an amount between 0% and 20%

Federal tax rate:*This entry is required.Enter an amount between 0% and 100%

State tax rate:*This entry is required.Enter an amount between 0% and 100%

Savings Plan by Year Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Savings Plan by Year

Definitions

Savings goal

The amount you wish to have in savings at the end of this savings plan.

Target years to save

The number of years you have to save.

Amount currently saved

Total you currently have saved toward this savings goal.

Monthly savings

The amount you will contribute each month to your savings. This calculator also assumes that you make your contribution at the beginning of each month.

Expected rate of return

This is the annually compounded rate of return you expect from your savings or investment. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending December 31^st 2023, had an annual compounded rate of return of 15.2%, including reinvestment of dividends. From January 1, 1970 to December 31^st 2023, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.9% (source: www.spglobal.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution may pay as little as 0.25% or less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that investment funds and/or investment companies may charge.

Expected annual inflation rate

This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2023 the CPI has a long-term average of 3.0% annually. Over the last 40 years the highest CPI recorded was 13.5% in 1980. For 2023, the last full year available, the CPI was 3.1% annually as reported by the U.S. Bureau of Labor Statistics.