First Central Savings Bank Savings Account and Money Market Account

First Central Savings Bank headquartered in Glen Cove, New York, is offering eight types of savings accounts. The savings accounts include a Passbook Savings Account, Statement Savings Account, Young Savers Account, Holiday Savings Account, Jumbo Savings Account, Supreme Savings Account, DaVinci Statement Savings Account and a Magellan Statement Savings Account.

The bank's DaVinci Statement Savings Account currently has the best savings account rate available. The current rate is 1.22 percent with an annual percentage yield (APY) of 1.23 percent.




The savings accounts all have a different minimum balance requirement to earn the current savings rate and APY. The savings account rates are the same for their Passbook Savings, Statement Savings, Young Savers, Holiday Savings and Magellan Statement Savings accounts. The current savings rate is 0.50 percent with an annual percentage yield of 0.50 percent. Following is a list of current savings account rates.

Savings Account Rates and APY




  • Passbook Savings Account Rate 0.50% APY 0.50%


  • Statement Savings Account Rate 0.50% APY 0.50%


  • Young Savers Account Rate 0.50% APY 0.50%


  • Holiday Savings Account Rate 0.50% APY 0.50%


  • Jumbo Savings Account Rate 1.00% APY 1.00%


  • Supreme Statement Savings Account Rate 0.40% APY 0.40%


  • Magellan Statement Savings Account Rate 0.50% APY 0.50%


  • DaVinci Statement Savings Account Rate 1.22% APY 1.23%


Money Market Account Rates




  • Balances of $500 to $24,999 - 0.50  MMA Rate 0.50% APY


  • Balances of $25,000 to $49,999 - 0.75% MMA Rate 0.75% APY


  • Balances of $50,000 and Above - 1.00% MMA Rate 1.00% APY


The minimum money market account balance requirement is $500. For current savings interest rates and money market account rates go to  firstcentralsavings.com.
 
Author: Jason P. Jones
April 22nd, 2010