Haven Savings Bank Savings Rates and Money Market Account Rates

Haven Savings Bank based in Hoboken, New Jersey, is advertising regular savings rates, money market rates and Step-Up money market account rates. Haven Savings Bank's savings rates are certainly not the best savings rates available but they are slightly better than the national average savings rate released last week by the Federal Deposit Insurance Corporation (FDIC).

Current passbook savings account rates at Haven Savings Bank are advertised at 0.25 percent with an APY of 0.25 percent. The minimum opening balance for a passbook savings account at Haven Savings Bank is $50. You also have to maintain a savings account balance of at least $50 to earn the rate and yield.




The current FDIC national average savings rate is at 0.08 percent, less than one third Haven Savings Bank's rate. This bank's rate is also three times current jumbo savings rates in the FDIC survey this week. The current jumbo savings rate this week is also at 0.08 percent.

Haven Savings Bank current money market account rates are also at 0.25 percent with an APY of 0.25 percent. The minimum opening balance for a regular money market account is considerably higher than a savings account. The current minimum opening balance is $1,000. You also have to maintain a balance of $1,000 to earn the money market rate and yield.

Haven Savings Bank Step-Up money market account rates are tiered and currently has two different rates. Account balance of $5,000 to $24,999 earn a rate and yield of 0.25 percent. MMA account balances of $25,000 or more earn a rate and yield of 0.35 percent.

The FDIC's current national average money market rate is 0.12 percent and jumbo money market rates are averaging 0.18 percent. Haven Savings Bank money market rates are higher than the national averages but again are not the best rates available. Right now on our national money market rate list Sallie Mae Bank is offering MMA rates at 1.04 percent with an APY of 1.05 percent.

You can see how Haven Savings Bank's rates compare with other bank rates by searching our rate tables. You can find the highest savings account rates and money market rates by searching our rate tables.
 
Author: Lisa Graham
October 11th, 2012
Posted in: Savings Accounts