Popular Community Bank Has 6-Month Rate Optimum MMA Guarantee

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Availability: Optimum Money Market Special only available to New York residents.

Popular Community Bank (PCB) is offering a promotional rate on its Optimum Money Market (1.26% APY), with a rate guarantee for six months from the account opening date. The minimum opening deposit is $10k, and a minimum average daily balance of $10k must be maintained to qualify for the promotional rate.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.26%$10k-Popular Community BankOptimum Money Market Special
Accounts mentioned in this post. Rates as of August 26, 2016.

Popular Community Bank is also offering a 19-month CD (1.26% APY) as part of their “2 Choices – 1 Great Rate!” promotion, but the 19-month CD only ranks 20th when to compared to other similar length-of-term CDs available in New York.

Thank you to DA reader, Sperry8, for his Forum post on the Optimum Money Market Special.

Availability

Headquartered in New York City, Popular Community Bank has a market area that includes the greater New York Metropolitan area, Northern New Jersey, and South Florida, but the Optimum Money Market is only available to New York residents.

Applying for the Optimum Money Market Special can be done online, or at any of 34 full-service New York branches located in the boroughs of the Bronx, Brooklyn (10), Manhattan (29) and Queens (4).

Bank Overview

Popular Community Bank (FDIC Certificate # 34967) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 6.28% (excellent) based on March 31, 2016 data. In the past year, PCB has increased its total deposits by $539.35 million, an excellent annual growth rate of 11.11%. Please refer to our financial overview of Popular Community Bank for more details.

How the Optimum MMA Special Compares

The six month promotional rate guarantee makes a comparison to both CDs and Money Market Accounts appropriate. Therefore, when compared to all the 6-month CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to New York residents, Popular Community Bank's Optimum Money Market Special promotional rate currently ranks first.

When compared to the 308 Personal Money Markets tracked by DepositAccounts.com that are available to New York residents, Popular Community Bank's Optimum Money Market Special promotional rate currently ranks first, regardless of minimum deposit requirement.

The above rates are accurate as of 7/22/2016.

To search for nationwide MMA rates and MMA rates in your state, please refer to the Money Market rates section of DepositAccounts.com or our Rates Map page.

Comments
RichReg
RichReg   |     |   Comment #1
I'm happy to report that this Money Market is also available to New Jersey residents,.. as I opened one last month in the Perth Amboy, NJ branch. Maybe not as easy to do online...
This type of account actually replaces their 'old' promo, the "Popular Saver Money Market" ...which had been guaranteed until April 14th of this year (also 1.25%), but never really expired at all. When I discovered this in May, I opened one....then subsequently closed it & opened a new "Optimum" in June with no problem.
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