Zions Bank Deseret Money Market Account
Posted by Best Money Rates on 08/31/07 in Best Money Market Rates
Zions Bank just increased the yield on the top tier of its Deseret Money Market Account from 5.36% to 5.56% APY. This top tier requires a minimum balance of $50,000. Balances between $1k and $50k continue to earn 5.30% APY. It’s listed on their website at two alternative URLS: deseret.zionsbank.com and deseretfinancial.zionsbank.com. The Deseret money market account also includes the no monthly fees and limited check writing.
The bank has been FDIC insured since the FDIC program started in 1934. It has 152 branches in Utah and Idaho with over 2,500 employees. Bankrate.com still rates the financial strength of Zions as 4 out of 5 stars.
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John | Sep 13, 2007 | Reply
This is a great rate at a bank that has a high quality rating. One caveat: If you go to Zions Bank website and click on MM funds, they DO NOT SHOW THE DESERET ACCOUNT. I signed up for what was shown as their highest rate account–the “Internet MM Account”. In fact this today pays 5.14% vs 5.41% for the Deseret. And the Deseret even has checking (the Deseret has a higher minimum-$1,000 vs $100). So I find it a bit sneaky. I write and they said “Sure, you can switch.” And I will–but what a pain. They should have all their accounts on the Accounts page. You can’t even get access to an application for the deseret account by searching for “Deseret” on their site! Use the link in this story or go in through bankrate.com > Highest yielding MM funds. Make sure it says Deseret. –J