Last Updated: 04/18/2025
Norway Savings Bank Business Money Market
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.01% - 0.40%(Verified 06/21/2024)
Minimum Balance to Earn APY
$0.01
Minimum Opening Deposit
Starting at $25
Norway Savings Bank Business Money Market Review
Norway Savings Bank Business Money Market is offered by Norway Savings Bank, a bank founded in 1866 and based in Norway, ME. Norway Savings Bank Business Money Market are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.40%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $0.01.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $25 to open an account.
Pros & Cons of Norway Savings Bank Business Money Market
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Norway Savings Bank Business Money Market FAQ
Are money market accounts from norway savings bank federally insured?
Yes, your Norway Savings Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What are the interest rates for Norway Savings Bank Business Money Market rates?
Norway Savings Bank Business Money Market offers an APY starting at 0.01% and ranging up to 0.40% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.01% - 0.40% |
What are the fees for Norway Savings Bank Business Money Market?
Norway Savings Bank Business Money Market does not charge a monthly maintenance fee.
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| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for Norway Savings Bank Business Money Market?
Minimum deposit of $25. You must make an initial deposit of at least $25 to open this account.
Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.
What features and perks does Norway Savings Bank Business Money Market offer?
This account includes the following features:
- Mobile Banking Services - Norway Savings Bank Business Money Market allows you to manage your money through online banking and a dedicated mobile app.
- Nationwide ATM network - Norway Savings Bank Business Money Market allows you to access your money from an ATM, a convenient feature only a few offer.
What is the customer service phone number?
The customer service number for this account is (888) 725-2207.
What is the support contact email?
The support contact email for this business credit card is customercare@norwaysavingsbank.com.
How to open an account with Norway Savings Bank
- Visit the Norway Savings Bank website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
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Hours of Operation
Sunday
Closed
Monday
8:30AM - 4:30PM
Tuesday
8:30AM - 4:30PM
Wednesday
8:30AM - 4:30PM
Thursday
8:30AM - 4:30PM
Friday
8:30AM - 5:00PM
Saturday
8:30AM - 12:00PM