Choice Money Market | Byline Bank

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You deserve more.

Receive up to 0.10% APY when you open a Choice Money Market account*.

Effective Date: August 7, 2020

Account Balance TiersAnnual Percentage Yield (APY)Interest RateCompounding and Payment PeriodMinimum Deposit to OpenMinimum Balance to Avoid Monthly Service FeeMinimum Balance for APY
$10,000 or greater0.10%0.095%Monthly$1,000$10,000$10,000
Less than $10,0000.03%0.025%Monthly$1,000$10,000$2,500

Interest rates are set at the Bank’s discretion and and are subject to change without notice. We reserve the right to cancel or change this promotion at any time. Accounts closed before the interest payment date will not earn accrued interest for that period.

New money only. A $1,000 minimum deposit is required to open the account. The minimum daily balance required to earn interest is $2,500. If the daily balance falls below $10,000, and is equal to or above $2,500, the interest paid on the entire balance in the account will be 0.025% with an APY of 0.03%. When the daily balance is $10,000 or greater the interest rate paid on the entire balance will be 0.095% with an APY of 0.10%. A $10,000 minimum daily balance is needed to obtain the stated APY and to avoid the $25 monthly fee.

You must maintain minimum required balance in the account each day to obtain the annual percentage yield listed above. We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit any non-cash items (for example, checks).

Fees may reduce earnings on the account. See Account Disclosure for terms and conditions.

©2020 Byline Bank. Member FDIC.

Rev. 8/7/2020