High Yield Money Market Investment Account

Do you want to see a comprehensive analysis of Comerica’s High Yield Money Market Investment Account? At Responsible Economy, we present all the features of the High Yield Money Market Investment Account along with a comparison to the best savings accounts you can open in the United States. Let’s get started!

Features

In this section, we provide you with a detailed showcase of all the features.

Interest rate

The High Yield Money Market Investment Account currently has a promotional offer, providing an interest rate of 4.25% APY. This interest rate is competitive, considering that the best savings accounts in the United States are offering a 5% APY.

Without the current promotional offer, the interest rate would be 0.03% APY.

Fees

You have a monthly fee of $17 ($204 per year) if you do not meet the following requirement:

  • 15,000 minimum Ledger Balance each day or have a Comerica Platinum Circle Checking account or 1849 Checking Account.

Minimum deposit

The minimum initial deposit to open this savings account is $50.

Summary table

Here is a summary table with all features:

CharacteristicsDescription
Interest Rate4.25% APY
Monthly Fee$17 (unless requirements met)
Requirements to Waive Fee15,000 minimum Ledger Balance each day or have a Comerica Platinum Circle Checking account or 1849 Checking Account
Minimum Initial Deposit$50
High Yield Money Market Investment Account

Comparison with the best savings accounts

We have conducted a comparison of the High Yield Money Market Investment Account with the best savings accounts you can open in the United States:

CIT Bank Logo
  • 4.05% APY
  • Minimum deposit: $100
  • No welcome bonus
  • Member FDIC
Marcus by Goldman Sachs
  • 4.30% APY
  • Minimum deposit: $0
  • Welcome bonus: $100
  • Member FDIC
synchrony-bank-logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo Sofi
  • 4.50% APY
  • Minimum deposit: $0
  • Welcome bonus: $250
  • Member FDIC
Barclays Logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo capital One CDs
  • 4.30% APY
  • Minimum deposit: $0
  • Member FDIC
  • No welcome bonus
Discover logo
  • 4.30 APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC

Savings accounts calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

High Yield Money Market Investment Account calculator

High Yield Money Market Investment Account calculator

Your earnings:
Total Result:

Video best savings accounts

Here is a video we have created showcasing the best savings accounts in the United States:

Requirements

The requirements to open the High Yield Money Market Investment Account are as follows:

  • Reside in the United States.
  • Having a checking account with Comerica.
  • Be over 18 years of age.
  • Deposit more than $50.

Documents

The documents that Comerica may request from you are as follows:

  • Driver’s license.
  • Social security number.
  • Utility bill or invoice that demonstrates your current residence in the United States.

Pros and cons

Here is a table outlining the advantages and disadvantages of the High Yield Money Market Investment Account:

ProsCons
4.25% APY$50 minimum deposit
Limited ATMs and branches
High Yield Money Market Investment Account pros and cons

Interesting information about Comerica

We have created a table with relevant information about Comerica

InformationDescription
Websitehttps://www.comerica.com/
Facebookhttps://www.facebook.com/comerica
Twitterhttps://twitter.com/comericabank
Instagramhttps://www.instagram.com/comerica_bank/
Interesting information about Comerica

Other Comerica products

We’ve also provided a list of all the Comerica products we have analyzed:

Conclusions and opinions

Based on the analysis conducted, our opinion is that the Comerica High Yield Money Market Investment Account is not a competitive savings account option. Despite currently offering a promotional interest rate of 4.25% APY, it requires a minimum balance of $15,000 in the account and also mandates linking a checking account with Comerica.

To conclude, you have more related content about savings accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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