Comerica Money Market Investment Account

Do you want to see a comprehensive analysis of Comerica’s Money Market Investment Account? At Responsible Economy, we present all the features of the 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

In a savings account, the most crucial aspect is the interest rate, as we aim to save money while generating interest. The Money Market Investment Account offers a meager interest rate of 0.02% APY. It’s important to note that there are numerous banks in the United States offering rates exceeding 5% APY.

Fees

The Money Market Investment Account has a monthly fee of $12 unless you meet one of the following requirements:

  • $2,500 minimum Ledger Balance each day.
  • $5,000 average daily Ledger Balance.
  • You have a Comerica Platinum Circle Checking account.
  • You have a Premier Checking account and you have not selected a Statement Savings Account as your no-fee savings 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 Rate0.02% APY
Monthly Fee$12 (unless requirements met)
Requirements to Waive Fee$2,500 minimum Ledger Balance each day. $5,000 average daily Ledger Balance. You have a Comerica Platinum Circle Checking account. You have a Premier Checking account and you have not selected a Statement Savings Account as your no-fee savings account.
Minimum Initial Deposit$50
Comerica Money Market Investment Account features

Comparison with the best savings accounts

We have conducted a comparison of the 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:

Money Market Investment Account calculator

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 Money Market Investment Account are as follows:

  • Reside in the United States.
  • 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 Money Market Investment Account:

ProsCons
0.02% APY
$50 minimum deposit
Limited ATMs and branches
Comerica Statement Savings 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

After conducting our analysis, our opinion is that the Money Market Investment Account is not a competitive savings account option. It offers an interest rate of only 0.02% APY and comes with a monthly fee of $12 unless specific requirements are met. Additionally, a minimum deposit of $50 is required to open the account.

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

Updated the day 1 September, 2023 by Alfredo Barandiarán

¿De cuánta utilidad te ha parecido este contenido?

Haz click en una estrella para votar

Promedio de puntuación 0 / 5. Número de votos 0

Se el primero en dejar un comentario!

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.