Level One Bank officially opened on October 5, 2007 in Farmington Hills, Michigan.  Level One Bank offers personal and commercial banking services.  The bank has  several choices to accommodate personal banking needs from free checking accounts to high rates of interest on a number of FDIC insured deposit options, or great rates on home equity loans or lines of credit.  Options for personal deposit products include interest bearing checking accounts, money market accounts, CDs and savings accounts that offer great rates of return for your money.

Level One Bank checking accounts offer free ATM use at any ATM and the higher interest rate earned on the interest checking account helps account holders accumulate earnings faster.  With a minimum daily balance of $250, there is no monthly maintenance fee.  The checking account earns interest on all balances, has free online banking, bill pay and online statements, allows 6 free ATM transactions per month as well as free ATM usage anywhere in the US for accounts with average monthly balance over $2,000, unlimited check writing and telephone banking transactions and an overdraft protection option is available.

The interest checking rate is 2.00% APY

Level One Bank offers CDs for many terms, some with a minimum investment of just $500.  A penalty will be imposed for early withdrawal on the bank CD products.

Level One Bank certificate of deposit specials:

6 month CD rate is 1.25% APY
9 month CD rate is 2.45% APY
One year CD rate is 1.50% APY
Three year CD rate is 3.00% APY

The Level One Bank money market account is a high yield interest earning money market account.  The account offers tiered interest rates on balances where the higher the balance, the higher the interest rate earned.  The money market account comes with free internet banking and bill payment that allows users to check balances, transfer funds, pay bills, see monthly statements, download account information and view cleared checks.  There is a low minimum opening balance of $50, no monthly service charge with $2,000 minimum daily balance and no ATM fees for accounts with daily balance over $2000.  This money market account requires a deposit and loan relationship with Level One Bank.

Money market account rates and required balances needed:

$50,000 and above the money market account rate is 1.50% APY
$25,000 to $49,999.99 the account rate is 1.25% APY
$10,000 to $24,999.99 and the interest rate is 1.00% APY
$2,500 to $9,999.99 the money market rate drops to 0.50% APY
And for balances of $0 to $2,499.99 the rate is 0.25% APY
These money market rates apply for new money only.

Bank rates, bank CD rates, and annual percentage yields (APY) are accurate today only and are subject to change by the bank without notice.  Fees may reduce earnings on the accounts.  For current CD rates and bank rates, a bank representative can be reached at 888-880-5663.  The Level One Bank website posts current bank rate and bank CD rate specials along with additional account details, the bank website address is www.levelonebanking.com.

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