Piermont Bank Business High Yield Money Market
Piermont's Business High Yield Money Market pays 3.75% APY on $50,000+ with an open business checking account, with no minimum to open.
Rates verified October 17, 2026Open accountThe Bottom Line
- Monthly fee
- $25 (verified Oct 17, 2026). All rates and fees
Key facts
- 3.75% APY at $50,000+ with an open, funded business checking account; 3.25% without checking or from $20,000 to $50,000
- 0.75% APY below $20,000; $25 monthly fee waived at a $1,000 average monthly balance
- New customers only; rate stated as of 06/15/2026
Pros
- 3.75% APY at $50,000+ with business checking
- No minimum to open and no lockups
- Interest compounded and credited monthly, earning from day one
Cons
- The top rate needs both a $50,000 balance and an open, funded business checking account
- Below $20,000 the rate falls to 0.75%, and a $25 monthly fee applies under a $1,000 average balance
- New customers only; the rate shown is dated 06/15/2026 and can change
At a glance
Rates verified October 17, 2026- APY
- 3.75%
- APY note
- 3.75% APY for $50,000+ with an open, funded business checking account, effective 06/15/2026 per Piermont. 3.25% from $20,000 to below $50,000 or without business checking; 0.75% below $20,000. APY may change at any time.
- Monthly fee
- $25
- Monthly fee waiver
- Waived with a $1,000 minimum average monthly balance.
- Minimum to open
- None
- FDIC
- FDIC insured up to $250,000 per depositor for each account ownership category; IntraFi ICS available for more.
- Institution
- Piermont Bank
Source: piermontbank.com/campaignmma, read October 17, 2026
How this rate compares
10.1x
the FDIC national savings average of 0.37% (September 21, 2026). On a $10,000 balance that is about $338 more in a year.
Last verified October 17, 2026
We re-verify against the issuer's own page when we refresh this listing, and we stamp that date. We do not claim a daily check.
Versus named competitors
As of October 17, 2026, Piermont Bank Business High Yield Money Market posts 3.75% APY. The table below uses each competitor's own last-verified print, not a shared snapshot.
| Product | Headline APY | Term | Verified |
|---|---|---|---|
| Piermont Bank Business High Yield Money Market | 3.75% | variable | October 17, 2026 |
| Axos Bank Business Money Market | 0.20% | variable | October 17, 2026 |
APYs are variable and can change at any time. The FDIC national average is a floor for what an ordinary savings account pays, not a competitor. Named comparisons use each product's last issuer-page check.
What is Piermont Bank Business High Yield Money Market?
Piermont Bank's Business High Yield Money Market is a promotional-tier business money market account. The headline 3.75% APY applies to balances of $50,000 or more in the money market account when the business also has an open, funded business checking account at Piermont. Piermont lists the rate as effective 06/15/2026 and says APY may change at any time before or after an account is opened.
Other tiers: $20,000 to below $50,000 earns 3.25% APY, below $20,000 earns 0.75% APY, and a money market account without business checking earns 3.25% APY. There is no minimum to open. A $25.00 monthly fee is waived with a minimum average monthly balance of $1,000.
Interest is compounded and credited monthly on the daily collected balance, funds earn yield immediately after funding, and there are no lockups. Deposits are FDIC insured up to $250,000 per depositor for each account ownership category, with multi-million-dollar coverage available through separate enrollment in IntraFi's ICS product. The offer is for new customers only.
This is a fit for a business that can park $50,000 or more and will also run its checking at Piermont. Below $20,000 the 0.75% rate is not competitive.
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Piermont Bank Business High Yield Money Market FAQ
What APY does Piermont's business money market pay?
3.75% on balances of $50,000 or more with an open, funded business checking account, effective 06/15/2026. The rate is 3.25% from $20,000 to below $50,000 and for a money market without business checking, and 0.75% below $20,000.
Is there a minimum deposit to open?
No minimum to open.
What is the monthly fee?
$25.00, waived with a minimum average monthly balance of $1,000.
Is this account FDIC insured?
Yes, up to $250,000 per depositor for each account ownership category. Multi-million-dollar coverage is available through separate enrollment in IntraFi's ICS deposit product.
Who is eligible?
The offer is for new customers only.
Source: piermontbank.com