Money Market Account

There's a simple way to enhance your savings strategy 

Lean into an attractive combination of higher earnings and total security with our Money Markets 

Easy to start
Open a Money Market Account¹ with as little as $100.
Reach for your magic number
You'll start earning interest when your balance reaches $2,500. There is a 30-day grace period to get to the $2,500 balance.
Watch your savings grow
With tiered interest rates, larger balances can earn interest at higher rates.
Stay in full control
Make unlimited deposits and access your funds anytime.

A safer savings alternative

A Money Market Account is like a higher-earning savings account that pays interest on a regular basis. Because funds are safe, secure and accessible anytime, these accounts are popular when you want to build an emergency fund, save for a specific purchase or balance your portfolio without taking on investment risks.

  • Unlimited in-person withdrawals and transfers
  • Overdraft Transfer available
  • Wire Transfer Service available
  • Money Market deposits up to $250,000 insured by Federal Deposit Insurance Corporation (FDIC)


For contact information, including phone numbers, email addresses, and online inquiries, please visit our "Contact Us" page. You can also call us at (833.275.2228), or visit us at one of our locations. To find a location click here.

Watch your savings grow.

Premium Money Market Account
Checking your way

Get checking account options, all with convenient digital tools.

1 Interest rate and annual percentage yield may change. At our discretion, we may change the interest rate daily. Fees may reduce earnings. (This includes transfers for overdraft or insufficient funds transfers)

2 Rates subject to change. The Annual Percentage Yield (APY) and balance for Carter Bank Premium Money Market Account are accurate as of 5.22.2023. APY is variable and subject to change based on the balance in the account; $0-$2,499.99 at 0.00% / $2,500-$24,999.99 at 0.26% / $25,000-$49,999.99 at 3.26% / $50,000-$99,999.99 at 3.37% / $100,000-$499,999.99 at 3.46% / $500,000-$999,999.99 at 3.56% / $1,000,000 and above at 4.01%. To earn the advertised APY, the minimum balance must be $25,000.00. Charges and fees may reduce earnings. Premium Money Market Account is available for personal and business customers. $2,500 minimum balance to avoid fees. 30 day grace period to get to minimum balance.
See Fee Schedule for more details.

3 Initial Annual Percentage Yield (APY) assumes, principal and interest remain on deposit until maturity. Interest is compounded daily and credited quarterly. To earn APY, the minimum balance must be $100.00. A penalty for early withdrawal will be imposed. Fees may reduce earnings. Annual Percentage Yield (APY) is accurate as of 12.15.23. Penalties for early withdrawals: For maturities of less than one year, a 30-day interest penalty will be assessed. For maturities of one year or more, a 90-day interest penalty will be assessed.

All promotional offers, products and services offered by Carter Bank are subject to updates, modifications and/or termination at any time.

4 Christmas Club Disclosure APY = Annual Percentage Yield. Maximum deposit is $5,000 per customer.The daily balance method is used to calculate the account interest. This method applies a daily periodic rate to the principal ledger balance in the account each day. Unlimited deposits up to the $5,000 maximum deposit limit.  No withdrawals without closing the account.  If account is closed before interest is credited interest will be forfeited.   $15.00 early closeout fee if account is closed within 90 days of account opening. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate daily. Fees may reduce earnings.

Carter Bank is a full-service financial institution with locations throughout Virginia and North Carolina.