Available nationwide, Merrill Preferred Deposit account is offering 3.92% APY on your funds with a minimum opening deposit of $100,000.
Update 11/11/24: The rate has decreased to 3.92% APY from 4.18%. For more competitive rates, we highly recommend our top choice savings account at Western Alliance Bank.
| Balance Requirement | APY Rate |
| $100,000+ | 3.92% APY |
*see current rates here.
Merrill Preferred Deposit Rate
- Account Type: Preferred Deposit
- Interest Rate: 3.92% APY
- Availability: Nationwide
- Minimum Balance: $100,000
- Maximum Balance: None listed
- Credit inquiry: Unknown
- Opening Deposit: $100,000
- Monthly Fees: None listed
- Early Termination Fee: None listed
(FDIC Insured)
Merrill Preferred Deposit ACH Capabilities and Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | |
| Pull | ? | ? | ? |
How to Earn Merrill Preferred Deposit Rate
- Open a new account with a minimum opening deposit of $100,000.
- Earn 3.92% APY.
Why You Should Sign Up For This Account
- Competitive yield. Your money will be placed into a deposit account with Bank of America N.A., to help you optimize the cash you may need for your goals.
- Security. As a bank deposit product, Preferred Deposit balances are insured by the Federal Deposit Insurance Corporation (FDIC), up to applicable limits.
- Convenience. You will have ready access to funds — through your Merrill advisor or MyMerrill — so you can use the money to pay for personal expenses or take advantage of other opportunities.
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Bottom Line
If you’re a Merrill client looking to open an interest bearing account, here’s an account to consider if you have $100K+ you’re looking to deposit.
Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
For more bank offers, see the complete list of Best Bank Rates!
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I was shocked to find my APY was reduced on my September Merrill statement. I then found out that the rate had gone to 4.18%. My statement had 4.56%. I came to the conclusion that the change came somewhere in the middle of the month. Can anyone tell me the effective date of the change?
I thank you.
You can withdraw at your liesure. It does require a trade transaction but money is available in seconds. You can go below the initial investment without issue.
Open with $100k, then can withdraw down to $1000. It’s a non sweep account so have to “put in an order” for transfer or withdrawal. I’m told it’s pretty fluid between ML and BofA, but haven’t tried.
250 per person so if you have joint own then it is 500K FDIC backed.
Yes, once opened with 100k then you can withdraw any amount and it will still earn the same APY
Hi Mike.
What is the limit to deposit for individual and join owner for preferred deposit account. Couldn’t found any detail online. Is it recommended to deposit more than FDIC limit? Pls suggest
Can I start with 100k and then say withdraw 10k (so remaining balance is 90k). Will this still earn the APY ?
No restrictions. I think you just have to keep 100,000
Hi,
How much money can we withdraw from preferred Merrill account per day? any limit per week?