Demand Deposit Marketplace

Magyar Bank is pleased to offer Demand Deposit Marketplace (DDM), an automated, daily sweep service that enables Magyar to provide customers with expanded levels of FDIC insurance.

• DDM is a liquid FDIC insured alternative to money market mutual funds. It enables investors to obtain millions of dollars of FDIC insurance with daily liquidity and potentially higher returns.
• Joint accounts receive up to $100 million in FDIC and all other account types receive up to $50 million. However, individuals in different account types may receive higher amounts.
• Proved the safety and explicit guarantee of FDIC insurance that money funds do not offer.
• Eliminate market risks associated with money fund investing.
• Currently offers a yield advantage to money funds.
• While deposits may be allocated to deposit accounts held at several program banks, your cash is accessible on a daily basis.

For more information, or to speak with a Magyar Bank representative to see if DDM is right for you, call 1-888-990-2265.

Visit any Magyar Bank location, call 1-888-990-BANK or complete our contact form for more information and to open your account.