super NOW account

Super NOW Account

An account created in 1982 that offers a higher interest rate than a NOW account but lower interest than a money market account.

Notes:

Specific requirements, such as minimum deposits and interest rates, for super NOW accounts vary between banks. This is due to the 1986 deregulation of bank deposit accounts. Today, banks can charge interest based on their costs and competitive requirements.

See also: Interest Rate, Money Market Account, NOW Account

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super NOW account

An interest-bearing checking account that pays a higher return and requires a higher minimum balance than a standard NOW account. These accounts have not gained much popularity.