Saving money has always been an essential step toward financial security. But how we save today has evolved far beyond the basic passbook savings account. With interest rates fluctuating, inflation affecting everyday costs and more banks competing for deposits, consumers have choices that can significantly impact their long-term financial health.
From traditional savings accounts to certificates of deposit (CDs) and high-yield online products, each option comes with trade-offs in terms of access, yield and security. For Fort Worth residents, and, thanks to a full-suite of online banking tools, residents across Texas and the country, one of the most attractive choices comes from right here at home: Colonial Savings.
Colonial’s Personal Edge Premium Money Market account is built for savers who carry higher balances and want their money to work harder. With tiered interest rates that reward larger deposits and the flexibility to access funds when needed, this account combines security with opportunity.
A strong savings plan usually separates cash by purpose and time horizon. A money market account sits at the center of that plan, bridging everyday checking and time-bound savings like CDs.
When you put these tiers together, the picture becomes clearer: your checking account covers today’s expenses, CDs and retirement accounts take care of tomorrow and the money market account supports everything in between.
That middle layer, or the funds that stay safe, keep earning, and remain within reach, often makes the most significant difference. To see why, let’s take a closer look at what a money market account is and how it works.
A money market account is a deposit product offered by banks and credit unions that blends the safety of a savings account with some of the flexibility of a checking account. These accounts typically require a higher minimum balance than a traditional savings account. However, in return, they often provide a better interest rate.
While savings accounts are designed primarily to hold cash safely and provide modest interest, money market accounts lean toward higher earnings potential. Savings accounts usually have lower opening requirements, sometimes as little as $50 at Colonial, but the trade-off is a much lower annual percentage yield (APY).
Money market accounts, by contrast, reward those who maintain larger balances. They provide a middle ground between the low rates of savings accounts and the fixed, time-locked nature of CDs. This makes them attractive to customers who want a strong yield but also need access to their money without penalties.
Colonial offers several tiers of savings products, including traditional savings, certificates of deposit (CDs), and money market accounts. The money market options are built for customers who keep larger balances and want to benefit from higher interest rates.
Colonial’s lineup includes:
| Account Type | Minimum to Open | Balance Range | APY |
| Money Market | $2,500 | $10,000.00 or less | 0.05% |
| $10,000.01 to $25,000 | 0.62% | ||
| Above $25,000.01 | 0.10% | ||
| Premium Money Market | $25,000 | $25,000.00 or less | 0.05% |
| $25,000.01 to $75,000 | 0.62% | ||
| Above $75,000.01 | 0.62% | ||
| Personal Edge Premium MM | $25,000 | $50,000.00 or less | 0.62% |
| $50,000.01 to $250,000 | 3.17% | ||
| $250,001 or more | 4.07% |
This tiered approach allows Colonial to serve a wide range of savers, but the Personal Edge Premium Money Market clearly provides the highest potential for those with larger deposits.
The FDIC reported in October 2024 that the average national savings account rate was 0.45% for balances of $2,500. Money market accounts nationally averaged 0.61% for balances between $10,000 and $100,000.
That context makes the 3.17% to 4.07% APYs on Colonial’s Personal Edge Premium Money Market accounts well above both traditional savings and the national money market average. This differential translates into thousands of dollars in additional annual earnings for depositors maintaining larger balances than other common savings vehicles.
For example:
For households or individuals holding large amounts of liquid cash, the difference in returns can add up to thousands of dollars each year.
Across the country, online banks sometimes advertise high-yield savings or money market accounts, but many impose strict activity rules or cap rates after certain balance thresholds. Closer to home, many North Texas brick-and-mortar banks remain in the 0.50% to 1.00% APY range for money market accounts.
Colonial’s Personal Edge Premium Money Market stands out because it ties higher rates directly to higher balances without promotional conditions. For Fort Worth residents who prefer the convenience of local banking but want yields that compare favorably with national options, this account bridges both priorities.
Within Colonial’s own lineup, the Personal Edge Premium Money Market fills a unique role.
By contrast, the Personal Edge Premium Money Market combines the liquidity of savings with returns that can exceed even short-term CDs. For balances over $50,000, it provides a blend of access and yield that few other accounts, inside or outside Colonial, can match.
Liquidity is often overlooked when evaluating savings accounts, but it can make all the difference. A money market account gives you the ability to access your funds quickly without paying penalties, which means you can handle life’s surprises and opportunities with confidence.
Here are some situations where liquidity matters:
Keeping money in a liquid account such as Colonial’s Personal Edge Premium Money Market allows savers to balance growth with flexibility. Unlike CDs, a money market account provides a cushion that can be used when life calls for it, while still earning significantly more than a standard savings account.
The Personal Edge Premium Money Market is not for everyone. It’s best suited for those who maintain higher balances and want to earn substantial interest without sacrificing access. Let’s look at groups who may benefit most:
Retirees often shift from growth-focused investments to income-producing accounts. With a Personal Edge Premium Money Market, they can keep part of their nest egg liquid while earning thousands annually in interest. This can supplement retirement income without dipping into principal.
Doctors, attorneys, consultants and contractors often face variable income cycles. Keeping large balances in a high-yield money market account ensures that when cash is waiting to be used, it earns meaningful returns rather than sitting idle.
Selling a home can free up hundreds of thousands of dollars for a short period. Rather than holding those funds in a low-yield account, families can place them in a Personal Edge Premium Money Market, where they grow until needed for the next down payment.
Some households maintain high balances for security. Whether from an inheritance, business sale or accumulated savings, the Personal Edge Premium Money Market rewards those who consistently keep deposits above $50,000, making their financial safety net more productive.
With a few simple habits, you can get the most from your Personal Edge Premium Money Market account:
Together, these steps ensure your account does quiet, consistent work in the background. At the same time, you stay focused on your larger financial goals.
For Fort Worth residents who want to keep their money safe, accessible and productive, Colonial’s Personal Edge Premium Money Market is a compelling choice. It rewards higher balances with some of the strongest rates in the region, combines convenience with security and supports local customers through Colonial’s community banking approach.
Take the next step in growing your savings with Colonial. Open a Personal Edge Premium Money Market account today and start turning your cash reserves into meaningful earnings. Visit your nearest Colonial Banking Center in North Central Texas or contact us today to get started.
