DEFINITION of '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.

BREAKING DOWN 'Super NOW Account'

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.

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