Super NOW Account

Categories: Banking,

super negotiable order of withdrawal account. An account which is a combination of a negotiable order of withdrawal (NOW) account, and a money market account. This account typically has a lower interest rate than a money market account, but a higher interest rate than a NOW account. The specifics of these accounts, such as minimum balance or interest rate, differ depending upon the bank offering the account. Super NOW accounts do not have an interest rate ceiling.