Bank of America 1.50% Money Market Rates
This Bank of America 1.50% Money Market rates are no longer advertised as available in the Pennsylvania and Delaware areas on the home site of Bank of America. The reason may be because the Bank of America is a nationwide financial institution and has different rates in different parts of the country for some of their accounts. The 1.50% on Money Market Accounts was a promotional offer that is about to expire. For those investors that took advantage of this promotional rate, it is still valid but will expire on January 4, 2010. The highest current advertised rate is the bonus APY of 0.95% for accounts over $250,000. For accounts under $10,000 the bonus APY is 0.40%.
There are other financial institutions that are offering money market accounts at 1.50% APY or above. EverBank has a rate of 1.51% APY with a minimum deposit of $1,500. This rate was posted on December 24, 2009. Geddes Federal Savings and Loan Association has an APY of 2.01% and an interest rate of 1.99% with a deposit of $50,000. AmericaNet Bank is the best offer for those with limited funds. They have an APY of 2.00% with a minimum deposit of $1.00. This is their Mega Money Market Checking account and is valid for balances under $35,000. This rate was posted on December 29, 2009.
For those with the Bank of America 1.50% Money Market rates, the account will be changed to a Growth Money Market Account and your rate will be lowered on January 4, 2010 to 0.35% for balances between $10,000 and $24,999.99.