Suburban Bank & Trust in Chicago Offers Money market Account with 3.75% Yield
The Suburban Bank & Trust in Chicago is offering a money market account that has a gain of 3.75% APY for balances up to $25000. The offer was published on local papers and is guaranteed by the bank until June 1, 2009.
The money market account must be opened using $25K new money by the end of December 2008. The MMA that yields 3.75% APY prerequisites a direct deposit capable personal checking and a consumer loan with the Suburban Bank & Trust. The consumer must also use online banking with e-statements. The yield drops to 3.5% if these conditions are not met.
The gains for the other tiers are 0.25% APY ( $3000-$10K) and 0.35% APY for balances ranging $10K-$25K. The bank charges $25 for balances below $3000.
To open the money market account, a bank visit is necessary. The bank has branches in Chicago and its suburbs.
BauerFinancial issued a 3.5-star review while bankrate.com gave its financial soundness a 4-star rating.
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