Liberty Federal Savings and Loan Association is pushing for the best interest rate money market account called Money Market Passbook. This money market account is tiered and has the following current interest rates:

• $2,500 to $24,999         0.65% APY
• $25,000 and above        1.01% APY

The bank requires you to make an initial deposit of at least $2,500 to open an account. This amount must be maintained or you must at least have a higher deposit to earn this best money market rate and avoid any monthly service fee. You will also receive a passbook in order to track your transactions. Aside from this money in the bank opportunity, another money market account being offered by the bank is their Money Market Checking which is also tiered and has the following interest rates:

• $2,500 to $24,999          0.65% APY
• $25,000 and above         1.01% APY

For this money market account, the opening deposit is also $2,500. You must have a daily balance of $2,500 or higher to obtain the interest rates and also to avoid the monthly service charge. This best money market deal limits you to up to 3 checks per month. You are also limited up to 6 third party transfers per month. In case you exceed, expect that there will be fees applied per transaction.

A branch visit is needed in order to open an account. The bank has branches located in the cities of Bel-Air and Baltimore in the state of Maryland. Take note that once account is opened the interest rate may change, so make to contact the bank first and ask for their latest money market rate. You may call their customer service line at 410-752-3070.

Liberty Federal Savings and Loan Association has been in business since 1885. The is also a member of the Federal Deposit Insurance Corporation which has a certificate number of 29945.