There’s a competitive money market account offered nationwide this month, and it’s from the Huntington Bank . This is called the Premier Plus Money Market account and it earns up to 1.20% APY.

It’s one of the best money market rates this month, considering how the national average is only 0.51% APY. Of course, other banks might have a money market rate that’s close to this one but with lower deposit ceilings.

One of the downsides of this account is that it requires a $20,000 minimum deposit to open the account, which may be pretty steep for most clients. However, there is no monthly fee, no minimum monthly balance (so you can actually spend your $20,000 once you’re opened the account, but earn a lower interest rate), and no fees for withdrawals exceeding the allowable of the federal law.

Most banks would ask for a $7 fee for deals of this stature. Just to give you an idea about your earnings monthly, if you maintain a balance of $20,000, you’re also bound to earn around $20 a month with this rate. A branch visit is unnecessary to open the account.

The bank’s website has tools for online applications. If you do decide to open an account in person, though, you may by visiting one of their branches in Ohio, Indiana, Michigan, and Pennsylvania. The bank’s financial shape is average. It only scored three out of five stars from both Bankrate.com and BauerFinancial.com. It is an FDIC member, though, and is federally insured under FDIC Certificate # 6560.