One of the best money market rates you’ll find this month is at Brook Haven Bank . This account earns up to 1.35% APY for balances of $25,000 and above. Some of you might feel that the minimum balance is too steep, but with rates falling every day, a 1.35% annual percentage yield is fairly competitive even for this deposit requirement.

Make sure that you look for the Primetime Money Market account because the regular money market account earns a lower interest rate, although it also has a lower minimum balance requirement. Watch out for the monthly service charge of $10 too if you fail to meet the $25,000 daily balance requirement for this account.

Another downside to this account is that you need to pay another $10 for every withdrawal exceeding the allowable six stated by the federal law. Debit card and other third party transfer is also covered in this limit. The main office of Brook Haven is in Atlanta, Georgia, but because it is a national bank, a branch visit is unnecessary. You may apply online by contacting the bank through email at clientservices@brookhavenbank.com.

You can also talk to phone bankers through 404.633.2113 or fax them at 404.633.2115. For a young bank, the financial institution naturally has below average safety and soundness ratings. Bankrate.com gave them only two out of five stars while BauerFinancial.com gave them three out of five stars.  The Brook Haven Bank has been an FDIC member since 2007, and is federally insured through FDIC Certificate #58456.