Investors Savings Bank headquartered in New Jersey offers a special money market deal for consumers who want to open new accounts with two of their NJ branches. This money in the bank deal is not listed on their website but was recently published in the Bergen Record Newspaper.

We called the bank for details. The CSR informed as that these money market specials can be availed through their Clifton branches. You can call their branch along Main Ave or Botany Village Square East through 973-253-8021 or 973-478-6352.

The best money market rate of 2.00% APY can be enjoyed if you open an account with a minimum deposit of $500. This requires a checking deposit that needs at least $300 to be injected into it. If you do not want to open the checking account, you can get a money market rate of 1.75% which is still very competitive.

They also have another account for this grand opening which requires a direct deposit and checking account. You cannot do both promos according to the bank’s representative. This second special promo was similar to the ones they ran last September 2009.

Investors Bank has branches spread across New Jersey. They have offices in Washington, Union, Springfield, Somerset, Jackson, Denville, Long Branch, Piscataway, and Irvington.

The bank has some mixed ratings for soundness and safety. Banrkate.com issued only 2 stars for a below peer performance while BauerFinancial issued 4 stars which tag them as doing excellent. These are based on their September and December 2009 collected data.