If you are from New Jersey, you can take advantage of the money in the bank deals offered by Investors Savings Bank at five of their local branches. These deals include the 2.00% APY money market rates for their Consumer Money Market Account. The current interest rate is guaranteed until December 2009 and good for balances of up to $2 million.

You need to open an account by October 31 so you can get these best money market rates since by 2010, they will go back to the tiered rates in effect today. New money is needed to open an account and this money market account just requires $500 initial deposit. This minimum balance will also save you from the $7.50 monthly service fee.

Investors Savings Bank does not feature this money market special on their website but they send them through mailers. One of our readers advised us about this deal.

The money market account deal with the very attractive interest rate of 2.00% APY is not available on all Investors’ branches. You can only get them when you open the new account in five of their branches in New Jersey. You can drop by in the following offices: Verona, Nutley, Clifton, Cedar Grove, and Bloomfield.

We learned that the five branches joining the promo are the offices recently acquired from American Bank.

Investors Savings Bank is also in the process of converting six branches they acquired from Banco Popular. These branches are in East Orange, Montclair, Newark, and Clifton. We do not have word yet if these new branches will do the same money market run but they will complete the conversion by October 19. If you are from these areas, better call the bank and ask since you will have a week to grab the good deal.

The bank also has branches in the New Jersey cites of Washington, Union, Springfield, Somerset, Jackson, Denville, Long Branch, Piscataway, and Irvington. You might be able to catch their attractive checking account bonuses from these branches.

Investors Savings Bank received excellent reviews from Bankrate.com and BauerFinancial. Both issued 4 stars for soundness and safety. The bank is insured with the FDIC through certificate number 28892.