If you are from Alabama, there is an attractive local money in the bank deal being offered by Southern States Bank . They have a money market account which earns 1.95% APT for balances of at least $5,000.

You can open the money market account for $1,500. This is also the minimum balance to maintain if you want to avoid a monthly service fee of $10.

This money market account deal has a tiered structure. Remember that with money market accounts, the more funds you put into it, the more you will be earning. Like this one for Southern States, the interest rates are computed from the collected balance.

The account limits monthly withdrawals to six pre-authorized take outs. In-person withdrawals are unlimited. The bank charges $10 for every transaction you make over the per statement cycle limit.

Interested individuals can drop by one of their branches to open an account. Southern States Bank has branches in Anniston, Birmingham, and Opelika.

The website of the bank does not include their rates table and disclosure about fees which may affect your earnings. You can inquire about the details via email or by calling them at 256-241-1092.

It is a fairly young bank established in 2007 on a capital of $31 million. Southern States Bank is a member of the FDIC.