The Bank of America is currently giving their best money market rate through a special money market savings account promo that gives 2.50% APY. This great money market deal in Texas guarantees the earnings of the account with balances of at least $10000 and max of $250K through June 30, 2009.

The money market account requires a new money deposit of at least $10K. The account holder must also be an owner of a small business that has a business checking account or should have a Private or Premier bank relationship.

This money market savings account is automatically converted into a Growth Money Market Saving Account after June 30. The program is offered exclusively to the Texas market and not in other states. This may be the reason why this was not posted on Bank of America’s website .

The 2.50% may not be the highest savings account rate in the market right now but it is very competitive compared to other online savings account.

The rate lock is also a nice feature that the consumers can take advantage of amid these times when rates can drop any time.

It will be best to call the bank to clarify the terms of the promo for this money market savings account program. The Advantage Checking imposes a $20 monthly fee depending on the balance requirements of the account.