4.88% Money Market Account ($50K min)

Ravenswood Bank of Illinois has a money market account called the Investors Money Market which currently pays 4.88% APY. The rate equals the 13-week Treasury plus 0.25%. This APY requires a $50K balance. Balances below $50K will earn at the rate of the Individual Statement Savings Account. Balances under $2.5K result in a $25 monthly fee.

Credit for this find goes to Victor who posted this deal in the finding deals post. Thanks! This account is not advertised at the bank's website.

The Investors Money Market Account has some additional transaction limitations over the typical money market account. Here are the details that Victor receivied from the bank:

TRANSACTION LIMITATION - One withdrawal per calendar month are allowed at no charge. There is a charge of $25.00 per withdrawal for each withdrawal in excess.
There is a $50.00 fee assessed on the account for the first 90 days closure. Balances over $500,000.00 will be paid at the rate of the Individual Statement Savings Account.

Ravenswood is a small bank located in Chicago, Illinois. It has a BauerFinancial rating of 4 out of 5 stars (excellent).