5% Money Market Account ($25K+) at a Massachusetts Bank

Benjamin Franklin Bank is offering 5.00% APY on its money market account. This rate requires a balance of over $25K and is guaranteed until May 31, 2006. It also requires new money and a checking account with direct deposit or a $50 minimum monthly transfer from an existing Ben's checking account into the money market account. Below are the full list of rate tiers:

Balance              APY
$10.00-$24,999.99    1.10%
$25,000-$999,999.99  5.00%
$1,000,000+Above     2.02%

The bank has 9 branches in Massachusetts. Credit for this find goes to this SlickDeals thread.

This is the second 5% MMA that I've come across. Last week I posted on Independence National Bank's 5% MMA. In this case the 5% required $100K balance and was guaranteed through May 16, 2006. For very large balances of over $500K, Hillcrest Bank is offering 5.09% on its Index Money Market account.

Which bank will be the first to offer a no-minimum savings account at 5%? My guess is that EmigrantDirect will do another big bump-up in the next month and will be the first.