4.71% Money Market / 5.23% 12-Month CD

American Partners Bank is offering a 4.71% APY on their Personal Money Market Savings Account. The minimum to open the account and to receive this APY is $1K. No interest is earned if the balance falls below $1K, however, there are no monthly fees. The first order of checks is free, and ATM rebates are provided for up to 10 transactions per month.

The bank also has two nice CD deals: 5.23% APY 12-month CD and a 5.28% APY 18-month CD. The minimum deposit is $1K. The early withdrawal penalty for CDs with terms of 3 months to 18 months is 91 days of interest.

Account application must be printed and mailed. The accounts can be funded by mail or by wire transfer. ACH transfer doesn't seem to be an option.

American Partners Bank was formerly called Assurance Partners Bank. I first mentioned this bank last November 17. At that time the money market account had an APY of 4.08%. For comparison, UmbrellaBank's money market account had an APY of 4.15% at that time, and GMAC Bank was at 4.00% APY. So American Partners Bank does have a good track record with high rates. Their rating with Bankrate.com has fallen a bit since then from 4/5 stars (sound) to the current rating of 3/5 stars (performing).