More Info on interState Net Bank's 5% Money Market Account

As I posted on May 3rd, interSTATE Net Bank is offering a 5% APY money market account on balances of over $10K. With high yield money market accounts, you want to make sure that the high rate is not just a temporary promotion. interState Net Bank just started advertising that this 5% is guaranteed through December 31, 2006. The only concern is that by the second half of this year, 5% may not be that great for a money market account. As I mentioned in the previous post, the previous yield on this account was 4% which had remained from last November through April. So it's likely this 5% won't increase any time soon.

The good features of this money market account include: first 200 checks free and ATM/Debit card. The negatives include a $2.5K minimum to open, low rates on balances below $10K, $10/month fee for balances under $2.5K and a $3/month fee on internet banking for balances under $2.5K.