5.00% Money Market Account Guaranteed through June 2008 at a Texas Bank (Opportunity)

Opportunity Bank, N.A. is advertising a 5.00% APY money market account that's guaranteed to remain at 5% APY through June 30, 2008. The minimum deposit is $2,500, and the maximum deposit is $250,000. A Free Checking Account is required to receive the 5% money market rate. Accounts must be opened by September 14, 2007.

This special is not listed at the bank's website. It has been advertised in the Dallas Morning News. The ad is available online here.

Not only is 5% a competitive money market rate for brick-and-mortar banks, but the guarantee of 5% through the first half of next year might be particularly useful if the Fed starts lowering rates in the coming months. The bank is very new so they don't have any info on their website about fees that could make this deal less attractive.

The bank is located in Richardson, TX at 955 E. Campbell Rd., Ste. 500. Phone number is 469-385-2800. The bank was just established in June. It is FDIC insured (FDIC Certificate # 58567).

Tags: Texas, Opportunity Bank, N.A.