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6.00% 6-Month Money Market Promotion at American Bank of New Jersey - Update

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American Bank of New Jersey is having another new branch special in which they're offering 6% APY on a money market account for up to 6 months for balances between $50K and $100K. It must be opened in person at their new Clifton, New Jersey branch. The 6% is guaranteed for 3 months without any additional requirements. Opening a free checking account extends it for another 30 days. Another 30 days can be added for both Direct Deposit and for online bill pay. The rate for balances between $10K and $50K is 5.25% APY. The rate for balances between $2.5K and $10K is 4.50% APY. A $25 service fee applies for any month in which your balance falls below $2.5K.

A reader mentioned being told by the bank rep that this money market special is scheduled to continue until 10/31/07.

There's also a 5.50% APY 6-month CD special that's listed on the website. A minimum deposit is $500, and it requires a checking account. Without a checking account the rate falls to 5.40% APY.

There was a similar promotion at another one of the bank's new branches in July.

The Clifton branch is located on 500 Clifton Avenue, Clifton, New Jersey 07011. The phone number is (973) 798-6250. The bank is FDIC insured (FDIC Certificate # 30617).

Thanks to the reader who mentioned this money market special.

  Tags: CD rates, New Jersey

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Comments
4 Comments.
Comment #1 by Traphael (anonymous) posted on
Traphael
I found out that when I signed up for the MMA with a free checking account they have 2 bonuses on the checking account also:

1. $150 Instant Bonus with recurring direct deposit in 60 days after acct opening
2. $100 Best Buy gift card for activating bill pay and paying 2 bills in 60 days after acct opening.

Also you extend the 3 month 6% intro rate by 3 months to a total of 6 months. Pretty good deal!

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info. Those checking account bonuses do seem to be a great deal. Do you know if these are scheduled to end on the 31st also?

1
Comment #3 by traphael (anonymous) posted on
traphael
The checking account bonuses are good from 10/22/07 to 11/22/07.

1
Comment #4 by money market deals (anonymous) posted on
money market deals
Money market deals for who

1