4.31% Money Market Account Through 8/8/2008 and $80 Bonus at an Illinois Bank (Elk Grove)

Elk Grove Bank & Trust is the first institution that I've seen to be offering a 2008 Olympic related special. It requires that you open both their Olympic Money Market and Savings Accounts. Here are the details:

• Money market account must be opened with a minimum $800
• The yield is 4.31% APY on balances over $800 and is guaranteed through 8/8/2008
• Must also open a savings account with a minimum $800
• Savings account yield is 1.88% on balances over $800 and is guaranteed through 8/8/2008
• $80 Visa Gift Card is awarded after you are enrolled in online banking and one direct deposit posts into the savings account
• Both accounts require $800 minimum to avoid service charges

The bank also has special 12-month CD with a yield of 4.00% APY. The minimum deposit is $2,500.

It appears that the bank requires a branch visit to open accounts. The office is located in Elk Grove Village, Illinois which is in the suburbs of Chicago. The bank is a division of Advantage National Bank which is a member FDIC (Charter # 57103).

Thanks to the reader who mentioned this special in the finding-the-best-deals post.

Tags: Illinois, CD rates, savings account, Elk Grove Village Bank & Trust