Dedicated to Deposits: Deals, Data, and Discussion

4.00% Money Market Account Guaranteed to 6/30/09 at Bank of the Carolinas

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Bank of the Carolinas
Bank of the Carolinas is offering 4.00% APY on its money market account on balances over $10,000. The especially nice feature is that the yield is guaranteed through June 30, 2009. There's a $5/month fee for balances under $1,000. The yield for balances under $10,000 is only 0.25% APY.

It appeared to require a branch visit, but since this deal was especially hot, I called to verify. Unfortunately, the CSR said new accounts do require you to come into a branch. According to the CSR, this promotion just started today, so it should last for awhile.

The bank also offers a reward checking account with a yield of 4.50% APY (see post).

Branches are located in the North Carolina cities of Winston-Salem, Mocksville, Lexington, Landis, King, Harrisburg, Concord, Cleveland, Asheboro and Advance.

The bank has a 3.5 star rating (good) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 1998 (FDIC Certificate # 34903).

  Tags: money market accounts, Bank of the Carolinas, North Carolina

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