3.75% Money Market Account Guaranteed through 6/1/09 at Suburban Bank & Trust in Chicago

Suburban Bank & Trust has as money market account promotion with a 3.75% APY on balances over $25,000. The yield is guaranteed through 6/01/2009. This special doesn't seem to be listed on the bank's website. It was advertised on 12/11 in the My Suburban Life newspaper. The ad is available online here.

Some important small print of the ad:

• Must be opened by December 31, 2008 with $25K of new money
• 3.75% APY requires a SBT personal checking account with direct deposit or an active SBT consumer loan
• Also required is online banking with electronic statements
• Without above requirements, an APY of 3.50% applies to balances over $25K
• APY for balances under $25K: 0.25% $3K-$10K, 0.35% $10K-$25K
• $25 minimum balance fee for balances under $3K

A branch visit appears to be required to open an account. Branches are located in Chicago and throughout the Chicago suburbs.

The bank has some good ratings for soundness: 3.5 stars (good) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 9/30/08 data. The bank has been FDIC insured since 1971 (FDIC Certificate # 20443).

Tags: Suburban Bank and Trust, money market accounts, Illinois