Dedicated to Deposits: Deals, Data, and Discussion

2.50% Money Market Account at OceanFirst Bank in New Jersey - Local Only

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OceanFirst Bank is having a promotion on its BlueChip Investment Account with a 2.50% APY on balances of at least $15,000, and up to $500,000. The rate is guaranteed to August 1, 2009. The rate for balances under $15,000 is 0.50%, and a $25,000 minimum balance is required to avoid monthly fees. This special doesn't seem to be listed at the bank's website. A reader mentioned this promo in the comments, and I contacted the bank today for more details. According to the CSR, a branch visit is required.

More details about this BlueChip Investment Account are listed in the bank's Personal Savings Page. The account offers free checks and a Visa Check Card. It has unlimited check writing privileges; however, a minimum check amount of $250.00 is required. With this checking feature and name, it almost looks like a money market fund, but according to the bank this account is considered an FDIC-insured savings account.

Branches are located mostly in Ocean County and Monmouth County, New Jersey.

OceanFirst Bank has some strong ratings for safety and soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. The bank has been FDIC insured since 1938 (Certificate # 28359).

Thanks to the reader who mentioned this promotion in the Daily Deals & News Post.
  Tags: money market accounts, OceanFirst Bank, New Jersey

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