Suntrust Advantage Money Market Account Promotion

Like the PNC money market special, this also isn't a good deal, but for those who want a money market account at a brick-and-mortar bank, you may not have better alternatives.

SunTrust Bank is guaranteeing for 3 months a 1.01% APY for balances of at least $10K. A checking account is required.

This was advertised in the 10/31/2010 edition of The Tampa Tribune. Click on the "details" link above to see the ad.

Of course the problem with this deal is that it's a teaser rate. Expect much lower rates after 3 months.

I noticed an ad for this SunTrust promotion today (12/05/2010), and the rate is now 1.20% APY for 3 months.

It's nice to see the rate actually went up. It's still not great, but for those who prefer to stick with a brick-and-mortar bank, it's a reasonable short-term deal.