Your Guide To High Interest Rate Money Market Accounts.

These National and On-Line Banks pay good interest on their Money Market Accounts. With the current state of the economy many are looking for a safe way to grow their money. With most people still apprehensive of the stock market where can you safely put your money and still get a return on investment. If you want your money to grow, sticking your money under the mattress or in the cookie jar won't help. So what to do. Instead, make your money grow risk-free in a money market account or savings account. Here is a look at some of the highest Annual Percentage Yield (APY) offerings from a few select national and online banks. It will be interesting to see how these rates change as the years go by.

National Banks

Citi Bank
Account Name: Money Market Plus
Interest Rates:
2.5% APY on $25,000 and over;
1.01% APY on $10,000 to $25,000.
How To Open Account: A minimum opening deposit of $100 and a checking account. For balances of less than $25,000
Account Costs: The Money Market Plus itself is not subject to maintenance fees, although fees may be applicable on the required checking account if the minimum balances for that account is not met.

Bank of America
Account Name: Select Money Market Savings Account
Interest Rate:
1.2% APY on balances $25,000 and over
1.0% APY up to $24,999 .
How To Open Account: You must have a $25 minimum opening deposit.
Account Costs: If you do not meet the minimum daily balance requirement of $5,000, Select Money Market Savings Accounts are subject to a $15 monthly maintenance fee. There is also a limit of six withdrawals and/or transfers each month, with no more than three by check or debit card.

Sovereign Bank
Account Name: Money Market Savings
Interest Rate:
1.75% APY on $75,000 or more
1.5% APY on $25,000 to $74,999
1.10% APY on $10,000 to $24,999
0.70% APY on $1 to $9,999.
How To Open Account: Money Market Savings accounts require an opening deposit of $10 and a minimum daily balance of $2,000 to avoid the monthly maintenance fee.
Account Costs: If you do not meet the minimum daily balance requirement, the account is subject to a $5 monthly maintenance fee. There is also a limit of six withdrawals and/or transfers each month, with no more than three by check or debit card.

TD Banknorth
Account Name: Elite Savings
Interest Rate:
2.25% APY on balances over $100,000
1.25% on $50,000 to $99,999.99
0.75% on $10,000 to $24,999.99.
How To Open Account: There is no minimum opening deposit. A $10,000 minimum daily balance is required. For those with $10,000 to $24,999.99, The Prime Savings account offers the best rate, with a 1.625% APY.
Account Costs: If you do not meet the minimum daily balance requirement, Elite Savings accounts are subject to a $12 monthly maintenance fee.

Citizens Bank
Account Name: Circle Gold Money Market
Interest Rates:
1.85% APY on balances $50,000 and over
1.75% APY on $25,000 to $49,999
1.35% APY on $10,000 to $24,999
1.00% APY on $9,999.99 and under.
How To Open Account: A Circle Gold Checking account is required, and there is a minimum balance to open of $2,500. A maximum of three checks a month can be written against this account.
Account Cost: There is no monthly fee on this account; however, the Circle Gold Checking requires a $20,000 combined balance to avoid a $20 monthly fee.

On-Line or Internet Banks

ING Direct
Account Name: Electric Orange Savings Accounts
Interest Rates:
1.65% APY on balances of $100,000.00 or more
1.60% APY on $50,000.00 to $99,999.99
0.25% on balances less than $49,999.99.
How To Open Account : A checking account at any US-chartered bank. There are no balance requirements.
Account Ccosts: Orange Savings Accounts are not subject to any fees. This is a completely paperless account - you make payments and receive statements electronically.

Countrywide Bank
Account Name: SavingsLink account
Interest Rate: 1.65% APY.
How to Open Account: There is a required minimum opening deposit of $1,000.
Account Cost: There are free next business day transfers between a SavingsLink account and linked external accounts. Up to five external accounts can be linked.

HSBC Direct
Account Name: Online Savings Accounts
Interest Rate: 1.65% APY.
How To Open Account: You only need a $1 minimum opening deposit and a checking account at a US bank. There are no minimum balance requirements.
Account Cost: There are no monthly fees. You can connect the account to as many checking accounts as you like. You can also make deposits and withdrawals at any HSBC ATM in the US.

E*Trade
Account Name: Complete Savings Accounts
Interested Rate: 1.20% APY.
How to Open Account: You only need a $1 minimum opening deposit. There are no minimum balance requirements.
Account Cost: There are no monthly fees. There is a $10 early closeout fee if the account is closed out within the first 120 days of opening.