Best Money Market Rates: M&T Bank Market Advantage Account Rate at 1.55%

One of the best money market account rates right now is from M&T Bank. The bank is promoting their Market Advantage account to celebrate 155 years of commitment to Buffalo, New York. The Market Advantage account earns a rate of 1.55% for three months.

This promotional rate applies to all balance tiers as long as you open a new personal M&T Market Advantage accounts opened with at least $10,000 minimum in new money, money not already deposited at the bank.

Market Advantage MMA Rate at M&T Bank

The 1.55% rate is an introductory rate for 3 months. Regular money market rates on the Market Advantage account is rather low at 0.05%, 0.10% or 0.15% depending on the account balance. When you combine the intro rate with the regular rate the annual percentage yield (APY) is from 0.43% or 0.51%  depending on the balance.

You can earn the 1.55% intro rate on accounts up to $1 million. If you have that much to invest the return is pretty decent considering jumbo money market rates aren't much higher than M&T Bank's regular MMA rate.