GMAC Bank is offering a high 5.30% APY on their money market account for balances over $500. Balances under $500 yield 5.19% APY. $50 is required to open the account, and you must maintain an average daily balance of $500 to avoid monthly service fees. Interest is compounded daily, and rates are variable.

Here are some additional features of the GMAC money market savings account:

• Limited check writing - first 50 checks are free.
• ATM card - First 4 fees per statement cycle up to a total of $6, will be refunded by GMAC Bank
• ACH transfer system
• No hard credit pull in application

Money Market accounts (MMA) are a great way to earn a high return on your deposits while maintaining a degree of liquidity, unlike CDs.

For more information, visit their website at www.GMACBank.com, email GMAC bank customer support at customercare@gmacbank.com, or call their customer service hotline at 1-866-2GMBANK.