Georgia residents can take advantage of competitive money market rates at Georgia Primary Bank. There is no minimum required to open a money market, but there is a $10 monthly maintenance fee if the balance is under $2,500.

The following money market rates (valid as of Feb. 5, 2010) apply to personal accounts:

• 1.45% APY on balances below $10,000
• 1.45% APY on balances of $10,000 to $24,999
• 1.65% APY on balances of $25,000 to $49,999
• 1.95% APY on balances of $50,000 to $99,999
• 2.3% APY on balances of $100,000 and up

Commercial money markets have the following rates:

• 1.25% APY on balances below $10,000
• 1.25% APY on balances of $10,000 to $24,999
• 1.5% APY on balances of $25,000 to $49,999
• 1.75% APY on balances of $50,000 to $99,999
• 2% APY on balances of $100,000 and up

 Visa card comes with the money market. You get free online banking and six withdrawals each month with a money market account. You also pay $3 for each additional withdrawal. Georgia Primary Bank money markets also waive up to six ATM surcharges each month.

If you close a money market within 90 days of opening it you pay a $10 fee. Other fees on money market accounts include $5 for accounts that are dormant after 12 months, $35 for overdrafts, $10 for returned deposits, and $5 for interim or duplicate statements.

Georgia Primary Bank is based in Atlanta.

Residents of certain states can take advantage of a checking account deal at Sovereign Bank that offers a cash bonus. The bank deal requires you to open a Premier Checking Account and Premier Money Market account to qualify for a $150 cash bonus.

Details of the checking account offer include:

• $100 minimum deposit
• Must enroll in free online banking when opening account
• Set up and receive one direct deposit within 60 days of opening account
• Use a Sovereign Debit Card for five purchases within 60 days of opening checking account
• $150 bonus deposited to your account within 75 days once requirements are met

Sovereign Bank doesn’t charge a fee to use ATMs at other banks. However, a fee may be imposed by non-Sovereign Bank ATMs.

The money market account offers a 1.5% annual percentage yield (APY) for three months for balances between $10,000 and $499,999. The money market also has no monthly fee or minimum balance requirement as long as you have a Premier Checking Account.

You must be a resident of Maine, Vermont, New Hampshire, Connecticut, Rhode Island, Massachusetts, New York, New Jersey, Pennsylvania, West Virginia, Maryland, Delaware, or the District of Columbia. New money market and checking accounts must be opened by March 13 to qualify for the $150 bonus and 1.5% APY.

EverBank has a high yield money market account with a 1.51% annual percentage yield (APY) for the first year. The Yield Pledge Money Market has a bonus rate of 2.25% for three months for first-time account holders.

The bonus money market rate applies to balances up to $50,000. Balances above that amount earn the variable ongoing money market rate, which was 1.25% as of Feb. 4, 2010. The bank is required by law to disclose the blended APY, which combines the bonus and ongoing interest rates for an estimated new account first-year APY. The new account first-year APY for balances from $50,001 to $10,000,000 is basically a range between 1.26% and 1.51%.

Other details of the money market account include:

• Minimum opening deposit of $1,500
• $8.95 monthly fee if average monthly balance falls below $5,000
• Only six transfers or withdrawals each month to avoid a fee
• Free online and mobile banking
• Free at-home check deposits

You can also combine the high yield money market with a high interest checking account. The FreeNet Checking Account requires a minimum opening deposit of $1,500 but there is no minimum balance to earn interest. The checking account has a first-year APY of 1.46% for balances between $50,000 and $100,000, and a three-month bonus rate of 2.25%.

Maintain a checking balance of at least $5,000 to avoid a monthly fee of $8.95. You also can write an unlimited number of checks.

Large, national banks are not the only places to find competitive savings rates. Many savers are turning to local banks to find some of the best savings accounts.

Geddes Federal Savings and Loan Association, which serves the Central New York area, has a 2% annual percentage yield (APY) on money market account balances of $50,000 and up. Balances between $1,000 and $49,999 earn a money market rate of 1% APY. Money market accounts must have a minimum of $25 to earn interest.

Geddes Federal Savings and Loan Association also offers certificates of deposit (CDs) with competitive rates. CD rates include:

• 1.3% APY for 4 months
• 1.55% APY for  9 months
• 1.65% for 12 months
• 1.7% APY for 18 months
• 2.15% APY for 24 months
• 2.45% APY for 36 months
• 2.65% for 48 months
• 3% APY for 60 months

The bank also offers other CD rate terms. To earn the best CD rates, a CD must have a $500 minimum balance. Withdrawing money early results in a penalty.

The bank also offers CD rates for IRAs. Those CD rates include 2.15% APY for 12 months, 2.65% APY for 24 months, and 3.5% APY for 60 months. The bank offers other CD rates and terms for IRAs. The IRA CDs require a $500 minimum deposit.

Geddes Federal Savings and Loan has one office just outside of Syracuse, N.Y. The bank has been in business since 1949. The bank does not offer mortgages and services all of its accounts in-house.

Redneck Bank has more than a colorful name. It has a couple of competitive bank deals for money market and checking account customers.

The bank offers a Mega Money Market account with a 2% annual percentage yield (APY). Details of the offer include:

• No minimum balance required
• No monthly maintenance fee
• 2% APY on balances up to $35,000
• 1% APY on amounts over $35,000

The money market account also allows six free withdrawals each month. There is a $5 fee for each additional withdrawal.

The money market also comes with a free Visa CheckCard and free online banking. You can also sign up for overdraft services.

The Rewards Checking is a free account. Redneck Bank is currently offering checking customers a 4% APY for balances up to $10,000 and 1% APY on amounts over that. Details of the checking account include:

• No minimum balance
• Must receive statements electronically
• Must make 10 sales transactions with Visa CheckCard each month
• Free daily notification if you overdraw account
• Free online banking and customer service
• Overdraft protection available

Redneck Bank is an online bank that is owned by the Bank of the Wichitas, which has been in business since 1913. The bank is based in Snyder, OK. Accounts are insured by the Federal Deposit Insurance Corp (FDIC).