Bank of America is offering 1.50% APY on balances from $10,000 to $250,000 on its Introductory Rate Money Market Savings. The rate is guaranteed through 1/04/2010, and at that time, the account will convert into BofA’s new Growth Money Market Savings account.

Also required for this rate is opening of a BofA personal checking account. Minimum balance to open this money market savings account is $10,000. The rate for balances that fall below $10,000 is 1.00% as of 8/21/09.

This special doesn’t seem to be listed at Bank of America’s website. There was an advertisement in the Dallas Morning News – available online here. I don’t know if this promo is available in all states. If you confirm it’s available in your state, please leave a comment.

BofA does describe the new Growth Money Market Savings Account on its website. The standard rates are low: 0.75% APY for balances up to $100K and 0.85% for over $100K.

There’s a bonus rate that’s 25 basis points higher (rates for TX as of 8/21/09 and may vary by state). This requires one of the following transactions during the month: 1) automatic transfer of $250 or more from your BofA checking account, 2) an automatic transfer of monthly interest payment from your Bank of America CD, or 3) a direct deposit of $250 ore more.

As you might expect with BofA, there are monthly fees. These can be avoided with a minimum balance of $5,000, or if you link the account to an Advantage with Tiered Interest Checking.

The account allows up to a total of 3 checks or purchases made with your debit card each monthly cycle. You can also use this account with the Keep the Change program.

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1. Hanmi Bank – Worry Free Money Market