Sovereign Bank’s savings account (Premier Money Market Savings Account) currently has an annual percentage yield of 1.50 percent.  Savings accounts on average have an interest rate of about one third Sovereign Bank’s interest rate.

Although the 1.50 percent savings account yield isn’t the highest around, the savings account interest rate and yield is guaranteed for three months. The minimum opening savings account balance is $10,000.

This savings account offer is only available in the following states, ME, VT, NH, CT, RI, MA, NY, NJ, PA, WV, MD, DE, and the District of Columbia.

Looking on online savings account rates? Search our online savings account interest rate tables for the best savings account rates. Best Savings Account Rates.

To qualify for the guaranteed high savings account yield of 1.50% for 3 months you must open a Premier Checking account (or another qualifying checking account listed below) and open a new Premier Money Market Savings account by March 13, 2010.

The bank savings account interest rate will apply for each day your balance is $10,000 to $499,999 and is guaranteed for 3 months from the date you open your account.

The savings bank account APY is only 0.55% when your money market savings account balance is less than $10,000. The savings account APY is 1.00% when your savings account money market balance is $500,000 or more.

When you open a Premier Checking account,  Sovereign Premier Checking, Business Owner Premier Checking, Interest Checking, or Partnership Checking account by March 13, 2010 and meet other qualifications you can receive a $150 cash checking bonus in your checking account. More details here: $150 checking account bonus.