The best money market account rate is 4.85% APY at Brilliant Bank. That's more than seven times the FDIC's national average for money market accounts of 0.66% APY, and is just one of 15 or more top rates you can find in our rankings below. Money market accounts are similar to high-...
That means MMA deposits lose purchasing power over time as market prices rise. The recent rate of inflation (3.7% in September 2023) is higher than some MMA interest rates. "The biggest negative of these accounts is that they typically don't offer a high enough interest rate to keep up ...
Money market accountstypically earn a higher rate than traditional savings accounts. They also offer capabilities similar to a checking account which make them even more attractive. Due to current conditions, rates are on the rise – making them a good spot to store savings for short-term and m...
Money market accounts$25 minimum opening deposit, 2.01% APY; Accounts under $1,000 will incur a fee Share certificates$500 minimum opening deposit Term lengths from 6–60 months APY rates from 2.90%–4.65% Best money market account for digital banking: Quontic Bank ...
The average national deposit rate on money market accounts is 0.60% as of Nov. 18, 2024, according to the FDIC. However, it’s possible to find much higher interest rates. If you found a competitive money market account with a 5% APY, which some of our winners offer, you would see $...
Cons of money market accounts Many banks require a minimum deposit to open an account, and also have minimum balance requirements as well. Interest rates for money market accounts can be lower than those of high-yield savings accounts or CDs. ...
Where To Get The Best Interest Rates Find which banks have thebest savings account and money market accountswithhigh interest rates! Find the highest savings interest rates and open an account today. Update 12/4/24: We’ve updated our list with the latest bank rates. ...
Like a traditional savings account, money market accounts—also called money market deposit accounts or money market savings accounts—can help you grow your savings over time. “Money market accounts pay variable interest rates that can change at any time. Oftentimes, the larger the ...
High-yield checking accounts and money market accounts are not necessarily interchangeable, so you may want both, or neither. While yields for the very best checking accounts may outpace the best money market account rates, the rates are close enough that that may not ...
Your checking account plays a vital role in your personal finances, so it is important to choose the right one for your needs. We score more than 200 accounts on a range of factors, from annual percentage yield to account fees to ATM availability, to determine our Best Checking Accounts.See...