9 Best Money Market Account Rates
The money market account is a type of savings account which typically offers higher interest rates compared to traditional savings accounts. It is an ideal choice for individuals looking to get better returns on their money while maintaining easy access. With that in mind, let’s take a look at the 9 best money market account rates available today.
1. CIT Bank – Money Market Account: CIT Bank offers a competitive money market rate of 0.50% APY (Annual Percentage Yield). The account has a minimum opening deposit of $100, and it does not charge monthly fees.
2. Sallie Mae – High-Yield Savings: With a 0.65% APY, the Sallie Mae High-Yield Savings account is an excellent option for those seeking higher returns on their money. There is no minimum deposit required to open an account, and it also has no monthly maintenance fees.
3. Axos Bank – High Yield Money Market: Axos Bank provides their customers with a 0.60% APY on their high-yield money market accounts. The minimum opening deposit is $1,000, but there are no monthly fees associated with this account.
4. Discover Bank – Money Market Account: Discover Bank offers clients a 0.40% APY on their money market account, which requires an initial deposit of $2,500. There are no monthly fees or hidden charges with Discover Bank.
5. Quontic Bank – Money Market Account: Quontic Bank features a competitive money market rate of 0.60% APY, with the benefit of check-writing privileges in addition to an ATM card access. The bank requires a minimum deposit of $100 and does not impose any monthly fees.
6. UFB Direct – High Yield Money Market Savings Account: UFB Direct delivers an attractive 0.45% APY on its high-yield money market account. The minimum opening deposit is $5,000 and it charges no monthly fees.
7. TIAA Bank – Yield Pledge Money Market Account: This money market account offers a 0.40% APY, with the advantage of no monthly fees. TIAA Bank requires a minimum opening deposit of $500 for this account.
8. BMO Harris Bank – Platinum Money Market Account: BMO Harris Bank’s Platinum Money Market Account features an APY of 0.35%. The minimum opening deposit is $5,000 and there are no fees if you maintain a balance of more than $10,000.
9. Capital One – 360 Performance Savings: With a 0.40% APY, Capital One’s 360 Performance Savings account is an excellent option for individuals seeking attractive interest rates and excellent financial tools. There is no minimum deposit required to open an account, and it also lacks monthly maintenance fees.
In conclusion, these nine money market accounts offer some of the highest interest rates available in the market today. Depending on your financial situation and saving goals, you can choose the one that fits your needs best and ensure that your hard-earned money grows faster than with a conventional savings account.