Some of the best savings rates come from money market accounts. These accounts act like a combination of checking and savings accounts. We track MMA rates and list the best money market accounts below.

Money market accounts pay interest on the amount saved similar to savings accounts. What distinguishes an MMA from a savings account are checking features. Some money market accounts offer checking writing features and a debit card.

For many savers, however, the key issue is the interest rate for savings. Given that, we list all of the MMAs in our database below based on their APY.

Featured Money Market Accounts

Bank/Credit Union

Min. Deposit

APY

Learn More


$5000

5.25%


$100

5.00%


$1

5.24%


Best Money Market Accounts by APY

Brilliant Bank
Surge Money Market Account
APY
5.35%
Min. Dep.
$1,000
American First Credit Union
Money Market Deposit Account via Raisin
APY
5.30%
Min. Dep.
$1
Vio Bank
Cornerstone Money Market Savings Account
APY
5.30%
Min. Dep.
$0
Ponce Bank
Money Market Account via Raisin
APY
5.28%
Min. Dep.
$0
CFG Bank
High Yield Money Market Account
APY
5.25%
Min. Dep.
$1,000
Harborstone Credit Union
Money Market Account via Raisin
APY
5.25%
Min. Dep.
$1
UFB Direct
High Yield Money Market Account
APY
5.25%
Min. Dep.
$5,000
SkyOne Federal Credit Union
Money Market Deposit Account via Raisin
APY
5.24%
Min. Dep.
$1
Republic Bank of Chicago
Digital Money Market Account
APY
5.21%
Min. Dep.
$2,500
Hanover Bank
Money Market Account via Raisin
APY
5.20%
Min. Dep.
$1
Western State Bank
High Yield Money Market Account
APY
5.15%
Min. Dep.
$5,000
Blue Federal Credit Union
Money Market Deposit Account via Raisin
APY
5.15%
Min. Dep.
$1
iGObanking
iGOmoneymarket
APY
5.05%
Min. Dep.
$25,000
Bank Purely
Purely Money Market
APY
5.05%
Min. Dep.
$25,000
Redneck Bank
Mega Money Market®
APY
5.05%
Min. Dep.
$500
All America Bank
Mega Money Market Checking
APY
5.05%
Min. Dep.
$500
Lemmata Savings Bank
Money Market Deposit Account via Raisin
APY
5.03%
Min. Dep.
$1
Merchants Bank of Indiana
Money Market Account
APY
5.00%
Min. Dep.
$50
Quontic Bank
Money Market Account
APY
5.00%
Min. Dep.
$0
Virtual Bank
eMoney Market Account
APY
5.00%
Min. Dep.
-
First Foundation Bank
Online Money Market Account
APY
4.90%
Min. Dep.
$1,000
Sallie Mae Bank
Money Market Account
APY
4.75%
Min. Dep.
$1
EverBank
Yield Pledge® Money Market Account 1-Year Intro APY
APY
4.75%
Min. Dep.
$0
mph.bank
High Yield Money Market Deposit Account via Raisin
APY
4.70%
Min. Dep.
$1
CNB Bank Direct
Premium Money Market Account
APY
4.70%
Min. Dep.
$25,000
Presidential Bank
Money Market Advantage Checking
APY
4.62%
Min. Dep.
$25,000
Prime Alliance Bank
Personal Money Market Account
APY
4.50%
Min. Dep.
$1
Northern Bank Direct
Premier Money Market Account
APY
4.35%
Min. Dep.
$5,000
Ally Bank
Money Market Account
APY
4.35%
Min. Dep.
$1
Discover® Bank
Money Market Account
APY
4.15%
Min. Dep.
$1
My eBanc
Super Saver Money Market Account
APY
3.90%
Min. Dep.
$5,000
First Internet Bank
Money Market Savings Account
APY
3.77%
Min. Dep.
$100
Forbright
Personal Money Market Account
APY
3.50%
Min. Dep.
$2,500
Idabel National Bank
Money Market Deposit Account via Raisin
APY
3.50%
Min. Dep.
$1
ConnectOne Bank
Connect Money Market Account
APY
3.50%
Min. Dep.
$25,000
Northpointe Bank
Ultimate Money Market Account
APY
3.25%
Min. Dep.
$25,000
Great Lakes Credit Union
Money Market Deposit Account via Raisin
APY
2.40%
Min. Dep.
$1
CIT Bank
Money Market Account
APY
1.55%
Min. Dep.
$0
Axos Bank
High Yield Money Market
APY
0.25%
Min. Dep.
$0
Axos Bank
Business Money Market
APY
0.20%
Min. Dep.
$5,000

FAQs

What is a money market account?

A money market account is similar to a savings account. It pays interest and limits the number of monthly transactions.

How is a money market account different from a savings account?

A money market account is very similar to a savings account. Some MMAs offer checking writing privileges and debit cards. In this regard, an MMA often has features similar to both a savings account and a checking account.

How is a money market account different from a checking account?

MMAs tend to pay higher interest rates. In addition, you are limited to just 6 transactions a month with a money market account.

Are money market accounts FDIC insured?

Money market accounts at a bank are insured by the Federal Deposit Insurance Corporation (FDIC). MMAs at a credit union are insured by the National Credit Union Administration (NCUA).

How many withdrawals can you make from a money market account each month?

You can withdraw money or make payments up to six times each month via check, debit card or electronic transfer. ATM withdrawals do not count against this limit.

Related: Check out the best online savings accounts for an alternative option to money markets.

Author

  • Rob Berger

    Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at RobBerger.com.