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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.

Need the best money market account? Heed these tips

by | Money Rates Columnist

By most measures, an FDIC-insured money market account is very similar to an ordinary savings account: It’s a savings vehicle designed to build wealth in virtually the safest manner possible. While money market account yields are unlikely to compete with riskier options, these accounts can offer a meaningful return, particularly if you commit to finding an account that offers competitive terms.

There are a few factors to consider when shopping for a new money market account, including the account’s rate, minimums, accessibility and perks. By doing some homework before you open an account, you can maximize the chances that you’ll find a vehicle that suits your needs for years to come.

Article continues below table.

 Account Type
 Amount

Type: MMA

Minimum to earn APY $0

0.90%APY

Rates as of 7/31/2015
FDIC Insured

Advertiser Comments

  • Member FDIC. No minimums and no fees.
Capital One 360
Minimum to earn APY $0
0.75% APY
Rates as of 2015-07-29
Comment
360 Savings Account - No fees - No minimum balance - Online account

Type: Savings

Learn More
Ultima Bank
Minimum to earn APY $0
2.02% APY
Rates as of 2015-07-29
Comment
SMART Savings Account - for young adults 18 yrs or younger, withdrawals prior to 18th See morebirthday may result in a penalty

Type: Savings

Learn More
Dollar Bank Federal Savings Bank
Minimum to earn APY $0
1.60% APY
Rates as of 2015-07-29
Comment
Everything Savings - 1.60% APY throughout 2015 on balances below $20,000 when linked with an See moreEverything Checking Account. The rates require Everything Checking with six qualifying monthly posted payments for example: check, Online Banking bill payment, Telephone Banking bill payment, ACH debit, Point-of-Sale transactions (signature or PIN based).- Open online and mail in forms. Available in Pennsylvania, and Ohio market area. Rate collected within: 15222 (PA)

Type: Savings

Learn More
iGOBanking
Minimum to earn APY $25,000
1.10% APY
Rates as of 2015-07-29
Comment
iGO Online Money Market

Type: MMA

Learn More
SFGI Direct
Minimum to earn APY $1
1.06% APY
Rates as of 2015-07-29

Type: Savings

Learn More
GE Capital Bank
Minimum to earn APY $1
1.05% APY
Rates as of 2015-07-29
Comment
Online Savings - APY for balances between $1 to $1,000,000

Type: Savings

Learn More
Bank2
Minimum to earn APY $0
1.01% APY
Rates as of 2015-07-29
Comment
Great Rate Savings - Tier Up to $35,000 - Account must be linked to Great See moreRate Checking Account - Available only to Oklahoma residents

Type: Savings

Learn More
iGOBanking
Minimum to earn APY $0
1.00% APY
Rates as of 2015-07-29
Comment
iGO Online Savings

Type: Savings

Learn More
Salem Five Direct
Minimum to earn APY $0
1.00% APY
Rates as of 2015-07-29
Comment
eOne Savings - APY on balances of $0.01-$500,000. Companion account to eOne Checking, no minimum See morebalance, no monthly fees, free ATM card, Online applicants only, who do not have existing deposit accounts with Salem Five

Type: Savings

Learn More
Biscayne Bank
Minimum to earn APY $1
1.00% APY
Rates as of 2015-07-29
Comment
Regular Savings - Maintain $1,000 balance each day and avoid a $25 monthly maintenance fee See more- Miami-Dade County, Florida market area only

Type: Savings

Learn More
ableBanking
Minimum to earn APY $0
1.00% APY
Rates as of 2015-07-29
Comment
Money Market Savings - up to 6 withdrawals are permitted per month - apply online See more- a division of Northeast Bank based in Maine

Type: MMA

Learn More
Barclays
Minimum to earn APY $0
1.00% APY
Rates as of 2015-07-29
Comment
Online Savings - APY for all balances

Type: Savings

Learn More
Coulee Bank
Minimum to earn APY $0
1.00% APY
Rates as of 2015-07-29
Comment
Kasasa Saver - Must be a resident of Wisconsin, Minnesota or Iowa

Type: Savings

Learn More
Ally Bank
Minimum to earn APY $0
0.99% APY
Rates as of 2015-07-29
Comment
Online Savings - Free online transactions, no monthly fees, no minimums - Apply online See more- Rate collected within: CA

Type: Savings

Learn More
Discover Bank
Minimum to earn APY $0
0.95% APY
Rates as of 2015-07-29
Comment
Online Savings Account - Account can only be held in individual or joint ownership - See moreUp to 6 preauthorized transfers from your Online Savings Account per statement cycle

Type: Savings

Learn More
Ultima Bank
Minimum to earn APY $1,000
0.90% APY
Rates as of 2015-07-29
Comment
UBM Direct Savings Account

Type: Savings

Learn More
The Palladian Private Bank
Minimum to earn APY $0
0.90% APY
Rates as of 2015-07-29
Comment
Currently there is a promotional interest rate for Palladian Savings Account which is fixed at See more1.30% for the first six months. After the promotional interest rate ends, the interest rate will be the non-promotional variable interest rate that is offered for Palladian Savings Account at that time (currently 0.90%). There is a minimum initial deposit of $10,000 and maximum initial deposit of $100,000.

Type: Savings

Learn More
Sallie Mae Bank
Minimum to earn APY $0
0.90% APY
Rates as of 2015-07-29
Comment
Nationwide - apply online

Type: MMA

Learn More
Santander Bank
Minimum to earn APY $10,000
0.90% APY
Rates as of 2015-07-29
Comment
Money Market Savings Account - APY for balances between $10,000-$4,999,999 - New accounts only - See moreapply online - Rate collected within: New York

Type: MMA

Learn More
WSFS Bank
Minimum to earn APY $25,000
0.90% APY
Rates as of 2015-07-30
Comment
WSFS MM - Rate in PA - Tier $25,000 - $49,999

Type: MMA

Learn More
EH National Bank
Minimum to earn APY $250,000
0.86% APY
Rates as of 2015-07-29
Comment
Premium Money Market - tier $250,000 and over

Type: MMA

Learn More
Radius Bank
Minimum to earn APY $2,500
0.85% APY
Rates as of 2015-07-29
Comment
Radius High-Yield Savings - APY for balances $2,500 and above - apply online

Type: Savings

Learn More
Ally Bank
Minimum to earn APY $0
0.85% APY
Rates as of 2015-07-29
Comment
Money Market Savings Account - All balances - No monthly fees - Apply online See more- Rate collected within: CA

Type: MMA

Learn More
Colorado Federal Savings Bank
Minimum to earn APY $2,500
0.85% APY
Rates as of 2015-07-29
Comment
Online Savings Account - up to 6 withdrawal transactions per month with no service fee

Type: Savings

Learn More
Mutual of Omaha Bank
Minimum to earn APY $1,000
0.85% APY
Rates as of 2015-07-29
Comment
Online Money Market - Rate/APY for balances from $1,000 - $1,000,000

Type: MMA

Learn More
First Internet Bank
Minimum to earn APY $0
0.80% APY
Rates as of 2015-07-29
Comment
Money Market Savings - Rate earned on balances up to $99,999.99 - transaction limitations - See moreapply online

Type: MMA

Learn More
AmTrust Direct
Minimum to earn APY $5,000
0.80% APY
Rates as of 2015-07-29
Comment
Earn More Money Market Account - Rate earned on balances of $5,000.00 and up-new money See moreonly.

Type: MMA

Learn More
Discover Bank
Minimum to earn APY $100,000
0.80% APY
Rates as of 2015-07-29
Comment
Money Market Tier $100,000 and up

Type: MMA

Learn More
Sallie Mae Bank
Minimum to earn APY $0
0.80% APY
Rates as of 2015-07-29
Comment
Nationwide - apply online

Type: Savings

Learn More
EH National Bank
Minimum to earn APY $10,000
0.80% APY
Rates as of 2015-07-29
Comment
Premium Money Market - tier $10,000 - $49,999

Type: MMA

Learn More
MyBankingDirect
Minimum to earn APY $5,000
0.80% APY
Rates as of 2015-07-29
Comment
Earn More Money Market Account - Rate earned on balances of $5,000.00 and up-new money See moreonly.

Type: MMA

Learn More
Discover Bank
Minimum to earn APY $10,000
0.75% APY
Rates as of 2015-07-29
Comment
Money Market Tier $10,000 - $24,999 - $10 minimum balance fee if average balance is See morebelow $2,500

Type: MMA

Learn More
Union Federal Savings Bank
Minimum to earn APY $1
0.75% APY
Rates as of 2015-07-29
Comment
Online Money Market Account - Union Federal Savings Bank is currently not accepting new applications See morefor Online Money Market Accounts

Type: MMA

Learn More
Bank of Internet
Minimum to earn APY $1
0.75% APY
Rates as of 2015-07-29
Comment
Money Market Savings Account

Type: MMA

Learn More
SmartyPig
Minimum to earn APY $0
0.75% APY
Rates as of 2015-07-29
Comment
APY for balances up to $50,000

Type: Savings

Learn More
FNBO Direct
Minimum to earn APY $0
0.75% APY
Rates as of 2015-07-29
Comment
Online Savings Act - Rated Kiplinger's Best Online Savings Account, no minimums, no monthly fees, See moremanage accounts securely online

Type: Savings

Learn More
Discover Bank
Minimum to earn APY $50,000
0.75% APY
Rates as of 2015-07-29
Comment
Money Market Tier $50,000-$99,999

Type: MMA

Learn More
Discover Bank
Minimum to earn APY $2,500
0.75% APY
Rates as of 2015-07-29
Comment
Money Market Tier $2,500 - $4,999 - $10 minimum balance fee if average balance is See morebelow $2,500

Type: MMA

Learn More
Discover Bank
Minimum to earn APY $5,000
0.75% APY
Rates as of 2015-07-29
Comment
Money Market Tier $5,000 - $9,999 - $10 minimum balance fee if average balance See moreis below $2,500

Type: MMA

Learn More
Workers' Credit Union
Minimum to earn APY $50
0.75% APY
Rates as of 2015-07-30
Comment
cuSave - Online Savings - Membership is limited to residents of Massachusetts or New Hampshire See moreor those who work for a company that is based in Massachusetts

Type: Savings

Learn More
Discover Bank
Minimum to earn APY $25,000
0.75% APY
Rates as of 2015-07-29
Comment
Money Market Tier $25,000 - $49,999 - $10 minimum balance fee if average balance is See morebelow $2,500

Type: MMA

Learn More
TIAA Direct
Minimum to earn APY $50,000
0.75% APY
Rates as of 2015-07-29
Comment
Money Market - tier $50,000 -$99,999

Type: MMA

Learn More
FSG Bank
Minimum to earn APY $10,000
0.75% APY
Rates as of 2015-07-29
Comment
Classic MMA - Limited time offer -Rate special for balances over $10,000 - Account holder See moremust also have primary checking account with FSG Bank - Opening balance must be an original deposit - limited to communities within Tennessee and Northern Georgia market area

Type: MMA

Learn More
Century Bank Direct
Minimum to earn APY $0
0.74% APY
Rates as of 2015-07-29
Comment
Online MM Rate - apply online

Type: MMA

Learn More
Geddes Federal Savings and Loan Association
Minimum to earn APY $50,000
0.70% APY
Rates as of 2015-07-29
Comment
Central New York market area only

Type: MMA

Learn More
Chesapeake Bank
Minimum to earn APY $1
0.70% APY
Rates as of 2015-07-29
Comment
Clear Sky Savings - Tier $1 - $249,999

Type: Savings

Learn More
TIAA Direct
Minimum to earn APY $100
0.70% APY
Rates as of 2015-07-29
Comment
High-Yield Savings tier $100 - $9,999

Type: Savings

Learn More
TIAA Direct
Minimum to earn APY $10,000
0.70% APY
Rates as of 2015-07-29
Comment
High-Yield Savings tier $10,000 - $24,999

Type: Savings

Learn More
TIAA Direct
Minimum to earn APY $25,000
0.70% APY
Rates as of 2015-07-29
Comment
High-Yield Savings - tier $25,000 and up

Type: Savings

Learn More

Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts, some of which have paid for a link to their website. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.

Here are some tips to guide you as you evaluate each facet of a prospective money market account.

1. Check the rate – twice

Assuming you’d like your savings to earn some interest each month, the rate will probably one of the main factors – if not the main factor – in choosing your money market account. But because money market rates change over time in response to economic shifts and changes at banks, it’s critical to not simply glance at the rate you see on the bank’s window or website and assume that that’s all there is to know.

Many banks offer “teaser” rates that may be well above the level of interest the bank ordinarily offers on the account. The goal here is to get customers to sign up based on that splashy introductory rate, but if you’re looking for a money market account that will excel over the long haul, the ongoing rate – the yield that you’ll get once the teaser rate expires – is much more important.

The ongoing rate may be buried in the account’s fine print, but don’t let it escape you. If you find that the ongoing rate is well below the teaser rate – and especially if it’s below the ongoing rates that other banks offer – you may want to look elsewhere.

Additionally, MoneyRates.com runs a quarterly America’s Best Rates feature that highlights savings and money market accounts that consistently offer the highest rates in their category. If a strong ongoing yield is a top priority for you – and it should be – this may be a good place to start your search.

2. Note the minimums

One way money market accounts differ from savings accounts at many banks is in the minimum opening deposit and the monthly minimum balance. Because many banks offer higher yields on their money market accounts than they do on their savings accounts, they in turn demand higher minimums with the money market account.

A quick glance at the required minimums for a given account can inform you whether it’s a good choice for your savings. If you have $100,000 to deposit, you’re likely to find you’re well above the required minimums for most money market accounts. But if you only have $1,000, you may be below the minimum for some accounts.

In those cases, it’s wisest to look elsewhere for a money market account or instead consider that bank’s savings account (assuming it has friendlier minimums). If you start an account without the funds to meet that monthly minimum balance, you’re likely to forfeit your monthly interest payments and even face monthly service charges, which can quickly erode the savings you’re trying to grow.

Also, don’t assume that the opening minimum deposit and monthly minimum balance are ever the same. Some banks offer friendly opening minimums and not-so-friendly monthly minimums. Why do they do this? You’ll know when you have to fork over that first monthly service fee.

3. Ensure sufficient access

While a money market account is a highly liquid type of vehicle – you can access your funds at virtually any time – you shouldn’t assume that it can take the place of a conventional checking account.

As mandated by the Federal Reserve’s Regulation D, money market accounts (and all other accounts classified as “savings deposits”) may only permit six or less “preauthorized, automatic or telephonic” transactions per month. That includes checks and debit-card transactions, which means these accounts aren’t ideal for funding regular purchases. Still, Regulation D permits that you can access your money via branch or ATM withdrawals as often as you’d like.

If you find these regulations too cumbersome, an interest-bearing checking account may be a good alternative to a money market account.

4. Pick your perks

As mentioned above, some money market accounts include check-writing and debit-card privileges – something ordinary savings accounts do not. But it’s important to verify that any money market account you’re considering has these perks – if you wish to have them – because they aren’t universal.

Additionally, some banks also offer reimbursements of ATM fees with their money market accounts, as well as online tools to assist you in managing your account. If you’re an online-banking aficionado, it couldn’t hurt to take a tour of a prospective bank’s website – or perhaps even read some reviews of it – before opening an account there.

A final word on money market accounts

There is one last thing you should always verify before opening any type of bank account, but thankfully this step is usually easy. Before you hand over your money, make sure that your deposits will be backed by insurance from the Federal Deposit Insurance Corporation (FDIC). FDIC insurance protects funds up to $250,000 per depositor, per institution in the event of a bank failure, and banks that carry it are required to display the FDIC emblem prominently in their branches or on their website.

Like most types of insurance, it’s something you hope to never use, but that you’ll be very glad to have if things turn for the worse. If you are looking to deposit more than $250,000 in a non-joint account -- FDIC insurance can protect joint accounts to a higher level since there are multiple account owners -- it’s wise to use multiple FDIC-insured institutions to ensure maximum coverage on your funds.

Best money market and savings account rates found by users like you

Have you been able to find even better money market and savings rates than the ones displayed above? If yes, please share them with us and other MoneyRates users! Please include the details: the name of the bank, term of the account, when you opened the account, and whether the account can be opened online or only in the branch (if the latter, please include the location of the branch). Thank you!

Showing 132 comments | Add your comment
HungryByteman

30 December 2014 at 10:08 pm

Hey, RICH NG, How about telling us where BECU is, because the BECU in Washington State is almost as low in their rates as the CU's in SC, under half a percent.

rich ng

21 November 2014 at 6:48 am

Don't see credit unions either... Maybe not considered banks? BECU offers 2% interest for their premium no fee checking...

Linda Rowsey

30 October 2014 at 4:13 pm

I do not see Wells-Fargo in the 148 pages of banks listed. Did I miss it?

Smith

22 September 2014 at 7:07 am

Clayton Bank and Trust is offering a new Prime-Based Money Market Account with no minimum balance to open the account or earn the APY, which is currently 0.75%. The rate is WSJ Prime minus 2.5, so you won't need to rate shop when prime moves. There are also no fees or complicated requirements.

Harry

12 August 2014 at 2:26 pm

MySavingsDirect.com has 1.00% with no minimum and no fees!

Bree Martin

16 May 2014 at 11:35 am

FSG Bank in East Tennessee has a great rate of .75% on $10,000 I was looking for somewhere to park some liquid cash for awhile and they were great and easy to deal with.

Julie Baek

23 September 2013 at 5:02 pm

I was looking around for a higher interest savings account so i had been purusing sites looking for the best deal. I ultimately found mine beause my mother in law saw an ad in the korean newspaper. I opened my account today at First Choice Bank, my experience was pleasant nothing negative to report, its their high yield savings account, minimum: $10000, 1.00%, this rate will not change for a year, and you have to open the account by 11/30/2013, I think you have to go into the branch to open though which was fine with me since I happen to live closeby to one of their branches. I think their website has a list of all their locations (www.firstchoicebankca.com). They are only in southern california so if you live nearby its pretty convienient.

Richard Rosenberg

23 August 2013 at 6:00 pm

We opened a M.M. account with Amtrust Direct which pays 1.05%. Take it from me its not worth the difference between other internet banks. We sent the application in 7-11-13 and today its 8-23-13 and all issues have not been addressed. Its been a absolute nightmare dealing with a staff that doesn't know whats going on. The time ive been on the phone with the bank has been a total WASTE. Richard Rosenberg

Peter

2 June 2013 at 6:12 am

Barclays has now dropped to .90% and didn't notify me of the rate change. Salem Five is a mess. They offered a great rate, and I set up an account only to be informed after the whole process that the rate was for new money only.

Doug

8 April 2013 at 1:52 pm

I'm a big fan of Barclays as I have been with them since June, 2012 and their interest rate has remained 1% the whole time.

Michael

11 February 2013 at 7:14 pm

Salem Five is offering 1.25%, but setting up an account with them is very tedious and we just learned they have very low limits for making deposits and withdrawals on line. First deposit has to be by mailed check. We set up an account and ended up closing it after having to repeatedly call them for clarification of their policies and procedures. Opened an account with CITbank(1.00%) that went very smoothly. Much better experience.

Mary

23 January 2013 at 9:06 am

TIAA Direct's savings account APY went down to 1.00% for all balance amounts.

Maria - MONEYRATES MODERATOR

15 January 2013 at 10:36 am

Hi Doug, My apologies for the oversight and not responding to your earlier email. Barclays is included in our list. Take a look at our Best Savings Accounts page http://www.money-rates.com/savings.htm. Barclays Online Savings Account is currently listed on the fifth page of our financial institutions list. According to Barclays website they have over 300 years of banking history and currently have banking operations in over 50 countries including the U.S. Barclays Bank Delaware is FDIC insured. Thank you for contacting us!

Jean

14 January 2013 at 9:12 am

I am checking rates and also comments on institutions. I note that none of the comments posted here are past September 2012. It is now January 14 - are there any more current comments?

Norman Ross

7 January 2013 at 5:30 pm

Salem Bank 1.25%

Corey

19 December 2012 at 8:57 pm

Be sure to check credit union accounts. I make my living through a Fortune 500 company that has their own credit union available for us. The regular savings account that I have with them has been earning around 2.4% APY for the past 2 or 3 years. It also has very easy and favorable terms for the everyday common man. Be sure to look into this sort of thing at your workplace if you work for a large company.

Doug

10 December 2012 at 8:51 am

I will ask it again: What is the reason that Barclays is not included on your list?

Monty Berry

5 December 2012 at 5:43 pm

UFB Direct now at the great low rate of .80. I moved money from American Express back in July to UFB when they were at 1.30. Now American Express is higher.

Eric Deleon

20 October 2012 at 12:02 am

Careful with Sallie Mae. They may have a good rate now and then but they can actually "set off" money from any SM account you have if you owe money on student loans from them(which most students are not aware of); banks are not legally required to inform you if they take your money from an account you have with them, only after they have already done so. Technically, if you have a loan from them, you owe them money, but if you have priority payments e.g., rent, utilities, insurance, etc., this can be a pain in the ass. If you have an unpaid loan from Sallie Mae, DO NOT bank with them! Simple rule: "Don't bank where you've got debts."

Dennis Bell

2 October 2012 at 12:32 pm

Don't forget Sallie Mae Bank. Paying 1.05% on savings as of 10/02/12

Sandra H. Myers

30 September 2012 at 2:30 pm

American Express lowered the interest rate after I opened my account and has never paid the advertised rate again. Currently they are advertising .90%. My last statement dated September 1 paid .87%. Shopping now for better rates.

Bill Garrison

27 September 2012 at 8:43 am

I have a pre-paid credit card with a savings account option paying 5% APR. Is that good?

Doug

20 September 2012 at 11:44 am

Why isn't Barclays listed? They have been paying 1% for some time now.

Maria - MONEYRATES MODERATOR

9 September 2012 at 2:46 pm

Hi Tim, Thank you for letting us know that UFB Direct has lowered their MMA rate to 1.10% APY. Deposits for UFB Direct are FDIC insured through BofI Federal Bank. Thanks again!

Tim

6 September 2012 at 9:04 pm

Looks like UFB Direct has lowered their MMA rate to 1.10% APY now.

Alan

17 August 2012 at 1:18 pm

ufbdirect.com currently offering FDIC insured MMA @ $1.30% APY

MARIA - MONEYRATES MODERATOR

8 August 2012 at 5:08 pm

Hannah: Thanks for your comment. Regulation D applies only to certain types of electronic and telephone transactions. Unless otherwise prohibited by the bank, customers should be able to make as many withdrawals as they like from their savings account via in-person transactions such as branch and ATM withdrawals. But to avoid any confusion, I've amended the article slightly to reflect this distinction. You can also find more specifics on Regulation D as it pertains to savings accounts on page 3 of this document from the Federal Reserve: http://www.federalreserve.gov/boarddocs/supmanual/cch/int_depos.pdf Thanks again, Maria

Trudy

27 July 2012 at 4:38 pm

It appears that TIAA Direct is currently not taking on any new accounts.

Hannah

21 June 2012 at 5:54 am

Hi Julie - isn't it a bit misleading to say "There are no limits to the frequency or amount of money you can remove from typical savings accounts."? Regulation D limits the number of withdrawals made per calendar month from US savings accounts to 6. Many customers are confused by this, and it might be helpful to make a note of this in your otherwise excellent overview.

P Smith

3 May 2012 at 12:14 pm

I am currently earning 2.01% on my checking account at Cardinal Bank. They have 27 locatons in VA, DC and MD. There are some stipulations, but who doesn't have them? I could not be happier. Great people to work with and a great rate on balances up to $100K.

Yoni

10 April 2012 at 1:37 pm

I recently spoke with a capital one banker, they have a checking account that offers 1% for the first year provided that you have a minimum balance of 5k. I think I'm going to open one.

Maria - MoneyRates Moderator

25 March 2012 at 4:34 pm

Hi Jim,Thanks for the tip about TIAA Direct which is a division of TIAA-CREF Trust Co, FSB, Member FDIC. We added their products to our rate list. And currently the products are available nationwide. If anyone has any experience with TIAA Direct please submit a comment, we would appreciate hearing about your experience. Thanks!

Maria - MoneyRates Moderator

25 March 2012 at 4:18 pm

Hi Elvis,We often respond directly to the individual who contacts us, however point well taken and we will do our best to respond in our comment section. Thanks for the valuable feedback!

Brown Financial

25 March 2012 at 1:04 pm

What a great comparison of savings account rates!! Had to share this. It's important everyone knows the value of shopping around even when it comes to your bank accounts. Every penny counts these days, why not keep more of your money in your own pocket!

Elvis

20 March 2012 at 10:58 am

Can the focals at Moneyrate verify the top rates suggested by the readers AND give stability information on the bank?????? Summary: cardinal - 2.1% upto $100,000 FDIC insured Washington Saving Bank - 1.5%, Massachusettes ONLY ING Direct - 0.9% Electric Orange checking Acct Provident Credit Union(CA) - 2.06% Super Rewards Checking upto $25,000

jim

14 March 2012 at 6:40 am

tiaadirect.com 1.25 % mma

Roz

4 March 2012 at 8:16 am

I see Washington Savings Bank has a 1.50% rate. Can anyone tell me where this bank is located and its contact information. Thanks.

R

8 February 2012 at 5:08 pm

Is AmTrust really capped at $100,000? Their customer service says they pay 1.15% from 5K through 250K. Please call them and verify.

ddofsea

21 January 2012 at 1:28 pm

consumers credit union @ 4 % rewards checking as / of 01 / 21 / 2012

Scott

14 December 2011 at 4:15 am

I received this message from Smarty Pig on December 2: Effective Friday, December 9, 2011, the interest rate paid on SmartyPig savings accounts will be adjusted. The interest rate earned on balances* $0.00 - $50,000.00 will be 0.698% (0.70% APY). The interest rate earned on balances* above $50,000.00 will be 0.499% (0.50% APY). *Balances: For purposes of calculating balances for determination of the rate tier that applies, total balances of all goals within your SmartyPig profile will be aggregated.

Leanna

6 December 2011 at 1:39 am

Discover (the credit card company) has an interest rate of 1.00%, minimum to open is $500, no minimum to earn interest or avoid fees, and is accessed via ACH transfers. I might go with this one because I already have a credit card through them and love them. Their transfers always clear by the same business day.

r2u

22 November 2011 at 12:25 pm

ING rates have dropped again. They are now at .79

Rory

13 November 2011 at 9:10 am

A Credit Union in California ... check out Provident CU which offers approx 2.06% on it's Super Reward Checking a/c - look in 'search function.

Rachel

9 November 2011 at 7:50 am

Linda Thanks for the tip. Just what I was looking for. As a side note, I could not find the special program on their website, but when I chatted with representative and inquired about the special 4 month promotion I was given a link. Thanks again.

Linda

4 November 2011 at 12:32 pm

FlagStar Bank offers an on-line savings account interest rate of 1.25% APR guaranteed for 4 months

Linda

8 October 2011 at 6:44 am

I agree with Susan about Capital One in that Interest rate keeps going down for Interest Plus Online Savings. Was 1% on 9/9 and 0.95% on 9/30 and 0.85% on 10/8. The HIgh Yield Money Market is now down to 0.65%. I am beginning to look elsewhere although no matter whom you go with, your initial "too good to be true" rate will quickly drift. The truth is the banks do not want us to store our cash with them,. All of this depends on how much time and aggravation one is willing to settle for in constantly changing banks.

Carl

2 October 2011 at 12:53 pm

WSFS in Wilmington,De. has a 90 day promotion of 1.24 percent interest

Susan

23 September 2011 at 10:01 am

Capital One slashed its interest rates on September 21, 2011. Its APY on money market accounts plunged to 0.65%. Its APY on Interest Plus Savings Accounts plummeted to 0.85%.

Chris Gallager

11 September 2011 at 12:20 pm

I found a 43 year old federal government employees credit union in Panama offering 4% on regular savings accounts in US dollars. It is called COACECSS, they are the Social Security Employees credit union (over 15,000 members), and they generally do not open accounts for foreigners (non Panamanians), but through this law firm POLS (www.pos-inc.com) I got an introduction and they helped me setup an account.

RightSide

3 September 2011 at 6:18 am

CapitalOne has not failed me. I keep coming here hoping to find something better, but other banks have high minimum balances, require additional accounts, rates that drop off quickly, etc. CapitalOne only requires $1,000 and you earn one of the most competitive rates at any given time. They are always right near the top. That's why I have been with them for 3 years and haven't switched to anyone else.

Joann Kingsley

5 August 2011 at 12:29 pm

Capital One has 1.10% APY for InterestPlus Online Savings Account, $1000 min, no fees plus 10% quarterly bonus on interest

Heather

29 July 2011 at 2:32 pm

First Choice Bank, tiered MMK $2500-$99,999, APY 0.90%; $100,000-$499,999, APY: 1.00%

There

25 July 2011 at 9:19 am

Cinco Credit Union or Kemba Credit Union 3.75% for a checking account, much better rate than these savings accounts listed!

DS.

21 July 2011 at 10:59 pm

Everyone would like the best savings interest rates. Why not cover off-shore banks? I understand you can get 6% - 8% interest in India or other countries. Perhaps even China offered 5% recently since it's key lending rate went up to slow down it's economy. Seriously, we all know about off-shoring. There are just some tricks to get an account or international and legal access (US Laws and Regulations some what interefer).

Brian

14 July 2011 at 8:55 am

Hudson City Savings Bank, NJ...1.05%

Max Brimberg

2 July 2011 at 9:57 pm

Capital One is paying 1.14% to Costco members in a savings account.

ridgewood savings

19 June 2011 at 8:20 am

Money market insured 6/11 bayside NY branch only, 25 k min 1.75% fixed til 12/31/11. six withdrawals per month permitted

fred winer

7 June 2011 at 11:33 pm

you can get 4%/year at communication federal credit union up to 30,000.00 rules are 1.bill paid by draft,2.debit card used 12 times a month,3. 500.00 sent to credit union once a month.phone number for the branch i go to is (918) 665-3760 i forgot to say that the 500.00 has to be sent to the credit union by electronic means.anything over 30000.00 only gets 1%/year.the branch i go to is in tulsa but i believe they have other locations across oklahoma and also in kansas and missouri

RV

2 June 2011 at 1:35 pm

SmartyPig is going down to 1.09% from June 15

Blair

2 June 2011 at 12:42 pm

Smarty pig is about to reduce their APY to 1.10% as of June 15th 2011

Davide Larenzo

4 May 2011 at 4:48 pm

SAC Federal Credit Union in Sarpy and Douglas County, Nebraska offers 3.00% interest to shareholders owning a checking account with a debit/credit card and making at least 12 debit/credit transactions a month. The 3% APY is paid monthly for checking account balances up to $25,000. I believe only residents of the 2 counties qualify for membership.

John Weaver

22 April 2011 at 9:42 pm

Oops, Treasure State Banks Money Market account yields 1.95% APY

John Weaver

22 April 2011 at 9:40 pm

Treasure State Bank, Missoula, MT Terms: $1000 Min., 6 free withdrawals per month Opened Jan 2011 Can be opened by phone, mail, or in bank

Doug R

16 April 2011 at 7:57 am

The Palladian Private Bank has not offered online deposits for some time. Their name should be removed from this list.

Deen

12 April 2011 at 7:02 am

Discover bank rates are also good.

robert kilgour

1 April 2011 at 10:28 am

what is the current rate of interest for a 1 year, 1 1/2 year, and 2 year cd at US Bank

BILL

22 March 2011 at 9:02 am

Presidential Bank has dropped their savings rate from .63 to .50. Second drop this month. Chg acct rates also dropped again from .50 to .38

Blair

11 March 2011 at 1:57 pm

salliemae has reduced to 1.10% smartypig seems to be the best bet right now

Tim

9 March 2011 at 8:22 pm

Hello - the 1.75% rate listed for the AmericaNet Bank MMA acount is no longer available. When you go to their website and click on the MMA account it is showing "Sorry Sold Out" and has shown that for awhile. Thanks for the great website! -Tim

Brittney

7 March 2011 at 12:27 pm

Sallie Mae Bank Online, APY 1.25% Savings Account (variable) opened November 2010, minimum to apply $0

MSaDave

7 March 2011 at 12:08 pm

Many thanks for sharing this helpful information here.

Tom

4 February 2011 at 7:36 am

Leonor: Re NetSpend debit card. You do receive 5% up to a maximum of $10,200, but it will cost you more than that to ever get the money out of the account. That is the trick. My advice: AVOID.

Jim

30 January 2011 at 7:05 pm

Would anyone recommend Customers Bank in PA for the MMA???? Thanks.

Leonor

30 January 2011 at 3:28 am

I have a netspend visa debit card that offers a savings account plan that pays 5.00% APY, How is this bank able to offer a higher return than the more recognized banks? Or am I reading the numbers wrong?

Sandra L Ross

23 January 2011 at 3:51 pm

CapitalOne Bank is offering 1.25% interest on Direct Banking Savings accounts. This is an increase from 1.01%. No checking link is required and may be opened with $1.00. A 10% bonus on earned interest is offered if your balance remains above $10,000.00 for the previous three months, and is deposited to your account for the next quarter. In an age where interest rates are extremely low, I find CapitalOne to be consistantly above the rest of its competitors.

Thomas B.

17 January 2011 at 12:23 pm

I am looking for the best savings rates for those with Trust Accounts (living trust). Many of the online savings institutions with FDIC insurance so not authorize trust account applications. Is there a listing of which ones will take trust accounts? Can you add information to your rate listings indicating if they take trust accounts? TUVM

dan

3 January 2011 at 11:08 am

smartypig dropped to 1.35% today

Jen

1 January 2011 at 9:01 am

Soopers Credit Union in Denver Colorado has a Rewards checking account which yields 3.75% APY. The three stipulations are 1. you must have one direct deposit account set up, 2. you must sign up for e-statements, 3. you must use your check card 15 times per month. I think the hard part will be to keep an invisible line between what is to be saved and what is available for spending with keeping your savings in a checking account. But I'm trying at that rate.

Mick Rogers

7 December 2010 at 3:38 pm

American Express Bank has a savings account that is simple yet high yielding (currently 1.3%). No minimum balance required. No fees. They do not require you to open a checking account, mortgage, car loan nor direct deposit. Literally no strings attached. It's ideal for out-of-state use because of the internet. You will need a checking account at whatever bank or credit union that is most convenient for you (probably a credit union because most don't charge to maintain a checking account). You then transfer funds to and from this account as needed via the internet (very easy, convenient and fast). Six (6) withdrawals per month are allowed (this is the same for every savings and money market account in the country mandated by the Federal Government). Then just pay your bills or financial dealings using this checking account which allows unlimited transactions and addition benifits such as free Bill Pay. This is the best deal I could find and even competes very favorably with certificates of deposit without tieing up your funds. CHECK IT OUT

Bernice

24 November 2010 at 1:34 pm

from FirstMerit bank on Orchard ave, they have a savings acct at 1.25% the min. bal required to open is 1.00 for real 1.00 call them 630.907.4500 they are so nice they are 2430 w Indian trail rd in aurora IL

kimmers

12 November 2010 at 6:37 pm

Wachovia offers the way 2 save account. 3% for 1 year, you can put up to $100 a month in the account and you can put additional money in the account every time you buy something with your debit/check card.

frank

12 November 2010 at 12:28 am

Capital One is saying that they will give me 1.3%APY for an online savings account - plus a bonus for depositing. Sounds pretty good to me - am I missing something?

austin

11 November 2010 at 1:58 pm

ing direct's orange savings account has 1.10% APY with no minumum to open.

Walter Galbraith

17 October 2010 at 9:40 am

Hello, There is a bank that has a new money market rate of 2.1 % for deposits under $10,000.00. My Bank First United Walt

Aravind

1 October 2010 at 9:45 am

Evantage Bank's Rewards Checking has been giving me 4.0% for over a year now.... the "catch" is that I need to make 10 checkcard transactions per month (though there is no minimum transaction size, and I can make the transactions over the internet).

CHris

30 August 2010 at 10:53 am

Huntington Bank is currently paying 1.51%.

Praveen

24 August 2010 at 5:01 pm

High-Yield Savings Account by Sallie Mae is giving 1.40% interest, which is higher than all the other banks shown here.

Paul Malley

17 August 2010 at 6:16 pm

S Sallie Mae Bank High-Yield Savings Account by SallieMae Current Rate 1.40 % No minimums No monthly fees Sallie Mae Bank at this web address: https://banking.salliemae.com/login.do?_flowExecutionKey=_cF277682F-81DE-3A65-F33C-C8B2FE1D2B48_kA48AE3A9-7840-B5C5-C827-2B9ACB627A17

earlene bacon

2 August 2010 at 11:46 am

security bank offers 1.51% on rewards checking w/10 debits and free atm fees

steve gompertz

17 June 2010 at 2:32 pm

ing direct (https://secure.ingdirect.com) has 1.1% savings and an electronic internet only checking account that is very convenient

Megan

17 June 2010 at 11:48 am

CNBBankDirect is offering 1.25 APY with only a $1 opening minimum balance to earn that rate.

Shari

17 June 2010 at 6:21 am

Dollar Bank of Pittsburgh and local branches in Cleveland, OH offer 2.50% for free money savings.

Lynn Edwards

26 May 2010 at 6:21 pm

Provident Community Savings Bank, 2700 Celanese Road, in Rock Hill, South Carolina offers their Dream Checking account at an over 4% monthly interest rate with balances up to $30,000, There are a few stipulations, like making so many ATM purchases, having one direct deposit and using electronic banking, but this is easy to manage. You can also link a Dream Savings account to this for a 2% rate on savings. Best one I've found so far in this crummy economy! You do have to apply in person, though, so living near the area is a bit of a must.

Dewayne

10 May 2010 at 11:59 am

Charter Bank in GA and AL offer 5.01%APY on checking no min dep. Required: 1 ACH Debit/Deposit, 10 MC Debit Purch, eStatement,. Also refund ATM fees. Think goos thru Sept.

Punjab

3 May 2010 at 1:36 pm

Elsie, can you provide more details regarding this 2% from 5th 3rd. My banker is telling me the highest offered is 1.6%.

elsie

25 April 2010 at 12:35 pm

Fifth Third Bank is paying 2% APY on a savings, min $5000

val

2 September 2009 at 5:15 am

Check out Grand Bank in NJ. Offering 3.20% money market with $50,000 deposit.

Rita

1 September 2009 at 8:41 am

i would like to compare and see which bank in brooklyn has the highest rate on interest

jim angelo

30 August 2009 at 12:00 pm

best money market rates

James

28 August 2009 at 10:13 am

Through Costco online if you are a member there is a 1.75% through Capital One and an incentive for $60 and $40 depending on what membership you hold.

Grant Jacobsen

28 August 2009 at 6:18 am

Freedom Bank (branches in Vienna and Fairfax) has 14-month CD yielding 2.00% APY, minimum $2500, rate current as of 8/18/2009.

linda

27 August 2009 at 12:30 pm

First National Bank in Oneida, Tn is offering 3.56% on a money market

White Chocolate

25 August 2009 at 10:25 am

Shore Bank Direct Rates as of Aug. 25th Savings Rate 2.15% This bank makes it very easy to sign up online just completed opening my account.

Ian

17 August 2009 at 8:02 am

SmartyPig's rate just went down to 2.01%.

James

15 August 2009 at 2:25 pm

Smartypig is lowering their interest rate on its online savings account from 2.75 to 2.01 on August 17th. That's quite a drop, but I guess we all knew they couldn't keep paying more then 1 point interest then their closest competitors.

Clark Schultz

14 August 2009 at 2:52 pm

Please take a look at the 2 yr CD rates on this page: http://www.money-rates.com/cdrates.htm

charles burton

14 August 2009 at 12:47 pm

I opened saving account online with (Bank of Internet) that I funded with local checking account (100.00) min. to find out that new account is not linked for online transfers. What good is a Bank of Internet account if you have to use snail mail to transfer funds! Beware there is also a $25.00 fee if you withdraw funds before 90 days.

huili liu

14 August 2009 at 6:58 am

Please provide me with the best savings or less than 2 year cd rate. Thanks.

kanty

10 August 2009 at 5:03 am

Need to know checking account intrest and MMA account rate

Ronnie

24 July 2009 at 2:58 pm

I opened a MMA and Savings account @ Discover Bank from their online signup. Then registered to be able to access the accounts and was provided a screen that said it would be 2-3 business days before I would be provided an e-mail with the access info. I called their support number and was told they had to manually process every application and they were several days behind and there was nothing they could do. Advice... if you open an account with Discover Bank make SURE you only fund the minimum amount to open the account and expect it to take a while to really have the account setup.

sonia

19 July 2009 at 11:10 pm

everbank

angie

19 July 2009 at 7:03 pm

Try CapitalOne online savings 1.75% 10K min, or MM 1.40% any amount. I opened last year and yes I observe everybody is lowering rates lately. Still better than local banks offering less than 0.5% for savings. Aloha :D

Paul Chien

10 July 2009 at 9:41 am

Could not get a straight answer from SMARTY PIG on POD for account. Had to call their bank in the Mdwest directly and they informed me no PODs are allowed on SMARTY PIG CDs because they are not considered regular CD's but transaction accounts instead.

Robert

8 July 2009 at 7:00 pm

How come Darby Direct can restrict it's higher-interest rate (2.5 %) "available to Georgia residents only? Isn't that inconsistent with Article IV, Section 2 of the Constitution? Section 2 - State citizens, Extradition The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States.

Micah

7 July 2009 at 9:23 pm

Timberland Savings Bank offers a rate of 4% on a balance of up to 25,000 dollars. The minimum to earn this apy is one dollar. The terms required e-statements instead of paper statements, and you must use your debit card at least ten times every month. They have 22 branches in Southwest Washington State.

Joe bardi

5 July 2009 at 3:25 pm

wher,e,s my highest rate bank.

ena

1 July 2009 at 1:54 pm

Just found out that you can't withdraw from a Smartypig.com account unless you close it. Not good.

Donna

1 July 2009 at 7:09 am

I would like to know who has the best interst rate on Money market accounts in my area. Sun Trust drop from 2% to .92% and continuing to drop. If anyone has good infromation I would love to hear from you. Thank you, Donna

Leo Marks

30 June 2009 at 3:47 pm

Give us the 10 highest rates avialiable now?????? Leo Marks `

Erno Balogh

27 June 2009 at 4:43 am

Please advise of the best money market rates in the local banks.

Farmers State Bank

26 June 2009 at 8:31 am

3.51% on firsst $25000 in checking then 1.01% after. Requires electronic banking w/ 10 debit card purchases and once/month check account on line w/ online statements. Website www.farmersstatebankmn.com

Sam

25 June 2009 at 6:00 am

amtrustdirect.com still has 2% on their Premium e-MMA

Carolyn McCance

24 June 2009 at 10:24 am

SmartyPig has an online savings account program that pays 2.75% with FDIC coverage

JEANNE SHIELDS

23 June 2009 at 5:54 pm

LOOKING FOR A SAFE PLACE TO INVEST $50,000.

cesare stefanelli

17 June 2009 at 7:41 pm

Need Best Interest Rate for Moneymarket Account for a Closing Trust Account $500,000 to $1,000,000 ave bal app.

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