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Money Market Accounts
Money market accounts allow savers to earn a higher interest rate on their money, typically in exchange for maintaining a minimum account balance. Banks and credit unions often have tiered money market rates, meaning the bigger your balance, the higher your interest rate. Plus, bank money market accounts are eligible for federal deposit insurance, just like a regular savings account. Use the filters below to find the best money market account for you!

Looking for the best place to stash your cash? Check out NerdWallet's list of the best online money market accounts.

Find the best money market rates

Account Type
Initial Deposit
* The percentages indicate the highest available APY for each option
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Bank Account Account Type Minimum Balance for APY APY
Sallie Mae Bank
Federally insured by the FDIC
Money Market Account
$1 0.90%
Open Now
Ally Bank
Federally insured by the FDIC
Money Market Account
$1 0.85%
Open Now
TIAA Direct
Federally insured by the FDIC
Money Market Account
$25 0.80%
Open Now
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Comparing Money Market Accounts

By John Gower

When it comes to stashing your savings, money market deposit accounts (MMDAs) are an often overlooked option. In many ways, these accounts are an excellent tool to securely store funds all while growing your balance with competitive rates.

MMDA basics

Money market accounts inherit many aspects of a basic savings account. They both restrict depositors to accessing the money 6 times or fewer each month. Both are also eligible for federal deposit insurance up to the legal maximum (not so with the similarly named money market fund). However, there are some elements that make MMDAs unique and better suited for certain situations.

  • Tiered interest rates - Most money market accounts offer different rates based on how much money you have deposited. The higher your balance, the higher you can earn in interest. This means that if you have a significant amount to start with, a money market account may outpace a regular savings account in terms of yield. It’s also a great incentive to save even more to reach those higher rates.
  • High minimum deposit requirements - along with tiered interest rates, most MMDAs also specify a fairly large minimum deposit requirement to open an account, avoid monthly fees, or even just to earn interest. If you aren’t sure whether or not you can meet this limit, look for banks or credit unions that don’t require it or else investigate a basic savings account.
  • Check writing capabilities - Unlike a regular savings account, money markets sometimes offer the option to write checks. Keep in mind that using these checks is still subject to the 6 withdrawals per month limit, so you can’t go crazy writing checks without incurring a fee. This feature may be useful for people who are using an MMDA to build up an emergency fund, for example. When the need arises, you could easily tap the funds to cover an unexpected cost with a check.
  1. [2013-07-17 14:55:44] - SAVEA DOLLAR says: the checking account at MCT is called Kassasi It lowered its rate to 2.5%
  2. [2013-07-17 14:20:16] - SAVEA DOLLAR says: phone #800 846 1751 MCT credit union
  3. [2013-07-17 14:14:43] - SAVEA DOLLAR says: it is is MCT credit union for Port Neches,Nederland, Orange &Bridge city Texas Mid County Teacher;s credit union
  4. [2013-07-17 06:02:06] - me says: there is no "mci credit union" according to google. did you mean mcu? if not, what is mci credit union website address?
  5. [2013-07-16 23:15:42] - SAVEA DOLLAR says: you can get 3,5% at MCI credit union free checking with 1 bill pay or direct deposit &10 debits also TEXAS FIRST BANK OFFERS 2% With same deal up to 10000$ at Texas First bank & 25000$ at MCI credit union
  6. [2013-07-11 21:46:57] - Henry says: Yes, but unless your hiding money under your bed, you're giving a brick and mortar bank your money while getting .001% or some pathetic return for it. To think you'll get several times the rate of return w/ online banks, you don't have to be Einstein to know its stupid to leave your $ with the traditional banks
  7. [2013-06-16 00:14:59] - Matthew Felsted says: Hmm.. This seems to be an insanely bad idea as the national inflation rate is greater than the amount you can earn with the top rate listed on this page. You'd actually lose a ton of money at these rates.
  8. [2013-06-15 22:13:08] - Scott says: Dupont Community Credit Union (mydccu.com) offers Grow Green Checking at 2.75% APY
  9. [2013-06-12 16:11:39] - justpicky says: USAA Federal Saving Bank ........good choice ........ Navy Federal Bank ........ Local Credit Union .......... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Would never bank with Wells Fargo , Citibank , B of A , and there's several others ...Banks are the reason why credit cards went south . And why home mortgages fail . Banks felt they couldn't fail , because they were to big ......The blame for this economy ....because of Greedy CEO's , Mortgage Companies , realtors , and many others including polictians ... What they didn't tell the public .....we're in a 13 year Recession .....2007 - 2020 As far as credit cards they're only good for Emergency , one card is enough not over $1,000 ....