Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Best money market account rates of April 2025

Earn interest and be able to spend your savings at the same time.

Bethany Hickey's headshot

By

Bethany Hickey

Edited by

Alexa Serrano Cruz

Updated

Fact checked

Start comparing

Money market accounts (MMAs) typically combine features of checking and savings accounts by offering a debit card, checkwriting privileges, and you earn interest on your balance. The best MMAs offer rates that are well above the national average of 0.66%.

Why trust Finder?

  • 300+ banks and credit unions reviewed
  • 45+ money market savings accounts analyzed and rated by our team of experts
  • Evaluated under our unbiased rating system covering 6 categories
  • 20+ years of combined experience covering financial topics

We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.

Best overall

Quontic Bank Money Market

9.2 Excellent

Read review
A well-known digital bank, Quontic's Money Market account offers a high 4.25% APY. While there's a $100 opening deposit requirement, this account comes with a debit card and checkwriting privileges.
APY 4.25%
Fee$0
Minimum deposit to open$100

American First Credit Union MMA through Raisin

9.4 Excellent

$250 bonus for new customers with a minimum deposit of $25,000 with promo code GET250.
Go to site
on Raisin's secure site
The American First Credit Union Money Market Account offers 4.3% APY through its exclusive offer with Raisin, so all account management is through Raisin. This rate is higher than the national average for MMAs, and you only need $1 to get started.

American First Credit Union has been in business for over 70 years, offers a wide variety of banking services and products and was originally founded to serve grocery store workers.

APY 4.30%
Fee$0
Minimum deposit to open$1

Blue FCU MMDA through Raisin

9.4 Excellent

Go to site
on Raisin's secure site
Blue FCU MMA offers 4% APY through Raisin, who would handle all your online banking and customer support needs. There are no monthly fees and you only need $1 to get started. The account is FDIC insured through Blue FCU, a credit union with over 110,000 members.
APY 4.00%
Fee$0
Minimum deposit to open$1

Discover® Money Market

7.8 Great

Go to site
on Discover's secure site
Read review
From the trusted, mostly online bank Discover comes its Money Market account offering up to 3.55% APY. You'll earn 3.50% APY on balances under $100,000, and earn a slightly higher 3.55% APY on balances over $100,000. You'll also get a debit card and checkwriting, and there are no monthly maintenance fees or opening deposit requirements. There are also no excessive withdrawals, insufficient funds or account closure fees. But as Discover is mostly an online institution, you'll have to be ok with limited branch access.
APYUp to 3.55%
Fee$0
Minimum deposit to open$0

Vio Bank Cornerstone Money Market

Vio's money market account earns a high 4.41% APY, but it doesn't come with a debit card or checkwriting privileges. Also, there's a $100 opening deposit requirement, and you'll need to watch out for its $5 monthly fee, which can be avoided when you sign up for e-statements. Vio Bank is the online branch of MidFirst Bank, and MidFirst is the largest privately owned bank in the country. It mainly focuses on commercial real estate and mortgages.
APY 4.41%
Fee$5 per month
(can be waived)
Minimum deposit to open$100

Sallie Mae Money Market

8.6 Great

While known for its student loans, Sallie Mae offers a competitive money market account with a 3.9% APY. There is no monthly maintenance fee or minimum balance requirements, and while you get checkwriting privileges, there's no debit card.
APY 3.90%
Fee$0
Minimum deposit to open$0

Ally Money Market

9.4 Excellent

Offering 3.6% APY on all balances and a debit card and checks, the Ally Money Market account is a solid option. Ally allows you to use any Allpoint ATM for free, and you'll get $10 in monthly reimbursements when you use an out-of-network ATM. You'll also enjoy no monthly maintenance fee and no opening deposit requirement.
APY 3.60%
Fee$0
Minimum deposit to open$0

Methodology: How we choose the best MMAs

Finder’s banking experts review over 50 money market accounts to find the best ones. While debit cards and checkwriting privileges are features we consider, we prioritize accounts that offer strong interest rates. The top accounts must meet the following factors:

  • An APY that’s at least five times higher than the national average of 0.66%
  • Minimum opening deposit of $500 or less
  • Available in most states
  • No strict membership requirements
  • FDIC- or NCUA-insured up to $250,000

What is a money market savings account?

A money market account — or MMA — blends features of a checking and savings account. While it earns interest and is typically limited to six monthly transactions, they often come with a debit or ATM card and let you write checks. Like savings accounts, most compounded interest daily.

Traditional savings accounts aren’t meant for spending, so MMA accounts are best for someone who wants a high-yield account with the ability to make purchases or withdraw money from an ATM.

How to compare money market accounts

Find the best accounts for your lifestyle by comparing these factors:

  • Competitive APY. Choose an account that offers rates higher than the national 0.66% average to maximize your earnings.
  • Tiered rates. Some MMAs have tiered interest rates, requiring certain balances to earn the highest APYs. Either choose an account without balance requirements or choose a tiered account with an APY for a balance you can hold.
  • Affordable minimum opening deposit. While the average is $2,500, there are accounts with deposit requirements as low as $0.
  • Easy access to money. Although a debit card and the ability to write checks is what differentiates a money market account from a savings account, some don’t come with these common benefits.
  • FDIC- or NCUA-insured. A trustworthy money market account will be FDIC- or NCUA-insured for up to $250,000.
  • Few fees. The average monthly maintenance fee runs around $10, but plenty of accounts don’t have a fee. Also, if you frequently use out-of-network ATMs, look for an account that reimburses ATM fees.

Pros and cons of MMAs

While money market accounts are interest-bearing and offer flexible account access, there are some pitfalls to be wary of.

Pros

  • High APYs. The national interest rates for money market accounts are much higher than those of traditional savings accounts.
  • Check-writing privileges. If you want to write checks from your account, most of these accounts come with checks.
  • Debit card. Most come with cards you can use to make purchases or withdraw money at an ATM.

Cons

  • High opening deposit. They impose higher minimum opening deposits than savings accounts, which can range anywhere from $100 to $1,000.
  • Minimum balance requirements. Tiered interest rates are common, with minimum balance requirements that must be maintained daily or monthly to earn interest.
  • Limited transactions. Similar to savings accounts, they still may limit you to six monthly transactions.

5 alternatives to money market accounts

Not sure a money market account is right for you? Explore these other types of savings accounts when deciding where to park your cash:
  • High-yield savings accounts. The best high-yield savings accounts come with an APY that’s higher than the national average, which currently sits at 0.42% APY. Most also restrict access to your funds by not offering debit cards and preventing you from writing checks.
  • Interest-bearing checking accounts. A high-yield checking account doesn’t come with transaction limits you’d find with a money market account. But their rates are much lower, with the national average resting at 0.07% APY.
  • Cash management accounts. A cash management account lets you manage your invested money in one account by allowing you to use your money to make purchases or accrue interest. FDIC insurance is often higher than the usual $250,000 limit.
  • CDs. Unlike a money market account, you cannot access your funds after you open a CD. In exchange, you’ll enjoy higher APYs that are locked in for the duration of a term you choose.
  • Money market funds. A type of mutual fund, money market funds are low-risk investments through a bank that allow withdrawals at any time. However, funds deposited aren’t insured by the FDIC.

Bottom line

Money market accounts offer the same benefits as a traditional savings account, but often with a little more access to your funds through a debit card or checkwriting privileges. For more options, check out our comparison guide to money market accounts.

Alexa Serrano Cruz's headshot
To make sure you get accurate and helpful information, this guide has been edited by Alexa Serrano Cruz as part of our fact-checking process.
Bethany Hickey's headshot
Written by

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

Bethany's expertise
Bethany has written 439 Finder guides across topics including:
  • Personal finance
  • Banking
  • Auto loans
  • Insurance
  • Cryptocurrency and NFTs
More resources on Finder

Ask a question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

More guides on Finder

  • What Is a Money Market Account?

    Money market accounts (MMAs) are savings accounts that earn higher APYs than checking accounts but also let you write checks and easily access funds.
Go to site