Unfortunately, Bank of Internet's Money Market account offers a lackluster interest rate, especially compared to
the best money market account rates out there — but we do like that it has no monthly account maintenance fee and no minimum balance requirement.
Unlike their Yield Pledge Checking account, however, they're not actually among the current top contenders for
best money market account rates.
(Follow this link for
the best money market account rates in order to compare.)
Generally,
the best money market account rates are available to customers who are willing and able to make large deposits.
To learn more about finding
the best money market account (MMA), read on below.
In a MoneyRates America's Best Rates survey released earlier this year, the best rates among savings accounts consistently beat out
the best money market account rates.
To find
the best money market account for you, you'll want to compare rates, minimum balances and other features.
To help you compare, we show top high - yield savings options alongside
our best money market accounts.
We researched dozens of accounts to bring
you the best money market accounts available at both online and traditional banks.
As the online division of Northeast Bank in Maine, ableBanking isn't the most recognizable brand, but its 1.70 % APY is nearly as high as
the best money market accounts we've been able to find among both online and traditional banks.
The following is a list of
the best money market accounts in this article.
Paying down the debt early wouldn't actually save any money since
a good money market account yields more than the loan rate of 0.9 %.
We researched dozens of accounts to bring
you the best money market accounts available at both online and traditional banks.
EverBank rounds off Creditnet's list of
the best money market accounts of 2014.
Capital One's 360 Money Market ® account is one of
the best money market accounts available.
Today, Creditnet.com, a leading authority on banking, credit, and credit cards, announced
the best money market accounts of 2014.
Consumers who use
a good money market account can end up accruing significant amounts of interest.
To create their ranking of
the best money market accounts, Creditnet experts weighed many factors including APYs, intro rates, minimum deposits, fees, customer reviews, and expert opinions.
According to their findings, here are
the best money market accounts for consumers today:
These are
the best money market accounts on the market today.
Synchrony Bank offers one of
the best money market accounts, and is considered one of the best online banks according to GOBankingRates.com.
(If you would rather get a savings account or money market with no time restriction, look at the best savings accounts or
best money market accounts).
Not exact matches
Whether you're a
well - seasoned investor on the brink of retirement, a newbie with your very first
money market account, or somewhere in between, follow Buffet's sage advice to get you through this
market storm:
Start by looking at NerdWallet's list of the
best online
money market accounts.
So, as Robbins said, even if you're afraid that the
market will crash tomorrow, you're still
better off investing your
money rather than keeping it in savings
account where it will accrue a minuscule amount of interest.
Still, that's
better than the national average rate on
money market accounts.
Weigh your options: High - yield savings with rates that beat
money market accounts mean you'll come out ahead in the long run, and the
best savings
accounts have low to no minimum deposits.
Capital One's
account is near the top of the list for the
best money market interest rate at 1.60 % APY.
Although the following
accounts represent some of the
best savings and
money market accounts available, the survey found that the average savings and
money market rates have been below 0.20 percent for over two years.
TD's Growth
Money Market Account comes with both
better rates than Chase and lower balances to access those rates.
If you opt for an online bank or credit union, you're liable to find savings
accounts that offer
better rates and features than
money market accounts.
You can speak with a financial advisor to help you determine how
best to put your
money market account to work.
To determine which
money market account might be
best for your situation, check out the details on these
accounts that offer the highest
money market rates:
He said
money market accounts are
good options for banking customers who want to keep their
money safe while growing savings.
The latest study by GoBankingRates brings readers the
best interest rates across various products, such as savings
accounts, checking
accounts,
money market accounts and certificate of deposit products.
Even if you find a
money market account with a competitive rate — and can't find a comparable savings
account option —
money market accounts are
best used for long - term savings growth.
Opening a
money market account with average
money market rates allows you to save at a
better rate than with your basic savings
account.
The same for CDs and
money market accounts — if you can't afford the minimum deposits at this company, you can find just as
good (if not
better) interest elsewhere.
We got a
better interest rate on a
money market account so we elected to keep it housed there just to make a little
money on it.
You can obtain the
best rate of 0.60 % APY for balances under $ 25,000 by opening both the PNC Premiere
Money Market Account and the PNC Performance Select Checking
Account.
«Since the value of your retirement
account is declining in a bear
market, the
best strategy is to take no
money out,» he said.
If you have a large sum to put into savings and want to see it grow faster, a
money market account can be the
best way to save more by doing nothing.
The Capital One 360
Money Market account is one of the
best savings
account packages out there, thanks to its combination of more earnings and more convenience.
But if Santander's fees aren't a stumbling block and you like the bank's offerings, it's a decent choice for basic checking and savings as
well as high - yield
money market accounts.
High rates available on certificates of deposit as
well as the basic
money market account if you can keep $ 10,000 in the
account
These savings
accounts are also a much
better alternative to traditional
money market accounts because they pay a much higher interest rate.
The other perks remain the same, except you can snag
better rates on a Platinum Relationship
Money Market account and a 50 % discount on a safe deposit box.
Good options might include an FDIC insured online savings
account or
money market account.
«In the long run, a portfolio of
well - chosen stocks and / or equity mutual funds will always outperform a portfolio of bonds or a
money -
market account.
Your options as a member include regular banking products, such as savings
accounts,
money market accounts and checking
accounts, as
well as mortgage loans, auto loans and credit cards.