Offer | APY | Minimum to Earn APY | Fees | Next Steps | |
---|---|---|---|---|---|
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
4.00%-4.05%
Rate info
4.00% applies to balances under $100K, Need $100,000+ to earn 4.05%
|
Minimum To Earn APY:
$0.01-$100,000 for 4.00%; $100,000+ for 4.05%
|
Monthly Fee: $0 Monthly Fee:
$0
M🌜in. Balance: $2,500 to open, no min balance tဣo maintain |
Min. Balance:
$2,500 to open, no min balance to maintain
|
|
Federally insured by NCUA.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
5.20%
|
Minimum To Earn APY:
$1
|
Monthly Fee: $0 Monthly Fee:
$0
Min. Balance: $1 |
Min. Balance:
$1
|
|
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
5.30%
|
Minimum To Earn APY:
$0
|
Monthly Fee: $0 Monthly Fee:
$0
Min. Balance: $100 |
Min. Balance:
$100
|
|
Pacific Western Bank Money Market Deposit Account
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
5.27%
|
Minimum To Earn APY:
$1
|
Monthly Fee: $0 Monthly Fee:
$0
Min. Balance: $1 |
Min. Balance:
$1
|
|
2024 Award Winner
Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
4.40%
|
Minimum To Earn APY:
$1
|
Monthly Fee: $0 Monthly Fee:
$0
Min. Balance: $0 |
Min. Balance:
$0
|
|
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
4.75%
|
Minimum To Earn APY:
$0
|
Monthly Fee: $0 Monthly Fee:
$0
Min. Balance: $0 |
Min. Balance:
$0
|
|
Member FDIC.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
APY:
3.75%-4.75%
Rate info
4.50% is one-year promotional rate. After it expires, the following rates and deposit tiers apply: $100,000 and up: 4.15% ongoing APY
$50,000 - $99,999.99: 4.05% ongoing APY
$25,000 - $49,999.99: 3.75% ongoing APY
$10,000 - $24,000.00: 3.75% ongoing APY
$0 - $9,999.99: 3.75% ongoing APY
|
Minimum To Earn APY:
$0 for minimum APY
|
Monthly Fee: $0 Monthly Fee:
$0
Min. Balance: $0 |
Min. Balance:
$0
|
The billion casino royal:Federal Reserve raised benchmark interest rates sharply in 2022 and 2023, and money market account interest rates increased significantly as well. A couple years ago, it was difficult to find a billion casino royal:money market account with an APY greater ﷺthan 0.50%, but thaജt is no longer the case.
As of March 2024, it is fairly easy to find a money market account from a reputable online-based financial institution with an APY of 4.00% or even higher. Of course, money market rates are variable and will change over time.The Federal Reserve is widely expected to start lowering interest rates later in 2024 and throughout 2025, and if this happens, it is fair to assume that money market interest rates would gravitate lower as well. However, it's important to realize that money market rates don't have a direct relationship with the Fed's interest rate movements, although they tend to m♒ove in the same direction.
If you're interested inbillion casino royᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚal: opening a money market account, you'll want to be sure to choose the right one. Here's what you should look for⛦:
They're not a great replacement for a billion casino royal:checking account, unless you rarely withdraw funds. But a money market account could replace your savings account if you wanted it to. Both money market accounts and savings accounts are subject tobillion casino royal: Regulation D rules, which may limit you to six withdrawals per month and a bank may charge you extra for exceedi꧟ng these limits. In response to the pandemic, the government waived this rule in 2020, but individual banks still re💦strict the number of monthly transactions you can make.
A billion casino royal:savings account is another type of deposit account that offers a similar APY to a money market account but has more restrictions on accessing funds. You're usually limited♏ to six savings account withdrawals per month if you'd like to avoid fe🎐es, and savings accounts lack check-writing capabilities and rarely offer debit cards.
The billion casino royal:best savings accounts tend to have lower minimum balance requirements th🅺an the top money market accounts, and some may not have minimum balance requirements at𝕴 all. And if your goal is to max out your interest income, there's a good chance that you'll find the highest APY through a savings account.
READ MORE: billion cas🌄ino r🎀oyal:Savings Accounts vs. Money Market Accounts
We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
Read more: billion casino royal:CDs vs💙. Money Market Accounts
Term | Definition |
---|---|
Money market account | An MMA is a deposit account that pays interest over time and shares some checking and savings accounts features. While money market account interest rates can fluctuate over time, they are generally comparable to those found with high-yield savings accounts. Unlike most savings accounts, money market accounts often come with checks and debit cards for direct fund withdrawal. |
Annual percentage yield (APY) | The APY is an annualized representation of the account's interest rate. APY takes into account the actual interest rate as well as how often that interest compounds. Look for the highest APY to find the highest money market rates (which means more interest for you). |
Minimum balance | Some money market accounts require a minimum deposit to open the account or to avoid monthly maintenance fees. These minimum balance requirements are often higher than the requirements for savings accounts. |
Transaction limits | Money market accounts may be subject to restrictions on the number of convenient withdrawals you can make without incurring additional fees. Convenient withdrawals include electronic transfers, most check withdrawals, and online bill pay, but do not include things like withdrawals made at a branch location or cash taken out at an ATM. |
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about billion casino royal:how The Motley Fool꧙ Ascent rates bank accounts.
How often do money market accounts pay interest? Ty✃pically, your money market account will pay you interest on the funds in your account monthly, but the interest normally compounds daily. So, the more you contribute, and leave in your account, the more interest you will earn!
Money kept in money market accounts is accessible when you need it, without incurring a withdrawal penalty, as you might with a certificate of deposit.Money market accounts also allow you to withdraw your money like a checking account, mostly without withdrawal fees; but there may be slightly less access to your money on a monthly basis. Money market accounts can also include options such as debit cards and check-writing capabilities, similar to checking accounts, although not all money market accounts offer these features.Money market accounts pay a higher interest rate than traditional (branch-based) savings accounts, and sometimes even high-yield savings accounts, because of where ꦍthe banks or credit unions are allowed to invest the money you deꦰposit.
With money market accounts, your financial institution is allowed to invest your money in short-term, highly liquid, low-risk securities like certificates of deposit (CDs), government bonds/securities, commercial paper, or other similar investments.Then, when those assets it invested in mature (reach their term length for payout), the bank gives a portion of that money back to you, as a money market account holder. This investment strategy is not available to financial institutions if you put your money in just a traditional savings account.What does compounding interest mean? It means the more money you add, the more money you will earn. Interest can compound yearly, monthly or daily, depending on you🔥r account type. So, if you have daily compounding (like most MMA accounts), you will earn more money on your account if you make more frequent deposits, and the higher your balance is in your money market account, the more interest you will earn!
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of billion casino royal:publishing standards a𒊎nd editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.