Updated September 22, 2026
A money market account is a type of deposit account that earns interest and often includes check-writing privileges or debit card access — providing more flexibility than a standard savings account for accessing your money. While the average money market account annual percentage yield (APY) is only 0.45, Bankrate’s best money market accounts pay more than eight times as much.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums. .
#1 in Satisfaction for Online-Only High-Yield Savings - JD Power
Showing 2 of 2
No amount yet in total interest earned
Our expert’s curated selection of competitive money market account offers. Bankrate's editorial team selects these offers based on competitive rates, minimal fees, and overall value to consumers. Our experts regularly review and update these picks to ensure they represent the best options available. How we choose our picks
Why we ask for feedback
Your feedback helps us improve our content and services. It takes less than a minute to complete.
Your responses are anonymous and will only be used for improving our website.
See savings and CD rates from different banks and credit unions in one place, so you can quickly compare your options.
Check the rate, terms and requirements, then pick the account that helps your savings grow faster.
Click through to the bank or credit union to open your account and start earning interest.
The Federal Reserve held its benchmark federal funds steady during the July 2026 meeting. The Federal funds rate is currently at 3.50%-3.75%.
Competitive money market account rates have decreased following the three late-2025 rate cuts. But they are still more than eight times the national average, which is at 0.45 percent, according to Bankrate’s most recent survey of banks.
The discrepancy between high and low rates is most pronounced when comparing online-only banks to the nation’s largest banks with branches. Some megabanks don’t offer money market accounts; when they do, you’ll often get a competitive rate only when you clear a high balance threshold. The accounts on this page, mostly from online banks, pay in the 3% to 4% APY range, often regardless of balance.
A high-yield money market account can help you reach your savings goals on time. What’s more, the best options commonly don’t charge fees that would eat into your balance — and some also allow you to write checks.
When choosing the right account for you, consider finding one with perks.
Competitive money market accounts sometimes earn similar APYs to those of high-yield savings accounts — although money market accounts may offer some distinct features you won’t get from a savings account. Here are some key similarities and differences to watch for:
| Money market account | High-yield savings account |
| Variable APY that can change anytime. | Variable APY that can change anytime. |
| May come with check-writing privileges and a debit card. | Does not allow for check-writing and rarely comes with an ATM card. |
| Some have a tiered structure that reward greater balances with higher APYs. | All balances typically earn the same APY. |
If you’re choosing among multiple accounts that earn different APYs, try entering them into a savings calculator to see the difference in what they’ll earn over time. Bear in mind that both money market accounts and high-yield savings accounts earn variable APYs, which can increase or decrease at any time.
Bankrate staff insights
"My partner and I opened up a money market account soon after getting married because our bank was offering a higher rate on that account than on its savings account,” says a Bankrate staff member. “We also sometimes wrote one or two checks from the account in a month, so we appreciated the ability to do that."
A money market account could serve as a safe place to grow your savings, while providing the flexibility to withdraw funds without penalty.
A money market may pay a competitive rate and provide some of the key perks of a checking account. Here’s everything you need to know about opening one.
Learn moreSome money market accounts have certain features that you won’t find in a savings account. Here’s a look at some of the key advantages and disadvantages of money market accounts.
You can earn a competitive APY.
You may have check-writing privileges and sometimes a debit or ATM card.
Some money market accounts allow you to withdraw money from an ATM.
Some savings accounts and CDs might offer higher APYs.
You may be restricted to six withdrawals per statement cycle at certain banks.
High-yield savings account
An account that typically earns a higher yield compared with a traditional savings account (although it doesn’t offer check-writing privileges as with a money market account).
Checking account
An account designed to deposit and access your money, specifically for everyday transactions such as buying goods and services and paying bills.
CDs
A time deposit account that earns a fixed rate of return over a set period of time, with terms typically ranging from three months to five years.
No-penalty CDs
A no-penalty CD helps you earn a fixed yield while still being able to access your money if you need to.
Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
To find the best money market accounts, we rated these institutions on their money market account’s APY, fees, minimum deposit requirements, funds access and more. Banks and credit unions receive penalties against their overall scores for each consent decree, penalty in a case brought by a federal regulator or in a certified, federal class-action lawsuit, or adverse federal judgment for harming deposits customers.
The highest-rated money market accounts from broadly-available banks and credit unions, with the highest APYs, made our list. Learn more about how we choose the best banking products and our methodology for reviewing banks.
Weigh the benefits and drawbacks of money market accounts to decide if this type of account is right for you.
Read Bankrate's expert reviews before deciding where to deposit your money.
Stay up-to-date on how top-yielding money market accounts compare to the national average.
We appreciate your feedback
Thank you for taking the time to share your experience.
