Highest Money Market Rates
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Money market options offer very high rates. These high yielding market accounts can be thought of as an investment option rather than savings accounts.
Below is a list of companies / banks offering very high interest rates for money market accounts. Though this data can be used as a reference, it is highly recommended to browse through bank websites to check for minimum monthly balance or other norms that may be a mandatory requirement.
| Bank | APY | Remarks |
|---|---|---|
| EverBank | 1.51% | Bonus rate 2.25% Applies for first three months. |
| American Express, FSB | 1.5% | |
| Discover Bank | 1.4% | |
| Ally Bank | 1.39% | |
| WTDirect | 1.26% | Minimum balance of 10,000$ is required. |
| FNBO Direct | 1.25% | |
| E-Loan | 1.1% | |
| MetLife Bank | 1% |
- Minimum balance requirements need to be learned before choosing a bank. Generally the interest rates apply only for certain balance limit.
- Some banks might require a minimal opening balance of order of 500$ to 1000$.
- Hidden charges in the form of transaction fees should be checked.
Tags: Money Market Accounts, US
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