Best High Yield Money Market Accounts
It’s time once again for Online Banks Blog to find the latest trends and rates for money markets and bring them to you. We’re looking for the best MMA yields nationally so that you know where your savings will give you the most.
Currently, the best high yield money market accounts are with Flagstar Direct (Michigan) with a 1.81% annual percentage yield (APY) and a low $1 minimum balance to open and avoid fees. Definitely worth looking at.
Close behind, though, two banks have a 1.80% APY offer for some of the best money market yields: Ally Bank (formerly GMAC, in UT) with no deposit or maintenance minimums and UFB Direct (CA) with a $500 deposit and maintenance minimum.
Bank of the Internet (CA) has a 1.75% APY with a $100 minimum balance to open and maintain without fees. Dollar Savings in New York has a 1.70% APY with a $1,000 minimum to open and maintain.
Some high yield savings accounts (versus money markets) are doing somewhat better, but the best MMA yields more often appeal to investors due to their ease of transfer and re-use when another market gets hot.
For those with a substantial amount of money to store (more than $50,000), the above-mentioned Flagstar Direct account is still the top in money market yields. For Jumbo (over $100,000) money markets, teh best high yield money market accounts are at VirtualBank (FL) with a 1.82% APY on a deposit over $100,000.
All banks listed are FDIC insured to the fullest extent of the law. Rates change quickly and often, so if any of these money market yields appeal to you, get your account today.
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