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  1. A good interest rate for a money market account is one that is higher than the average rate. The average rate is currently around 0.20% APY. Rates can vary depending on the bank or financial institution you use. Some banks may offer rates as high as 0.50% APY.

  2. May 08, 2022 · High Rate: Synchrony Bank - 0.40% APY. *$100,000 minimum balance required for the highest APY offered. **Highest APY is with at least $100,000 in a Jumbo Money Market Savings Account. Note: Annual ...

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    Is a money market account right for You?

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    What are the best money market account rates?

    • Quontic Bank Money Market Account: Best Overall. Current Rate: 0.50% APY (on balances $5,000 to $149,999.99) Quontic Bank (FDIC #57807) is an online bank that provides a full slate of personal banking options across the United States.
    • CIT Bank Money Market. Current Rate: 0.45% APY. CIT Bank (FDIC #58978) provides some of the best online banking solutions you’ll find, and the CIT Bank Money Market Account is no exception.
    • Axos Bank High Yield Money Market. Current Rate: 0.25% APY. Axos Bank (FDIC #35546) currently offers one of the top earning money market accounts on our list.
    • Nationwide Money Market Plus. Current Rate: 0.25% APY. Nationwide is widely known for their insurance offerings. They also provide a host of financial service, however, including bank accounts.
  4. Jan 07, 2022 · Money market funds (MMFs) may have some similarities to MMAs – higher interest rates and check-writing abilities – but they are vastly different. The FDIC or NCUA does not cover deposits in an MMF. You’ll find money market funds available through mutual fund companies and brokerages. While MMFs may be available at some banks, they are not ...

  5. Currently, CIT Bank offers the best online savings account with an annual percentage yield (APY) of 0.85%. This rate is subject to change at any time. Ally Bank and Discover Bank are also popular online banks that offer high-interest rates on their savings accounts.

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