Money Market Rates 101

Here at Money Market Rates 101, we know that our readers are constantly on the lookout for the best MMA rates available right now.  So here is an update on the latest and best money market account rates nationally.

The current and best money market rates are at Capital One Bank with a 1.35% annual percentage yield (APY) and a $1,000 minimum deposit.  Next is American Express Bank with a 1.30% APY and no minimum deposit requirement followed closely by Ally Bank with a 1.29% APY and also with no minimum requirement.

There are many other MMA rates available, of course, depending on your location and deposit amount.  WTDirect has a $10,000 minimum deposit required, but gives a 1.21% APY for it and Zion’s Bank in Utah has a 1.11% APY with a $1,000 minimum deposit.  Both ING and FNBO Direct have 1.10% APY offers with no minimum deposit requirement to open and maintain.

If any of these money market rates appeal to you, apply for yours today.  Money market account rates are subject to change and are variable, so what is listed here may not be what is offered tomorrow.  All banks listed are fully FDIC insured.