Best Money Market Account Rates for August 2023—Up to 5.21%
Note: The Digital Money Market account is not available to customers in Illinois, Indiana, Iowa, or Michigan.
Note:This account will pay its top APY on a maximum balance of $100,000. Amounts over that will pay a significantly lower APY.
Note: This account will pay its top APY on a maximum balance of $100,000. Amounts over that will pay a significantly lower APY.
Note: The APY on this account is a 1-year promotional rate, offered for your first year after opening the account.
Note: Online accounts from Brilliant Bank are not available to residents of Arkansas, Kansas, Missouri, and Oklahoma.
Note: This account will pay its top APY on a maximum balance of $500,000. Amounts over that will pay a significantly lower APY.
For money you know you won't need access to for a while, also consider one of the options in our daily ranking of the best nationwide CDs. You may be able to earn a higher APY than with a savings or money market account, and your rate will be locked for the full duration of the CD term.
Pays interest on your balance
Allows withdrawals and deposits when you like
Extremely safe, with virtually no risk
If rates rise, your APY could increase
Scoring a high APY may require opening an account at another bank
Easy access to your money can make it tempting to spend
If rates drop, your APY could be lowered
If you've never opened an account somewhere other than your primary bank or credit union, you may worry that top-paying small institutions or online-only banks are riskier, or that it will be inconvenient. Fortunately, your funds are as protected as they are at any federally insured institution, regardless of size or whether it has branches. And though transferring funds between institutions can take one to
Read more on investopedia.com
