Best Money Market Account Interest Rates – August 2024
Are you looking to make your money work harder for you? We found the best money market account interest rates for August 2024.
Whether you’re saving for a rainy day, planning a big purchase, or simply want to grow your wealth steadily, finding the right money market account can make a significant difference.
We also help you to find the best savings account interest rates, and the best CD interest rates. So you can get the most out of your money and savings.
Best Money Market Account Interest Rates – August 2024
What is a Money Market Account?
Firstly, let’s clarify what a money market account is. It’s a type of savings account that can possibly offer higher interest rates than traditional savings accounts. Money Market accounts often require a higher minimum balance.
Also, another factor to consider is that the best money market interest rates in the industry are sometimes offered by smaller banks or even regional banks.
Best Money Market Account Interest Rates
How to Choose the Right Money Market Account
When selecting a money market account, consider these key factors:
- Interest Rates: Look for the highest APY (Annual Percentage Yield) while considering minimum balance requirements.
- Fees: Check for monthly maintenance fees and how to waive them (usually by maintaining a minimum balance).
- Accessibility: Determine how easily you can access your funds — online, ATM, or in-person.
- Additional Features: Some money market accounts offer perks like check-writing abilities or tiered interest rates based on your balance.
Best Money Market AccountInterest Rates for August 2024
Here are the best money market account interest rates offered in August 2024.
Vio Bank 5.30%
$100 minimum $0 mo. fee
ufb Direct 5.25%
$5000 minimum to avoid $10 monthly fee
CFG Community Bank 5.25%
$1000 minimum
Quontic Bank 5.00%
$100 minimum
Zynlo Bank 5.00%
$10 minimum
Sallie Mae Bank 4.65%
No minimum
Ally Bank 4.20%
No minimum
Ever Bank 4.05%
$50,000 minimum
Check back with us often and we will keep you up to date on the latest financial information and the best savings, money market, and CD interest rates
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