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Article updated on Nov 7, 2024

Earn Up to 5% APY With These Top Money Market Accounts

Enjoy competitive rates and flexible access to your funds with these money market accounts.

Our Experts
Toni HusbandsLiliana HallKelly ErnstAnna N’Jie-Konte
Written by 
Toni Husbands

Toni Husbands

Staff Writer

Toni Husbands is a staff writer with CNET Money who enjoys exploring topics that promote financial wellness. She began writing about personal finance to document her experience paying off $107,000 of debt, which is detailed in her book, The Great Debt Dump. Previously, she contributed as a freelance writer for websites, including CreditCards.com, Centsai and Wisebread. She was also a regular contributor to Business AM TV, and her work has been featured on Yahoo News. Being a part-time real estate investor and amateur gardener also brings her joy.

See full bio , 
Liliana Hall

Liliana Hall

Associate Writer

Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.

See full bio
Edited by 
Kelly Ernst

Kelly Ernst

Editor

Kelly is an editor for CNET Money focusing on banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.

See full bio
Reviewed by 
Anna N’Jie-Konte

Anna N’Jie-Konte

Certified financial planner and director of Re-Envision Wealth

Anna N’Jie-Konte is the president and director of financial planning for Re-Envision Wealth, one of the few black-owned advisory firms in the country. She is among a small group of BIPOC (Black, Indigenous and People of Color) certified financial planners to give comprehensive, holistic financial advice. She currently serves as a financial adviser and investment consultant to individuals and institutions hoping to build wealth in an intentional and values-aligned fashion. A proud first-generation American with roots in Puerto Rico and Gambia, N’Jie-Konte is committed to the economic liberation of Black and brown communities. She spent nearly a decade advising ultrahigh net-worth families ($5 million and above) to grow and secure their wealth for future generations. She left the corporate world in the hopes of giving women like her -- Black women, Latinas, daughters of immigrants -- the blueprint for leveraging their incomes to build and protect their wealth. N’Jie-Konte also sits on the board of the Finserv Foundation, has been named three times to the Investment News’ list of Top 100 Influential Financial Advisors, and has been featured in well-known publications.

See full bio
Toni HusbandsLiliana Hall
Written by
Toni Husbands
Toni Husbands

Toni Husbands

Staff Writer

Toni Husbands is a staff writer with CNET Money who enjoys exploring topics that promote financial wellness. She began writing about personal finance to document her experience paying off $107,000 of debt, which is detailed in her book, The Great Debt Dump. Previously, she contributed as a freelance writer for websites, including CreditCards.com, Centsai and Wisebread. She was also a regular contributor to Business AM TV, and her work has been featured on Yahoo News. Being a part-time real estate investor and amateur gardener also brings her joy.

See full bio
Liliana Hall
Liliana Hall

Liliana Hall

Associate Writer

Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.

See full bio
Edited by
Kelly Ernst
Kelly Ernst

Kelly Ernst

Editor

Kelly is an editor for CNET Money focusing on banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.

See full bio
Reviewed by:
Anna N’Jie-Konte
Anna N’Jie-Konte

Anna N’Jie-Konte

Certified financial planner and director of Re-Envision Wealth

Anna N’Jie-Konte is the president and director of financial planning for Re-Envision Wealth, one of the few black-owned advisory firms in the country. She is among a small group of BIPOC (Black, Indigenous and People of Color) certified financial planners to give comprehensive, holistic financial advice. She currently serves as a financial adviser and investment consultant to individuals and institutions hoping to build wealth in an intentional and values-aligned fashion. A proud first-generation American with roots in Puerto Rico and Gambia, N’Jie-Konte is committed to the economic liberation of Black and brown communities. She spent nearly a decade advising ultrahigh net-worth families ($5 million and above) to grow and secure their wealth for future generations. She left the corporate world in the hopes of giving women like her -- Black women, Latinas, daughters of immigrants -- the blueprint for leveraging their incomes to build and protect their wealth. N’Jie-Konte also sits on the board of the Finserv Foundation, has been named three times to the Investment News’ list of Top 100 Influential Financial Advisors, and has been featured in well-known publications.

See full bio
Article updated on Nov 7, 2024

A money market account, or MMA, is a savings account that offers the interest-bearing benefits of a savings account and the accessibility of a checking account. You’ll have debit card access and check-writing privileges, though some banks limit the number of monthly withdrawals and transfers. Money markets are best for those who have a lower-risk threshold and who don’t need to make numerous monthly withdrawals. 

High-yielding money market accounts typically earn competitive annual percentage yields, or APYs, that are higher than a traditional savings account. But MMAs tend to require higher initial deposits or minimum balances. If you’re considering a money market account, compare offers from different banks and credit unions to find the one with a competitive APY, low balance requirements and a fee structure most aligned with your personal savings goals.

Table of Contents
Best Money Market Accounts
  • Vio Bank 4.90% APY, $100 Min. deposit to open, $0 Monthly fee
  • Quontic Bank 5.00% APY, $100 Min. deposit to open, $0 Monthly fee
  • Sallie Mae Bank 4.20% APY, $0 Min. deposit to open, $0 Monthly fee
  • Ally Bank 4.00% APY, $0 Min. deposit to open, $0 Monthly fee
  • First Internet Bank of Indiana 3.77% APY, $100 Min. deposit to open, $5 Monthly fee
  • EverBank 3.75% - 4.20% APY, $0 Min. deposit to open, $0 Monthly fee
  • Synchrony Bank 2.25% APY, $0 Min. deposit to open, $0 Monthly fee
Helpful Definitions
Money Market Account (MMA)

Similar to a savings account but with the added feature of checking-writing privileges and debit card to access cash, with some limitations.

Checking Account

The core bank account used for financial transactions. Account holders use it to deposit money and withdraw funds as needed.

Savings Account

A deposit account issued by banks and credit unions used to deposit money and earn a small amount of interest. Typically insured for up to $250,000 per account owner.

Certificate of deposit (CD)

A type of savings account in which a lump-sum deposit accrues interest at a fixed rate for a fixed term, usually with an early withdrawal penalty.

Annual Percentage Yield (APY)

A CD’s interest rate that represents the return from the compounded interest you’ll earn in 12 months on your deposit. The higher the APY, the faster your money grows.

Our Experts
Toni HusbandsLiliana HallKelly ErnstAnna N’Jie-Konte
Written by 
Toni Husbands

Toni Husbands

Staff Writer

Toni Husbands is a staff writer with CNET Money who enjoys exploring topics that promote financial wellness. She began writing about personal finance to document her experience paying off $107,000 of debt, which is detailed in her book, The Great Debt Dump. Previously, she contributed as a freelance writer for websites, including CreditCards.com, Centsai and Wisebread. She was also a regular contributor to Business AM TV, and her work has been featured on Yahoo News. Being a part-time real estate investor and amateur gardener also brings her joy.

See full bio , 
Liliana Hall

Liliana Hall

Associate Writer

Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.

See full bio
Edited by 
Kelly Ernst

Kelly Ernst

Editor

Kelly is an editor for CNET Money focusing on banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.

See full bio
Reviewed by 
Anna N’Jie-Konte

Anna N’Jie-Konte

Certified financial planner and director of Re-Envision Wealth

Anna N’Jie-Konte is the president and director of financial planning for Re-Envision Wealth, one of the few black-owned advisory firms in the country. She is among a small group of BIPOC (Black, Indigenous and People of Color) certified financial planners to give comprehensive, holistic financial advice. She currently serves as a financial adviser and investment consultant to individuals and institutions hoping to build wealth in an intentional and values-aligned fashion. A proud first-generation American with roots in Puerto Rico and Gambia, N’Jie-Konte is committed to the economic liberation of Black and brown communities. She spent nearly a decade advising ultrahigh net-worth families ($5 million and above) to grow and secure their wealth for future generations. She left the corporate world in the hopes of giving women like her -- Black women, Latinas, daughters of immigrants -- the blueprint for leveraging their incomes to build and protect their wealth. N’Jie-Konte also sits on the board of the Finserv Foundation, has been named three times to the Investment News’ list of Top 100 Influential Financial Advisors, and has been featured in well-known publications.

See full bio
Table of Contents
Toni Husbands
Written by
Toni Husbands
Staff Writer
Read more from Toni
Toni Husbands is a staff writer with CNET Money who enjoys exploring topics that promote financial wellness. She began writing about personal finance to document her experience paying off $107,000 of debt, which is detailed in her book, The Great Debt Dump. Previously, she contributed as a freelance writer for websites, including CreditCards.com, Centsai and Wisebread. She was also a regular contributor to Business AM TV, and her work has been featured on Yahoo News. Being a part-time real estate investor and amateur gardener also brings her joy.
Liliana Hall
Written by
Liliana Hall
Associate Writer
Read more from Liliana
Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.
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