Best Money Market Accounts - July 2025

A money market account allows you to earn a rate outpacing inflation, with quick access to your cash if you need it. See our top choices.

A money market account gives you the flexibility of a checking account, with the high returns of a high-yield savings account. It makes them a perfect way to earmark money for saving goals if you don't want to tie up your money in CDs.

Money market accounts differ from traditional savings accounts, as they allow check-writing privileges and sometimes come with a debit card that can be used to access money at an ATM.

Therefore, they provide a higher level of liquidity that you likely won't find in other high-yield savings accounts. The APY of a money market account includes compounding interest, which is usually credited monthly.

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Top money market accounts right now

Use this tool to compare savings options fast:

Pros of a money market account:

Here are some of the benefits you'll gain:

  • They offer higher interest rates than a traditional savings account
  • You gain more access to your cash through debit card and check writing capabilities
  • Money market accounts are safe ways to grow your cash, as most are FDIC or NCUA insured.

Cons of a money market account

Keep these things in mind before opening one:

  • Many banks require a minimum deposit to open an account, and have minimum balance requirements as well
  • The return on money market accounts can be lower historically than investing your money in the stock market
  • The interest rate on money market accounts is variable, meaning that if the Federal Reserve cuts interest rates in the future, your money market rate could drop
  • Having easy access to savings can encourage some to spend more than they ought to

Why open a money market account?

A money market account gives you the best of both worlds: You'll earn a higher rate of return with the ability to position investments if the Fed cuts rates in the future.

On top of this, they give you more access to your cash, unlike high-yield savings accounts from online banks, where you can access funds from an ATM card or online transfer.

Here are some of the best Money Market accounts. All are FDIC-insured banks or NCUA credit unions, letting you keep your savings safe:

Swipe to scroll horizontally
Top-earning money market accounts

Account

APY

Min. Opening Deposit

Brilliant Bank

4.35%

$1,000

CFG Bank

4.32%

$1,000

Vio Bank

4.31%

$100

Merchants Bank of Indiana

4.25%

$50

Quontic Bank

4.25%

$100

Republic Bank of Chicago

4.04%

$2,500

UFB Direct

4.01%

$0

All America Bank

4.00%

$1

Northern Bank Direct

3.75%

$5,000

First Internet Bank

3.61%

$100

There are a few things to keep in mind. One, interest rates on these are variable, so if the Fed decides to cut rates in the future, it will lower your returns.

So, you'll need to pay attention to any Fed updates as they transpire. Moreover, some MMAs come with minimum balance requirements. A failure to meet these could result in monthly fees, offsetting some of your interest earnings.

Overall, they're among the most versatile savings solutions available, even with these considerations.

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Sean Jackson
Personal finance eCommerce writer

Sean is a veteran personal finance writer, with over 10 years of experience. He's written finance guides on insurance, savings, travel and more for CNET, Bankrate and GOBankingRates.