Best Money Market Accounts of 2025
Written by
Caitlyn Moorhead
Edited by
Joe Evans
If you’re looking for the best money market accounts, you’re likely trying to earn a strong return on cash without locking it away. Money market accounts remain a popular option for emergency funds, short-term savings and large balances because they combine competitive interest, easy access and FDIC or NCUA protection.
Based on current bank disclosures, top money market accounts are still paying around 4% or more, while the national average money market rate remains well under 1%, according to the FDIC. That gap can translate into hundreds or even thousands of dollars in extra interest each year, depending on your balance.
That spread is where the real opportunity sits for savers who know where to look.
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TOP 10 WINNERS
Bank/Institution
Ratings
Money Market Account APY
Key Highlights
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Best for Great APYs
Up to
Low Monthly Fees
Online Banking
FNBO Direct Money Market Account
Discover® Bank, Member FDIC, Money Market Account
Best for Online Banking
Up to
Money Market Accounts
Checking Accounts
Discover® Bank, Member FDIC, Money Market Account
Best for Mobile Banking
No Overdraft Fees
No Minimum Deposit
BankUnited Money Market Accounts
Best for Multiple Accounts
Up to
Checking Accounts
CD Accounts
First Internet Bank Money Market Account
Best for Great APYs
Low Monthly Fees
CD Accounts
Sallie Mae Bank Money Market Accounts
Best for Mobile Banking
Up to
Low Monthly Fees
Great APYs
Texas Capital Bank Money Market Accounts
Best for No Overdraft Fees
Up to
High-Yield Savings Accounts
Great APYs
EverBank Money Market Accounts
More About the Best Money Market Accounts
Best For
Money Market Accounts
Online Banking
Great APYs
Mobile App
Low Monthly Fees
Start Saving With Just $100
Vio Bank's Cornerstone Money Market account was named as the Best of 2025. Open with $100, enjoy no monthly fees (with e-statements) and earn competitive interest while automating savings.
Fees
$5 monthly fee with paper statements
APY
Min Opening
$100
Pros
- Higher interest rate than most money market accounts
- Minimum deposit of $100
- No monthly fee
Cons
- External transfers to another bank may take longer
- No check writing capabilities
- No physical branches
Why We Like Vio Bank
VIO Bank's Cornerstone Money Market account is the best option on the market. It's affordable since the minimum deposit is $100 and the payoff is APY.
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Best For
Money Market Accounts
Mobile App
Online Banking
Great APYs
Low Monthly Fees
No Minimum Deposit Required
FNBO Direct's Online Money Market Account offers tiered rates and easy 24/7 access to your money.
Fees
$5 for each withdrawal beyond six per month
APY
Up to
Min Opening
$0
Pros
- High APY - up to
- No monthly maintenance fee
- No minimum deposit
Cons
- No physical access
- No ability to conduct in-person transactions
Why We Like FNBO Direct
FNBO Direct's Online Money Market Account offers a tiered APY up to , depending on the account balance. The account features no monthly service fees or minimum deposit requirement, making it accessible for various savers.
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Best For
Online Banks
CD Accounts
Money Market Accounts
Checking Accounts
Mobile App
No-Fee Money Market Account
Discover Bank's money market account offers a way to grow your funds with no monthly fees, making it a versatile savings tool.
Fees
No monthly service fee
APY
Contact bank
Min Opening
N/A
Pros
- No monthly service fees
- Free online bill pay and stop payment orders
Cons
- Need a higher balance to get the best rates
Why We Like Discover Bank
Discover's money market account has the best of both worlds: interest with the convenience of a checking account, including ATM and debit card access. This makes your money easy to manage -- all without monthly fees.
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Where It Stands Out
Online Banking
CD Accounts
Money Market Accounts
No Fees
Great APYs
Minimum Opening Deposit of $0
Ally Bank's money market account has the benefits of both a checking and savings account since you can earn interest and receive free standard checks.
Fees
$0
APY
Min Opening
$0
Pros
- Debit card availability
- No monthly fee
- No maintenance fee
- Competitive interest rate
- Free checks
Cons
- No physical branches
- No ability to deposit cash
- Some limits may apply on certain transactions
Why We Like It
Ally Bank's money market account offers competitive interest rates with no monthly maintenance fees or minimum balance requirements. It provides flexibility with check-writing, debit card access, and FDIC insurance for security. However, it lacks physical branches, does not accept cash deposits and some online banks may offer slightly higher rates. This account is ideal for those who prefer online banking with accessible funds and solid returns.
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Best For
Money Market Accounts
Mobile App
No Overdraft Fees
Low Monthly Fees
No Minimum Deposit
APY With Unlimited Access
BankUnited's money market account offers a standout APY, unlimited transactions and ATM access, though the $2,500 minimum deposit and monthly fee may not fit all budgets.
Fees
$15, waivable
APY
Min Opening
$2,500
Pros
- Competitive APY
- FDIC insured
- Unlimited transactions
Cons
- High minimum deposit
- Monthly maintenance fee is high if you cannot waive it
- APY is variable
Why We Like BankUnited
BankUnited offers a money market account with a competitive APY, access to ATMs and unlimited transactions.
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Best For
Checking Accounts
CD Accounts
Money Market Accounts
Mobile App
Online Banking
ATM Fee Reimbursement
First Internet Bank's Money Market Savings account offers a competitive APY for balances under $1 million, with up to $10 monthly ATM fee reimbursements.
Fees
$5
APY
Up to
Min Opening
$100
Pros
- ATM fee reimbursement is available for some transactions
- Competitive APY
- Low minimum opening deposit requirement
Cons
- High balance requirement to earn the highest yield
- Must maintain a balance of $4,000 to waive the monthly fee
Why We Like First Internet Bank
First Internet Bank's Money Market Savings account earns more for your money with a APY, which is six times the national average.
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Best For
Money Market Accounts
CD Accounts
Online Banking
Low Monthly Fees
Min. Balance to Earn APY $0
Sallie Mae Bank's money market option is a solid option with a high APY and check-writing capabilities.
Fees
No monthly service fee
APY
Min Opening
$0
Pros
- Competitive APY
- Check writing privileges
- No minimum balance requirements
Cons
- Limited physical branches
- No ability to deposit cash
Why We Like Sallie Mae Bank
The lack of a minimum balance requirement will be an incentive for anyone who wants to start saving money with Sallie Mae Bank's money market account.
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Best For
Money Market Accounts
Mobile App
Great APYs
Low Monthly Fees
No Minimum Deposit
No Fees, Competitive APYs
Texas Capital Bank's money market account offers competitive APYs, no monthly fees and tiered interest rates that reward higher balances, making it a strong choice for savers.
Fees
No monthly service fee
APY
Up to
Min Opening
$500
Pros
- Competitive APYs
- No monthly service charge
- Tiered interest rate
- One of GOBankingRates 2025 Money Market winners
Cons
- Higher balances are needed to access higher interest rates
- Limited physical branches
- The account requires at least $500 to earn interest
Why We Like Texas Capital Bank
Texas Capital Bank's money market account has competitive APYs and allows individuals to access funds. The absence of monthly fees is why GOBankingRates voted it one of the Best Money Market Accounts for 2025.
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Where It Stands Out
Money Market Accounts
High-Yield Savings Accounts
Great APY
Low Monthly Fees
No Overdraft Fees
Grow Your Money Faster with a Money Market Account
EverBank Performance Money Market Accounts provide customers with some of the highest interest rates around and don't charge monthly maintenance fees.
Fees
No monthly maintenance fees
APY
Min Opening
$0
Pros
- Competitive APYs
- Check writing and debit card access
- No minimum opening deposit
- No monthly maintenance fees
Cons
- Limited physical branches
- Lower APY for smaller balances
Why We Like EverBank
EverBank's Performance Money Market Account offers competitive interest rates, especially for balances of $10,000 and above, with an APY of . The account provides convenient access to funds through check-writing capabilities and a debit card, and it does not charge monthly maintenance fees.
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Where It Stands Out
CD Accounts
Money Market Accounts
Online Banking
Great APYs
Low Monthly Fees
Flexible Savings With ATM Access
Synchrony Bank's Money Market Account offers a competitive APY, no fees and no minimum balance requirements. With check-writing and ATM access, it combines flexibility and savings.
Fees
- $25 per wire transfer
- Free for Diamond status -- 3 per cycle
APY
Min Opening
$0
Pros
- FDIC insured
- Competitive interest rates
- Flexible access to funds
Cons
- No physical branches
- Variable interest rates
- Transaction limits
Why We Like Synchrony Bank
The Synchrony Bank Money Market Account offers a competitive APY of with the ability to write checks and withdraw money. However, Synchrony Bank is online only; if you prefer to do banking in person, this option may not be the best fit.
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Research Methodology
To determine the Best Money Market Accounts of 2025, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 23, 2025.
Best Money Market Accounts at a Glance
These banks consistently offer strong yields, low friction and broad availability for consumers.
| Bank | Account Name | Typical APY range* | Minimum To Open | Why It Stands Out |
|---|---|---|---|---|
| Quontic Bank | Money Market Account | about 4% | Low | Competitive APY with minimal balance hurdles |
| Vio Bank | Cornerstone Money Market | about 3.8% to 4% | Moderate | Consistent high-yield focus |
| CFG Bank | High-Yield Money Market | about 3.8% to 4% | Moderate | Strong rates for larger balances |
| Sallie Mae Bank | Money Market Account | about 3.7% to 3.9% | Low | Recognizable brand with solid yields |
| First Internet Bank | Money Market Account | about 3.6% to 3.9% | Low | National access and flexible features |
*APYs vary by balance tier, promotion and market conditions. Always confirm current rates directly with the bank.
What Is a Money Market Account?
A money market account is a deposit account that blends features of savings and checking. It typically:
- Pays higher interest than a standard savings account
- Offers easy access to funds, often with checks or debit cards
- Is FDIC- or NCUA-insured when offered by a bank or credit union
Unlike money market funds, MMAs are deposit accounts, not investments, which means your principal is protected within insurance limits.
How Money Market Accounts Compare to Other Cash Options
Money market accounts sit between savings, CDs and government securities, offering a balance of yield and flexibility.
Money Market Accounts vs High-Yield Savings
High-yield savings accounts often offer similar rates with fewer features. Money market accounts can make more sense if you want check-writing or debit access.
Money Market Accounts vs CDs
CDs may pay more, especially for longer terms, but your money is locked in. Money market accounts trade a bit of yield for liquidity.
Money Market Accounts vs Treasury Bills
Treasury bills are backed by the U.S. government and can be competitive, but they require brokerage access and reinvestment planning.
Who Money Market Accounts Are Best For
Use this quick chart to see if a money market account fits your needs:
| Saver Profile | Why It Fits (or Doesn’t) |
|---|---|
| Emergency fund savers | Higher yield with quick access |
| Short-term goal planners | Earn interest while keeping cash liquid |
| Large-balance holders | Competitive APYs without long lockups |
| Fee-sensitive savers | Must watch minimums and waivers |
| Rate maximizers | Online MMAs usually outperform branch banks |
| Long-term investors | CDs or bonds may offer more certainty |
What To Look for in the Best Money Market Account
When comparing options, focus on:
- APY: Look beyond “up to” rates and confirm balance requirements
- Minimums: Opening deposit and balance tiers matter
- Fees: Monthly fees can erase interest earnings
- Access: Check-writing, debit cards and transfer limits
- Insurance: FDIC or NCUA coverage up to $250,000 per depositor
Safety and FDIC Protection
Money market accounts at banks are FDIC-insured up to $250,000 per depositor, per ownership category. Savers with balances above that limit often spread funds across multiple institutions to maintain full coverage.
Final Take to GO: Are Money Market Accounts Worth It?
For many savers, money market accounts remain one of the best places to park cash. The combination of 4%-range yields, liquidity and deposit insurance makes them especially attractive for emergency funds and near-term goals.
The key is choosing the right bank. Online-focused institutions consistently pay more than traditional banks, and that difference can add up quickly over time.
FAQ: Best Money Market Accounts
Money market accounts may not be as well-known as checking or savings accounts, so it's natural to have questions. Here are answers to some of the most common ones:- What is the best money market account right now?
- The best money market account is typically one that offers a high APY with low fees and reasonable balance requirements. Online banks often lead in yield.
- Are money market accounts safe?
- Yes. Money market accounts at FDIC- or NCUA-insured institutions are protected up to $250,000 per depositor, per ownership category.
- Can you lose money in a money market account?
- No, as long as your balance stays within insurance limits. Money market accounts are deposit products, not investments.
- Do money market accounts limit withdrawals?
- Some accounts limit certain types of withdrawals or transfers. Terms vary by bank, so it’s important to review the account agreement.
- Is a money market account better than a high-yield savings account?
- A money market account may be better if you want easier access features. High-yield savings accounts can work well if you only need transfers.
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All information about Discover® Cashback Debit & Discover® Money Market Account has been collected independently by GOBankingRates. Discover® Cashback Debit & Discover® Money Market is no longer available through GOBankingRates.
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Heather Taylor, Daria Uhlig, Dawn Allcot, John Csiszar and Gabrielle Olya contributed to the reporting for this article.
