Best Money Market Accounts: Where to Earn the Most on Your Cash Right Now

Best Money Market Accounts — At a Glance

Institution	Typical APY Range*	Minimum to Open	Best For	Why It Stands Out
CFG Bank	Around about 4%	Moderate	Rate-first savers	Frequently near the top of MMA yields
Quontic Bank	Around about 4%	Low	Simple high yield	Strong rates with few restrictions
Vio Bank	High-3% range	Moderate	Yield-focused savers	Consistent emphasis on APY
Sallie Mae Bank	High-3% range	Low	Flexible entry	Competitive rates with low minimums
First Internet Bank	High-3% to about 4%	Low	Large balances	Tiered structure rewards higher deposits

*APYs are variable and subject to change. Always confirm current rates and balance tiers directly with the bank.

Quick Takeaway: The best money market accounts today reward savers who are rate-sensitive and comfortable managing accounts online, especially those holding larger balances.

What Is a Money Market Account?

A money market account is a type of deposit account that blends features of both savings and checking accounts. These accounts typically offer:

• Higher interest rates than standard savings
• FDIC insurance up to applicable limits
• Easy access through transfers, checks or debit cards

Money market accounts are often used for emergency funds, short-term savings goals or cash you want to keep liquid while still earning interest.

Best Money Market Accounts Right Now

The accounts below represent the strongest mix of yield, clarity and accessibility based on current disclosures.

CFG Bank — Best Overall Yield

CFG Bank continues to sit near the top of the money market rate spectrum. Its account structure is straightforward, without complex relationship requirements, making it attractive for savers focused purely on yield. This is often a strong choice for parking large cash balances temporarily.

Quontic Bank — High Yield With Low Barriers

Quontic Bank offers competitive money market rates while keeping minimum opening requirements relatively low. The account is nationally available and easy to manage, which makes it a strong option for savers who want high yield without unnecessary complexity.

Vio Bank — Consistent Yield-First Option

Vio Bank remains a reliable pick for savers who prioritize interest over extras. While it doesn’t always lead the market, its money market account stays firmly competitive and appeals to disciplined savers comfortable with online-only banking.

Sallie Mae Bank — Flexible Entry Point

Sallie Mae Bank’s money market account balances accessibility and yield. Rates typically sit slightly below the very top but still far exceed traditional banks, making it a good option for savers who want flexibility without sacrificing too much return.

First Internet Bank — Strong for Larger Deposits

First Internet Bank stands out for savers managing larger balances. Its tiered money market structure rewards higher deposits more aggressively than many competitors, which can be appealing after a home sale, bonus or portfolio reallocation.

How Money Market Accounts Compare to Other Cash Options

Money market accounts sit in the middle of the cash-savings spectrum.

Money market accounts vs high-yield savings:High-yield savings accounts often pay similar rates, but money market accounts may add check-writing or debit access.

Money market accounts vs CDs:CDs can pay more, especially for longer terms, but require locking up funds. Money market accounts trade some yield for flexibility.

Money market accounts vs Treasury bills:Treasury bills can be competitive and government-backed, but they require brokerage access and reinvestment planning.

Who Money Market Accounts Are Best For

Best Fit

• Savers holding emergency funds or short-term cash
• Investors parking money between opportunities
• Households preparing for large expenses or taxes
• Anyone prioritizing liquidity alongside yield

Less Ideal

• Savers comfortable locking funds into CDs
• Investors seeking maximum long-term growth
• Those who prefer in-branch service over yield

How Much Can a Top Money Market Account Earn?

Even modest differences in APY can add up over time.

Balance	Low-Rate Account (about 0.01%)	Competitive MMA (about 4%)
$10,000	about $1	about $400
$25,000	about $3	about $1,000
$50,000	about $5	about $2,000

Choosing a high-yield money market account can significantly improve returns without increasing risk.

Final Take to GO: Are Money Market Accounts Still Worth It?

The best money market accounts continue to offer a compelling blend of high yield, safety and access — but only if you choose carefully. The gap between top accounts and traditional banks remains wide, and even small APY differences can add up to thousands of dollars per year on larger balances.

For many savers, a smart approach is to keep everyday checking at a traditional bank while moving idle cash into a higher-yield money market account that pays closer to market-leading rates.

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.