Contents
- 1 **THE BEST SAVINGS ACCOUNTS**
- 1.1 [Expired] Axos Bank High Yield Savings Bonus: Up To $200 Offer
- 1.2 CIT Bank Savings Connect & eChecking: 0.90% APY (Nationwide)
- 1.3 Axos Bank UFB Savings: Up To 0.81% APY
- 1.4 Quontic Bank High Yield Savings: 0.75% APY (Nationwide)
- 1.5 American Express® High Yield Savings Account, Member FDIC: 0.60% APY (Annual Percentage Yield) – as of 4/28/2022
- 1.6 Marcus By Goldman Sachs Savings Offer: 0.60% APY (Nationwide)
- 1.7 Capital One 360 Performance Savings Offer: 0.60% APY (Nationwide)
- 1.8 CIT Bank Savings Builder Offer: 0.55% APY (Nationwide)
- 1.9 Nationwide By Axos Bank My Savings: 0.20%, 0.30%* APY (Nationwide)
- 1.10 Bo Onward Bo Savings: 0.80% APY (Nationwide)
- 2 **THE BEST MONEY MARKET ACCOUNTS**
- 2.1 Axos Bank UFB Money Market: Up To 0.81% APY
- 2.2 Ponce Bank Money Market Deposit Account: 0.75% APY (Nationwide)
- 2.3 Quontic Bank Money Market Account: Up To 0.60% APY (Nationwide)
- 2.4 CIT Bank Money Market Rate Offer: 0.70% APY (Nationwide)
- 2.5 Patriot Bank High-Yield Money Market Deposit Account: 0.70% APY (Nationwide)
- 2.6 Axos Bank High Yield Money Market: 0.25% APY (Nationwide)
- 2.7 Nationwide By Axos Bank Money Market Plus: 0.25% APY (Nationwide)
- 2.8 Vio Bank Cornerstone Money Market: 0.80% APY (Nationwide)
- 2.9 Sallie Mae Online Money Market: 0.65% APY (Nationwide)
- 2.10 Ally Bank Money Market Account: 0.60% APY (Nationwide)
See which banks have the best Savings Account and Money Market Account rates here.
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First things first, let’s go over what a Money Market account is (MMA for short). Most people have a pretty good idea of what a traditional Savings Account is.
The two are VERY similar, and most banks will offer both types of accounts. The table below will summarize the key similarities and differences.
Similarities | Differences |
Both are simple and straightforward to open. | Money Market accounts typically have more Checking-like features, such as electronic funds transfers, checks, debit cards and ATM withdrawals. |
Both will be insured (Member FDIC), keeping your deposits safe. | Savings accounts generally only allow access to funds via electronic funds transfers, telephone withdrawals, or in-person withdrawals at a branch. |
Both accounts will be limited on certain types of withdrawals per billing cycle (6 is the limit for these certain types by law). | Money Market accounts often require higher minimum balances to earn the rate. |
Aside from the interest rates, the other main deciding factor will be how you’ll need access to your funds (you’ll have more options with Money Market Accounts). A lot of people consider MMAs more a hybrid Checking/Savings account, with its limited Checking capabilities. Keep in mind, many banks limit you on the amount of check writing per month. Both a Savings and Money Market account are limited by the Federal Reserve on the total number of transactions a month.
Most consumers will choose a Money Market account for the flexibility of an emergency fund, and a Savings account for longer-term earnings. If all you’re looking for is an account to hold your savings and earn interest, simply choose the account with the best rates (assuming you can meet any minimum balance requirement).
We’ve searched through all the best rates from credit unions, local/national traditional banks, and online banks. Credit unions and traditional banks operate via brick-and-mortar locations and accumulate more overhead costs. They simply can not compete with the rates provided by online banks.
Online banking is trending up and more consumers are taking advantage of the benefits. Most people just haven’t learned about the higher rates, or are just more comfortable with big local banks. In terms of deposit security concerns, remember that your deposits are insured (Member FDIC) from all the banks listed on this page.
Most of these online banks have been around for years or decades, and many are actually just the online division of a bigger, established banking group. Once you start looking at the rates provided by internet-only banks, you’ll find they’re better with all accounts – Checking, CDs, IRAs, etc.
**THE BEST SAVINGS ACCOUNTS**
Here are the best Savings account offers currently available. We list the accounts with the best high yield rates and the best features.
[Expired] Axos Bank High Yield Savings Bonus: Up To $200 Offer

- Up to a $200 Bonus through 4/30
- No monthly maintenance fees
- No minimal balance requirements
- $250 minimum opening deposit
- Free incoming Wires
- Zero Minimum Balance Requirement
Read our review on this and other offers from Axos Bank.
CIT Bank Savings Connect & eChecking: 0.90% APY (Nationwide)

- Availability: Online, nationwide
- Minimum to earn APY: $200 monthly deposit into eChecking
- Monthly fee: $0
Read our review on this and other offers from CIT Bank.
Axos Bank UFB Savings: Up To 0.81% APY

- Earn up to 0.81% APY*.
- No monthly maintenance fees.
- No minimum deposit required to open an account.
- Access your funds 24/7 with easy-to-use digital banking tools.
Read our review on this and other offers from Axos Bank.
Quontic Bank High Yield Savings: 0.75% APY (Nationwide)

- Availability: Online, nationwide
- Minimum opening deposit: $100
- Monthly fee: $0
Read our review on this and other offers from Quontic Bank.
American Express® High Yield Savings Account, Member FDIC: 0.60% APY (Annual Percentage Yield) – as of 4/28/2022
- Available: Online, nationwide
- Minimum deposit / Minimum balance: $0
- Minimum to earn the stated APY: $1
- Fees: $0
- Account Maximimum: None
Read our review on this and other offers from American Express National Bank.
Marcus By Goldman Sachs Savings Offer: 0.60% APY (Nationwide)
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Marcus by Goldman Sachs.
Capital One 360 Performance Savings Offer: 0.60% APY (Nationwide)
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Capital One 360.
CIT Bank Savings Builder Offer: 0.55% APY (Nationwide)

- Availability: Online, nationwide
- Minimum to earn APY: $25,000 balance, OR $100 balance & a $100 minimum single deposit each month
- Monthly fee: $0
Read our review on this and other offers from CIT Bank.
Nationwide By Axos Bank My Savings: 0.20%, 0.30%* APY (Nationwide)

- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
*To qualify for the 0.30% APY you must open your new My Checking account and have a monthly Direct Deposit of at least $1,000 from a third party to your My Checking account. Otherwise, the rate is 0.20% APY with My Savings account by itself.
Read our review on this and other offers from Nationwide By Axos Bank.
Bo Onward Bo Savings: 0.80% APY (Nationwide)
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly maintenance fee: None
Read our review on this and other offers from Bo Onward.
**THE BEST MONEY MARKET ACCOUNTS**
Here are the best Money market account offers currently available. We list the accounts with the best high yield rates and the best features.
Axos Bank UFB Money Market: Up To 0.81% APY

- Earn up to 0.81% APY*.
- No monthly maintenance fees with a $5,000.00 balance, otherwise fee is $10.00 per month.
- No minimum deposit required to open an account.
- Access your funds 24/7 with easy-to-use digital banking tools.
- The UFB Money Market offers the security of a savings account with check-writing privileges.
Read our review on this and other offers from Axos Bank.
Ponce Bank Money Market Deposit Account: 0.75% APY (Nationwide)

- Availability: Online, nationwide via SaveBetter.com
- Minimum opening deposit: $1
- Monthly fee: $0
Read our review on this and other offers from SaveBetter.com
Quontic Bank Money Market Account: Up To 0.60% APY (Nationwide)

- Rate Tiers:
- <$5K – 0.40%
- $5K-$150K – 0.50%
- >$150K – 0.60%
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Quontic Bank.
CIT Bank Money Market Rate Offer: 0.70% APY (Nationwide)

- Availability: Online, nationwide
- Minimum to earn APY: $100
- Monthly fee: $0
Read our review on this and other offers from CIT Bank.
Patriot Bank High-Yield Money Market Deposit Account: 0.70% APY (Nationwide)

- Availability: Online, nationwide via SaveBetter.com
- Minimum opening deposit: $1
- Monthly fee: $0
Read our review on this and other offers from SaveBetter.com
Axos Bank High Yield Money Market: 0.25% APY (Nationwide)

- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Axos Bank.
Nationwide By Axos Bank Money Market Plus: 0.25% APY (Nationwide)

- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: Maintenance fees waived when you maintain a $1,000 daily minimum balance
Read our review on this and other offers from Nationwide By Axos Bank.
Vio Bank Cornerstone Money Market: 0.80% APY (Nationwide)
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Vio Bank
Sallie Mae Online Money Market: 0.65% APY (Nationwide)
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Sallie Mae
Ally Bank Money Market Account: 0.60% APY (Nationwide)
- Availability: Online, nationwide
- Minimum to earn APY: $1
- Monthly fee: $0
Read our review on this and other offers from Ally Bank.
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Top/Trending Offers You May Like
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- J.P. Morgan Self-Directed Investing $625 Cash
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Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.