Find the Best Interest Rates for Money Market and Savings Accounts
If you’re looking for more return from your savings, a money market account or high-yield savings account may be right for you.
But there’s a catch: In exchange for paying a higher interest rate, MMAs typically demand a larger deposit than a typical savings account. While these accounts lack the penalties you often run into when dealing with certificates of deposit, they may also limit the number of transactions you can perform each month. High-yield savings accounts offer more flexibility, but usually a lower rate than money market accounts.
This great calculator from Bankrate.com shows you real-time interest rates for the highest-yielding money market and savings accounts.