5.15% EverBank Performance Savings
5.15% Bread Savings High-Yield Savings
5.05% CIT Bank Platinum Savings
4.75% Synchrony High Yield Savings
4.50% Marcus by Goldman Sachs (GS Bank) Online Savings
4.35% Capital One 360 Performance Savings
4.35% Discover Bank Online Savings
4.35% American Express High Yield Savings
4.25% Ally Bank Online Savings
0.65% Unify FCU Money Market
0.03% Citibank Savings Account
0.02% Chase Plus Savings
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 12/20/23. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.
In the past year or so, most banks have increased their interest rates due to market conditions. However, there are a few large banks that have stubbornly refused to match the rates offered by competing banks.
Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.
I've been a lot of our investment funds into short (1-5 years) and long term (over 10 years) CDs, Treasuries, and Agency Bonds. For me, getting 5% a year is a good return without volatility, despite the negative effect of inflation. I do expect inflation to abate, but prices are going to remain higher than before.
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