Money Market Account Rates Today
The national average money market account pays 0.63% (FDIC, October 19, 2026). Online banks pay several times that: we read the rate on each bank's own page on October 22, 2026, with the date the bank gives for it and any condition attached. Big branch banks pay close to zero unless you qualify for a new-money offer.
Top money market rates checked October 22, 2026
- Brilliant Bank Surge Money Market: 4.00% (conditions)
- Quontic Bank Money Market Account: 3.90% on all balances
- Sallie Mae Bank Money Market Account: 3.60%
- Vio Bank Cornerstone Money Market Savings: 3.40% on all balances
- UFB Direct Portfolio Money Market: 3.26% on all balances (4.01% with the promo) (conditions)
National average: 0.63% (FDIC). Rates are variable.
Online money market accounts
| Account | APY | Rate dated | Minimum | Monthly fee | Access | Conditions |
|---|---|---|---|---|---|---|
| Brilliant Bank Surge Money Market; FDIC, through Equity Bank (Brilliant Bank is a division) | 4.00% | Dec 19, 2025 (date still on the page Oct 22, 2026) | $1,000 to open and to earn the APY | $10 a month if the daily balance drops below $2,000 | Checks and debit card on request; 6 free withdrawals a month, then $1 each | Initial rate for new depositors only; not offered in NE, KS, MO, OK or AR |
| Quontic Bank Money Market Account; FDIC (Quontic Bank) | 3.90% on all balances | Sept 1, 2026 | $100 to open | None | Checks and debit card | None stated |
| Sallie Mae Bank Money Market Account; FDIC (Sallie Mae Bank) | 3.60% | Oct 22, 2026 | $0 | None | Checks; no debit or ATM card | None stated |
| Vio Bank Cornerstone Money Market Savings; FDIC, through MidFirst Bank (Vio is a division) | 3.40% on all balances | Oct 9, 2026 | $100 to open | None ($5 a month for paper statements) | Online transfers; the page lists no checks or card | None stated |
| UFB Direct Portfolio Money Market; FDIC, through Axos Bank | 3.26% on all balances (4.01% with the promo) | Oct 22, 2026 | No minimum to earn the APY | $10 a month unless the balance is $5,000 | Checks | Promo: +0.75% for the first 6 statement cycles for new UFB/Axos customers who open by Oct 31, 2026 with code UFB75 |
| Ally Bank Money Market Account; FDIC (Ally Bank) | 3.10% on all balances | Oct 22, 2026 | $0 | None | Checks and debit card; 10 limited withdrawals or transfers per cycle (ATM unlimited) | None stated |
| Synchrony Bank Money Market Account; FDIC (Synchrony Bank) | 2.00% on all balances | Oct 22, 2026 | $0 | None | Checks; optional ATM card | None stated |
| CIT Bank Money Market; FDIC, through First-Citizens Bank & Trust (CIT is a division) | 1.55% | July 1, 2026 | $100 to open | None | Online transfers, Bill Pay and Zelle; no checks or card listed | None stated |
Each bank's own page, read October 22, 2026; Vio Bank from its page as archived October 10, 2026 (the bank's site blocks our reader). "Rate dated" is the date the bank's page gives; Brilliant Bank's page still dates its rate December 19, 2025, so confirm it before you open. Rates change without notice; we earn nothing from these banks.
What $10,000 earns in a year
| Where the money sits | APY | Interest in a year |
|---|---|---|
| Best rate with no stated condition (Quontic Bank) $100 to open; rate dated Sept 1, 2026 | 3.90% | $390 |
| Middle of the 8 online accounts below median APY | 3.33% | $333 |
| National average money market rate FDIC, October 19, 2026 | 0.63% | $63 |
| PNC Premiere Money Market, standard rate balances under $100,000, Oct 22, 2026 | 0.04% | $4 |
Big banks: offer rates for new money
Branch banks advertise money market rates near the online leaders, but only for new money above a set balance, and the rate depends on your ZIP code. Everyone else gets the standard rate.
| Bank | Offer APY (by ZIP) | To qualify | Standard APY | Fee |
|---|---|---|---|---|
| Truist Truist One Money Market; Checks and debit card | 4.00% in Atlanta, Miami and Houston; 3.85% Washington, D.C.; 3.00% Charlotte (balances $15,000 to $1,999,999.99) | New account; no Truist money market account now or closed in the last 30 days; the bank can move it to the standard rate at any time | 0.01% | $12 a month, waived with a $15,000 daily balance; $5 per withdrawal over 6 a cycle |
| PNC Premiere Money Market; ATM card; no checks | 4.00% in Orlando, 3.75% in Chicago, no offer in Pittsburgh (balances $25,000 and up) | Must have PNC consumer checking; no PNC money market account in the past 6 months; may end at any time | 0.04% under $100,000, 0.05% above | $12 a month, waived with a $5,000 average balance or linked PNC checking; $3 per transfer over 6 |
| U.S. Bank Elite Money Market; Checks, debit and ATM card | 3.40% in Minneapolis, Los Angeles, Cincinnati and Denver; 4.00% in New York City (balances $25,000 and up) | No existing U.S. Bank savings or money market account; deposit $25,000 within 30 days and keep $25,000 every day | 0.01% under $25,000, 0.05% above | $10 a month, waived with a $10,000 daily balance or Smartly Checking at Gold tier or higher |
Read October 22, 2026 from the rate data each bank's page loads for the ZIP codes named. None of the three gives an end date for its offer.
No money market account for new customers:
- Chase: Its only money market product, a retirement money market account, is listed among accounts no longer for sale.
- Wells Fargo: Savings lineup is Way2Save and Platinum Savings (Platinum Savings allows checks).
- Bank of America: Personal savings is Advantage Savings only (the fee schedule also lists a money market IRA).
- Capital One: Discover money market accounts are becoming Capital One 360 Performance Savings accounts.
- Citibank: Consumer money market accounts closed to new customers on April 15, 2022.
- TD Bank: Its money market page now redirects to savings; the consumer lineup is TD Simple Savings and TD Signature Savings.
For their savings and CD rates see high-yield savings accounts and CD rates, which include Chase, Wells Fargo, Bank of America, U.S. Bank and PNC.
Credit unions
Navy Federal Credit Union (members only: armed forces, Department of Defense, veterans and their families) pays, as of October 22, 2026: Money Market Savings 0.00% under $2,500; 1.00% from $2,500; 1.10% from $10,000; 1.15% from $25,000; 1.55% from $50,000; Jumbo Money Market Savings 0.25% under $100,000; 1.70% from $100,000; 1.75% from $250,000; 1.95% from $500,000; 2.15% from $1 million. The rate applies to the whole balance, there is no monthly fee in its fee table, and it allows checks. Credit union accounts are insured by the NCUA. PenFed and Alliant do not list a money market savings account on their sites.
Money market account vs money market fund
"Money market rates" can mean two different things. A money market account is a bank deposit, insured by the FDIC. A money market fund is a mutual fund you buy at a brokerage: it is not insured, and its yield is a 7-day SEC yield after fund expenses.
| Fund | 7-day SEC yield | Expense ratio |
|---|---|---|
| VMFXX Vanguard Federal Money Market Fund | 3.79% (7-day yield, Sep 30, 2026, SEC filing) | 0.11% |
| SWVXX Schwab Prime Advantage Money Fund | 3.71% (7-day yield, Sep 30, 2026, SEC filing) | 0.34% |
| SPAXX Fidelity Government Money Market Fund | 3.48% (7-day yield, Sep 30, 2026, SEC filing) | 0.42% |
Interest on Treasury bills is exempt from state and local income tax; a Treasury money market fund may pass part of that through, depending on your state's rules. Bank money market interest is fully taxable by your state. More on the differences: high-yield savings vs money market account and money market vs savings account.
Where rates are heading
Money market account rates are variable and follow the Federal Reserve. The Fed raised its target range to 3.75% to 4.00% on September 16, 2026, and its next decisions are on October 28 and December 9. For a rate locked for a set time, compare CD rates.
FAQ
What is the best money market account rate today?
Among the 8 online money market accounts we checked on October 22, 2026, the highest advertised rate was 4.00% at Brilliant Bank (Initial rate for new depositors only; not offered in NE, KS, MO, OK or AR), and UFB Direct's promo reaches 4.01% for new customers who open by October 31, 2026. The best rate with no stated condition was 3.90% at Quontic Bank. Rates are variable and change without notice.
What is the national average money market rate?
0.63% APY, according to the FDIC's national rates as of October 19, 2026. At that rate $10,000 earns about $63 in a year.
Are money market accounts FDIC insured?
Yes, a money market account at a bank is a deposit account covered by FDIC insurance, up to $250,000 per depositor, per insured bank, per ownership category. At a credit union the NCUA covers it the same way. A money market fund is different: it is an investment, not a deposit, and is not insured.
Is a money market account better than a high-yield savings account?
Not for the rate. At some banks the money market account pays less than the same bank's savings account: Synchrony 2.00% vs 3.55% on its High Yield Savings, CIT 1.55% vs 3.75% on Platinum Savings (balances of $5,000 or more), while Ally pays 3.10% on both. What a money market account usually adds is checks or a debit card. If you will not use those, compare on APY, fees and minimums.
How many withdrawals can I make from a money market account?
It depends on the bank. The Federal Reserve removed the federal six-per-month limit on convenient transfers from savings deposits in April 2020, but banks can still set their own: Ally limits certain withdrawals to 10 per statement cycle, and Truist and PNC charge a fee after 6.
Is money market interest taxable?
Yes. Interest is taxed as ordinary income, and your bank sends Form 1099-INT if it pays you $10 or more in a year.
Sources
- FDIC, National Rates and Rate Caps (as of October 19, 2026)
- Each bank's and credit union's own rate page, linked in the tables (read October 22, 2026)
- Federal Reserve, interim final rule deleting the six-per-month limit on convenient transfers from savings deposits (April 24, 2020)
- FDIC, Understanding Deposit Insurance
General information, not financial advice. Rates are variable; confirm the current rate and terms on the bank's own page before opening an account.