Safe Money · verified 2026-10-24
Best money market accounts.
As of Oct 24, 2026, the best money market account rate CashWars verified is Sallie Mae Bank 3.60% APY. Money market accounts are bank deposits, FDIC insured up to $250,000, and often allow checks. They are not the same as money market funds, which are not FDIC insured.
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| # | Bank | APY | Minimum to open | Insured | Source |
|---|---|---|---|---|---|
| 1 | Sallie Mae Bank Money Market Account Check writing included | 3.60% | $0 | FDIC insured | Bank's page as of Oct 24, 2026 |
We're still verifying more money market accounts; we only list what we can confirm on the bank's own page. Meanwhile, high-yield savings pay similar rates.
Is my money safe?
Yes, up to the limit. Every bank here is FDIC insured and every credit union is NCUA insured. That means the U.S. government backs your deposits up to $250,000 per person, per bank, for each type of ownership (for example, your own account, a joint account with your spouse, and a retirement account each count separately). If a bank fails, you get your money back up to that limit. According to the FDIC, no depositor has lost a penny of insured funds since it began in 1934.
Have more than $250,000? Spread it across banks, or add a joint owner or payable-on-death beneficiaries. FDIC: how coverage works · NCUA coverage
APY (annual percentage yield) is what $100 earns in a year, including interest on interest. Early withdrawal penalty is the interest you give up if you take money out of a regular CD before it ends.
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