bank rates

AmTrust Holds The Line On Top MMA Rates

It's continuing to pay the best nationally available return on money market accounts, 1.25%.
Hudson City Savings Bank is continuing its rate-cutting ways, having just reduced the return on its money market accounts for the second time in less than a month.

That has sent the New Jersey bank sliding down our rankings of the best nationally available MMA rates.

Hudson City and AmTrust Direct had shared the lead from mid-February through early May, offering savers a top return of 1.25% APY.

AmTrust Direct still does.

But Hudson City’s interest rate was cut to 1.15% APY a few weeks ago and is now down to 1.05% APY, putting it in a three-way tie for fourth place among the best MMAs.

The only drawback to AmTrust Direct’s MMA is that you must maintain a balance of at least $10,000 to qualify for its top interest rate. Balances of less than $10,000 (or greater than $149,000) earn a more modest 0.50% APY.

You need a minimum $500 deposit to open an account with AmTrust Direct, which is a part of New York Community Bank.

The other top MMA rates are:

1.15% APY from Incredible Bank, the online division of River Valley Bank, which has 16 branches in Wisconsin and Michigan. To open an account, you need a $2,500 minimum deposit, and balances up to $99,999 earn 1.15% APY. Balances between $100,000 and $249,999 earn 1.25% APY.

1.11% APY from Flagstar Direct, the online division of Flagstar Bank, which has 180 branches in Michigan, Indiana and Georgia. There is no minimum deposit or minimum balance requirements.

1.05% APY from Hudson City Savings Bank, which has 130 branches in New Jersey, New York and Connecticut. You need a minimum of $2,500 to open an account, and balances below $2,500 earn 0.90% APY.

1.05% APY from Discover Bank, the online bank of the well-known credit card company. This rate applies to balances between $10,000 and $99,999. Balances of $100,000 and above earn 1.10% APY. Balances of $2,500 to $9,000 earn 1.00% APY. A $2,500 minimum deposit is required to open an account.

1.05% APY from Nationwide Bank, the online bank of the equally well-known insurance company that uses Snoopy in its ads. There are no minimum deposit or balance requirements.

Compare these deals with the best MMA rates from scores of banks in our extensive database.

Or use our savings calculator to see how much you can earn with any money market account.

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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on June 24th at 08:25 am

    All of these rates are still available as of today.

  2. Kathy at Bankaholic said:
    on July 13th at 11:22 am

    Flagstar Direct’s rate has dipped slightly to 1.10% APY, but the other rates are still available as of today.