bank rates

Incrediblebank Lifts Its MMA Rates

It's now part of a three-way tie for the best nationally available money market rates.Finally, a rate moving in the right direction.

Incrediblebank has just bumped up rates on its Incredible Money Market Account from 1.15% to 1.25% APY.

That puts Incrediblebank in a three-way tie for the best nationally available money market rates with AmTrust Direct and My Banking Direct.

You’ll need a $2,500 minimum deposit to open an account at Incrediblebank (, the online division of River Valley Bank, based in Wausau, Wis. The rate is good on balances up to $249,000.

Incrediblebank also offers some strong odd-term CD rates that rival the best nationally available 12- and 24-month certificates of deposit.

The top money market rates beat the best nationally available savings account rates by more than a tenth of a percentage point. The best MMAs also pay nearly as well as top 12-month CDs.

Your other top-paying MMA options, AmTrust Direct and My Banking Direct, are part of New York Community Bank.

AmTrust Direct ( pays its best rate on balances between $10,000 and $149,000. Anything above or below that amount pays 0.50% APY. It takes a $500 minimum deposit to open an account.

My Banking Direct ( pays its top rate on balances of at least $5,000. You need $5,000 to open an account.

If you have less than $5,000 in your account, you’ll earn 0.25% APY.

After the top three banks, the next best rate is offered by Sallie Mae Bank (, the bank owned by the student loan company, which pays 1.15% APY and does not have a minimum deposit requirement.

You can compare these rates to the best money market and savings account rates from scores of banks in our database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (3 votes, average: 4.67 out of 5)
One Existing Comment
  1. Kathy at Bankaholic said:
    on September 14th at 09:50 am

    All of these rates are still available, except for Sallie Mae Bank’s MMA rate, which has slipped to 1.10% APY.