bank rates

Three Online Banks Offer Top MMA Rates

These banks all pay 1.25% APY.If you’re looking for a place to sock away some cash, three online banks are paying 1.25% APY on money market accounts, withstanding the downward pressure on savings rates.

You can earn the top nationally available rates from Incrediblebank, My Banking Direct and AmTrust Direct, although account requirements vary markedly.

To earn the best rate for the least amount of money, your top choice is Incrediblebank (, which only requires a $2,500 minimum deposit. The top rate is good for balances up to $249,999. Anything above that will earn 0.80% APY.

The bank is the online division of River Valley Bank of Rothschild, Wis., which has 16 brick-and-mortar locations in Wisconsin and Michigan.

For a $5,000 minimum deposit, you can open an account with My Banking Direct ( and earn 1.25% APY. If your balance falls below that amount, you’ll earn 0.25% APY.

Your other option is AmTrust Direct (

While it only takes $500 to open an account, you can only earn the top rate of 1.25% APY on balances from $10,000 to $149,999. Balances above or below that amount earn 0.50% APY.

Both My Banking Direct and AmTrust Direct are divisions of New York Community Bank, which has more than 200 branches in New York, New Jersey, Florida, Ohio and Arizona.

After those, your best-paying option is Sallie Mae Bank (, which pays 1.10% APY. There is no minimum deposit requirement and any money in your account earns the top rate.

The bank is owned by the student loan company.

Other national deals are paying 1.01% APY or below, as money market rates continue to slide.

Be sure to check out our recent local deals in Nebraska, North Carolina and Los Angeles.

You can compare these top 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 (3)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
3 Existing Comments
  1. Kathy at Bankaholic said:
    on September 12th at 07:41 am

    All of these rates are still available.

  2. Kathy at Bankaholic said:
    on September 21st at 08:51 am

    You can still get all of these MMA rates.

  3. Kathy at Bankaholic said:
    on September 26th at 10:22 am

    The banks are still offering these MMA rates.