5 Banks with the Best Money Market Rates in the U.S.
Every dollar counts, and simply letting your business reserves sit in a low-interest checking or savings account means you are missing out on potential earnings. A high-yield money market account offers the best of both worlds — a strong annual percentage yield (APY) for growth and convenient access for everyday needs. Discover the top five banks with the best money market rates.
1. First Commonwealth Bank: Best Money Market Rates in the Northeast
The First Commonwealth Bank offers some of the best money market rates in the U.S., especially if you’re in Pennsylvania or Ohio. With 26 counties covered and convenient locations in Pittsburgh, Cleveland, Canton, Cincinnati, Columbus, Wexford and Hudson, finding a branch that fits your business needs is convenient.
First Commonwealth Bank offers competitive rates, FDIC insurance for peace of mind and ID theft protection to keep your money safe. When you open a new account and deposit $10,000, you gain an APY of 4.20% for five months. It is the ideal solution for retail businesses looking for long-term earning potential or higher interest rates.
Key Features
● Hassle-free account switching with ClickSWITCH
● Customer-focused services
● Access your funds with up to 6 checks or transfers each month
● Serving customers in Pennsylvania and Ohio for over 40 years
2. Ally Bank: Known for Consistently High Money Market Account Rates
Ally Bank offers a money market account to grow your business funds faster. Its competitive APY of 3.50% on all balance tiers is higher than many traditional banks. It requires no minimum deposit and monthly maintenance fees, making it easier for businesses of any size to get started. Open an account and get free standard checks and a debit card.
Enjoy unlimited ATM withdrawals for free at over 75,000 Allpoint® and MoneyPass® ATMs. Deposits are insured up to $250,000 per depositor, per ownership category. Ally Bank is also transparent about fees and doesn’t charge for incoming wires or standard account activity.
Key Features
● Move money in and out easily with online and mobile banking features
● FDIC-insured
● 24/7 access to customer support via email, phone and chat
3. CIT Bank: Best for Online Banking and No Monthly Fees
CIT Bank has one of the best money market account rates in 2025. It lets you open a high-yield savings account for as low as $100. It is a division of First Citizens Bank, which is known for its top-notch customer service, financial strength and industry expertise. Customers can enjoy up to 4% APY on balances of $5,000 or more, making it one of the highest rates on this list.
Transfer funds via electronic transfer, wire or mail a check. The more funds you deposit, the more you earn. Use the bank’s online savings account calculator to determine the total interest earned and end balance after your desired period.
Key Features
● Multiple account types for easy consolidation
● Competitive rates
● No account opening or monthly service fees
4. U.S. Bank: Best for Large Balances and Branch Access
U.S. Bank is an FDIC-insured company that offers smarter and accessible banking features. It is a solid option for business owners with higher cash reserves. Open a business money market account with a starting balance of $100 and earn a special interest rate on qualifying balances. Enjoy up to a 3.50% interest rate when you maintain a daily balance of $50,000 after your initial $50,000 deposit to qualify.
You must own 20% or more of your business to apply for a Platinum Business Money Market account. An Elite Money Market account can earn up to 3.25% APY, but rates may vary by balance and location.
Key Features
● Deposits are protected up to $250,000
● Strong account security and fraud protection measures
● Withdrawals via ATM card, debit card or checks
5. CFG Bank: Best for High APY With Low Minimums
CFG Bank operates with an entrepreneurial banking approach, distinguishing it from traditional banks. It offers the same features and level of expertise as more established banks, but with a
personal touch. The money market and high-yield savings accounts offer highly competitive interest rates, offering an APY of 4.32%, which is well above the national average and helps your business funds grow faster.
The bank’s physical branches are located in Maryland, but many national services are available online, making it easy to manage your account from anywhere. This flexibility, combined with a strong rate and low fees, makes CFG Bank a solid choice for retail business owners who want to keep their savings accessible.
Key Features
● FDIC-insured up to $250,000
● Ranked #1 Best Place to Work in the Baltimore Business Journal Awards
● Reliable online banking features
Open an Account Today
The best money market rate account for you depends on more than just the APY. Consider other factors like fees and minimum balances. Since rates change frequently, check the website for current information before making your choice. Contact your preferred bank and let your savings grow.