Best money market account rates in New Jersey (Top 3)

July 20, 2009 3 Comments »

Below are the highest yielding money market account rates available to the residents of New Jersey. We have narrowed our selection down to the best 3. One thing to note before proceeding with one of the accounts below is that currently some of the larger national banks are offering money market rates which are slightly more competitive than the ones available to the local residents of New Jersey. You may want to compare money market accounts available nationwide or dig through our archive of money market rates.

The national average for money market rates currently sits at a rather pathetic 1.22% APY, however all of the accounts listed below come with substantially higher yields. Typically MMA rates are accompanied with required balance amounts and in general, you will find higher rates associated with larger balances. If you are strictly after a high interest rate than you may want to check out interest checking accounts as well. They currently offer yields which beat the national average (for MMA rates) by 2-3 times but come with a few strings attached.

Top 3 Money Market Account Rates (New Jersey)

(clicking on the institution will bring you to their rates page)

  1. Unity Bank: Whitehouse, New Jersey. “Opportunity Money Market Account” yielding 1.76% APY with a balance of $10k and above. You will only receive an APY of 0.75% APY if your balance slips below the $10k level.
  2. Hudson City Savings Bank: New Jersey. MMA yielding 1.75% APY with a balance of $10k or above. This institution serves most of the northeast (not just New Jersey). If your account balance slips below $10k you will only receive 0.75% APY.
  3. Grand Bank: Princeton, New Jersey. MMA yielding a phenomenal 3.04% APY with a balance of $50k or more. This is the highest yielding money market account available if you have the required sum of money.

If you reside in NJ and know of a better money market rate offered by your local institution, please share be leaving a comment.

All the banks mentioned above are federally insured by the FDIC and your deposits are secure up to $250,000.

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  • RichReg

    Grand Bank’s “phenomenal” MMA rate is actually 3.20%, yielding 3.25. They’ve apparently had this rate kept secret for quite a few years now…

  • Ram Kataria

    I am interested in Money market rates and also let me know the Minimum deposit amount. Thanks.

  • jack stern

    You don’t mean mail. You mean email.
    Hudson City tells me that their highest MM rate is 1.35