Best Money Market Account Rates in Ohio

August 21, 2009 No Comments »

BankVibe reader Sean asks, “Who offers the highest yielding money market account in the state of Ohio?”

If you are strictly after the best money market rate then you have a variety of options that will provide you with almost identical yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in this account, the higher the interest rate you will generally receive.

If you browse through our archive of money market account rates, you will see MMA’s are yielding a lot less than they were this time last year. In fact, the national average for money market rates sits at roughly 1.20% APY currently – this number was well above 3.0% APY during the summer of 2008.

Below I have listed the top 2 banks and/or credit unions serving the state of Ohio which are offering the best returns on their money market accounts. Keep in mind, you may receive higher rates from larger national banks whom serve the whole country rather than a specific region.

Best MMA (money market account) rates in Ohio:

Both of the above institutions are federally insured by either the FDIC or NCUA. If you live in Ohio and know of a better money market rate offered through your local bank or credit union, please share by leaving a comment.

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