Highest yielding money market account rates in Arizona

September 1, 2009 No Comments »

Below are the highest yielding money market account rates serving citizens of the state of Arizona.

If you are strictly after the best rate then you have a variety of options that will provide you with similar 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 these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Arizona, we have found that in most instances you will be able to lock in more competitive rates with national institutions. Before committing to one of the banks listed below, you may want to browse through our archive of best money market accounts.

Below, we have listed the top 2 banks and/or credit unions serving the state of Arizona which are offering the highest returns on their money market accounts.

Top 2 MMA (money market account) rates in Arizona:

(click on the institution for more information)

  • Gold Canyon Bank: Gold Canyon, AZ. Money market account yielding up to 2.17% APY. Gold Canyon Bank has set up their money market rates in six tiers based on minimum balance amount. The interest rates associated with balance amount is as follows: with a balance of less than $9,999 you will earn an APY of 1.26%, with a balance of between $10k and $24,999 you will earn an APY of 1.81%, with a balance of between $25k and $99,999 you will earn an APY of 1.87%, with a balance of between $100k and $249,999 you will earn an APY of 1.97%, with a balance of between $250k and $499,999 you will earn an APY of 2.02% and for any balance above $500k you will earn 2.17% APY. Keep in mind the FDIC only insures bank deposits up to $250,000. The current national average for money market rates sits at roughly 1.20% APY, to put this offer in perspective. Gold Canyon Bank only has two branches, one in Peoria, Arizona and the other in Gold Canyon.
  • Home National Bank: Scottsdale, AZ. Money market account yielding a rather unimpressive (but still higher than the national average) interest rate of 1.40% APY with a minimum balance of $10,000. The minimum to open this account is only $1,500, but you will receive a lower interest rate for this balance. You are entitled to 6 withdrawals per statement cycle with this account, of which, 3 can be personal check. Although the interest rate paid on this money market account is one of the more lucrative offers serving Arizona exclusively, one could find more competitive rates offered by national institutions. Home National Bank has locations in Arizona, Kansas and Oklahoma and was founded in 1888.

Both of the institutions listed above are federally insured by the FDIC. If you live in the state of Arizona 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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