Below are the highest yielding money market account rates serving citizens of the state of Arkansas.
If you are strictly after the best interest 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 Arkansas, we have found that in some instances you will lock in more competitive rates with national institutions rather than local ones (if you are eligible). Before committing to one of the banks/credit unions listed below, you may want to browse through our national money market rates tables.
Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.
Top 2 money market rates in Arkansas:
(click on the institution for more information)
- Bank of Little Rock: Little Rock, Arkansas. Money market account yielding 1.51% APY with a minimum balance of $2,500. This bank has a few noteworthy accounts currently. Most notably is their “Kasasa Checking account” which is yielding 4.01% APY when qualifications are met. The qualifications consist of a required number of transactions per month, auto-debit set up and e-statement set up. You may earn this lucrative interest rate on balances up to $25,000. They also have an 18 month CD (IRA accounts only) which is yielding a very respectable 3.01% APY. Bank of Little Rock has 5 locations which are all located within the city. Contact: (501) 376-0800
- Peoples Bank Arkansas. Waldo, Arkansas. Money market account yielding 1.51% APY with a minimum balance of $2,500. You can open this account with $1,000 however you will earn a lower interest rate for any balance below $2,500. If your account dips below $1,000 you will incur a $10 monthly fee. You are entitled to 3 withdrawals per month, each additional withdrawal will come with a $10 fee as well. This bank has two branches, one in Little Rock and the other in Sheridan.
Both of the above institutions are federally insured by the FDIC. If you live in Arkansas and know of a better money market rate offered through your local institution, please share by leaving a comment.