Below are the highest yielding money market account rates serving citizens of the state of New Mexico.
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 New Mexico, 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 New Mexico:
(click on the institutions for more information)
- Citizens Bank: Tucumcari, NV. Money market account (or “Premium high interest checking”) yielding 1.61% APY with a $2,00 minimum deposit. You are entitled to 6 withdrawals per month however if you go over this amount a $6 fee will be imposed. This account comes with free checks, free online banking and bill pay, and only a $50 minimum deposit amount. The Citizens Bank was incorporated in Aztec, NM on January 16, 1905 and has 6 locations in Farmington, Aztec and Bloomfield. Contact: (505) 599-0100
- Community 1st Bank of Las Vegas: Santa Rosa, NM. Money market account yielding 1.46% APY with a $500 minimum balance. This account comes with 6 monthly transactions, 3 of which can be made through personal check. Community 1st Bank of Las Vegas has a few branches located in Legion Park, Mora, Wagon Mound, Roy and Santa Rosa. Contact: (505) 425-7584
Both of the above institutions are federally insured by either the FDIC or NCUA. If you live in New Mexico and know of a better money market rate offered through your local institution, please share by leaving a comment.