Highest yielding money market account rates in Utah

September 15, 2009 No Comments »

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

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 Utah, 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 rate 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 Utah:

(click on the institution for more information)

  • ADB Bank: Cedar City, UT. Money market account yielding 1.60% APY with no minimum balance required. This account also comes with no monthly fees, free online banking, free online bill pay, free checks, and free check imaging. Allegiance Direct originally commenced business in June of 2001 as a finance company to provide commercial customers of insurance agencies the opportunity to finance their insurance premiums. This financing allows the customer to spread the expense of insurance premiums over time so that such expense may be funded out of its operating income. ADB now offers a wide range of loan and deposit products. Contact: (800) 549-4828
  • Transportation Alliance Bank: Ogden, UT. Money market account yielding 1.20% APY with a minimum deposit of only $25. The interest on this account is compounded monthly and credited monthly. Like most MMA’s, you are entitled to 6 withdrawals per month (3 of which can be made through check). Transportation Alliance Bank, Inc (TAB) was originally established as an Industrial Loan Corporation (ILC) in 1998. TAB’s mission is to offer a full line of innovative financial services to the professional trucking market – to both individual drivers and fleet motor carriers. TAB also offers financial products to other customers of Flying J, including RV’ers and other interstate highway travelers.

Both of the above institutions are federally insured by the FDIC. If you live in Utah and know of a better money market rate offered through your local institution, please share by leaving a comment.

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