Highest yielding money market account rates in Mississippi

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

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 Mississippi, we have found that in some instances you will lock in more competitive rates with local institutions rather than national ones (if you are eligible). Before committing to one of the banks/credit unions listed below, you may want to browse through our archive of money market accounts.

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 Mississippi:

(click on the institution for more information)

• Keesler Federal Credit Union: Pascagoula, MS. Money market account yielding 2.02% APY with a minimum balance of $2,500. If you maintain a balance of between $0 and $2,499 you will only receive an interest rate of 1.0% APY. Keesler Federal Credit Union is a member-owned, not-for-profit financial institution with 17 branches throughout Mississippi. They have locations in Harrison County, Hancock County, Jackson County, and Pearl River County. You are eligibile for membership if you live, work or worship in any of the counties previously listed. They also have a selct group of employers throughout Mississippi and along the gulf coast which are eligible. If you have family members who are already a member, this will make you elgibile as well. Contact: (228) 385-5500
• Grand Bank: Petal, MS. Money market account yielding 1.85% APY with a minimum balance of $7,500. Like most money market accounts you are entitled to six withdrawals per month (3 of which can be personal check) and any additional withdrawal will cost $2.00. Grand Bank has three locations in Mississippi (two in Hattiesburg and one in Petal). They also have three “mortgage centers” in Hattiesburg, Gulfport and Flowood. Contact: (601)264-1467

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

Central Sunbelt Federal Credit Union’s CD rates

Here is a credit union delivering some extremely lucrative CD (certificate of deposit) rates to it’s members. Central Sunbelt Federal Credit Union out of Mississippi has at least 4 noteworthy savings products worth looking into if you are eligible for membership.

We covered Sunbelt earlier in our post, “best CD rates in Mississippi” and just wanted to quickly reiterate their unique and attractive offerings.

First, is their 6 month CD which is currently yielding a whopping 2.50% APY (roughly twice the national average of 1.26% APY). Second, is their 12 month CD which is yielding 2.72 APY. The national average for 12 month CD’s sits at around 1.65% APY. And the third is their 18 month CD yielding an APY of 3.0%.

If you visit Central Sunbelt Federal Credit Union’s CD rate page you will see that some of their rates are uniquely broken down in a range of maturities rather than one rate per one maturity. For example, if you were to opt for a CD with a maturity of anywhere from 18-30 months you will yield an APY of 3.00%.

Other noteworthy CD rates from Central Sunbelt FCU:

• 91 day CD yielding 2.00% APY
• 36 month CD yielding 3.25% APY
• 48 month CD yielding 3.50% APY
• 60 month CD yielding 3.75% APY

All of the deposits offered by Central Sunbelt FCU come with a minimum deposit amount of $500. The rates associated with their share certificates change weekly. Your rate is constant until maturity. Dividend compounding varies with certificate terms. A substantial penalty is imposed for early withdrawal. Members will receive a quarterly statement. Balance and maturity dates are available through Touchtone Teller and Internet Banking.

Contact: (888)763-7460

Best CD rates in Mississippi (Top 3)

Below are the highest yielding CD rates available to the residents of Mississippi. The financial institutions offering these rates are local to this state but may also cover a larger regional area. If you reside in one of Mississippi’s bordering states you may also be eligible to take advantage of the savings products below, but you will need to contact a representative.

Some of the products listed below may be promotional and therefor only available for a limited time. These promotional deposit rates generally come with odd maturities (outside of the standard 6 month increments).

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

To see how these rates stack up against national ones, compare CD rates nationwide.

Top 3 CD rates in Mississippi:

(clicking on the institution will bring you to their rates page)

• Central Sunbelt Federal Credit Union: Purvis, Mississippi. 6 month CD yielding 2.50% APY with a minimum deposit amount of $500. To put this in perspective, the current national average for 6 month CD rates is 1.30% APY. This rate became effective as of August 1st and is subject to change. Once your deposit is received you will lock in this rate for the six month period. Central Sunbelt Federal CU has 4 branch locations within the state. They also have the highest rates in Mississippi for 12 month CDs, 24 month CDs, and 36 month CDs.
• Baxter Credit Union: Vancleave, Mississippi. 13 month promotional CD yielding 2.50% APY with a minimum deposit amount of $500. This is a promotional offer which became effective this month and is subject to change. They also have a noteworthy “rewards checking account” which is yielding an APY of 3.50% on all balances up to $25,000. Baxter Credit Union first opened it’s doors in 1981 and serves a select group of individuals in Mississippi.
• Navigator Credit Union: Vancleave, Mississippi. 36 month CD yielding an APY of 2.90% with a minimum deposit amount of $1,000. If you can join Central Sunbelt FCU, you will recieve a better rate for the same maturity, however if you are ineligible than this may be your best option. Like all CDs, this comes with a fixed rate for the given duration. Navigator Credit Union’s membership eligibility is farily strict in that you must live, work or worship in Mobile or Baldwin counties. You may also join if you fit within their selected group of employers.

All of the above institutions are federally insured by the NCUA (FDIC equivelant) and your funds will be federally insured up to $250,000. If you live in the state of Mississippi and know of a better CD rate, please share by leaving a comment.

15 month CD special by Fort Financial Credit Union

…So here is the latest in BankVibe’s quest for 3.0% APY FDIC insured investments: Fort Financial Credit Union out of North Carolina is offering customers using new money a 15 month CD yielding 3.05% APY (if you are already banking with them and cannot fund this account with new money they will still offer you a respectable 2.75% for the same 15 month duration.)

It’s a bit discouraging to say the least that we can’t get over this 3.0% APY hump that seems to be in place for shorter term deposits, but local credit unions and banks are constantly running CD rate promotions that will at least crush the current national averages.

To sign up for Fort Financial Credit Union’s “Spring Savings Special” CD rates you must first become a member. Like many credit unions there are geographical restrictions in place for membership.

If you live in the following cities you may be eligible for membership:

Corinth, Mississippi
Fort Wayne, Indiana
Gastonia, North Carolina
Janesville, Wisconsin
Marion, Indiana
Morganton, North Carolina
South Beloit, Illinois

See more details on who can join.

If you know of a short term deposit (6 – 18 months) yielding 3.0% PLUS please let us know about it by leaving a comment!