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Axos Bank’s High Yield Money Market account offers a competitive 0.61% rate regardless of your account balance. But if your account drops to zero at the end of the monthly cycle, your account will close.
0.61%
APY
$0
Fee
$1,000
Minimum deposit to open
APY | 0.61% |
---|---|
Fee | $0 |
Minimum deposit to open | $1,000 |
Minimum balance to earn interest | $0 |
Interest compounding | Daily |
Monthly transaction limit | 6 |
Go to site More Info |
Review by
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
Axos Bank’s High Yield Money Market account offers a competitive rate a 0.61% APY. There are also no tiers, so you don’t need to keep a certain amount of funds in your account to earn interest. But unlike other Axos accounts, you won’t get overdraft protection or ATM reimbursements for using an out-of-network ATM.
Open your money market account in six steps:
You must meet the requirements below to open a High Yield Money Market account:
Have the following information ready before you apply:
We gathered a quick comparison of Axos Bank High Yield Money Market account and similar accounts to help you decide which one is best for you. To keep looking, select “Compare accounts” to compare even more money market savings accounts.
Axos Bank High Yield Money Market account
Not yet rated
Go to site |
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Fee $0 |
APY 0.61% |
Minimum deposit to open $1,000 |
Minimum balance to earn interest $0 |
CIT Bank Money Market
★★★★★
Go to site |
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Fee $0 |
APY 0.50% |
Minimum deposit to open $100 |
Minimum balance to earn interest $0 |
Discover Money Market
Not yet rated
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Fee $0 |
APY
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Minimum deposit to open $2,500 |
Minimum balance to earn interest $1 |
Compare even more savings accounts
In addition to its free ATM card and check-writing privileges, you can expect the following benefits from your account:
Consider the following drawbacks before you open your account:
If you want a money market account with a competitive rate, overdraft protection and reimbursements, you’ll want to keep looking. As always, compare your options when considering a money market account.
Like most money market accounts, you can only make up to six transactions a month. Use one of the following methods to access your money market funds:
Axos offers two personal savings options and three business accounts.
You can log in to your online account to send a secure message or call customer support at 1-888-502-2967 any time of the week, excluding major holidays.