0.90% Discover Bank Online Savings
0.90% American Express High Yield Savings
0.85% Urban Partnership Bank Online Savings
0.84% Ally Bank Online Savings
0.80% ING Direct Orange Savings
0.80% HSBC Advance Online Savings
0.70% FNBO Direct Online Savings
0.40% Western FCU Money Market
0.15% E*TRADE Complete Savings
0.15% Chase Plus Savings
0.10% Citibank Savings Plus
0.10% Travis CU Flexible Money Market
0.06% Patelco CU Money Market Account
In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates.
Rates are believed to be accurate as of 1/16/12. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included a few credit unions in the list so that readers have a comparison point with banks.
Discover Bank and American Express are currently tied for the highest interest rate of 0.90% among the banks that I'm tracking. A one-time favorite, Ally Bank Online Savings
It seems that the general interest rate trend is down. I was especially disappointed that the interest rates for Citibank and Chase were so low. Since I still have significant funds in these institutions, I think that it is time for me to consider moving some money around to other institutions, but I won't be transferring the funds to a credit union.
So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.