Best Money Market Accounts in New Jersey of December 2021

Mary Gilman

If you are looking for an account that provides ease of access to your funds while earning a high-interest rate, a money market account may be a great option.

New Jersey banks offer a wide range of online and traditional money market accounts. If you prefer internet banking, choose an account from a bank that has a strong online presence. One of the main advantages of a money market account is the high annual percentage yield (APY). The higher the APY, the better results you will see in the end.

Look out for accounts with a high APY and low account fees and minimum requirements. Banks can charge monthly maintenance fees or excess withdrawal fees on your account. Some banks also have minimum initial deposits and minimum balance requirements. Shop around and compare the different options fees before making a decision.

Then there’s the ease of access. Some banks may give you an option to withdraw funds using a debit/ATM card, check-writing privileges, online or mobile banking access. To protect your money in case your bank goes under, look for accounts that are FDIC-insured.

The best money market accounts in New Jersey offer high APYs, low fees, and minimum requirements, among other perks. Compare our top picks to find your match today.

Axos Bank High Yield Money Market Account

axos bank logo

$0

Monthly Fee

$1000

Min. To Open

0.60%

Est. APY

Overview

This is a great money market account which acts like a checking account in some aspects.

It comes with a debit card and check writing privileges but be careful not to go over the monthly limit of 6 transactions. Per transaction above the limit will be expensive, around $10 per transaction.

What we like

  • Reimburses domestic ATM fees twice a month
  • Interest compounded daily
  • Debit card and check writing allowed

What we don't

  • No physical branch
  • $1,000 to open account
  • 6 Monthly Transaction Limit

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$1000
  • Min. Deposit For No Fee$0
  • Overdraft Fee$25
  • InsuredFDIC
  • State RestrictionsNone

ATM & Limits

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Check WritingAllowed
  • Debit Card UseAllowed

CIT Bank Money Market Account

cit bank logo

$0

Monthly Fee

$100

Min. To Open

0.50%

Est. APY

Overview

This money market account comes with a low intial deposit of $100 to open the account and comes with no monthly fees. Interest is compounded daily and paid monthly.

You'll earn the current APY rate regardless the amount you deposit in the account - there is no tiered system.

What we like

  • No monthly fees
  • $100 to open
  • Zelle & Paypal available

What we don't

  • No check writing
  • No physical branch locations
  • No tier for higher APY

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$100
  • Min. Deposit For No Fee$0
  • Overdraft Fee$25
  • InsuredFDIC
  • State RestrictionsNone

ATM & Limits

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Check WritingN/A
  • Debit Card UseAllowed