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Best Money Market Accounts in New Mexico of February 2023

Mary Gilman

Whether you are saving for those inevitable rainy days or saving to reach your financial goals, a money market account is a great option. The high-interest rate offered on a money market account will help you to increase your funds faster.

Residents of New Mexico have a wide range of money market account options available to them. When choosing an account, look out for a high-interest annual percentage yield (APY). Some banks offer interest rates that are tiered based on the account balance, while others may pay a flat rate.

Apart from the APY, look out for accounts with little to zero maintenance fees. Some banks charge high monthly fees regardless of your account balance, while others waive the fees if you meet certain requirements. Shop around and compare the fees of the different options before making a decision.

Other factors to look out for include low minimum requirements and flexibility in depositing and withdrawing funds. Most banks offer check-writing privileges, unlimited ATM withdrawals, online, and mobile access.

We reviewed some of the best money market accounts in New Mexico. Compare our top picks to find the most suitable match for you today.

Access to a debit card

0.25%

Est. APY

$0

Min. To Earn APY

Overview

Axos offers no monthly fees and no minimum balance requirement but requires $1,000 to open the account which you can take out after opening.

What we like

  • No monthly fees
  • Access to debit card
  • Access to check writing

What we don't

  • No physical branch
  • $1,000 to open account

Schedule payments with Bill Pay

1.55%

Est. APY

$0

Min. To Earn APY

Overview

Build your savings with an above-average APY.

What we like

  • No monthly fees
  • FDIC Insured
  • Bill Pay feature

What we don't

  • Online banking only
  • Excess transaction fees
  • Overdraft fee

Interest compounded daily

3.00%

Est. APY

$0

Min. To Earn APY

Overview

Quontic provides a money market account that offers a competitive interest rate, which accrues daily. Also, customers can receive a debit card for the account.  

What we like

  • Competitive interest rate
  • Interest compounded daily
  • Debit card available

What we don't

  • Transfer and withdrawal limits

Fee-free access to ATMs

3.83%

Est. APY

$0

Min. To Earn APY

Overview

UFB Money Market Account comes with a debit card (you must request it) and allows fee-free access to any ATM within the US. 

What we like

  • Access to ATMs
  • High APY
  • No minimum balance requirements
  • Compliementary debit card

What we don't

  • $5,000 minimum to avoid monthly fees
  • No physical branches