Money market accounts earn you a competitive interest rate while giving you easy access to your money whenever you need it.
Residents of Oregon have access to a wide range of online and traditional money market accounts. The challenge is trying to choose the right account for your financial needs.
When making a selection, start by determining your needs and preferences. For example, if your main objective is to increase your savings faster, consider accounts with an annual percentage yield (APY). Interest rates can be tiered based on account balances whereas some banks offer one flat rate for all balances.
Other factors to look out for are account fees, minimum requirements, and ease of access. Some banks establish minimum initial deposit amount and minimum balance requirements. Other banks may also charge you monthly maintenance fees or transactional fees. Shop around and compare the available options. Look for an account with the best combination of high APY, low fees, and minimum requirements.
WalletBrain reviewed some of the available options based on the rates, fees, and other features. Compare our top picks of the money market accounts in Oregon to find the most suitable match for you today.
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.
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.