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Best Money Market Accounts in Rhode Island of February 2023

Mary Gilman

Rhode Island has dozens of banks offering a wide range of money market accounts with competitive rates and features. 

A money market account can give your savings a boost with a competitive interest rate. A good account will help you build your savings while providing access to your money whenever you need it. For example, if you are saving for an emergency fund, a high interest-rate will grow your savings faster. Other features such as ATM, mobile, and online access will ease access.

When deciding on a money market account best suited for your needs, consider the annual percentage yield (APY). Other features to consider are ease of access, account fees, minimum requirements, and FDIC insurance. The goal is to find the best combination of high APY, low fees, and requirements.

Choosing an account from such a wide selection can be quite challenging. WalletBrain has made the process easier by doing the groundwork for you.

We reviewed some of the available options and provided our top picks for the best money market accounts in Rhode Island. Use our comprehensive review to find a 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