Best Money Market Rates in Miami, Florida - August 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current Miami, Florida and the surrounding area money market deposit account rates include Total Direct BankTotal Direct Bank25 W Flagler St, Miami, FL 33130A5.0 ★Texas Ratio: 6.04%Real return: +1.21%APY minus 2.8% CPI (February 2026) Online Money Market Deposit Account at 4.01% APY, Citizens BankCitizens Bank1441 Brickell Ave, Miami, FL 33131A5.0 ★Texas Ratio: 8.28%Real return: +0.70%APY minus 2.8% CPI (February 2026) Citizens Private Client Money Market at 3.50% APY, Newtek BankNewtek Bank1111 Brickell Ave, Miami, FL 33131A+5.0 ★Texas Ratio: 5.72%Real return: +0.70%APY minus 2.8% CPI (February 2026) Business Money Market Account at 3.50% APY, Amerant BankAmerant Bank2590 Biscayne Blvd, Miami, FL 33137A+5.0 ★Texas Ratio: 1.23%Real return: +0.70%APY minus 2.8% CPI (February 2026) Relationship Money Market at 3.50% APY, and BankUnitedBankUnited12905 N Kendall Dr, Miami, FL 33186A-5.0 ★Texas Ratio: 15.40%Real return: +0.70%APY minus 2.8% CPI (February 2026) Promotional Money Market Account at 3.50% APY. Money market rates as of August 28, 2026 according to verified data from MonitorBankRates.
Miami has 20 local institutions in our database, with money market rates as high as 4.01% APY from Total Direct Bank at 25 W Flagler St, Miami, FL 33130. Use the table below to compare all available offers, including options from institutions serving the broader Florida area. Rates are continually updated — we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Miami, Florida and surrounding area. Last Updated and Verified: August 28, 2026
Compare the Best Money Market Rates Today in Miami, Florida & the Surrounding Area
Balances $2,500 and over
Preferred rates
Preferred rates
Preferred Rates require $25,000 not currently on deposit with Citizens.
Money Market Account, Higher Reward
Balances from $100 and over receive 3.50% APY. Must open an account by 09/09/2026, to get the promotional rate.
Guaranteed for 6 months ON ALL BALANCES. After the promotional period, the account will automatically convert to the Bank's standard Money Market account and earn the then-current variable APY, which may change at any time at the Bank's discretion. Available to new clients or existing clients who deposit new funds not currently on deposit with BankUnited and not transferred from another BankUnited account.
Intro rate APY 3.50%
$15,000+; Intro rate
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
The money market savings account is a tiered account. Once a particular range is met the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account.
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
The money market savings account is a tiered account. Once a particular range is met the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account.
The money market savings account is a tiered account. Once a particular range is met the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account.
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
ADB to earn.
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
ADB to earn.
ADB to earn.
ADB to earn.
The money market savings account is a tiered account. Once a particular range is met the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account.
ADB to earn.
Varies; Monthly
Varies; Monthly
Varies; Monthly
Varies; Monthly
Varies; Monthly
Varies; Monthly
Standard rates
$15,000
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. Fees may reduce earnings on the account.
Balances below $1,000 will not earn dividend and APY. Annual Percentage Yield (APY) accurate as of 7/15/2026. Rates subject to change without notice.
APY is variable and may change at any time. No monthly maintenance fee. Dividends are compounded monthly and credited monthly. Dividends are calculated using a blended rate across balance tiers. Fees may reduce earnings. Limit one Momentum Money Market account per member; members with a Momentum MMA may not hold a Traditional Money Market at the same time. Membership required.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Miami, FL Money Market Rate Trends
Compare local Miami, FL money market quotes against the statewide average
Daily money market rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Florida high-yield MMA rates rose 0.024 points over the past 7 days to 3.513% APY.
Florida standard MMA rates fell 0.017 points over the past 7 days to 0.526% APY.
Miami, Florida Money Market Rate Forecast — Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current FL high-yield MMA average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Money market account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current FL high-yield money market average of 3.513% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: 1–2 Federal Reserve rate cuts of 25 basis points each over the next 12 months, based on current CME FedWatch consensus; money market institutions typically pass through 70–90% of rate cuts to deposit rates within 60–90 days. High-yield online money market rates tend to adjust faster than standard branch-based MMA rates, and jumbo-tier rates often adjust first.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Miami, Florida.
Money Market Account Earnings in Miami, Florida
Annual interest earnings at current FL average APYs, based on the high-yield and standard money market averages tracked in our database. Balances reflect the higher minimums typical of money market accounts. Compounding assumed monthly.
| Balance | HY Money Market (3.513% APY) | Monthly Earnings | Standard MMA (0.526% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $351.33 / year | $29.28 | $52.63 / year | $4.39 |
| $25,000 | $878.32 / year | $73.19 | $131.58 / year | $10.97 |
| $50,000 | $1,756.65 / year | $146.39 | $263.15 / year | $21.93 |
| $100,000 | $3,513.30 / year | $292.78 | $526.30 / year | $43.86 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, rate tier, and daily balance maintained. Rates are variable and subject to change. Source: Miami, Florida money market rate averages as of August 29, 2026. | ||||
About Our Miami, Florida Money Market Rate Database
MonitorBankRates found 20 institutions with branches in Miami (12 banks, 8 credit unions), plus 24 additional state-chartered and national online institutions available to Miami residents. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website — no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio — objective financial health metrics calculated from FDIC and NCUA regulatory data — so you can compare yield and institutional safety in one place.
Current top rate: Total Direct Bank offers a money market account at 4.01% APY with a minimum deposit of $25,000. Use the rate table above to compare all current offers in Miami, Florida.
How to Find the Best Money Market Rates in Miami, Florida
What to compare when shopping for a money market account in Miami, Florida
To find the best money market APYs in Miami, Florida, start with credit unions and online-only banks — Miami, Florida has 24 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate, and pay close attention to balance tiers — many money market accounts only pay their advertised top rate above a minimum balance of $1,000–$25,000, with lower rates (or monthly fees) below that threshold. The current FL high-yield money market average is 3.513% — but top local institutions are offering as high as 4.01%, so shopping around pays off.
Unlike a CD, money market rates are variable — your rate can change at any time with Federal Reserve policy. Also check check-writing and debit card limits: most MMAs allow a set number of withdrawals per month, and exceeding the limit can trigger fees. Review your account periodically to ensure your APY remains competitive.
When a Money Market Account Makes Sense
- Emergency fund with flexibility: You get savings-level yields plus limited check-writing and debit access. Miami, Florida high-yield money market rates currently average 3.513% APY — far above a typical checking account.
- Larger balances ($10,000+): Many MMAs pay tiered rates that rise with your balance, so bigger deposits often earn more than they would in a standard savings account.
- Parking cash between investments: A high-yield money market account at Miami, Florida institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 44 institutions in Miami, Florida report money market rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Miami, Florida CD rates
- You don’t need check writing and want a lower minimum → Miami, Florida savings rates
- You need daily transaction access → Miami, Florida checking rates
Miami, Florida Financial Snapshot
Local demographics and economic context for savers — Source: U.S. Census Bureau
15.9% of residents are 65 or older — below the national average of 17.3%. At today’s FL high-yield money market average of 3.513%, saving 10% of the local median salary ($3,807/year) would earn an additional $134 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other Miami, Florida Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in Miami, Florida.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current FL Avg APY | 3.513% | View Savings Rates | 0.526%(Standard MMA) | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✓ Often yes | ✗ No | ✗ No | ✗ No |
| Debit / ATM Card | ✓ Often yes | Some institutions | ✗ Rarely | ✗ No |
| Typical Min Deposit | $0 – $2,500 | $0 – $100 | $25 – $100 | $500 – $1,000 |
| Rate Risk | Rate may fall with Fed cuts | Rate may fall with Fed cuts | Rate may fall with Fed cuts | None — locked for term |
| Best For | Active savers wanting flexibility + check writing | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Locking in a rate for a defined period |
APY data reflects Miami, Florida averages tracked in our database as of August 29, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Miami, Florida Money Market Account Calculator
See how much a money market account can earn you. Enter your deposit, monthly contribution, and time frame — or click any current Miami, Florida rate on the right to apply it instantly. Interest compounds monthly.
Assumes monthly compounding and a constant APY for the full period. Money market rates are variable and can change at any time, so actual earnings will differ. Estimates are for informational purposes only.
Money Market & Savings Calculators for Miami, Florida
At FL’s top money market rate of 4.01% from Total Direct Bank, a $10,000 deposit earns $401 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Miami, Florida earner is roughly $9,500. At 3.513% APY in a money market account, saving $790/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountFlorida’s high-yield money market average is 3.513% APY — variable, always accessible, and often with check-writing. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Miami, Florida earner makes $38,075/year. Track your income vs. expenses to find your monthly surplus — then put it to work at 3.513% APY.
Retirement PlannerA $25,000 money market balance earning 3.513% APY grows to roughly $49,873 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Miami, Florida money market rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Money Market Rate Data: We aggregate money market deposit account rates for Miami, Florida directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every money market rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Miami, Florida. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in FL.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update money market rates daily. Because MMA yields can fluctuate rapidly based on market conditions, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Money Market Accounts in Miami, Florida
What is a Money Market Account (MMA)?
Are Money Market accounts in Miami, Florida safe?
How often do MMA rates change in Miami, Florida?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in Miami, Florida?
Can I lose money in a Money Market Account?
What is the difference between a Money Market Account and a Money Market Fund?
Do I have to pay taxes on money market account interest?
Are online banks better than local banks in Miami, Florida for money market accounts?
Best Money Market Rates in Miami, Florida
- Total Direct Bank
Online Money Market Deposit Account — 4.01% APY - Citizens Bank
Citizens Private Client Money Market — 3.50% APY - Newtek Bank
Business Money Market Account — 3.50% APY - Amerant Bank
Relationship Money Market — 3.50% APY - BankUnited
Promotional Money Market Account — 3.50% APY
Miami, Florida Rates & Resources
