Best Money Market Rates in New York - August 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current New York money market deposit account rates include Kinecta Federal Credit UnionKinecta Federal Credit Union1425 Jefferson Rd, Rochester, NY 14623A+5.0 ★Texas Ratio: 3.77%Real return: +2.20%APY minus 2.8% CPI (February 2026) Money Markets at 5.00% APY, UFirst Federal Credit UnionUFirst Federal Credit Union274 Rugar St, Plattsburgh, NY 12901A+5.0 ★Texas Ratio: 4.05%Real return: +1.20%APY minus 2.8% CPI (February 2026) High Yield Money Market Account at 4.00% APY, Piermont BankPiermont Bank4 Bryant Park, New York, NY 10018A+5.0 ★Texas Ratio: 5.99%Real return: +0.95%APY minus 2.8% CPI (February 2026) Business Money Market Account at 3.75% APY, The Upstate National BankThe Upstate National Bank729 Proctor Ave, Ogdensburg, NY 13669A+5.0 ★Texas Ratio: 0.00%Real return: +0.90%APY minus 2.8% CPI (February 2026) Business Money Market Deposit Account at 3.70% APY, and Apple Bank for SavingsApple Bank for Savings12 Westchester Sq, Bronx, NY 10461A+5.0 ★Texas Ratio: 1.54%Real return: +0.75%APY minus 2.8% CPI (February 2026) Apple Choice Money Market Account Preferred Rate at 3.55% APY. Money market rates as of August 28, 2026 according to verified data from MonitorBankRates.
Use the tables below to compare money market rates across New York side-by-side. New York money market rates currently reach as high as 5.00% APY from Kinecta Federal Credit Union at 1425 Jefferson Rd, Rochester, NY 14623. Rates are continually updated — we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in New York and surrounding area. Last Updated and Verified: August 28, 2026
Compare the Best Money Market Rates Today in New York
High yield money market is limited to one per member and will only apply for new money to the credit union. Money withdrawn and re-deposited from Ufirst will not be eligible for the high-yield money market.
APY applies when all eligibility requirements are met, including maintaining a minimum balance of $50,000 in your Business Money Market Account and having an open, funded business checking account. If MMA balance falls below $50,000, you will earn 3.25% APY*. If opened without a business checking account, the applicable rate will be 3.25% APY*.
Apple Choice Banking Program
Qualifications Required: Premier tier requirements met; Primary or Secondary Owner of one or more Choice Money Market accounts; five (5) Qualifying Credit and/or Debit Transactions of at least $25 per transaction in Choice Checking account during each monthly statement cycle; maintain a minimum balance of $2,500 in at least one of the Choice Money Market accounts on the evaluation date.; Preferred rate is one-half of one percent (0.50%) higher than the standard interest rate. Earned when Premier tier requirements and Elite tier requirements are met.
Preferred rates
Preferred rates
Preferred Rates require $25,000 not currently on deposit with Citizens.
Money Market Account, Higher Reward
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.
The variable rate is determined by Esquire Bank and may change at any time. APY accurate as of May 1st, 2026.
$25,000 minimum
Tiered and Variable Rate) $100.000.00 Minimum to open and to earn APY required minimum daily balance $100,000.00 If average daily balance falls below $100,000.00 during the statement cycle a $20.00 minimum balance fee will apply
New money only
New money only
Intro rate APY 3.50%
$15,000+; Intro rate
Personal, Business, Non-profit, Trusts, Estates
Enjoy unlimited withdrawals with no penalties, no minimum balance requirements, and competitive tiered rates that reward higher balances. Money Market Account APY effective as of December 19, 2025. Minimum balance of $500,000 needed to receive 3.30% APY.
New money only. Daily balances at or below $24,999.99 earn an APY of 1.50%. This account has no check writing privileges.
Tiered and Variable Rate) $100.000.00 Minimum to open and to earn APY required minimum daily balance $100,000.00 If average daily balance falls below $100,000.00 during the statement cycle a $20.00 minimum balance fee will apply
Minimum Balance of $10,000.00 Required to Earn Dividends; Deposit cannot exceed $500,000.00
Tier 5 rate.
Qualifications Required: Meet the requirements in the Premier tier; AND Be the primary or secondary owner of one or more Choice Money Market accounts; AND Conduct five (5) Qualifying Credit and/or Debit Transactions of at least $25 per transaction; AND Maintain a minimum balance of $2,500 in at least one Choice Money Market account.; Interest is earned on daily balances of $2,500.00 or more. Annual Percentage Yield (APY) disclosed is effective as of August 1, 2026 and may be changed by the Bank at any time, including after account opening. There is no minimum daily balance requirement to maintain this account and no monthly maintenance fee regardless of account balance.
Premier Money Market requires $50,000 balance for 3.00% APY. **
Personal, Business, Non-profit, Trusts, Estates
Tiered and Variable Rate) $100.000.00 Minimum to open and to earn APY required minimum daily balance $100,000.00 If average daily balance falls below $100,000.00 during the statement cycle a $20.00 minimum balance fee will apply
Enjoy higher dividends on larger balances with this tiered-rate account. Competitive rates on higher deposits. Deposit or withdraw as needed. No monthly service fee. Dividend rate subject to change without notice after account opening. Dividends accrued daily and paid monthly. No check-writing capabilities allowed. Fees may reduce earnings on the account.
As high as
Variable rate product. APY is subject to change at any time, after account opening.
Tier 4 rate.
Balance $1,000,000.01 + Average Daily Bal. Compound Monthly
See Account Terms for details
Tier 5
Tier 3 rate.
$250,000 and over
Enjoy higher dividends on larger balances with this tiered-rate account. Competitive rates on higher deposits. Deposit or withdraw as needed. No monthly service fee. Dividend rate subject to change without notice after account opening. Dividends accrued daily and paid monthly. No check-writing capabilities allowed. Fees may reduce earnings on the account.
Enjoy higher dividends on larger balances with this tiered-rate account. Competitive rates on higher deposits. Deposit or withdraw as needed. No monthly service fee. Dividend rate subject to change without notice after account opening. Dividends accrued daily and paid monthly. No check-writing capabilities allowed. Fees may reduce earnings on the account.
Minimum balance required to receive dividends. Call (607) 547-5700 for more information and to apply.
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.
New York Money Market Rate Trends
Compare local New York 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.
New York high-yield MMA rates rose 0.020 points over the past 7 days to 3.197% APY.
New York standard MMA rates fell 0.016 points over the past 7 days to 0.623% APY.
New York Money Market Rate Forecast — Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current NY 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 NY high-yield money market average of 3.197% 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 New York.
Money Market Account Earnings in New York
Annual interest earnings at current NY 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 (3.197% APY) | Monthly Earnings | Standard MMA (0.623% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $319.73 / year | $26.64 | $62.32 / year | $5.19 |
| $25,000 | $799.33 / year | $66.61 | $155.80 / year | $12.98 |
| $50,000 | $1,598.65 / year | $133.22 | $311.60 / year | $25.97 |
| $100,000 | $3,197.30 / year | $266.44 | $623.20 / year | $51.93 |
| 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: New York money market rate averages as of August 30, 2026. | ||||
About Our New York Money Market Rate Database
MonitorBankRates tracks 53 money market rates from 30 banks and 23 credit unions offering money market deposit accounts to New York residents — including community institutions, regional banks, and national online options. 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: Kinecta Federal Credit Union offers a money market account at 5.00% APY. Use the rate table above to compare all current offers in New York.
How to Find the Best Money Market Rates in New York
What to compare when shopping for a money market account in New York
To find the best money market APYs in New York, start with credit unions and online-only banks — New York has 23 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 NY high-yield money market average is 3.197% — but top local institutions are offering as high as 5.00%, 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. New York high-yield money market rates currently average 3.197% 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 New York institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 53 institutions in New York 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 → New York CD rates
- You don’t need check writing and want a lower minimum → New York savings rates
- You need daily transaction access → New York checking rates
New York Financial Snapshot
Local demographics and economic context for savers — Source: U.S. Census Bureau
17.9% of residents are 65 or older, in line with the national average of 17.3%; an unemployment rate of 6.4% (vs. 4.8% nationally) underscores the value of keeping liquid emergency savings. At today’s NY high-yield money market average of 3.197%, saving 10% of the local median salary ($5,089/year) would earn an additional $163 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other New York Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in New York.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current NY Avg APY | 3.197% | View Savings Rates | 0.623%(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 New York averages tracked in our database as of August 30, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
New York 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 New York 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 New York
At NY’s top money market rate of 5.00% from Kinecta Federal Credit Union, a $10,000 deposit earns $500 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median New York earner is roughly $12,700. At 3.197% APY in a money market account, saving $1,060/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountNew York’s high-yield money market average is 3.197% 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 New York earner makes $50,891/year. Track your income vs. expenses to find your monthly surplus — then put it to work at 3.197% APY.
Retirement PlannerA $25,000 money market balance earning 3.197% APY grows to roughly $46,914 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 New York 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 New York 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 New York. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in NY.
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 New York
What is a Money Market Account (MMA)?
Are Money Market accounts in New York safe?
How often do MMA rates change in New York?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in New York?
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 New York for money market accounts?
Best Money Market Rates in New York
- Kinecta Federal Credit Union
Money Markets — 5.00% APY - UFirst Federal Credit Union
High Yield Money Market Account — 4.00% APY - Piermont Bank
Business Money Market Account — 3.75% APY - The Upstate National Bank
Business Money Market Deposit Account — 3.70% APY - Apple Bank for Savings
Apple Choice Money Market Account Preferred Rate — 3.55% APY
Cities in New York
